A young boy stands in front of a damaged building after a strike in Kramatorsk in the eastern Ukranian region of Donbas. AFP
A young boy stands in front of a damaged building after a strike in Kramatorsk in the eastern Ukranian region of Donbas. AFP
A young boy stands in front of a damaged building after a strike in Kramatorsk in the eastern Ukranian region of Donbas. AFP
A young boy stands in front of a damaged building after a strike in Kramatorsk in the eastern Ukranian region of Donbas. AFP

Ukraine war at 'maximum intensity' as Russia shells 40 towns


Paul Carey
  • English
  • Arabic

Ukraine said on Thursday that fighting in the eastern Donbas had reached its fiercest level yet, as Russian forces pushed deeper into the industrial region.

Russia shelled more than 40 towns in the region, destroying nearly a dozen high-rise buildings, authorities said. Moscow's forces sought to surround their Ukrainian foes, outnumbering them in some places.

Russia has poured thousands of troops into the region, attacking from three sides in an attempt to encircle Ukrainian forces holding out in the city of Sievierodonetsk and its twin Lysychansk. Their fall would leave the whole of Luhansk province under Russian control, a pivotal Kremlin goal.

"The occupiers shelled more than 40 towns in Donetsk and Luhansk region, destroying or damaging 47 civilian sites, including 38 homes and a school. As a result of this shelling, five civilians died and 12 were wounded," the Joint Task Force of Ukraine's armed forces said on Facebook.

The statement said 10 enemy attacks were repelled, four tanks and four drones destroyed, and 62 "enemy soldiers" were killed.

Ukraine's Deputy Defence Minister Ganna Malyar told a press briefing: "The fighting has reached its maximum intensity.

"Enemy forces are storming the positions of our troops simultaneously in several directions. We have an extremely difficult and long stage of fighting ahead of us," she added.

Ukraine President Volodymyr Zelenskyy's office said 11 high-rise buildings were destroyed.

Mr Zelenskyy has said Russian troops heavily outnumber Ukrainian forces in some parts of the east and Kyiv has been trying unsuccessfully to arrange a prisoner swap with Moscow.

A man stands on the balcony of his destroyed apartment in Bakhmut, Donbas. AFP
A man stands on the balcony of his destroyed apartment in Bakhmut, Donbas. AFP

The Ukrainian leader also strongly rebuffed those in the West who have suggested Ukraine should cede control of areas occupied by Russian forces to reach a peace agreement.

Those “great geopoliticians” who suggest this are disregarding the interests of ordinary Ukrainians — “the millions of those who actually live on the territory that they propose exchanging for an illusion of peace", he said in his nightly video address to the nation. He was referring to comments made at the World Economic Forum in Davos by the former Henry Kissinger, the former US Secretary of State, who said Ukraine should be willing to cede some territory in pursuit of peace.

“We always have to think of the people and remember that values are not just words."

In an Instagram post accompanying the message, Mr Zelenskyy said: “No matter what the Russian state does, there is always someone who says: 'Let's take its interests into account.'

"This year in Davos it was heard again, despite thousands of Russian missiles hitting Ukraine, despite tens of thousands of Ukrainians killed, despite Bucha and Mariupol, et cetera. Despite the destroyed cities.

"And despite the 'filtration camps' built by the Russian state, in which they kill, torture, rape and humiliate like on a conveyor belt. Russia has done all this in Europe.

Ukrainian President Volodymyr Zelenskyy during a meeting with Finnish Prime Minister Sanna Marin in Kyiv on Thursday. EPA
Ukrainian President Volodymyr Zelenskyy during a meeting with Finnish Prime Minister Sanna Marin in Kyiv on Thursday. EPA

"But still in Davos, for example, Mr Kissinger emerges from the deep past and says that a piece of Ukraine should be given to Russia, so that there is no alienation of Russia from Europe.”

Meanwhile, Moscow pressed the West on Thursday to lift sanctions against Russia over the war. The Kremlin is seeking to shift the blame for a growing food crisis, worsened by Kyiv’s inability to ship millions of tonnes of grain and other agricultural products, because of the conflict.

Ukraine is one of the world’s largest exporters of wheat, corn and sunflower oil. However, the war, including a Russian blockade of its ports, has prevented much of that production from leaving the country, endangering the world food supply. Many of those ports are also now heavily mined.

