The Russian currency has tanked against the greenback following tighter sanctions aimed at some of its banks. Reuters
The Russian currency has tanked against the greenback following tighter sanctions aimed at some of its banks. Reuters
The Russian currency has tanked against the greenback following tighter sanctions aimed at some of its banks. Reuters
The Russian currency has tanked against the greenback following tighter sanctions aimed at some of its banks. Reuters

Business

Markets

Russian central bank hikes rates as rouble sinks to record low following tighter sanctions

Currency sinks following the targeting of some of Moscow's lenders that have been disconnected from the Swift payments network

Massoud A Derhally
Massoud A Derhally

February 28, 2022

  • English
  • Arabic

Russia’s central bank hiked interest rates to their highest in nearly two decades as the rouble plunged to a record low against the dollar in early trading on Monday, after the US and EU allies imposed tighter sanctions in response to its military offensive in Ukraine.

The rouble tanked more than 28 per cent to 118 against the greenback in early trading and then clawed back some territory but was still down at 96.05 as of 3.31pm UAE time.

"A bank run has already started in Russia over the weekend, and the rouble ... will be well above $100 to the US Dollar," said Jeffrey Halley, senior market analyst at Oanda.

Inflation will immediately spike and the Russian banking system is likely to be in trouble, he said. Russia's central bank intervened in the foreign exchange market last week to defend the rouble by selling some of its reserves.

On Monday, the bank raised its key interest rate to 20 per cent from 9.5 per cent, their highest since 2003.

"External conditions for the Russian economy have drastically changed. The increase of the key rate will ensure a rise in deposit rates to levels needed to compensate for the increased depreciation and inflation risks. This is needed to support financial and price stability and protect the savings of citizens from depreciation," it said in a statement.

Further key rate decisions will be made taking into account "risks posed by external and domestic conditions and the reaction of financial markets, as well as actual and expected inflation movements", it said.

Russia’s central bank also barred its brokers as of 7.00am local time from carrying out sell orders from foreigners to contain the impact on the financial market from sanctions. It also said it would boost liquidity by freeing 733 billion roubles ($8.78 billion) in local bank reserves.

On Monday, Elvira Nabiullina, the chairman of the Bank of Russia, said the Russian central bank did not carry out foreign currency interventions on Monday owing to the latest Western sanctions, following the banking regulator's board meeting.

