There was a mad scramble by Washington last week to prevent the seemingly inevitable – an implosion of the Middle East peace talks. In a last-ditch effort to stop Israel reneging on a promise to release a final batch of Palestinian prisoners, the US briefly threw in possibly the biggest bargaining chip in its hand: the release of Israeli spy Jonathan Pollard.
With Israel still dragging its feet, an infuriated Palestinian president Mahmoud Abbas submitted applications to join 15 United Nations conventions, thereby reviving a campaign to win international recognition of Palestinian statehood.
Although Washington will continue quietly arm-twisting the two sides a little longer, President Barack Obama is reported to be worried that US diplomacy is starting to appear “desperate”.
The negotiations’ failure could prove an important clarifying moment, signalling the effective demise of the two-state solution.
Both the US and Israel have come to rely on the endless theatrics of the two-decade peace process. Settlement freezes, prisoner releases, rows about Palestinian Authority funding and, of course, intermittent negotiations have served as useful distractions from the main developments on the ground.
As Bassem Khoury, a former Palestinian Authority minister, observed last week: “Israel hasn’t changed. It is the same colonial entity pursuing the same ethnic cleansing policies it did for decades.”
That was also the little-noticed conclusion reached by Richard Falk as he stepped down last month as the UN’s special rapporteur on human rights in the occupied territories. In line with warnings he has issued in his UN post for the past six years, Mr Falk, a professor emeritus in international law at Princeton University, said Israeli policies were designed to ethnically cleanse Palestinians from the occupied territories, and especially East Jerusalem, the expected capital of any Palestinian state.
Mr Falk noted that Israel had cynically exploited the peace process to expand its settlement programme, as it did again during these past nine months of talks.
In his meeting last month with Mr Obama at the White House, