Blasts in a Russian-occupied part of Moldova sparked fears of a potential spillover from the war in neighbouring Ukraine. EPA
Blasts in a Russian-occupied part of Moldova sparked fears of a potential spillover from the war in neighbouring Ukraine. EPA
Blasts in a Russian-occupied part of Moldova sparked fears of a potential spillover from the war in neighbouring Ukraine. EPA
Blasts in a Russian-occupied part of Moldova sparked fears of a potential spillover from the war in neighbouring Ukraine. EPA

Russia accused of using occupied Moldova region 'to stage false-flag attacks'


Laura O'Callaghan
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Live updates: follow the latest news on Russia-Ukraine

A Russian-backed breakaway region of Moldova is fast becoming the new front in the war as Russia steps up its offensive in the southern Ukraine.

The Kremlin is accused of staging "false-flag attacks" in Transnistria, a region in Moldova which it occupies.

The interior ministry of Transnistria said on Wednesday that shots were fired at a village housing a Russian arms depot after drones flew over from Ukraine.

"Last night, several drones were noticed in the sky over the village of Kolbasna," the Transnistrian interior ministry said on its website. "The drones were launched on to the territory of Transnistria from Ukraine."

The developments came as Russia intensified attacks on the Black Sea port city of Odesa, which lies less than 160 kilometres east of Transnistria.

A vital bridge in the Odesa region was hit by missiles on Wednesday, a day after several blasts shook Transnistria.

The bridge near the town of Zatoka, 60 kilometres south of Odesa, was damaged in the attack, said Oleksandr Kamyshin, chief executive of Ukraine’s railway operator.

“Today, at 06.45am, the bridge over the Bilhorod-Dnistrovskyi estuary in Odesa region was again hit with missile strikes,” Mr Kamyshin wrote on the Telegram messaging app. There were no reported casualties among railway workers, he said.

Lesia Vasylenko, a Ukrainian MP, said the destruction of the bridge cut off three districts and passage to the border with Romania.

The same bridge was hit by a missile on Tuesday. The dramatic moment was captured on video and posted online. A huge cloud of smoke can be seen rising in the distance after a loud explosion was heard.

Moldovan officials arranged an emergency meeting on Tuesday, with security forces put on high alert after a series of blasts that destroyed radio antennae.

The explosions stoked fears of a potential spillover from the war in neighbouring Ukraine.

The Institute for the Study of War, a US think tank, said Moscow had used the region to stage “false-flag attacks”.

The region is internationally recognised as part of Moldova but is occupied by Russian forces.

The ISW said Russian battalions stationed in Transnistria were probably “not sufficient” to stage an attack on Odesa by themselves. However, experts noted that troops in the region could support Russian forces in attacking the Ukrainian city.

“Russia is staging false-flag attacks in Transnistria, Moldova ... setting conditions for further actions on that front,” the ISW said.

“The two motorised rifle battalions Russia has illegally maintained in Transnistria since the end of the Cold War are not likely sufficient to mount a credible attack on Odesa by themselves, nor are the Russians likely to be able to reinforce them enough to allow them to do so. They could support more limited attacks to the north-west of Odesa, possibly causing panic and creating psychological effects to benefit Russian operations in the south of Ukraine.”

Tension between the Kremlin and the West was exacerbated on Wednesday with Russia’s announcement that it would cut gas supplies to Nato and EU members Poland and Bulgaria.

Gazprom, the state-owned energy producer, said it would cease deliveries to the two countries because they had refused to pay in Russian roubles, as President Vladimir Putin had demanded.

European gas prices shot up, prompting EU Commission President Ursula von der Leyen to accuse the Kremlin of blackmail.

The move came a day after the US and western allies vowed to speed up and improve military supplies to Kyiv.

Polish Prime Minister Mateusz Morawiecki told the parliament in Warsaw that the country would not be cowed by the gas cut-off.