Ukrainian fighters test an automatic grenade launcher taken from a destroyed Russian infantry vehicle in Kharkiv. AFP
Ukrainian fighters test an automatic grenade launcher taken from a destroyed Russian infantry vehicle in Kharkiv. AFP
Refugees from Ukraine rest after arriving at a railway station in Przemysl, Poland. AP
Refugees from Ukraine rest after arriving at a railway station in Przemysl, Poland. AP
People walk down 17th June Street in Berlin before a rally against Russia’s invasion of Ukraine. AP
People walk down 17th June Street in Berlin before a rally against Russia’s invasion of Ukraine. AP
Vitali Klitschko, Mayor of Kiev and former heavyweight boxing champion, right, and his brother, Wladimir. AP
Vitali Klitschko, Mayor of Kiev and former heavyweight boxing champion, right, and his brother, Wladimir. AP
Khreshchatyk, Kiev’s main street, lies empty as a curfew comes into effect. AP
Khreshchatyk, Kiev’s main street, lies empty as a curfew comes into effect. AP
Ukrainian President Volodymyr Zelenskyy speaks to the nation from Kiev. AP
Ukrainian President Volodymyr Zelenskyy speaks to the nation from Kiev. AP
On February 27, the seventh anniversary of the assassination of opposition leader Boris Nemtsov, a note stating ‘No to war!’ is placed among flowers on the central Moscow bridge on which he was shot. AFP
On February 27, the seventh anniversary of the assassination of opposition leader Boris Nemtsov, a note stating ‘No to war!’ is placed among flowers on the central Moscow bridge on which he was shot. AFP
A member of the Ukrainian forces, wearing the Guy Fawkes mask popularised by Anonymous, patrols central Kiev. AFP
A member of the Ukrainian forces, wearing the Guy Fawkes mask popularised by Anonymous, patrols central Kiev. AFP
Sviatoslav Yurash, 26, a politician from President Volodymyr Zelenskyy’s Servant of the People party, poses with his assault rifle as he patrols Kiev. AFP
Sviatoslav Yurash, 26, a politician from President Volodymyr Zelenskyy’s Servant of the People party, poses with his assault rifle as he patrols Kiev. AFP
A Ukrainian serviceman and his dog look at smoke from a burning fuel storage depot after a Russian missile attack near Kiev. EPA
A Ukrainian serviceman and his dog look at smoke from a burning fuel storage depot after a Russian missile attack near Kiev. EPA
A refugee who fled conflict in Ukraine rests at a railway station after arriving in Zahony, Hungary. AP
A refugee who fled conflict in Ukraine rests at a railway station after arriving in Zahony, Hungary. AP
A refugee boy who fled Ukraine cries at the railway station in Zahony, Hungary. AP
A refugee boy who fled Ukraine cries at the railway station in Zahony, Hungary. AP
Civil defence members eat during a break at City Hall in Kiev. AP
Civil defence members eat during a break at City Hall in Kiev. AP
An Indian student is embraced by his family at Chennai Airport after returning from Ukraine. EPA
An Indian student is embraced by his family at Chennai Airport after returning from Ukraine. EPA
Smoke is seen rising from behind buildings following bombings in Kiev. Getty
Smoke is seen rising from behind buildings following bombings in Kiev. Getty
An armed civil defence woman holds a Kalashnikov assault rifle while patrolling an empty street in Kiev. AP
An armed civil defence woman holds a Kalashnikov assault rifle while patrolling an empty street in Kiev. AP
A woman fleeing from Ukraine cries as she waits to be taken to a shelter in Zahony, Hungary. Reuters
A woman fleeing from Ukraine cries as she waits to be taken to a shelter in Zahony, Hungary. Reuters
Ukrainian refugees cross the Romanian border at Siret, northern Romania. EPA
Ukrainian refugees cross the Romanian border at Siret, northern Romania. EPA
A residential building damaged by shelling in Kharkiv, north-eastern Ukraine. AFP
A residential building damaged by shelling in Kharkiv, north-eastern Ukraine. AFP
Apartments damaged by shelling in Kharkiv. AFP
Apartments damaged by shelling in Kharkiv. AFP
A girl protests against Russia's military operation in Ukraine, in front of the Russian embassy in Tel Aviv. AFP
A girl protests against Russia's military operation in Ukraine, in front of the Russian embassy in Tel Aviv. AFP
Young women protest in Tbilisi, Georgia with their hands painted in the colors of the Ukrainian flag. Getty
Young women protest in Tbilisi, Georgia with their hands painted in the colors of the Ukrainian flag. Getty
Supplies for Ukrainian refugees at one of three camps set up at the MoldExpo exhibition center, in Chisinau, Moldova. EPA
Supplies for Ukrainian refugees at one of three camps set up at the MoldExpo exhibition center, in Chisinau, Moldova. EPA
Police detain a demonstrator during a protest against Russia's incursion into Ukraine in St Petersburg. AP
