The Liberian-flagged bulk carrier Primus on the Bosphorus in Istanbul. EPA
The Liberian-flagged bulk carrier Primus on the Bosphorus in Istanbul. EPA
The Liberian-flagged bulk carrier Primus on the Bosphorus in Istanbul. EPA
The Liberian-flagged bulk carrier Primus on the Bosphorus in Istanbul. EPA

Russia targeted civilian cargo ship, UK intelligence says


Soraya Ebrahimi
  • English
  • Arabic

Declassified UK intelligence suggests the Russian military targeted a civilian cargo ship in the Black Sea towards the end of last month.

Missiles were fired from a Russian Black Sea fleet missile carrier on August 24 but were shot down by the Ukrainian armed forces.

One of the intended targets was reportedly a Libyan-flagged cargo ship berthed at the port of Odesa.

Prime Minister Rishi Sunak told the House of Commons about the attack as he updated MPs on his G20 visit.

“I can tell the House today that thanks to declassified intelligence, we know the Russian military targeted a civilian cargo ship in the Black Sea with multiple missiles on August 24, demonstrating just how desperate [President Vladimir] Putin is," he said.

News of the attack comes after Russia withdrew from the Black Sea Grain Initiative, an effort to ship grain out of Ukraine to countries in Africa and other parts of the world which could otherwise face famine.

Mr Sunak criticised Mr Putin in the Commons for not attending the G20, and claimed Russia had destroyed enough food to feed one million people for a year after pulling out of the deal.

“Even as most G20 leaders came together in Delhi in the spirit of co-operation, one did not," the Prime Minister said.

“For two years now, Putin has lacked the courage to face his G20 peers. Day after day his actions cause horrendous suffering in Ukraine, violating the UN Charter, threatening European security and disrupting global energy supplies."

Ukraine and Russia conflict latest - in pictures

  • First responders work at the site of a block of flats destroyed by a Russian missile strike in Lviv. Reuters
    First responders work at the site of a block of flats destroyed by a Russian missile strike in Lviv. Reuters
  • A Ukrainian woman practices with a rifle during volunteer military training for civilians near Kyiv. AP
    A Ukrainian woman practices with a rifle during volunteer military training for civilians near Kyiv. AP
  • A sport complex damaged by Russian missiles during an attack in Dnipro. EPA
    A sport complex damaged by Russian missiles during an attack in Dnipro. EPA
  • Ukrainian President Volodymyr Zelenskyy is briefed at the front line near Soledar in the eastern Donetsk region. Reuters
    Ukrainian President Volodymyr Zelenskyy is briefed at the front line near Soledar in the eastern Donetsk region. Reuters
  • Ukrainian troops fire a BM-21 Grad multiple rocket launcher near the front line in Donetsk region. Reuters
    Ukrainian troops fire a BM-21 Grad multiple rocket launcher near the front line in Donetsk region. Reuters
  • Locals inspect the damage to a building near the impact area of a rocket strike in Lviv. EPA
    Locals inspect the damage to a building near the impact area of a rocket strike in Lviv. EPA
  • A Ukrainian soldier waves from atop an APC at the front line near Bakhmut in Donetsk region. AP
    A Ukrainian soldier waves from atop an APC at the front line near Bakhmut in Donetsk region. AP
  • A Ukrainian woman holds her daughter in the back of an ambulance operated by Red Cross volunteers in Kupyansk, Kharkiv region. AP
    A Ukrainian woman holds her daughter in the back of an ambulance operated by Red Cross volunteers in Kupyansk, Kharkiv region. AP
  • First responders work at the site of a shopping centre destroyed by a Russian attack in Odesa. Reuters
    First responders work at the site of a shopping centre destroyed by a Russian attack in Odesa. Reuters
  • A Ukrainian soldier watches a Grad multiple rocket launcher firing near Bakhmut in Donetsk region. AP
    A Ukrainian soldier watches a Grad multiple rocket launcher firing near Bakhmut in Donetsk region. AP
  • A Ukrainian woman walks through the destroyed home of her son, who was killed the day before by shelling in Donetsk. Reuters
    A Ukrainian woman walks through the destroyed home of her son, who was killed the day before by shelling in Donetsk. Reuters
  • Firefighters work at the scene where a hotel was damaged by Russian missile fire in Zaporizhzhia. Reuters
    Firefighters work at the scene where a hotel was damaged by Russian missile fire in Zaporizhzhia. Reuters

“The spillovers have driven up prices here at home and they are hurting people all around the world," Mr Sunak added.

“Russia’s withdrawal from the Black Sea Grain Initiative exposes their willingness to spread that suffering further. While Putin stalls, making unmeetable demands, he is destroying Ukraine’s ports and grain silos.

“In just one month, Russia has destroyed over 270,000 tonnes of grain, enough to feed a million people for a year.”

The assault on the Libyan cargo vessel follows US government warnings that the Russian military could launch attacks on civilian shipping in the Black Sea.

The Russians have reportedly been laying sea mines around Ukrainian ports and have also targeted shipping infrastructure in the country in recent months.

Mr Sunak later suggested in the Commons that he would have liked the G20’s statement on the war in Ukraine to have been stronger.

Liberal Democrat defence spokesman Richard Foord (Tiverton and Honiton) said it was “disappointing” the statement did not explicitly name Russia as the perpetrator of aggression in Ukraine.

“Does the Prime Minister agree with Canada’s liberal Prime Minister Justin Trudeau, who said yesterday that if it were up to him the language on the war would have been stronger?” Mr Foord asked.

“It goes without saying, because this is not the G7, indeed it’s not the G1, it’s not just for us to dictate the language that we ourselves would like," Mr Sunak responded.

“The G20 is a collection of a large group of countries that do not all share the same perspective on global affairs, or indeed the same values, and to assume that it can reflect the unanimity that we have in the G7 is simply to just misunderstand how foreign affairs actually works," he added.

But the Prime Minister also defended the joint statement, adding: “The statement agreed on the significance of securing a comprehensive, just and lasting peace.

"The statement specifically called for an end to attacks on food and civilian infrastructure, for Russia to rejoin the Black Sea Grain Initiative and indeed highlighted the suffering that it’s causing.”

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.”

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

The details

Heard It in a Past Life

Maggie Rogers

(Capital Records)

3/5

2019 Asian Cup final

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

WRESTLING HIGHLIGHTS
Racecard

6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m

7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m

7.40pm: Handicap (TB) $135,000 (D) 1,200m

8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m

8.50pm: Handicap (TB) $135,000 (T) 1,000m

9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m

10pm: Handicap (TB) $175,000 (T) 2,410m

The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final

Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

EPL's youngest
  • Ethan Nwaneri (Arsenal)
    15 years, 181 days old
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    15 years, 271 days old
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The specs: 2018 Jaguar F-Type Convertible

Price, base / as tested: Dh283,080 / Dh318,465

Engine: 2.0-litre inline four-cylinder

Transmission: Eight-speed automatic

Power: 295hp @ 5,500rpm

Torque: 400Nm @ 1,500rpm

Fuel economy, combined: 7.2L / 100km

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Updated: September 11, 2023, 9:04 PM