Destroyed houses at Vilkhivka, near eastern city Kharkiv. Fighting has slowed to village-by-village battle, say western officials. AFP
Destroyed houses at Vilkhivka, near eastern city Kharkiv. Fighting has slowed to village-by-village battle, say western officials. AFP
Destroyed houses at Vilkhivka, near eastern city Kharkiv. Fighting has slowed to village-by-village battle, say western officials. AFP
Destroyed houses at Vilkhivka, near eastern city Kharkiv. Fighting has slowed to village-by-village battle, say western officials. AFP

Ukraine-Russia fighting 'moving barely a kilometre a day'


Paul Peachey
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Live updates: follow the latest news on Russia-Ukraine

Russia continues to make only small gains in Ukraine with fighting over the summer likely to decide if the war settles into a long-term stalemate, according to western officials.

Russia is advancing a couple of kilometres a day and taking a few villages, while Ukrainian troops have limited ability to break out of their defensive positions in the east of the country.

The head of the US Pentagon’s Defence Intelligence Agency, Lt Gen Scott Berrier, told senators this week that neither the Russians nor Ukrainians were winning and “we’re at a bit of a stalemate here”, two-and-a-half months after the start of the invasion.

Russia has greater numbers but continues to make tactical errors against the highly motivated but smaller Ukrainian forces.

Western officials cited heavy losses sustained by Russian forces after Ukrainian forces destroyed a pontoon bridge over the Siverskyi Donets river, between separatist enclaves Donetsk and Luhansk, in eastern Donbas region.

Ukrainian news reports said troops thwarted the attempt by Russian forces to cross the Donets this week, leaving dozens of tanks and other military vehicles damaged or abandoned.

The command said its troops “drowned the Russian occupiers”.

“If it continues like that this then we can see it ending up as a stalemate,” said a western official. “But I still think things are playing out over the summer months.

“If we’re still in this position come September, then I think that [stalemate] is a reasonable description.”

Small advances made by Russia fall short of the 40 kilometre gains they would be hoping to make every day, said western officials

Ukrainian defenders holed up in the Azovstal steelworks in southern city Mariupol remain an irritant to Russian troops, even though Moscow has now moved some of its forces out of the city, having captured most of the Sea of Azov port.

But with the steelworks next to the city’s dockside, it remains risky for Russians to use the port.

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Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

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Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Pupils in Abu Dhabi are learning the importance of being active, eating well and leading a healthy lifestyle now and throughout adulthood, thanks to a newly launched programme 'Healthy Lifestyle'.

As part of the Healthy Lifestyle programme, specially trained coaches from City Football Schools, along with Healthpoint physicians have visited schools throughout Abu Dhabi to give fun and interactive lessons on working out regularly, making the right food choices, getting enough sleep and staying hydrated, just like their favourite footballers.

Organised by Manchester City FC and Healthpoint, Manchester City FC’s regional healthcare partner and part of Mubadala’s healthcare network, the ‘Healthy Lifestyle’ programme will visit 15 schools, meeting around 1,000 youngsters over the next five months.

Designed to give pupils all the information they need to improve their diet and fitness habits at home, at school and as they grow up, coaches from City Football Schools will work alongside teachers to lead the youngsters through a series of fun, creative and educational classes as well as activities, including playing football and other games.

Dr Mai Ahmed Al Jaber, head of public health at Healthpoint, said: “The programme has different aspects - diet, exercise, sleep and mental well-being. By having a focus on each of those and delivering information in a way that children can absorb easily it can help to address childhood obesity."

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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Updated: May 13, 2022, 5:16 PM