Police detain a demonstrator during a protest against Russia's incursion into Ukraine in St Petersburg. AP
A man waits at a bus stop in St Petersburg, which has been with a painted in the colours of Ukraine's national flag. EPA
A man waits at a bus stop in St Petersburg, which has been with a painted in the colours of Ukraine's national flag. EPA
Russian ground forces approaching Nova Kakhovka, southern Ukraine. AP
Russian ground forces approaching Nova Kakhovka, southern Ukraine. AP
A woman holds her daughter's hand as they arrive by bus from the Polish-Ukrainian border. Getty
A woman holds her daughter's hand as they arrive by bus from the Polish-Ukrainian border. Getty
A man drives his car full of food supplies to deliver to the Ukrainian side of the border, where thousands wait to enter Poland. Getty
A man drives his car full of food supplies to deliver to the Ukrainian side of the border, where thousands wait to enter Poland. Getty
Refugees arrive with buses from the Medyka pedestrian border crossing, in Przemsyl, eastern Poland. AFP
Refugees arrive with buses from the Medyka pedestrian border crossing, in Przemsyl, eastern Poland. AFP
People gather to catch a train and leave Ukraine for neighboring countries at the railway station in Lviv, western Ukraine. AP
People gather to catch a train and leave Ukraine for neighboring countries at the railway station in Lviv, western Ukraine. AP
Cars form a line that stretches 35 kilometres from the Shehyni border crossing to Poland as people try to flee Russia's military operation against Ukraine. Reuters
Cars form a line that stretches 35 kilometres from the Shehyni border crossing to Poland as people try to flee Russia's military operation against Ukraine. Reuters
Helena, right, and her brother Bodia, left, from Lviv, wait at the Medyka border crossing in eastern Poland. AFP
Helena, right, and her brother Bodia, left, from Lviv, wait at the Medyka border crossing in eastern Poland. AFP
A Ukrainian soldier walks past debris of a burning military truck, on a street in Kiev. AP
A Ukrainian soldier walks past debris of a burning military truck, on a street in Kiev. AP
People run for cover during the shelling on the city of Kiev. AP
People run for cover during the shelling on the city of Kiev. AP
A child refugee who fled the conflict in Ukraine covers her face in the event hall of a hotel offering shelter in Siret, Romania. AP
A child refugee who fled the conflict in Ukraine covers her face in the event hall of a hotel offering shelter in Siret, Romania. AP
Ukrainian President Volodymyr Zelenskyy holding a briefing in Kyiv. He said that Azerbaijan's President Ilham Aliyev and Turkey's Recep Tayyip Erdogan have suggested talks with Russia, which 'can only be welcomed'. AFP
Ukrainian President Volodymyr Zelenskyy holding a briefing in Kyiv. He said that Azerbaijan's President Ilham Aliyev and Turkey's Recep Tayyip Erdogan have suggested talks with Russia, which 'can only be welcomed'. AFP
Ukraine's ambassador to the US, Oksana Markarova, at a news conference in the embassy of Ukraine, Washington. AP
Ukraine's ambassador to the US, Oksana Markarova, at a news conference in the embassy of Ukraine, Washington. AP
Manchester City footballers wear t-shirts in support of Ukraine before a match. Reuters
Manchester City footballers wear t-shirts in support of Ukraine before a match. Reuters
Ukrainian refugees arrive in Warsaw by train from Kiev. EPA
Ukrainian refugees arrive in Warsaw by train from Kiev. EPA
A woman waves a Ukrainian flag during a rally in Times Square, New York City. AFP
A woman waves a Ukrainian flag during a rally in Times Square, New York City. AFP
A man sits next to his dogs in an underground car park turned into a bomb shelter during an air raid alert in Kiev. AP
A man sits next to his dogs in an underground car park turned into a bomb shelter during an air raid alert in Kiev. AP
A woman sleeps on chairs in a Kiev bomb shelter. AP
A woman sleeps on chairs in a Kiev bomb shelter. AP
A satellite image with overlaid graphics shows military vehicles alongside the Chernobyl Nuclear Power Plant. Reuters
A satellite image with overlaid graphics shows military vehicles alongside the Chernobyl Nuclear Power Plant. Reuters
A satellite image shows the effects of shelling in open fields along Soborna Street in the north-east suburbs of Kharkiv. Reuters
A satellite image shows the effects of shelling in open fields along Soborna Street in the north-east suburbs of Kharkiv. Reuters
A big fire at a petroleum storage depot after a Russian missile attack, in Vasylkiv, near Kiev. EPA
A big fire at a petroleum storage depot after a Russian missile attack, in Vasylkiv, near Kiev. EPA
Ukrainian servicemen take positions at a military airbase in the Kyiv region. Reuters
Ukrainian servicemen take positions at a military airbase in the Kyiv region. Reuters