  • UN Secretary General Antonio Guterres visits Borodyanka, near Kyiv, where Russian forces are accused of killing civilians. AFP
    UN Secretary General Antonio Guterres visits Borodyanka, near Kyiv, where Russian forces are accused of killing civilians. AFP
  • Children play in the wreckage of a Russian armoured vehicle in Lukashivka, Chernihiv region, northern Ukraine. The village has been retaken by Ukrainian forces. EPA
    Children play in the wreckage of a Russian armoured vehicle in Lukashivka, Chernihiv region, northern Ukraine. The village has been retaken by Ukrainian forces. EPA
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    A cyclist passes a destroyed building in Derhachi village, near besieged city Kharkiv, in north-eastern Ukraine. AFP
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    Burnt-out wreckage of a tank in Kolychivka village, Chernihiv region, northern Ukraine. EPA
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    A Ukrainian flag flies in a park in Kramatorsk, Donetsk region, eastern Ukraine. A rocket attack on the city railway station earlier in April killed at least 50 people. AFP
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    Russian President Vladimir Putin addresses a meeting of MPs in St Petersburg. EPA
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    Youngsters Faddei and Oleksandr play in front of a church damaged during Russia's invasion of Ukraine, in the Chernihiv region. Reuters
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    A demonstrator turns emotional as she attends a rally in Kyiv demanding a humanitarian corridor to rescue civilians from Mariupol. Reuters
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    A Ukrainian Sukhoi Su-25 releases decoy flares as it provides air support to Ukrainian ground forces near central city of Yampil. AFP
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    An officer from National Guard of Ukraine surveys weapons left behind by Russian troops in Chernobyl. AFP
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    Mr Putin attends a meeting with UN Secretary General Antonio Guterres in Moscow. Reuters
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    Members of a team from the International Atomic Energy Agency carry equipment as they arrive at the Chernobyl nuclear power plant, in Chernobyl, Ukraine. AP
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    Ukrainian troops fire rockets from the city of Popasna, near Luhansk. EPA
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    Lithuanian musician Darius Mazintas plays a piano in front of the Central House of Culture destroyed during Russia's invasion, in the town of Irpin, outside Kyiv. Reuters
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    Ukrainian refugees Julia, second left, 32, and Miroslava, left, 11, walk away with relatives who received them after they crossed into Poland from Ukraine at the Dorohusk border. AFP
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    Russian Foreign Minister Sergey Lavrov meets Mr Guterres in Moscow. AFP
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    US Chairman of the Joint Chiefs of Staff Gen Mark Milley, left, US Secretary of Defence Lloyd Austin, second left, and Ukrainian Minister of Defence Oleksii Reznikov, right, attend the Ukraine Security Consultative Group meeting at Ramstein airbase in Ramstein-Miesenbach, Germany. Getty Images
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    Smoke rises from an oil terminal hit by fire in Bryansk, Russia. AP
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    People take pictures by the wreckage of a Russian military vehicle, in the village of Rusaniv, Kyiv region. Reuters
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    Smoke rises above the Azovstal Iron and Steel Works plant amid fighting in Mariupol, Ukraine. Reuters
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    People carry a large Ukrainian flag as they attend a rally to mark the 77th anniversary of Liberation Day in Milan, Italy. The day remembers Italians who fought against the Nazis and Mussolini's troops during the Second World War. EPA
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    A Ukrainian soldier looks at a Russian ballistic missile's booster stage that fell in a field in Bohodarove, eastern Ukraine. AFP
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    People watch as a residential building burns after Russian bombardment in Kharkiv, Ukraine. AP
  • Ukraine's President Volodymyr Zelenskyy meets US Secretary of State Antony Blinken and US Defence Secretary Lloyd Austin. Reuters
    Ukraine's President Volodymyr Zelenskyy meets US Secretary of State Antony Blinken and US Defence Secretary Lloyd Austin. Reuters
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    Russian President Vladimir Putin attends the Orthodox Easter service at the Cathedral of Christ the Saviour in Moscow. EPA
  • A young girl in front of people carrying a huge Ukrainian flag during a peaceful demonstration entitled 'Solidarity with Ukraine' in Krakow, Poland. Reuters
    A young girl in front of people carrying a huge Ukrainian flag during a peaceful demonstration entitled 'Solidarity with Ukraine' in Krakow, Poland. Reuters
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    A boy stands next to a wrecked vehicle in front of an apartment damaged during the conflict in the southern port city of Mariupol. Reuters
  • This satellite image from Planet Labs PBC shows damage at the Azovstal steelworks in Mariupol, Ukraine. AP
    This satellite image from Planet Labs PBC shows damage at the Azovstal steelworks in Mariupol, Ukraine. AP
  • A Ukrainian man rides in front of a destroyed building in Kharkiv which had been shelled by the Russians. EPA
    A Ukrainian man rides in front of a destroyed building in Kharkiv which had been shelled by the Russians. EPA
  • A Ukrainian Territorial Defence fighter in a shelter with an Easter Cake near Kharkiv. Ukrainians mark Orthodox Easter today. EPA
    A Ukrainian Territorial Defence fighter in a shelter with an Easter Cake near Kharkiv. Ukrainians mark Orthodox Easter today. EPA
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    Residents receive Easter cakes and apples handed out by pro-Russian troops on Easter Day at the Svyato-Troitsky Church in the southern port city of Mariupol. Reuters
  • A woman photographs the scene of yesterday's shelling in the southern Ukraine city of Odesa. Eight people were killed, including a three-month child, and about 20 were wounded. EPA
    A woman photographs the scene of yesterday's shelling in the southern Ukraine city of Odesa. Eight people were killed, including a three-month child, and about 20 were wounded. EPA
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    A military chaplain blesses Ukrainian soldiers on the occasion of Orthodox Easter not far from the city of Izyum in Kharkiv. EPA
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    An internally displaced man walks with dogs in the Palace of Culture, which was damaged by shelling in Rubizhne, eastern Ukraine. AFP
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    Tulips grow next to a building destroyed by shelling in Rubizhne. AFP
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    Internally displaced people wait to receive food inside a factory that has been turned into a shelter, in Severodonetsk. AFP
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    Members of the Ukrainian Red Cross carry a woman, 92, to an ambulance from a bunker at a factory in Severodonetsk. AFP
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    Ambulance workers move an injured Ukrainian serviceman to a hospital in Donetsk. AP
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    A woman sits inside a subway station that has been turned into a shelter, on the outskirts of second largest Ukrainian city, Kharkiv. AFP
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    Residents shelter in a subway station in Kharkiv. AFP
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    Anastasiya Kryvoho attends a candlelight vigil for Ukraine on the Orthodox Holy Saturday, in Toronto, Canada. Reuters
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    Ukrainian President Volodymyr Zelenskyy addresses a press conference with international media in an underground metro station in Kyiv. AFP
  • Firefighters work at the scene of a fire after shelling in Kharkiv, Ukraine. EPA
    Firefighters work at the scene of a fire after shelling in Kharkiv, Ukraine. EPA
  • A family from Myrne, a town occupied by Russian forces, wait to register with police at an evacuation point for people fleeing from Mariupol, Melitopol and surrounding towns. Getty Images
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    Residents walk near a damaged military vehicle in an area controlled by Russian-backed separatist forces in Mariupol. AP
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    A heavily damaged apartment building in Horenka. Getty Images
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    Residents wrapped in blankets stand near their houses damaged by Russian shelling in Odesa. AP
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    A Ukrainian flag is installed on top of a gob pile in Lysychans, eastern Ukraine. AFP
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    A Ukrainian soldier rests at a checkpoint in Severodonetsk. AFP
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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20JustClean%3Cbr%3E%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20with%20offices%20in%20other%20GCC%20countries%3Cbr%3E%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202016%3Cbr%3E%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20160%2B%20with%2021%20nationalities%20in%20eight%20cities%3Cbr%3E%3Cstrong%3E%3Cbr%3ESector%3A%3C%2Fstrong%3E%20online%20laundry%20and%20cleaning%20services%3Cbr%3E%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%2430m%20from%20Kuwait-based%20Faith%20Capital%20Holding%20and%20Gulf%20Investment%20Corporation%3C%2Fp%3E%0A
The bio:

Favourite film:

Declan: It was The Commitments but now it’s Bohemian Rhapsody.

Heidi: The Long Kiss Goodnight.

Favourite holiday destination:

Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.

Heidi: Australia but my dream destination would be to go to Cuba.

Favourite pastime:

Declan: I love brunching and socializing. Just basically having the craic.

Heidi: Paddleboarding and swimming.

Personal motto:

Declan: Take chances.

Heidi: Live, love, laugh and have no regrets.

 

Tenet

Director: Christopher Nolan

Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh 

Rating: 5/5

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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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Updated: April 27, 2022, 11:37 AM