  • Service members of pro-Russian troops drive a tank past a destroyed residential building in the town of Popasna in the Luhansk region, Ukraine. Reuters
    Service members of pro-Russian troops drive a tank past a destroyed residential building in the town of Popasna in the Luhansk region, Ukraine. Reuters
  • Smoke and dirt rise from the city of Severodonetsk during shelling in the eastern Ukrainian region of Donbas. AFP
    Smoke and dirt rise from the city of Severodonetsk during shelling in the eastern Ukrainian region of Donbas. AFP
  • Russian soldiers Alexander Alexeevich Ivanov and Alexander Vladimirovich Bobykin, left, attend their trial hearing in Kotelva, northeastern Ukraine. AP Photo
    Russian soldiers Alexander Alexeevich Ivanov and Alexander Vladimirovich Bobykin, left, attend their trial hearing in Kotelva, northeastern Ukraine. AP Photo
  • Ukrainian President Volodymyr Zelenskyy, right, meets with Finnish Prime Minister Sanna Marin in Kyiv, Ukraine. AP
    Ukrainian President Volodymyr Zelenskyy, right, meets with Finnish Prime Minister Sanna Marin in Kyiv, Ukraine. AP
  • A man drives a GAZ-21 Volga car past a damaged building in Kharkiv, eastern Ukraine, on the 92nd day of the Russian invasion of Ukraine. AFP
    A man drives a GAZ-21 Volga car past a damaged building in Kharkiv, eastern Ukraine, on the 92nd day of the Russian invasion of Ukraine. AFP
  • Public transit workers sweep up shrapnel in Kharkiv, Ukraine. Getty Images
    Public transit workers sweep up shrapnel in Kharkiv, Ukraine. Getty Images
  • Pro-Russian troops inspect an AT4 anti-tank launcher outside the town of Svitlodarsk in the Donetsk region, Ukraine. Reuters
    Pro-Russian troops inspect an AT4 anti-tank launcher outside the town of Svitlodarsk in the Donetsk region, Ukraine. Reuters
  • People inspect destroyed Russian tanks and armoured vehicles in Irpin, Ukraine. Getty Images
    People inspect destroyed Russian tanks and armoured vehicles in Irpin, Ukraine. Getty Images
  • A local resident pets a cat next to a destroyed house in Vilkhivka village, near Kharkiv, Ukraine. AFP
    A local resident pets a cat next to a destroyed house in Vilkhivka village, near Kharkiv, Ukraine. AFP
  • The remains of a school in Vilkhivka village, near Kharkiv. AFP
    The remains of a school in Vilkhivka village, near Kharkiv. AFP
  • Widow and daughter of Andriy Vertiev, a Ukrainian serviceman, killed during the Russian invasion of Ukraine, attend his funeral at Lychakiv cemetery, Lviv, Ukraine. AFP
    Widow and daughter of Andriy Vertiev, a Ukrainian serviceman, killed during the Russian invasion of Ukraine, attend his funeral at Lychakiv cemetery, Lviv, Ukraine. AFP
  • Russian serviceman Vadim Shishimarin, centre, leaves a court hearing in Kyiv. EPA
    Russian serviceman Vadim Shishimarin, centre, leaves a court hearing in Kyiv. EPA
  • Kateryna Shelikhova, widow of Oleksandr Shelipov, 62, who was shot dead by a Russian soldier. Reuters
    Kateryna Shelikhova, widow of Oleksandr Shelipov, 62, who was shot dead by a Russian soldier. Reuters
  • A child plays against a backdrop of buildings ruined by shelling in Borodyanka, Ukraine. AP
    A child plays against a backdrop of buildings ruined by shelling in Borodyanka, Ukraine. AP
  • A Ukrainian woman in the basement of a building used as bomb shelter in Soledar, Donetsk region. AP
    A Ukrainian woman in the basement of a building used as bomb shelter in Soledar, Donetsk region. AP
  • Residents live in a subway station used as temporary shelter in Kharkiv. AP
    Residents live in a subway station used as temporary shelter in Kharkiv. AP
  • Men with salvageable material from damaged buildings after Russian bombing in Bakhmut, eastern Ukraine. AP
    Men with salvageable material from damaged buildings after Russian bombing in Bakhmut, eastern Ukraine. AP
  • A cuddly toy adorns a destroyed Russian battle tank near damaged homes in Hostomel, Ukraine. Getty Images
    A cuddly toy adorns a destroyed Russian battle tank near damaged homes in Hostomel, Ukraine. Getty Images
  • A mortar explodes next to a road leading to the city of Lysychansk, in the eastern Ukrainian region of Donbas. AFP
    A mortar explodes next to a road leading to the city of Lysychansk, in the eastern Ukrainian region of Donbas. AFP
  • A Ukrainian army vehicle moves towards the front line at a checkpoint near Lysychansk. AFP
    A Ukrainian army vehicle moves towards the front line at a checkpoint near Lysychansk. AFP
  • A boy looks at flags honouring soldiers killed while fighting Russian troops, in Kyiv city centre. AP
