'The EU strongly urges Russia to refrain from any further escalatory actions,' said Josep Borrell, the EU's foreign affairs chief.
'The EU strongly urges Russia to refrain from any further escalatory actions,' said Josep Borrell, the EU's foreign affairs chief.
'The EU strongly urges Russia to refrain from any further escalatory actions,' said Josep Borrell, the EU's foreign affairs chief.
'The EU strongly urges Russia to refrain from any further escalatory actions,' said Josep Borrell, the EU's foreign affairs chief.

EU denounces Ukrainian separatists' call for help from Moscow


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Live updates: follow the latest news on Russia-Ukraine

Ukrainian rebels' request for military assistance from Moscow represents an “additional step against” the country's sovereignty, the EU said on Wednesday.

Earlier in the day, the Kremlin said the heads of the separatist republics had requested “help” to “repel Ukraine's aggression”, a move that opens the door for massed Russian troops to move in.

“The EU strongly urges Russia to refrain from any further escalatory actions,” said Josep Borrell, the EU's foreign affairs chief.

The rebels had written letters to Russian President Vladimir Putin, according to Kremlin spokesman Dmitry Peskov.

Their appeals came after Mr Putin recognised the separatist regions' independence and signed friendship treaties that included defence deals.

Washington and Britain say Russia is poised to strike Ukraine and trigger the most serious war in Europe for decades, but Mr Putin says he is open to negotiation – within limits.

