The Starstreak surface-to-air missile system is likely to be used by Ukraine in fighting against the Russian offensive. Photo: Ministry of Defence
The Starstreak surface-to-air missile system is likely to be used by Ukraine in fighting against the Russian offensive. Photo: Ministry of Defence
The Starstreak surface-to-air missile system is likely to be used by Ukraine in fighting against the Russian offensive. Photo: Ministry of Defence
The Starstreak surface-to-air missile system is likely to be used by Ukraine in fighting against the Russian offensive. Photo: Ministry of Defence

World's fastest laser-guided missile deployed to Ukraine


Thomas Harding
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Live updates: follow the latest news on Russia-Ukraine

Ukrainian troops have completed training in the fastest anti-aircraft missile in the world that will present a severe threat to Russian aircraft, the British defence secretary has confirmed.

Ben Wallace said the advanced Starstreak weapon that travels at more than 5,000kph and is made in Belfast had been deployed into the war zone for the first time and would be used imminently against the Russian offensive.

Britain’s defence industry is benefitting significantly from the Ukraine conflict with shares soaring among companies supplying missiles and other hardware.

Ukrainian servicemen pose in front of what they say are destroyed Russian military vehicles and equipment in the village of Lukianivka, which they reclaimed from Russian forces. Reuters
Ukrainian servicemen pose in front of what they say are destroyed Russian military vehicles and equipment in the village of Lukianivka, which they reclaimed from Russian forces. Reuters

“One of the biggest challenges is that the more you go up in sophistication of weapons systems, the more training you require to use them,” he told The Mail on Sunday. With Britain providing more than 10,000 anti-tank and anti-aircraft missiles, it was “doing more than pretty much anyone else” to help Ukraine's military, he said.

Ukraine’s troops are understood to have been trained in the more challenging Starstreak system via remote online learning and potentially by British instructors operating in Eastern Europe.

Unlike other surface-to-air missiles (SAMs), Starstreak, built in Northern Ireland, follows a laser beam-guidance system rather than heat-seeking that can be deterred by magnesium flares.

It is incredibly fast, reaching a maximum velocity of three times the speed of sound, or Mach 4, much faster than the top speed of a Stinger anti-aircraft missile which can travel at Mach 2.5. It also has a range of seven kilometres, with each missile carrying three tungsten-alloy darts each weighing 450g.

Ukraine’s medium range SAM threat has largely forced Russian jets to fly low and fast, which will make them vulnerable to the shoulder-launched weapon. Starstreak will prove particularly deadly for helicopters, giving pilots little time to react.

A Ukrainian troop holds an NLAW at a position on the front line in the northern Kyiv region. Reuters
A Ukrainian troop holds an NLAW at a position on the front line in the northern Kyiv region. Reuters

The weapon that is proving decisive in hitting Russian armour is the British-made Next Generation Anti-Tank Weapon (NLAW). A Ukraine army official has said up to 40 per cent of all Russian tanks destroyed in the conflict have been hit by NLAWs.

Defence minister James Heappey argued in the Commons on Monday that small detachments of Ukrainian troops armed with NLAWs had proven highly capable at attacking the large, slow-moving Russian armoured formations.

“We have seen on the footage of Ukrainians, interrupting activities of fast armoured columns, that small bands of determined people with the right missile technology are far more lethal than any opposing armoured force might prove to be,” he said.

Britain has sent more than 4,000 of the advanced but easy-to-use missiles, which at £20,000 ($26,170) each are significantly cheaper than US-made Javelin, estimated at £156,000.

