They are the siloviki, Russian for “men of force” — the men at the heart of President Vladimir Putin’s inner circle.
Fiercely loyal to the Kremlin line, they are Mr Putin's most trusted advisers. Many have a background in national security organisations such as the FSB, the successor to the Soviet Union's infamous KGB.
Russia watchers strongly believe that should Mr Putin ever hand over power, his successor will probably be from their number.
Sergey Shoigu, 66, General of the Army and Minister of Defence
No one has the ear of Mr Putin at the moment than Gen Shoigu, head of the armed forces. Born in Chavan, a town in southern Siberia neighbouring Mongolia, his father was an ethnic Tuvan, indigenous to the region.
Rising to become minister of emergency situations in the 1990s, he was declared a hero of the Russian Federation before becoming minister of defence in 2012. He was reappointed in 2018 and 2020.
One of the architects of Russia’s intervention in Syria, his star may rise or fall depending on what happens in Ukraine.
Igor Sechin, 61, chairman and chief executive of Rosneft
A leaked US embassy cable called him “the grey cardinal of the Kremlin”, the head of the state oil company is one of the closest siloviki to Vladimir Putin, and an oligarch.
As is the case with many of the president’s lieutenants — and they are all men — Mr Sechin comes from Leningrad, now Saint Petersburg, and was deputy prime minister from 2008 to 2012 after serving as Mr Putin’s deputy chief of staff in 2000.
Sometimes described as the president’s right-hand man, and a confidant since the early 1990s, his role at Rosneft has also made him extremely wealthy.
Mr Sechin was singled out for EU sanctions after the invasion of Ukraine, with French authorities seizing his $120 million yacht Amore Vero as it attempted to sail.
Nikolai Patrushev, 70, secretary of Russia's security council
The political hawk’s hawk, Mr Patrushev has stated that the objective of the West in Ukraine is to “destroy the Russian Federation”. Sometimes described as the second most powerful man in Russia, he was born in Leningrad and began his rise to power under the old Soviet Union.
Joining the KGB in the 1970s, he became deputy director of the FSB in 1998 and director a year later. In 2008 he was made secretary of the Russia's security council, which advises Mr Putin.
Reports say he has known Mr Putin, who was also born in Leningrad, for about 50 years.
Alexander Bortnikov, 70, director of the FSB
Mr Bortnikov is another graduate of the KGB in Leningrad, where he is said to have first worked with Mr Putin. He was appointed director of the FSB in 2008, responsible for a huge network of agents that control all aspects of life in Russia, effectively strengthening Mr Putin’s grip.
His son, Dennis, is chairman of state-run VTB bank, which was hit with sanctions by US President Joe Biden, along with his father.
Sergey Naryshkin, 67, director of the Foreign Intelligence Service
An economist and engineer by training, Mr Naryshkin studied at the Higher School of the KGB alongside Mr Putin and was appointed head of foreign intelligence in 2016.
On the eve of the invasion of Ukraine, Mr Naryshkin was publicly dressed down during a televised session of the National Security Council after he stuttered and fluffed the official line on Russia’s recognition of the Ukrainian enclaves of Donetsk and Luhansk, with Mr Putin telling him to “speak plainly”.
If it was also his advice as spy chief to Mr Putin that Russian soldiers would be welcomed as liberators by the people of Ukraine, his standing will be further eroded.
Sergey Ivanov, 69, special representative to the president
More important than his current role is Mr Ivanov’s close friendship with Mr Putin, forged in the KGB, where he eventually become the Russian president’s deputy.
He assumed the same role with the FSB, becoming minister of defence in 2001.
A hawk, he refused to rule out a nuclear first strike if it was in Russia’s interests, and argued strongly in a favour of military intervention in Syria. He also dismissed the fatal poisoning of FSB defector Alexander Litvinenko in 2006, saying he was “nothing. We didn't care what he said and what he wrote on his deathbed”.
He was placed under sanctions by the US after the invasion of Ukraine.
Dmitry Rogozin, 58, director general of Russian space agency Roscosmos
A former deputy prime minister and ambassador to Nato, Mr Rogozin was appointed head of Roscosmos in 2018.
A strong defender of Russian minorities in a number of former Soviet countries, he is outspoken on intervention, saying in 2015 that “tanks don’t need visas”.
He publicly threatened to detach the Russian section that provides propulsion to the International Space Station, sparking concerns that Moscow will let the station crash to Earth, and to abandon a Nasa astronaut in space as a result of America’s opposition to the Ukraine invasion.
Vyacheslav Volodin, 58, chairman of the State Duma
Mr Volodin is a politician in the lower house of the Russian parliament and former deputy prime minister. One of a new generation of younger siloviki, he is a former aide to Mr Putin and worked on his last election campaign.
He has been named as a possible successor should Mr Putin step down in the future.
Results
5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi
5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami
6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar
7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed
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.
WORLD RECORD FEES FOR GOALKEEPERS
1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)
2) Alisson, Roma to Liverpool (£67m)
3) Ederson, Benfica to Manchester City (£35m)
4) Gianluigi Buffon, Parma to Juventus (£33m)
5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m
Zayed Sustainability Prize
UAE currency: the story behind the money in your pockets
Pathaan
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The%20specs
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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
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.”
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
Recipe: Spirulina Coconut Brothie
Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)
Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy.
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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The specs: Volvo XC40
Price: base / as tested: Dh185,000
Engine: 2.0-litre, turbocharged in-line four-cylinder
Gearbox: Eight-speed automatic
Power: 250hp @ 5,500rpm
Torque: 350Nm @ 1,500rpm
Fuel economy, combined: 10.4L / 100km
Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
BEACH SOCCER WORLD CUP
Group A
Paraguay
Japan
Switzerland
USA
Group B
Uruguay
Mexico
Italy
Tahiti
Group C
Belarus
UAE
Senegal
Russia
Group D
Brazil
Oman
Portugal
Nigeria
Fifa Club World Cup quarter-final
Kashima Antlers 3 (Nagaki 49’, Serginho 69’, Abe 84’)
Guadalajara 2 (Zaldivar 03’, Pulido 90')
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Honeymoonish
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