US ally Egypt is seeking guarantees from Washington that Israel will not attack exiled Hamas leaders again, sources told The National on Wednesday.
Egypt's request comes after Israel's strike on Tuesday aimed at top Hamas leaders in Qatar, which is another close Washington ally and home to the largest US military base in the Middle East.
There has been no response yet from Washington on the Egyptian request but, according to the sources, Egypt's plea stands a good chance of receiving a positive response from President Donald Trump's administration.
The White House said on Tuesday night that Mr Trump did not agree with Israel's decision to strike Hamas's exiled leaders in Qatar.
“I'm not thrilled about the whole situation,” Mr Trump told reporters separately.
“We want the [Israeli] hostages back, but we are not thrilled about the way that went down today.”
Hamas said six people were killed in the strikes, including the group's chief negotiator Khalil Al Hayah's son and aide. However, its senior leaders have survived. The sources said several Hamas leaders may have been wounded in the attack, but none seriously.
Egypt, Qatar and Turkey, a Nato member and close US ally, have in recent days discussed ways to best provide protection for Hamas's exiled leaders against possible attacks by Israel, the sources said. These discussions were prompted by intelligence reaching the three nations that Israel planned to attack senior Hamas figures in and outside Gaza as part of its war goal to wipe out the group.
As part of the talks, Egypt was considering providing a home for three or four of the group's top leaders who are involved in indirect negotiations with Israel to end the Gaza war, sources told The National.
Among the names floated for possible relocation to Cairo are senior officials Zaher Jabareen, Nazar Awadallah and Hossam Badran.
“The intention is to safeguard the negotiations at a time when Israel is sending a clear message to everyone that no one in the Arab world can stop it from doing what it pleases,” said one of the sources.
“Israel is telling everyone that there's no ceiling to what it could do.”
Egypt, Qatar and the US, have been trying without success to broker a ceasefire in Gaza since the last one collapsed in March. It was the second pause in the war that began in October 2023.
“The Gaza negotiations have been frozen,” an official who has been directly involved in the negotiations said on Wednesday. “There is no prospect at present for their resumption.”
The latest proposal for ending the war came from Mr Trump. His plan calls for Hamas to release all hostages – of whom 20 are believed to be alive and about 28 are bodies being held in Gaza – on the first day of a truce.
He also wants Hamas to surrender its arms and network of underground tunnels as well as halt the recruitment of new fighters, according to the sources.
Hamas says it will not give up its arms before Israel withdraws from Gaza, where more than 64,000 Palestinians have been killed in Israel's war, according to Gaza's Health Ministry.
Moreover, Israel's strike in Qatar on Tuesday has taken place amid growing tension between Egypt and Israel, Middle East neighbours bound by a US-sponsored peace treaty signed in 1979.
Egypt's condemnation of the attack showed a marked toughening of the anti-Israel rhetoric that has intensified in recent months.
This is mostly due to Cairo's belief that Israeli policies in Gaza are designed in large part to force the enclave's estimated two million residents to seek refuge in Egypt's Sinai Peninsula.
Egyptian President Abdel Fattah El Sisi, his ministers and pro-government media have recently taken to using the term “genocide” to describe Israel's war on Gaza. They have also accused Israel of deliberately starving Palestinians in the enclave.
“The perpetrators of this criminal act must be held accountable,” Egyptian Foreign Minister Badr Abdelatty told reporters on Tuesday night after the Qatar attack. “The arrogance of power will not bring about security to the region or to Israel itself.”
Several pro-government talk show hosts have in recent weeks been warning Israel against going to war with Egypt.
“Egypt does not favour war, but it's ready for it,” Diaa Rashwan, chairman of the State Information Service, said in a television interview last week.
“Such a war can be summed up in one phrase: Only a 100 kilometres separate Tel Aviv from Al Arish [an Egyptian city close to the Gaza border],” he said.
“By comparison, it will make the 1973 war looks like a picnic,” he added, alluding to the last of four, full-fledged wars between Egypt and Israel in which Egypt and Syria took Israel by surprise with a simultaneous attack.
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
RESULT
Shabab Al Ahli Dubai 0 Al Ain 6
Al Ain: Caio (5', 73'), El Shahat (10'), Berg (65'), Khalil (83'), Al Ahbabi (90' 2)
Mubalada World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
LAST-16 EUROPA LEAGUE FIXTURES
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
MATCH INFO
Schalke 0
Werder Bremen 1 (Bittencourt 32')
Man of the match Leonardo Bittencourt (Werder Bremen)
WHAT ARE NFTs?
Non-fungible tokens (NFTs) are tokens that represent ownership of unique items. They allow the tokenisation of things such as art, collectibles and even real estate.
An NFT can have only one official owner at one time. And since they're minted and secured on the Ethereum blockchain, no one can modify the record of ownership, not even copy-paste it into a new one.
This means NFTs are not interchangeable and cannot be exchanged with other items. In contrast, fungible items, such as fiat currencies, can be exchanged because their value defines them rather than their unique properties.
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.”
MATCH INFO
Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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