    A boy looks at flags honouring soldiers killed while fighting Russian troops, in Kyiv city centre. AP
  • A mannequin with a fake gun is placed as bait on a roadside in the Nord Saltivka district of Kharkiv. EPA
    A mannequin with a fake gun is placed as bait on a roadside in the Nord Saltivka district of Kharkiv. EPA
  • A man looks at a destroyed Russian tank placed as a symbol of war, in central Kyiv. AP
    A man looks at a destroyed Russian tank placed as a symbol of war, in central Kyiv. AP
  • Ukraine's President Volodymyr Zelenskyy on a screen at the opening ceremony for the World Economic Forum in Davos, Switzerland. Reuters
    Ukraine's President Volodymyr Zelenskyy on a screen at the opening ceremony for the World Economic Forum in Davos, Switzerland. Reuters
  • Smoke billows from an oil refinery after an attack outside the city of Lysychansk, in the eastern Ukrainian region of Donbas. AFP
    Smoke billows from an oil refinery after an attack outside the city of Lysychansk, in the eastern Ukrainian region of Donbas. AFP
  • A woman walks by a destroyed apartment building in Bakhmut, Donbas region. AFP
    A woman walks by a destroyed apartment building in Bakhmut, Donbas region. AFP
  • An elderly woman stands inside her heavily damaged house after it was hit by a missile in Bakhmut. AFP
    An elderly woman stands inside her heavily damaged house after it was hit by a missile in Bakhmut. AFP
  • A mother with her daughter sit inside a bus as they leave Bakhmut. AFP
    A mother with her daughter sit inside a bus as they leave Bakhmut. AFP
  • A Ukrainian soldier prepares coffee as he takes a break near an artillery position in the breakaway enclave of Donetsk, in the Donbas region. Reuters
    A Ukrainian soldier prepares coffee as he takes a break near an artillery position in the breakaway enclave of Donetsk, in the Donbas region. Reuters
  • A Ukrainian soldier exercises near Donetsk. Reuters
    A Ukrainian soldier exercises near Donetsk. Reuters
  • A woman displaced by incessant Russian shelling leaves a metro station where people had been living underground for months in Kharkiv, Ukraine. Getty
    A woman displaced by incessant Russian shelling leaves a metro station where people had been living underground for months in Kharkiv, Ukraine. Getty
  • A heavily damaged home spa near Ruski Tyshky village in Ukraine. Getty
    A heavily damaged home spa near Ruski Tyshky village in Ukraine. Getty
  • The wreckage of a Ukrainian military helicopter is transported in Kharkiv. Getty
    The wreckage of a Ukrainian military helicopter is transported in Kharkiv. Getty
  • Ukrainian President Volodymyr Zelenskyy and Polish President Andrzej Duda in Kyiv. EPA
    Ukrainian President Volodymyr Zelenskyy and Polish President Andrzej Duda in Kyiv. EPA
  • Two Ukrainian national guard soldiers pay their respects at a cemetery in Kharkiv. AP
    Two Ukrainian national guard soldiers pay their respects at a cemetery in Kharkiv. AP
  • A man pushes a wheelbarrow past a heavily damaged apartment building near Azovstal Iron and Steel Works in Mariupol. Reuters
    A man pushes a wheelbarrow past a heavily damaged apartment building near Azovstal Iron and Steel Works in Mariupol. Reuters
  • The burnt out shells of cars in a residential area near Azovstal Iron and Steel Works in Mariupol. Reuters
    The burnt out shells of cars in a residential area near Azovstal Iron and Steel Works in Mariupol. Reuters
  • Pro-Russian troops drive a tank in Ukraine's Donetsk region. Reuters
    Pro-Russian troops drive a tank in Ukraine's Donetsk region. Reuters
  • A Russian soldier takes a break during an operation to demine the territory of Azovstal steel plant in Mariupol. Reuters
    A Russian soldier takes a break during an operation to demine the territory of Azovstal steel plant in Mariupol. Reuters
  • Relatives and friends attend the funeral of a Ukrainian soldier killed in action, in the Odessa region city of Rozdilna. EPA
    Relatives and friends attend the funeral of a Ukrainian soldier killed in action, in the Odessa region city of Rozdilna. EPA
  • Ukrainians wearing traditional clothing listen to their national anthem as they take part in the celebration of 'Vyshyvanka Day', an annual celebration of Ukrainian folk traditions, in Athens. AFP
    Ukrainians wearing traditional clothing listen to their national anthem as they take part in the celebration of 'Vyshyvanka Day', an annual celebration of Ukrainian folk traditions, in Athens. AFP

