An open letter to President Obama



"Mr Barack Obama, President of the United States of America, I hope this message finds you well, sir. You are welcome in Palestine. Your current visit to the region clearly comes at a very delicate time: the peace process has hit a wall and Israeli settlements have killed the two-state solution," wrote Dr Fahd Abu Al Haj, an Al Quds University academic, in yesterday's edition of the West Bank newspaper Al Quds.

"Israel's racist activities kept escalating week in and week out, until we found ourselves forced to live in a full-blown religious and nationalistic apartheid system," Dr Abu Al Haj wrote.

"Israel's oppression of our prisoners is exacerbating as the Israeli government continues to snub international charters and renege on its own commitments … For instance, Israeli authorities have rearrested dozens of Palestinian prisoners who were freed as part of a duly ratified prisoner-swap deal," he noted.

"Mr President, when faced with the law of the jungle and having to deal with a tremendous, racist and tyrannical power, one is forced to defend one's dignity against injustice and inhumanity. This is what Palestinian prisoners have been put through, and it has led them to go on an indefinite hunger strike, which lasted for weeks and even months.

"Samer Al Issawi is one of them, a jailed activist who is dying at an Israeli hospital as we speak after a 230-day hunger strike. This man is being subjected to forced feeding by Israeli authorities so that they can keep him alive and prolong his agony. The same happened to Al Issawi's friends, Tariq Qaadan and others, who are on an indefinite hunger strike.

"As for Ayman Al Sharawneh, he was deported to the Gaza Strip as soon as he was released [this week] after his 260-day hunger strike. This deportation process has no basis in international law.

"Despite fervent international solidarity with the Palestinian struggle … Israel still acts like a nation above the law, stonewalling international human rights organisations instead of listening to their criticism and responding to the voice of human conscience that they represent.

"Mr President, I am turning to you in your capacity as the leader of the world's Number One superpower, a nation that always preaches the values of freedom and democracy to the international community … I turn to you also because your people have been through an excruciating experience of racism.

"We all have learnt something from Rosa Parks and Martin Luther King just as much as we did from Nelson Mandela and Bishop Desmond Tutu and all other heroes.

"We still have high hopes that you will be one of those heroes … by taking a practical step to end the suffering of Palestinian and Arab prisoners in Israeli jails."

It's time for wounds to start healing in Iraq

Yesterday marked the 10th anniversary of the US invasion of Iraq.

Commenting on the occasion, the columnist Majed Arar wrote in the Sharjah-based daily Al Khaleej: "After years of a cruel siege and a series of preparatory fabricated lies, on March 19, 2003, US forces began implementing their operation to invade Iraq that culminated on April 9 with the then US president, George W Bush, declaring the mission accomplished."

Some believed that Iraq had entered a new age of democracy and public freedom. But facts proved otherwise. Iraq's new history is tainted by blood and the illusive "democracy".

Reports reveal that more than 170,000 Iraqis were killed since the invasion and that 4,000 to 5,0000 Iraqis are killed every year in sectarian clashes. Sedition is wreaking havoc across the country. Protesters have been taking to the streets for weeks calling for social equality and expressing their disapproval of the biased government's policies.

Amid all that, a number of Al Anbar tribal leaders came up with an initiative, calling for civil and military balance in the country's institutions. It suggests a general pardon for political prisoners among other social demands.

"But for this initiative to succeed in containing tensions, the political power in Iraq must come to terms with the fact that it simply cannot turn a blind eye to the protests of thousands of its citizens," the writer said.

Attack on clerics may spark war in Lebanon

The assault on Monday by a group of young Shiite men on four Sunni clerics could be the trigger that sends Lebanon once again down the deadly road to sectarian violence, the London-based newspaper Al Quds Al Arabi said in an editorial yesterday.

"Everyone in Lebanon is on edge, which justifies the fast reaction of sect leaders trying to contain the situation."

The Amal Movement and Hizbollah, both key Shiite sects, strongly denounced the assault and said all acts of violence against religious figures amount to an attempt to stoke sedition among the Lebanese.

Besides the serious threat of a spillover from the dragging war in Syria, there now looms over Lebanon the shadow of internal conflict that could bring back the horrors of the 15-year civil war, the newspaper said.

Syrian authorities threatened earlier this week to strike border areas, including Lebanese territories where groups affiliated with the Free Syrian Army are believed to plan and launch attacks against the Syrian government forces, the newspaper added.

"The Syrian regime is not going down alone," it said in conclusion. "It will try to drag down other countries on the way, and Lebanon will be the first to feel the pull."

* Digest compiled by The Translation Desk

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Barbie
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US households add $601bn of debt in 2019

American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.

Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.

Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.

In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.

The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.

"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.

MATCH INFO

Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')

Man of the match Son Heung-min (Tottenham)

The biog

Year of birth: 1988

Place of birth: Baghdad

Education: PhD student and co-researcher at Greifswald University, Germany

Hobbies: Ping Pong, swimming, reading

 

 

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 
Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

THE BIO:

Sabri Razouk, 74

Athlete and fitness trainer 

Married, father of six

Favourite exercise: Bench press

Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn

Power drink: A glass of yoghurt

Role model: Any good man

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

Gender equality in the workplace still 200 years away

It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.

The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.

But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.

At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.

The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.

After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.

Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.

And the number of women in leadership roles has risen to 34 per cent globally, WEF said.

At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.

And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.

* Agence France Presse

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Match info

Costa Rica 0

Serbia 1
Kolarov (56')

The Specs

Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now