Live updates: follow the latest news on Russia-Ukraine
Russian troops attacked and captured Europe’s largest nuclear power plant on Friday, setting part of the Ukrainian facility ablaze in an assault Ukraine's leader branded “nuclear terror” and said could endanger the continent.
Local authorities said no immediate radiation rise was detected and “essential” equipment was unaffected by the fire, but it remained unclear what the attacking forces planned next.
Ukrainian President Volodymyr Zelenskyy spoke with world leaders, including US President Joe Biden and British Prime Minister Boris Johnson, who called for a halt to fighting at the Zaporizhzhia nuclear plant.
What is the significance of the Zaporizhzhia plant?
The Zaporizhzhia power plant in the Ukrainian city of Enerhodar is home to six Soviet-designed 950-megawatt reactors built between 1984 and 1995, with a capacity of 5.7 gigawatts, enough to power more than four million homes.
It is located about 200km from the contested Donbas region and 550km south-east of Ukraine’s capital Kyiv.
The site accounts for about 20 per cent of the country’s electricity, according to its website.
The station at Zaporizhzhia supplies an estimated 40 per cent of the country’s nuclear power and, according to Mr Zelenskyy, houses six of Ukraine’s 15 reactors.
What happened on Friday morning?
The attack on the eastern city of Enerhodar and its Zaporizhzhia nuclear plant unfolded as the invasion entered its second week and another round of talks between the two sides yielded a tentative agreement to set up safe corridors to evacuate citizens and deliver humanitarian aid.
According to the Ukrainian government, a fire at the Zaporizhzhia nuclear plant started after Russian troops fired on the facility.
Andriy Tuz, a spokesman for the power plant, said early on Friday that firefighters were not able to get near the flames because they were being shot at, and Ukraine’s foreign minister tweeted a plea to the Russians to stop the assault and allow fire teams inside.
Ukrainian media later reported firefighters had been able to reach the site.
The Zaporizhzhia regional military administration then confirmed on social media that Russian forces seized the nuclear power plant during the assault.
Mr Tuz also told Ukrainian television shells were falling directly on the plant and had set fire to one of the facility’s six reactors.
That reactor is under renovation and not operating, but there is nuclear fuel inside, he said.
The International Atomic Energy Agency said the fire had not affected essential equipment and that Ukraine’s nuclear regulator reported no change in radiation levels.
How has the world reacted?
Knee-jerk losses in equity markets moderated as traders assessed the severity of the situation at the facility.
S&P 500 Index futures traded lower, while gold erased gains as demand for haven assets eased.
Bitcoin fell on Friday as reports of the attack drove risk aversion in financial markets.
The largest cryptocurrency dropped as much as 2.4 per cent to $41,093.
The second-largest, Ether, fell as much as 4.1 per cent to $2,691.
Most other top tokens were also down, according to pricing from CoinGecko.
Mariano Grossi, the IAEA’s director general, spoke with Ukrainian authorities about the nuclear power plant and warned of “severe danger” if its reactors were hit.
Confirmation from regulators that radiation levels around the site are normal, and reports that an initial fire was in an administrative building, suggest a major disaster isn’t imminent, Rose Gottemoeller, a former Nato deputy secretary general, told Bloomberg Television.
Is there a radiation threat?
The IAEA said the fire had not affected essential equipment and Ukraine’s nuclear regulator reported no change in radiation levels.
The American Nuclear Society concurred, saying the latest radiation levels remained within natural background levels.
“The real threat to Ukrainian lives continues to be the violent invasion and bombing of their country,” the group said.
Ukraine’s nuclear facilities have been a main point of concern after Russia’s military invaded the country last week and began bombarding cities with shells and missiles.
“If there is an explosion, it is the end of everything. The end of Europe,” Mr Zelenskyy warned. “Only immediate European action can stop Russian troops.”
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The Porpoise
By Mark Haddon
(Penguin Random House)
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UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
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Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
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