  • A woman walks past a poster depicting Russian President Vladimir Putin holding his own body, as Russia's invasion of Ukraine continues, in Sofia, Bulgaria. Reuters
    A woman walks past a poster depicting Russian President Vladimir Putin holding his own body, as Russia's invasion of Ukraine continues, in Sofia, Bulgaria. Reuters
  • A man walks past a residential area destroyed by a rocket strike in Kyiv. Getty Images
    A man walks past a residential area destroyed by a rocket strike in Kyiv. Getty Images
  • Ukraine refugees wait in the train station in Przemysl, near the Polish-Ukrainian border. More than 3.8 million have fled Ukraine since Russia's invasion. AFP
    Ukraine refugees wait in the train station in Przemysl, near the Polish-Ukrainian border. More than 3.8 million have fled Ukraine since Russia's invasion. AFP
  • Ukrainian civilians receive weapons training at a shooting range in Brno, Czech Republic. EPA
    Ukrainian civilians receive weapons training at a shooting range in Brno, Czech Republic. EPA
  • A Ukrainian special police officer patrols near a destroyed building during the night curfew in Kharkiv. AP Photo
    A Ukrainian special police officer patrols near a destroyed building during the night curfew in Kharkiv. AP Photo
  • A Ukrainian serviceman walks past the wreck of a Russian tank in Lukyanivka, Kyiv. Reuters
    A Ukrainian serviceman walks past the wreck of a Russian tank in Lukyanivka, Kyiv. Reuters
  • Ukrainian Air Force jets take part in a defence drill over an unidentified location. Reuters
    Ukrainian Air Force jets take part in a defence drill over an unidentified location. Reuters
  • Valentina Demura, 70, near the ruins of her home in apartment block in the besieged southern port city of Mariupol. Reuters
    Valentina Demura, 70, near the ruins of her home in apartment block in the besieged southern port city of Mariupol. Reuters
  • A message of support for Ukraine at the 94th Academy Awards in Hollywood, Los Angeles, California. Reuters
    A message of support for Ukraine at the 94th Academy Awards in Hollywood, Los Angeles, California. Reuters
  • The widow of sergeant Kostiantyn Deriuhin stands at her husband's grave after his funeral at Lychakiv cemetery in Lviv, Ukraine. Reuters
    The widow of sergeant Kostiantyn Deriuhin stands at her husband's grave after his funeral at Lychakiv cemetery in Lviv, Ukraine. Reuters
  • A walk amid the ruins after a Russian attack in Byshiv on the outskirts of Kyiv, Ukraine. AP
    A walk amid the ruins after a Russian attack in Byshiv on the outskirts of Kyiv, Ukraine. AP
  • A soldier of the Ukrainian territorial defence forces gives a salute during a break in digging a foxhole at Kalynivka, on the outskirts of Kyiv, Ukraine. AP
    A soldier of the Ukrainian territorial defence forces gives a salute during a break in digging a foxhole at Kalynivka, on the outskirts of Kyiv, Ukraine. AP
  • A bust adorned with a headband in the colours of the Ukraine flag at a checkpoint in Kyiv, Ukraine. AP
    A bust adorned with a headband in the colours of the Ukraine flag at a checkpoint in Kyiv, Ukraine. AP
  • The Cheremosh Folk Song and Dance Ensemble performs in the streets of the Old Town in Lviv, Ukraine. Getty
    The Cheremosh Folk Song and Dance Ensemble performs in the streets of the Old Town in Lviv, Ukraine. Getty
  • Eugene Grigorash says goodbye to his wife Victoria Grigorash and their seven-month-old son Roman as their bus leaves Lviv on its way to Poland. Getty
    Eugene Grigorash says goodbye to his wife Victoria Grigorash and their seven-month-old son Roman as their bus leaves Lviv on its way to Poland. Getty
  • People head for an air raid shelter after sirens sound across Lviv in Ukraine. Getty
    People head for an air raid shelter after sirens sound across Lviv in Ukraine. Getty
  • A pro-Ukraine rally at the Lincoln Memorial in Washington. EPA
    A pro-Ukraine rally at the Lincoln Memorial in Washington. EPA
  • The aftermath of an air strike on the western Ukrainian city of Lviv. AFP
    The aftermath of an air strike on the western Ukrainian city of Lviv. AFP
  • A protester weeps as she takes part in a 'mothers' march' for Ukraine, in New York. AFP
    A protester weeps as she takes part in a 'mothers' march' for Ukraine, in New York. AFP
  • Local people share a basement of a historical building which is being used as a bomb shelter during an air raid warning in Lviv. EPA
    Local people share a basement of a historical building which is being used as a bomb shelter during an air raid warning in Lviv. EPA
  • US President Joe Biden kisses a child while meeting refugees of Russia's war with Ukraine at PGE Narodowy Stadium in Warsaw, Poland. AFP
    US President Joe Biden kisses a child while meeting refugees of Russia's war with Ukraine at PGE Narodowy Stadium in Warsaw, Poland. AFP
  • A Ukrainian soldier stands guard at Independence Square in Kyiv. AFP
    A Ukrainian soldier stands guard at Independence Square in Kyiv. AFP
  • Municipal employees cover the city's monuments with sand bags to protect them from strikes in Kharkiv. AFP
    Municipal employees cover the city's monuments with sand bags to protect them from strikes in Kharkiv. AFP
  • Misha, 5, who lost his mother some weeks ago and got injured during a Russian strike, is helped by his grandfather to dress up in the basement of a hospital in Mykolaiv. AFP
    Misha, 5, who lost his mother some weeks ago and got injured during a Russian strike, is helped by his grandfather to dress up in the basement of a hospital in Mykolaiv. AFP
  • Ukrainian refugees rest in the ticket hall of Przemysl Glowny train station. Reuters
    Ukrainian refugees rest in the ticket hall of Przemysl Glowny train station. Reuters
  • A woman walks past destroyed houses in the village of Krasylivka outside Kyiv. Reuters
    A woman walks past destroyed houses in the village of Krasylivka outside Kyiv. Reuters
  • A man climbs up a ladder to examine his destroyed house in the village of Krasylivka outside Kyiv. Reuters
    A man climbs up a ladder to examine his destroyed house in the village of Krasylivka outside Kyiv. Reuters
  • Damage inside an Orthodox Church building in Yasnohorodka, on the outskirts of Kyiv. AP
    Damage inside an Orthodox Church building in Yasnohorodka, on the outskirts of Kyiv. AP
  • A Ukrainian soldier at a psychiatric hospital damaged by a Russian bombing, in Mykolaiv. AP
    A Ukrainian soldier at a psychiatric hospital damaged by a Russian bombing, in Mykolaiv. AP
  • Displaced people from Dnipro arrive in Lviv, in western Ukraine. Millions are internally displaced. Getty Images
    Displaced people from Dnipro arrive in Lviv, in western Ukraine. Millions are internally displaced. Getty Images
  • A destroyed school in Kharkiv. AFP
    A destroyed school in Kharkiv. AFP
  • A Ukrainian fighter on the front line in the north Kyiv region. Reuters
    A Ukrainian fighter on the front line in the north Kyiv region. Reuters
  • A resident walks past blazing buildings and vehicles after a Russian artillery strike in Kharkiv. AFP
    A resident walks past blazing buildings and vehicles after a Russian artillery strike in Kharkiv. AFP
  • Black smoke billows from a fuel depot near Kyiv that was used by the Ukrainian Army before it was hit by during a Russian strike. AP
    Black smoke billows from a fuel depot near Kyiv that was used by the Ukrainian Army before it was hit by during a Russian strike. AP
  • Masha, 26, checks her mobile phone at an air raid shelter inside a Kyiv metro station. Reuters
    Masha, 26, checks her mobile phone at an air raid shelter inside a Kyiv metro station. Reuters
  • A market on fire in Kharkiv after a Russian attack. AP
    A market on fire in Kharkiv after a Russian attack. AP
  • People try to recover items from a shop set on fire during a Russian attack in Kharkiv. AP
    People try to recover items from a shop set on fire during a Russian attack in Kharkiv. AP
  • Nastya Kuzyk, 20, who was injured in an attack on Chernihiv, is comforted by her mother Svitlana, 50, as she recovers in a Kyiv hospital. AP
    Nastya Kuzyk, 20, who was injured in an attack on Chernihiv, is comforted by her mother Svitlana, 50, as she recovers in a Kyiv hospital. AP

