Russian Foreign Minister Sergey Lavrov at a ceremony to receive credentials from newly appointed foreign ambassadors to Russia at the Kremlin in Moscow on Wednesday. AP
Russian Foreign Minister Sergey Lavrov at a ceremony to receive credentials from newly appointed foreign ambassadors to Russia at the Kremlin in Moscow on Wednesday. AP
Russian Foreign Minister Sergey Lavrov at a ceremony to receive credentials from newly appointed foreign ambassadors to Russia at the Kremlin in Moscow on Wednesday. AP
Russian Foreign Minister Sergey Lavrov at a ceremony to receive credentials from newly appointed foreign ambassadors to Russia at the Kremlin in Moscow on Wednesday. AP

Lavrov says Russia and US are in 'hot phase of war'


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Russian Foreign Minister Sergey Lavrov has said Moscow and Washington are “in a hot phase of the war” over US supplies of weapons to Ukraine.

Moscow must maintain relations with the US, Mr Lavrov told state television.

Russia had not yet lost hope that the US would “wake up to reason (and) will resume some kind of dialogue”, he said on Wednesday.

“We are really in a hot phase of a war because Ukrainian Nazis are fighting mostly with US weapons,” Mr Lavrov said in the comments that were posted to Telegram by reporter Pavel Zarubin.

Mr Lavrov said the US administration “each time threatens to supply systems that have an ever-greater range and deadliness” to Ukraine.

“At least, we do not lose hope that the minds of the Americans will wake up, and they will resume some kind of dialogue. We’ll see, we don’t have long to wait,” Mr Lavrov said.

Separately on Wednesday, Russian President Vladimir Putin told the new US and EU ambassadors that their countries were responsible for a deterioration in relations since Russia sent its armed forces into Ukraine last year.

The ambassadors were among 17 who presented their diplomatic credentials to Mr Putin at a televised ceremony in the Kremlin.

  • Ukrainian soldiers fire a howitzer towards Russian positions, near Bakhmut in Ukraine. AP
    Ukrainian soldiers fire a howitzer towards Russian positions, near Bakhmut in Ukraine. AP
  • Resident Svetlana Boiko, 66, who was wounded in recent shelling, is comforted near her destroyed house in Donetsk. Reuters
    Resident Svetlana Boiko, 66, who was wounded in recent shelling, is comforted near her destroyed house in Donetsk. Reuters
  • A wounded Ukrainian soldier is treated in a front-line stabilisation ambulance, near Kreminna. Reuters
    A wounded Ukrainian soldier is treated in a front-line stabilisation ambulance, near Kreminna. Reuters
  • A house in Donetsk destroyed in recent shelling. Reuters
    A house in Donetsk destroyed in recent shelling. Reuters
  • Ukrainian volunteer soldiers hold their positions at the front line near Bakhmut. AFP
    Ukrainian volunteer soldiers hold their positions at the front line near Bakhmut. AFP
  • Volunteers carry the remains of a Uragan rocket as they clear the area around the Sviatohirsk Cave Monastery in Dolyna. AFP
    Volunteers carry the remains of a Uragan rocket as they clear the area around the Sviatohirsk Cave Monastery in Dolyna. AFP
  • A man sits inside a damaged car in the village of Chasiv Yar. AFP
    A man sits inside a damaged car in the village of Chasiv Yar. AFP
  • Ukrainian servicemen fire at Russian positions in the region of Donbas. AFP
    Ukrainian servicemen fire at Russian positions in the region of Donbas. AFP
  • Rescue workers put out a fire in a house shelled by Russian forces in Kostiantynivka. AP
    Rescue workers put out a fire in a house shelled by Russian forces in Kostiantynivka. AP
  • A Ukrainian serviceman moves towards the frontline city of Bakhmut. AFP
    A Ukrainian serviceman moves towards the frontline city of Bakhmut. AFP
  • Vladyslav, a Ukrainian paratrooper of the 80 Air Assault brigade, rests in a dugout at the front line near Bakhmut. AP
    Vladyslav, a Ukrainian paratrooper of the 80 Air Assault brigade, rests in a dugout at the front line near Bakhmut. AP
  • Residents of the village of Bohorodychne cross the Seversky Donets river to retrieve bread from the other bank. AFP
    Residents of the village of Bohorodychne cross the Seversky Donets river to retrieve bread from the other bank. AFP

Mr Putin told new US Ambassador Lynne Tracy that US support for a revolution in Ukraine in 2014 had led to the Russia-Ukraine conflict.

