Russia to send two warships to Syrian coast

Russia is preparing to send two amphibious assault ships to the Syrian port of Tartus where Moscow operates a strategic naval base to ensure safety of its nationals.

Agence France Presse

June 18, 2012

MOSCOW // Russia is preparing to send two amphibious assault ships to the Syrian port of Tartus where Moscow operates a strategic naval base to ensure safety of its nationals, the Interfax news agency reported Monday.

"Two major amphibious ships -- The Nikolai Filchenkov and The Tsezar Kunikov -- are preparing to be dispatched to Tartus outside of their schedule," the Russian news agency quoted an unidentified officer from the Russian naval headquarters as saying.

The two ships will carry a "large" group of marines, Interfax added. There was no official confirmation of the report from the navy or the defence ministry.

The Tsezar Kunikov can carry 150 landing troops and various armaments including tanks, while The Nikolai Filchenkov can carry up to 1,500 tonnes of cargo and equipment, the report said.

Interfax said that the ships could be used to evacuate Russian nationals.

"The crews of The Nikolai Filchenkov and The Tsezar Kunikov and SB-15 rescue tug together with marines on board are able to ensure security of Russian nationals and evacuate part of the property of the logistical support base if need be," Interfax quoted a source as saying.

The protracted conflict between the ruling regime and the opposition in Syria shows no signs of easing. The opposition has demanded the deployment of armed peacekeepers after UN observers halted their work because of bloodshed.

The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”