"Most non-Russian banks will be reluctant to settle the other side of any rouble trade, and I have no doubt compliance officers are having a busy morning. The rouble was trading domestically near 150 over the weekend as Russians caused a bank run in the rush to change savings into hard currencies," said Mr Halley.

The currency's dive comes after the US and European allies disconnected certain Russian banks from the global Swift payments network, in addition to various tougher sanctions aimed at tightening the noose around Russia's economy.

On Monday, the US Treasury prohibited Americans from engaging in transactions with the Central Bank of the Russia, the Russian National Wealth Fund and the country's Ministry of Finance. "This action effectively immobilises any assets of the Central Bank of the Russian Federation held in the United States or by US persons, wherever located", it said in a statement.

Last week, Washington and the EU also took measures to limit Russia's ability to do business in dollars, euros, pounds, and yen. They also froze Russian assets and denied Moscow access to their financial markets limiting their ability to raise funding.

Trading on the Moscow's benchmark MOEX Index, was supposed to start trading at 10.00am, according to the bourse. But by afternoon Monday, the central bank said the bourse will not open for trading. The operating hours of the Moscow Exchange on March 1 will be announced by the Bank of Russia by 9.00am, the regulator said.

Last Thursday, the stock market briefly suspended trading after it plunged more than 45 per cent and closed 33 per cent lower, making it the fifth-worst plunge in stock market history.

Oil prices have rebounded upwards after receding below $100 a barrel on Friday.

Brent, the benchmark for two thirds of the world's oil, was up 5.08 per cent trading at $102.9 per barrel at 2.46pm UAE time on Monday. West Texas Intermediate, the gauge that tracks US crude, was also 4.72 per cent higher at $95.91 per barrel.

Despite Western measures, the US and EU have notably not placed sanctions on Russia’s energy and commodity industries, which are integral to the global economy. Russia is among the world's biggest producers of oil and natural gas, in addition to nickel, aluminium, palladium, cobalt, copper, wheat and barley.

In 2020, Russia produced about 10.2 million barrels a day of crude oil and natural gas condensate, placing it second after the US, with Saudi Arabia in third place, according to the 2021 BP Statistical Review of World Energy. It is also the second-largest producer of natural gas in the world.

Consultancy Wood Mackenzie said Russia’s economy is in a better position to withstand sanctions than it was in 2014 when it annexed Crimea.

"The conflict hurts Ukraine’s economy most. If energy flows are affected, the global impact could be severe. Neither Russia nor the western allies will want to disrupt flows, but it cannot be ruled out," said Wood Mackenzie.

Russia has built a reserve cushion that could soften the impact of sanctions short term, the consultancy said.

"Being frozen out of international bond markets means new sovereign debt needs to be financed domestically. Reserves cover the $50 billion due in principal repayments on government debt through 2025."

As for Ukraine, the conflict risks disrupting the country's economic activity and damage its capital stock sending it back to a recession this year unless the situation de-escalates, Wood Mackenzie said.

Oil prices could hit $130 a barrel by June if the Ukrainian conflict disrupts Russian crude flows and surge beyond that if the crisis escalates further, according to industry analysts.

Enhanced sanctions on Russia led to a rebound in the price of gold. Bullion, a hedge against inflationary pressures and a safe haven for investors, was up 1.18 per cent to $1,911.21 an ounce at 9.09am UAE time. It had hit $1,970.90 last week, its highest since January 2021, but then weakened on Friday after the US and EU sanctions stopped short of targeting Russia's energy and commodity industries.

While you're here
The specs: 2018 Volkswagen Teramont

Price, base / as tested Dh137,000 / Dh189,950

Engine 3.6-litre V6

Gearbox Eight-speed automatic

Power 280hp @ 6,200rpm

Torque 360Nm @ 2,750rpm

Fuel economy, combined 11.7L / 100km

UAE currency
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Roll of Honour

Who has won what so far in the West Asia rugby season?

 

Western Clubs Champions League

Winners: Abu Dhabi Harlequins

Runners up: Bahrain

 

Dubai Rugby Sevens

Winners: Dubai Exiles

Runners up: Jebel Ali Dragons

 

West Asia Premiership

Winners: Jebel Ali Dragons

Runners up: Abu Dhabi Harlequins

 

UAE Premiership Cup

Winners: Abu Dhabi Harlequins

Runners up: Dubai Exiles

 

Fixtures

Friday

West Asia Cup final

5pm, Bahrain (6pm UAE time), Bahrain v Dubai Exiles

 

West Asia Trophy final

3pm, The Sevens, Dubai Hurricanes v Dubai Sports City Eagles

 

Friday, April 13

UAE Premiership final

5pm, Al Ain, Dubai Exiles v Abu Dhabi Harlequins

How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

 

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Huddersfield Town permanent signings:

  • Steve Mounie (striker): signed from Montpellier for £11 million
  • Tom Ince (winger): signed from Derby County for £7.7m
  • Aaron Mooy (midfielder): signed from Manchester City for £7.7m
  • Laurent Depoitre (striker): signed from Porto for £3.4m
  • Scott Malone (defender): signed from Fulham for £3.3m
  • Zanka (defender): signed from Copenhagen for £2.3m
  • Elias Kachunga (winger): signed for Ingolstadt for £1.1m
  • Danny WIlliams (midfielder): signed from Reading on a free transfer
Top 10 in the F1 drivers' standings