  • Firefighters arrive at a military building in Kiev that was damaged in an explosion. EPA
    Firefighters arrive at a military building in Kiev that was damaged in an explosion. EPA
  • A man looks at the debris of an unidentified object in the aftermath of an explosion in Kiev. EPA
    A man looks at the debris of an unidentified object in the aftermath of an explosion in Kiev. EPA
  • Black smoke rises from a military airport in Chuguyev near Kharkiv. AFP
    Black smoke rises from a military airport in Chuguyev near Kharkiv. AFP
  • People take shelter in a Kiev subway station, after Russian President Vladimir Putin authorised a military operation in eastern Ukraine. Reuters
    People take shelter in a Kiev subway station, after Russian President Vladimir Putin authorised a military operation in eastern Ukraine. Reuters
  • A Kiev underground train station provides some shelter. Reuters
    A Kiev underground train station provides some shelter. Reuters
  • Clear airspace over Ukraine, shortly after the attack began, as shown on the Flightradar24 website. AP
    Clear airspace over Ukraine, shortly after the attack began, as shown on the Flightradar24 website. AP
  • Kiev residents leave the city following pre-offensive missile strikes by the Russian armed forces and Belarus. Getty
    Kiev residents leave the city following pre-offensive missile strikes by the Russian armed forces and Belarus. Getty
  • Russian President Vladimir Putin justified the attack in a televised address, saying it was to protect civilians in eastern Ukraine. AP
    Russian President Vladimir Putin justified the attack in a televised address, saying it was to protect civilians in eastern Ukraine. AP
  • Ukrainian President Volodymyr Zelenskyy addresses the nation in Kiev. He has declared martial law, saying Russia has targeted Ukraine's military infrastructure. AP
    Ukrainian President Volodymyr Zelenskyy addresses the nation in Kiev. He has declared martial law, saying Russia has targeted Ukraine's military infrastructure. AP
  • Firefighters extinguish a blaze at a house in Muratovo, in Ukraine's Luhansk enclave. AFP
    Firefighters extinguish a blaze at a house in Muratovo, in Ukraine's Luhansk enclave. AFP
  • The house is said to have been hit during shelling by Russian-backed separatists. AFP
    The house is said to have been hit during shelling by Russian-backed separatists. AFP
  • The coffin of Capt Anton Sidorov is carried by members of the honour guard during a ceremony held at the Ministry of Defence in Kiev, Ukraine. Getty
    The coffin of Capt Anton Sidorov is carried by members of the honour guard during a ceremony held at the Ministry of Defence in Kiev, Ukraine. Getty
  • A picture memorial for those killed in the confrontation between Ukraine's military and pro-Russia separatist forces, in the Luhansk region in eastern Ukraine. AP
    A picture memorial for those killed in the confrontation between Ukraine's military and pro-Russia separatist forces, in the Luhansk region in eastern Ukraine. AP
  • UN Secretary General Antonio Guterres and Russia's Ambassador to the UN, Vassily Nebenzia, attend a Security Council meeting in New York to discuss the crisis in Ukraine. Reuters
    UN Secretary General Antonio Guterres and Russia's Ambassador to the UN, Vassily Nebenzia, attend a Security Council meeting in New York to discuss the crisis in Ukraine. Reuters
  • Ukraine's UN ambassador Sergey Kyslytsya speaks during an emergency meeting of the Security Council. AP
    Ukraine's UN ambassador Sergey Kyslytsya speaks during an emergency meeting of the Security Council. AP
  • US Army soldiers from the 82nd Airborne Division head towards an air base near Arlamow, Poland. Reuters
    US Army soldiers from the 82nd Airborne Division head towards an air base near Arlamow, Poland. Reuters
  • An employee works at the gun counter of a tactical equipment shop in Kiev, Ukraine. Getty
    An employee works at the gun counter of a tactical equipment shop in Kiev, Ukraine. Getty
  • A Ukrainian soldier speaks on a walkie-talkie at his position at the line of separation between Ukraine-held territory and rebel-held territory near Svitlodarsk, eastern Ukraine. AP
    A Ukrainian soldier speaks on a walkie-talkie at his position at the line of separation between Ukraine-held territory and rebel-held territory near Svitlodarsk, eastern Ukraine. AP
  • A man removes his belongings from his house after it was struck by artillery shells in Novoluhanske, eastern Ukraine. AP
    A man removes his belongings from his house after it was struck by artillery shells in Novoluhanske, eastern Ukraine. AP
  • A damaged house in Vibrovka village. EPA
    A damaged house in Vibrovka village. EPA
  • A man shows a poster in support of Ukraine as he protests against the escalation of the tension between Russia and Ukraine, in Berlin. AP
    A man shows a poster in support of Ukraine as he protests against the escalation of the tension between Russia and Ukraine, in Berlin. AP
  • Soldiers carry the coffin of Capt Anton Sydorov, 35, after he was killed in eastern Ukraine. AP
    Soldiers carry the coffin of Capt Anton Sydorov, 35, after he was killed in eastern Ukraine. AP
  • Workers look into a destroyed house after shelling near the city of Novoluhanske in Donetsk. Reuters
    Workers look into a destroyed house after shelling near the city of Novoluhanske in Donetsk. Reuters
  • Destroyed buildings in Krasnogorivka, Ukraine. AFP
    Destroyed buildings in Krasnogorivka, Ukraine. AFP
  • Smoke rises from a power plant after shelling outside the town of Schastia, a day after Moscow recognised two Ukrainian separatist republics and ordered the Russian Army to send in troops as ‘peacekeepers’. AFP
    Smoke rises from a power plant after shelling outside the town of Schastia, a day after Moscow recognised two Ukrainian separatist republics and ordered the Russian Army to send in troops as ‘peacekeepers’. AFP
  • A Ukrainian Army soldier trudges through the wintry streets of Schastia on patrol. AFP
    A Ukrainian Army soldier trudges through the wintry streets of Schastia on patrol. AFP
  • Three women run for cover during shelling in Schastia, eastern Ukraine. AFP
    Three women run for cover during shelling in Schastia, eastern Ukraine. AFP
  • Russian tanks and armoured vehicles on the road in Rostov. EPA
    Russian tanks and armoured vehicles on the road in Rostov. EPA
  • A woman shares food with dogs in Stanytsia Luhanska, a crossing point between Ukrainian government-controlled areas and pro-Russian separatists' territory. AP
    A woman shares food with dogs in Stanytsia Luhanska, a crossing point between Ukrainian government-controlled areas and pro-Russian separatists' territory. AP
  • People wave Russian flags in Donetsk, the territory controlled by pro-Russian militants, in eastern Ukraine. AP
    People wave Russian flags in Donetsk, the territory controlled by pro-Russian militants, in eastern Ukraine. AP
  • A tank drives along a street in the city of Donetsk. Reuters
    A tank drives along a street in the city of Donetsk. Reuters
  • Ukrainian President Volodymyr Zelenskyy addresses the nation on TV and says 'we are not afraid' after Russian President Vladimir Putin ordered troops into Donetsk and Luhansk, two Moscow-backed rebel regions of Ukraine. AFP
    Ukrainian President Volodymyr Zelenskyy addresses the nation on TV and says 'we are not afraid' after Russian President Vladimir Putin ordered troops into Donetsk and Luhansk, two Moscow-backed rebel regions of Ukraine. AFP
  • A military truck in Donetsk after Mr Putin ordered the deployment of Russian troops to the city. Reuters
    A military truck in Donetsk after Mr Putin ordered the deployment of Russian troops to the city. Reuters
  • Russian state television showed Mr Putin signing a decree recognising the independence of the two Ukrainian breakaway regions. Reuters
    Russian state television showed Mr Putin signing a decree recognising the independence of the two Ukrainian breakaway regions. Reuters
  • US President Joe Biden signs an executive order at the White House to prohibit trade and investment between US individuals and the two breakaway regions of eastern Ukraine. Reuters
    US President Joe Biden signs an executive order at the White House to prohibit trade and investment between US individuals and the two breakaway regions of eastern Ukraine. Reuters
  • Mr Putin signs documents, including the decree recognising two Russian-backed breakaway regions in eastern Ukraine. Reuters
    Mr Putin signs documents, including the decree recognising two Russian-backed breakaway regions in eastern Ukraine. Reuters
  • Ukraine ambassador to the United Nations, Sergiy Kyslytsya, addresses an emergency meeting of the UN Security Council on the situation between Ukraine and Russia in New York. EPA
    Ukraine ambassador to the United Nations, Sergiy Kyslytsya, addresses an emergency meeting of the UN Security Council on the situation between Ukraine and Russia in New York. EPA

