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The Czech Republic became the first Nato country to send weaponry to aid Ukraine in its war with Russia not specifically designated for the purposes of defence.
Nato Secretary General Jens Stoltenberg was reticent when pressed for details on Wednesday, but did not deny the shipment had been ratified by the alliance after the Kyiv Post tweeted footage of the ordnance arriving by train.
“I will not go into all details of exactly what kind of weapons, equipment allies are providing,” he said.
“But I can say that the totality of what allies are doing is significant and that includes also some heavier systems combined with lighter systems.”
In the early stages of Russia's invasion, Vladimir Putin warned that direct Nato aid for the besieged country would be met with a nuclear response.
Although the T-72 tanks and BVP-1 infantry fighting vehicles may not be manned by Nato personnel, their deployment ups the ante and marks a shift in the alliance's policy of only sending defensive weapons to assist the Ukrainian resistance.
T-72 tanks were first made in Russia in the late 1960s with the aim of inflicting damage on Nato forces stationed in Germany during the Cold War.
T-72s' battlefield omnipresence
The T-72 is “the most widely used main battle tank in the world”, according to the Tank Museum in Dorset, UK.
Today, the low-profile tank is in service with 35 nations and over the years since its manufacture has been used in many major wars in countries including Afghanistan, Iraq, Iran, Sri Lanka, Sierra Leone, Croatia, the Czech Republic and Syria, among others.
The T-72 was initially designed as a budget yet more reliable alternative to its T-64 predecessor, and first entered service with the Soviet army in 1973.
The prototype T-72 was protected by composite armour and was able to withstand the anti-tank guided missiles of the day. Should it have caught fire, automatic fire extinguishing equipment came as standard, while its interior was lined with an anti-radiation coating which also served as a spall liner.
Over the years, the T-72 has received various updates, and is now in its third generation in the shape of the T-72B3 and T-72B3M — the latter having been used by Russia since 2014 in both the Crimea and Syria.
The T-72 has always been characterised by its low profile and these contemporaneous versions are no exception.
The distinctive design feature shortens the vehicle's silhouette, affording its occupants greater protection.
The T-72B3 uses Kontakt-5 explosive reactive armour and its V-92s2F engine propels it to a maximum speed of 43mph and distance of 311 miles. A new steering system also improves the tank's agility.
More than 7,000 base model T-72s are currently mothballed, but Russia has said they can be upgraded to T-72B3s with ease.
Although its turret is known to be susceptible to American Javelin anti-tank missiles, the sheer volume of the tanks in storage is more than adequate compensation.
The number certainly dwarfs the 2,500-odd tanks at the disposal of the Ukrainian army which are a combination of T-64s and T-72s.
The weapons sent to help Ukraine — in pictures
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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
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Results
1.30pm Handicap (PA) Dh50,000 (Dirt) 1,400m
Winner Al Suhooj, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)
2pm Handicap (TB) 68,000 (D) 1,950m
Winner Miracle Maker, Xavier Ziani, Salem bin Ghadayer
2.30pm Maiden (TB) Dh60,000 (D) 1,600m
Winner Mazagran, Tadhg O’Shea, Satish Seemar
3pm Handicap (TB) Dh84,000 (D) 1,800m
Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer
3.30pm Handicap (TB) Dh76,000 (D) 1,400m
Winner Alla Mahlak, Adrie de Vries, Rashed Bouresly
4pm Maiden (TB) Dh60,000 (D) 1,200m
Winner Hurry Up, Royston Ffrench, Salem bin Ghadayer
4.30pm Handicap (TB) Dh68,000 (D) 1,200m
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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.”
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
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Rating: 4.5/5
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.