1. Sebastian Vettel, Ferrari 202 points

2. Lewis Hamilton, Mercedes-GP 188

3. Valtteri Bottas, Mercedes-GP 169

4. Daniel Ricciardo, Red Bull Racing 117

5. Kimi Raikkonen, Ferrari 116

6. Max Verstappen, Red Bull Racing 67

7. Sergio Perez, Force India 56

8. Esteban Ocon, Force India 45

9. Carlos Sainz Jr, Toro Rosso 35

10. Nico Hulkenberg, Renault 26

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

It's Monty Python's Crashing Rocket Circus

To the theme tune of the famous zany British comedy TV show, SpaceX has shown exactly what can go wrong when you try to land a rocket.

The two minute video posted on YouTube is a compilation of crashes and explosion as the company, created by billionaire Elon Musk, refined the technique of reusable space flight.

SpaceX is able to land its rockets on land  once they have completed the first stage of their mission, and is able to resuse them multiple times - a first for space flight.

But as the video, How Not to Land an Orbital Rocket Booster, demonstrates, it was a case if you fail, try and try again.

ALRAWABI%20SCHOOL%20FOR%20GIRLS
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Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A
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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

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%202020%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Khaldoon%20Bushnaq%20and%20Tariq%20Seksek%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Global%20Market%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20100%3Cbr%3E%3Cstrong%3EFunding%20to%20date%3A%3C%2Fstrong%3E%20%2415%20million%3C%2Fp%3E%0A
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The%20Hunger%20Games%3A%20The%20Ballad%20of%20Songbirds%20%26%20Snakes
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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

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French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

The%20specs%3A%202024%20Mercedes%20E200
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The bio

Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home

Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

Bugatti Chiron Super Sport - the specs:

Engine: 8.0-litre quad-turbo W16 

Transmission: 7-speed DSG auto 

Power: 1,600hp

Torque: 1,600Nm

0-100kph in 2.4seconds

0-200kph in 5.8 seconds

0-300kph in 12.1 seconds

Top speed: 440kph

Price: Dh13,200,000

Bugatti Chiron Pur Sport - the specs:

Engine: 8.0-litre quad-turbo W16 

Transmission: 7-speed DSG auto 

Power: 1,500hp

Torque: 1,600Nm

0-100kph in 2.3 seconds

0-200kph in 5.5 seconds

0-300kph in 11.8 seconds

Top speed: 350kph

Price: Dh13,600,000

On Women's Day
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SPEC SHEET

Display: 10.4-inch IPS LCD, 400 nits, toughened glass

CPU: Unisoc T610; Mali G52 GPU

Memory: 4GB

Storage: 64GB, up to 512GB microSD

Camera: 8MP rear, 5MP front

Connectivity: Wi-Fi, Bluetooth 5.0, USB-C, 3.5mm audio

Battery: 8200mAh, up to 10 hours video

Platform: Android 11

Audio: Stereo speakers, 2 mics

Durability: IP52

Biometrics: Face unlock

Price: Dh849

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Super heroes

Iron Man
Reduced risk of dementia
Alcohol consumption could be an issue

Hulk
Cardiac disease, stroke and dementia from high heart rate

Spider-Man
Agility reduces risk of falls
Increased risk of obesity and mental health issues

Black Panther
Vegetarian diet reduces obesity
Unknown risks of potion drinking

Black Widow
Childhood traumas increase risk of mental illnesses

Thor
He's a god

US Industrial Market figures, Q1 2017

Vacancy Rate 5.4%

Markets With Positive Absorption 85.7 per cent

New Supply 55 million sq ft

New Supply to Inventory 0.4 per cent

Under Construction 198.2 million sq ft

(Source: Colliers)

'Nightmare Alley'

Director:Guillermo del Toro

Stars:Bradley Cooper, Cate Blanchett, Rooney Mara

Rating: 3/5

If you go

 

  • The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
  • The Double Tree by Hilton in Novosibirsk ( 7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
  • The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as  Altair-Tour ( 7 383 2125115 ) offer hiking and adventure packages.
What is a black hole?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

'Gehraiyaan'
Director:Shakun Batra

Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa

Rating: 4/5

Updated: March 06, 2022, 8:58 AM
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