US revives nuclear deal with Russia



President Barack Obama planned to resubmit to Congress a nuclear power pact with Russia today, that his predecessor angrily cancelled two years ago after Russia invaded neighbouring Georgia. The move is another sign of warming relations between the US and Russia, which have previously clashed over Nato expansion plans and Moscow's claim of a zone of "privileged interest" along its borders. The White House released a letter from Mr Obama to Congress late Monday saying that the situation in Georgia "need no longer be considered an obstacle" to the agreement.

The US president noted that Russia currently is co-operating with the US in pushing for new sanctions against Iran's suspected nuclear weapons programme. Mr Obama also cited the signing April 13 of the New START treaty limiting nuclear arsenals and the creation last year of a bilateral presidential working group on nuclear energy and security as examples of Russia's "increased co-operation." The revived deal would allow the countries to exchange nuclear energy technology, engage in joint commercial nuclear power ventures and collaborate on non-proliferation goals.

Mr Obama's decision to resubmit the nuclear agreement is the latest milestone in his administration's attempts to reset relations with Russia, a major goal of his foreign policy. President George W Bush signed and sent the nuclear power agreement to Congress in May 2008, but withdrew it in September, a month after Russia invaded its much smaller, West-leaning neighbour to the south. * AP

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A