He said relations were in “a deep crisis” that was “based on fundamentally different approaches to the formation of the modern world order”.

“Dear Madam Ambassador, I know you may not agree, but I cannot but say that the United States' use … of such tools as support for the so-called 'colour revolutions', support in this regard for the coup in Kyiv in 2014, ultimately led to today's Ukrainian crisis,” Mr Putin said.

Mr Putin then told new EU ambassador Roland Galharague that the body “initiated a geopolitical confrontation with Russia”.

Nikolai Patrushev, chair of Russia's Security Council, told Tass news agency that “with the assistance of the US and its allies, Kiev is intensifying its terrorist activity” in four regions of Ukraine that Moscow said last year it was formally annexing.

Russia said it was forced to intervene in Ukraine to halt Western interference that was becoming a threat to its security.

The West and Kyiv dismissed this as a baseless pretext for a war of conquest.

Ukrainian President Volodymyr Zelenskyy said Poland would to help form a coalition of Western powers to supply warplanes to Kyiv, as his fighters continued to defend their eastern bastion of Bakhmut in the face of relentless Russian assaults.

During a visit to Warsaw on Wednesday, Mr Zelenskiyy said Poland had been instrumental in getting Western allies to send battle tanks to Ukraine and he believed it could play the same role in a “planes coalition”.

The Polish government said it would send 10 more MiG fighter jets on top of four provided earlier, but so far there has been no agreement from the US or Ukraine's other major military backers to send the F-16 fighters Kyiv has requested.

Russia 'does not control' Bakhmut

On the front lines, Mr Zelenskyy said Ukrainian troops faced a difficult situation in the battle for Bakhmut and the military would take “corresponding” decisions to protect them if they risked being encircled by Russian forces.

“We are in Bakhmut and the enemy does not control it,” Mr Zelenskyy said, refuting claims by Russian forces that they had captured the city, in ruins after months of attritional warfare and bombardment.

“For me, the most important is not to lose our soldiers and of course if there is a moment of even hotter events and the danger we could lose our personnel because of encirclement — of course the corresponding correct decisions will be taken by generals there,” Mr Zelenskiyy said, apparently referring to withdrawal.

The battle for Bakhmut, one of the last urban centres yet to fall to Russia in eastern Donetsk province, has proven one of the bloodiest of Russia's invasion, now in its 14th month.

Ukrainian military commanders have stressed the importance of holding Bakhmut and other cities and inflicting losses on Russian troops before an anticipated counter-offensive against them in the coming weeks or months.

“Bakhmut is performing the key task of inflicting as many losses on Russia as possible and, most importantly, to prepare for a counter-attack to take place in late April-May,” military analyst Pavel Narozhniy told NV Radio in Ukraine.

The US-based Institute for the Study of War said mercenaries from Russia's Wagner private militia were likely to continue trying to consolidate control of the city centre and push westward through dense urban neighbourhoods.

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Who is Mohammed Al Halbousi?

The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.

The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.

He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.

He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.

He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.

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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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Champions League Last 16

Red Bull Salzburg (AUT) v Bayern Munich (GER) 

Sporting Lisbon (POR) v Manchester City (ENG) 

Benfica (POR) v Ajax (NED) 

Chelsea (ENG) v Lille (FRA) 

Atletico Madrid (ESP) v Manchester United (ENG) 

Villarreal (ESP) v Juventus (ITA) 

Inter Milan (ITA) v Liverpool (ENG) 

Paris Saint-Germain v Real Madrid (ESP)  

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The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

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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What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

Disability on screen

Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)

Rosewood and Transparent — heart issues

24: Legacy — PTSD;

Superstore and NCIS: New Orleans — wheelchair-bound

Taken and This Is Us — cancer

Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)

Grey’s Anatomy — prosthetic leg

Scorpion — obsessive compulsive disorder and anxiety

Switched at Birth — deafness

One Mississippi, Wentworth and Transparent — double mastectomy

Dragons — double amputee

Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

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Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
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Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
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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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UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

Profile of RentSher

Started: October 2015 in India, November 2016 in UAE

Founders: Harsh Dhand; Vaibhav and Purvashi Doshi

Based: Bangalore, India and Dubai, UAE

Sector: Online rental marketplace

Size: 40 employees

Investment: $2 million

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

Updated: April 06, 2023, 7:00 AM