The NLAWs and Starstreaks are both made at the former Shorts factory in Belfast that is now owned by Thales, a French company.

With the company advertising 22 jobs, including one for a “missile architect”, it is clearly experiencing a post-pandemic boon in which share prices for some defence companies have increased by up to 72 per cent in a day. Thales’s share price has risen by 42 per cent in the past month.

With the German defence budget leaping to $100 billion a year, it is expected that more military items will be bought from British companies, including the Eurofighter Typhoon and meteor air-to-air missiles, which are made in Bolton, Greater Manchester.

Results

5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi

5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami

6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami

6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar

7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel

7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
WORLD RECORD FEES FOR GOALKEEPERS

1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)

2) Alisson, Roma to Liverpool (£67m)

3) Ederson, Benfica to Manchester City (£35m)

4) Gianluigi Buffon, Parma to Juventus (£33m)

5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m

UAE currency: the story behind the money in your pockets
Pathaan
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Siddharth%20Anand%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Deepika%20Padukone%2C%20John%20Abraham%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E640hp%20at%206%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E850Nm%20from%202%2C300-4%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E11.9L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh749%2C800%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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.”

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

Recipe: Spirulina Coconut Brothie

Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)

Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy. 

BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

The%20specs
%3Cp%3E%0D%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E666hp%20at%206%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E850Nm%20at%202%2C300-4%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EQ1%202023%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh1.15%20million%20(estimate)%3C%2Fp%3E%0A
The specs: Volvo XC40

Price: base / as tested: Dh185,000

Engine: 2.0-litre, turbocharged in-line four-cylinder

Gearbox: Eight-speed automatic

Power: 250hp @ 5,500rpm

Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 10.4L / 100km

Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions
BEACH SOCCER WORLD CUP

Group A

Paraguay
Japan
Switzerland
USA

Group B

Uruguay
Mexico
Italy
Tahiti

Group C

Belarus
UAE
Senegal
Russia

Group D

Brazil
Oman
Portugal
Nigeria

Fifa Club World Cup quarter-final

Kashima Antlers 3 (Nagaki 49’, Serginho 69’, Abe 84’)
Guadalajara 2 (Zaldivar 03’, Pulido 90')

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Updated: March 30, 2022, 11:15 AM