EU leaders are due to meet on Thursday evening in Brussels for a summit to discuss the “latest developments” following Moscow's recognition of the separatist Ukrainian regions and the bloc's adoption of economic sanctions.

The meeting will also discuss ways to “hold Russia accountable” and support Ukraine.

COMPANY%20PROFILE
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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Match info:

Manchester City 2
Sterling (8'), Walker (52')

Newcastle United 1
Yedlin (30')

PREMIER LEAGUE FIXTURES

Saturday (UAE kick-off times)

Watford v Leicester City (3.30pm)

Brighton v Arsenal (6pm)

West Ham v Wolves (8.30pm)

Bournemouth v Crystal Palace (10.45pm)

Sunday

Newcastle United v Sheffield United (5pm)

Aston Villa v Chelsea (7.15pm)

Everton v Liverpool (10pm)

Monday

Manchester City v Burnley (11pm)

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

Indoor cricket in a nutshell

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ENadeera%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ERabih%20El%20Chaar%20and%20Reem%20Khattar%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ECleanTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20About%20%241%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EHope%20Ventures%2C%20Rasameel%20Investments%20and%20support%20from%20accelerator%20programmes%20%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3C%2Fp%3E%0A
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

GRAN%20TURISMO
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Neill%20Blomkamp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20David%20Harbour%2C%20Orlando%20Bloom%2C%20Archie%20Madekwe%2C%20Darren%20Barnet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The%20US%20Congress%20explained
%3Cp%3E-%20Congress%20is%20one%20of%20three%20branches%20of%20the%20US%20government%2C%20and%20the%20one%20that%20creates%20the%20nation's%20federal%20laws%3C%2Fp%3E%0A%3Cp%3E-%20Congress%20is%20divided%20into%20two%20chambers%3A%20The%20House%20of%20Representatives%20and%20the%20Senate%3C%2Fp%3E%0A%3Cp%3E-%C2%A0The%20House%20is%20made%20up%20of%20435%20members%20based%20on%20a%20state's%20population.%20House%20members%20are%20up%20for%20election%20every%20two%20years%3C%2Fp%3E%0A%3Cp%3E-%20A%20bill%20must%20be%20approved%20by%20both%20the%20House%20and%20Senate%20before%20it%20goes%20to%20the%20president's%20desk%20for%20signature%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%20218%20seats%20to%20be%20in%20control%20of%20the%20House%20of%20Representatives%3C%2Fp%3E%0A%3Cp%3E-%20The%20Senate%20is%20comprised%20of%20100%20members%2C%20with%20each%20state%20receiving%20two%20senators.%20Senate%20members%20serve%20six-year%20terms%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%2051%20seats%20to%20control%20the%20Senate.%20In%20the%20case%20of%20a%2050-50%20tie%2C%20the%20party%20of%20the%20president%20controls%20the%20Senate%3C%2Fp%3E%0A
UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP

Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan

Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri

A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ETuhoon%0D%3Cbr%3E%3Cstrong%3EYear%20started%3A%20%3C%2Fstrong%3EJune%202021%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EFares%20Ghandour%2C%20Dr%20Naif%20Almutawa%2C%20Aymane%20Sennoussi%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Ehealth%20care%0D%3Cbr%3E%3Cstrong%3ESize%3A%20%3C%2Fstrong%3E15%20employees%2C%20%24250%2C000%20in%20revenue%0D%3Cbr%3EI%3Cstrong%3Envestment%20stage%3A%20s%3C%2Fstrong%3Eeed%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Nuwa%20Capital%2C%20angel%20investors%3C%2Fp%3E%0A

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.”

Updated: February 24, 2022, 3:38 AM