As fears of a Russian invasion have grown in recent months, more Ukrainians have been moved to join territorial defence groups. They aim to provide civilians with military skills and create a reservist army that would support regular forces in the event of an attack. Getty
As fears of a Russian invasion have grown in recent months, more Ukrainians have been moved to join territorial defence groups. They aim to provide civilians with military skills and create a reservist army that would support regular forces in the event of an attack. Getty
As fears of a Russian invasion have grown in recent months, more Ukrainians have been moved to join territorial defence groups. They aim to provide civilians with military skills and create a reservist army that would support regular forces in the event of an attack. Getty
As fears of a Russian invasion have grown in recent months, more Ukrainians have been moved to join territorial defence groups. They aim to provide civilians with military skills and create a reservis

US and UK accuse Russia of seeking pretext for Ukraine invasion


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Russia is trying to invent pretexts for invading Ukraine and may launch “a false-flag operation”, the US and UK have said.

White House Press Secretary Jen Psaki said US intelligence reports suggest Russia could lay the groundwork in eastern Ukraine “several weeks” before a military invasion, which may start between mid-January and mid-February.

She said “our information” indicated that “Russian influence actors are already starting to fabricate Ukrainian provocations in state and social media to justify a Russian intervention and sow divisions in Ukraine”.

Ms Psaki said the US had information that Russian operatives were already positioned to carry out an operation in eastern Ukraine.

“The operatives are trained in urban warfare and in using explosives to carry out acts of sabotage against Russia’s own proxy forces,” she said.

Kremlin spokesman Dmitry Peskov was quick to call the US statements “unfounded”.

On Saturday, UK Foreign Secretary Liz Truss accused Russia of “waging a disinformation campaign intended to destabilise and justify an invasion of its sovereign neighbour Ukraine".

“Russia must halt its aggression, de-escalate and engage in meaningful talks” she said.

Pentagon spokesman John Kirby echoed Ms Psaki’s comments.

He said the intelligence was “very credible” and that Russian operatives could include intelligence agents, the military and other security operatives.

“They often hybridise their personnel to such a degree that the lines are not necessarily really clear,” Mr Kirby said.

On Friday, Ukrainian media reported that authorities believed Russian special services were planning a possible “false flag” incident that could be seen as provoking additional conflict.

The new US intelligence was unveiled after a series of talks aimed at heading off the escalating crisis made little progress.

On Thursday, White House National Security Adviser Jake Sullivan said the US intelligence community has not made an assessment that the Russians, who have massed about 100,000 troops on the Ukrainian border, have decided to take a military course of action in Ukraine but that Moscow was laying the groundwork to invade under false pretences, should Mr Putin decide to go that route.

He said the Russians have been planning “sabotage activities and information operations” that accuse Kiev of preparing for its own imminent attack against Russian forces in eastern Ukraine, and that the move was similar to the Kremlin's actions in the lead-up to Russia’s 2014 annexation of Crimea, the Black Sea peninsula that had been under Ukraine’s jurisdiction since 1954.

Russia has long been accused of using disinformation as a tactic against adversaries in conjunction with military operations and cyber attacks.

In 2014, Russian state media tried to discredit pro-western protests in Kiev as “fomented by the US in co-operation with fascist Ukrainian nationalists” and promoted narratives about Crimea’s historical ties to Moscow, a report by Stanford University’s Internet Observatory showed.

Ukraine is monitoring the reported use of disinformation by Russia.

Efforts to directly influence Ukrainians appear to have continued during the conflict in eastern Ukraine, in which at least 14,000 people have died.

The Associated Press reported in 2017 that Ukrainian forces in the east constantly received text messages warning them that they would be killed and their children would be orphaned.

The US intelligence community has taken note of a campaign on social media by Russian influencers justifying intervention on the grounds of deteriorating human rights in Ukraine, suggesting an increased militancy of Ukrainian leaders and blaming the West for escalating tension.

“We saw this playbook in 2014,” Mr Sullivan said on Thursday.

“They are preparing this playbook again.”

Russia maintains it does not plan to invade Ukraine. But it has urged the US and Nato to provide written guarantees that the alliance will not expand eastwards.

The US has called such demands non-starters but said it is willing to negotiate with Moscow about future deployments of offensive missiles in Ukraine and putting limits on US and Nato military exercises in Eastern Europe.

Foreign Minister Sergey Lavrov said on Friday that Moscow would not wait indefinitely for the West's response.

He said he expects the US and Nato to provide a written answer next week.

Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

GIANT REVIEW

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Rating: 4/5

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6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)

7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar

7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash

8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe

8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson

9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar

10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash

UAE currency: the story behind the money in your pockets

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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  10. Bagpat, India
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Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

Scoreline:

Manchester City 1

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Brighton 0

Updated: January 15, 2022, 3:49 PM