Kremlin spokesman Dmitry Peskov tried to put the blame for the crisis squarely on Western sanctions.

“We accuse Western countries of taking a series of unlawful actions that has led to the blockade,” he said in a conference call with reporters.

Russia itself is also a significant exporter of grain, and Mr Peskov said the West “must cancel the unlawful decisions that hamper chartering ships and exporting grain.”

British Foreign Secretary Liz Truss said on Thursday that Russian President Vladimir Putin was “trying to hold the world to ransom” by demanding that some sanctions be lifted before allowing Ukrainian grain shipments to resume.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The biog

Siblings: five brothers and one sister

Education: Bachelors in Political Science at the University of Minnesota

Interests: Swimming, tennis and the gym

Favourite place: UAE

Favourite packet food on the trip: pasta primavera

What he did to pass the time during the trip: listen to audio books

Allardyce's management career

Clubs (10) - Limerick (1991-1992), Perston North End (1992), Blackpool (1994-1996), Notts County (1997-1999), Bolton Wanderers (1999-2007), Newcastle United (2007-2008), Blackburn Rovers (2008-2010), West Ham United (2011-2015), Sunderland (2016), Crystal Palace (2016-2017)

Countries (1) - England (2016)

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

BRIEF SCORES

England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)  
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)

Result: England won by 239 runs
England lead four-match series 2-1

Dr Graham's three goals

Short term

Establish logistics and systems needed to globally deploy vaccines


Intermediate term

Build biomedical workforces in low- and middle-income nations


Long term

A prototype pathogen approach for pandemic preparedness  

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
Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

Expert advice

“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”

Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles

“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”

Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre 

“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”

Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
 

Signs%20of%20%20%20%20%20%20%20heat%20stroke
%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A

The Disaster Artist

Director: James Franco

Starring: James Franco, Dave Franco, Seth Rogan

Four stars

How Sputnik V works
No more lice

Defining head lice

Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.

Identifying lice

Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.

Treating lice at home

Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.

Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Golden Shoe top five (as of March 1):

Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points

Race%20card
%3Cp%3E6pm%3A%20Al%20Maktoum%20Challenge%20Round%201%20%E2%80%93%20Group%201%20(PA)%20%2450%2C000%20(Dirt)%201%2C600m%3Cbr%3E6.35pm%3A%20Dubai%20Racing%20Club%20Classic%20%E2%80%93%20Handicap%20(TB)%20%24100%2C000%20(D)%202%2C410m%3Cbr%3E7.10pm%3A%20Dubawi%20Stakes%20%E2%80%93%20Group%203%20(TB)%20%24150%2C000%20(D)%201%2C200m%3Cbr%3E7.45pm%3A%20Jumeirah%20Classic%20Trial%20%E2%80%93%20Conditions%20(TB)%20%24150%2C000%20(Turf)%201%2C400m%3Cbr%3E8.20pm%3A%20Al%20Maktoum%20Challenge%20Round%201%20%E2%80%93%20Group%202%20(TB)%20%24250%2C000%20(D)%201%2C600m%3Cbr%3E8.55pm%3A%20Al%20Fahidi%20Fort%20%E2%80%93%20Group%202%20(TB)%20%24180%2C000%20(T)%201%2C400m%3Cbr%3E9.30pm%3A%20Ertijaal%20Dubai%20Dash%20%E2%80%93%20Listed%20(TB)%20%24100%2C000%20(T)%201%2C000m%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.”

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Updated: May 26, 2022, 3:37 PM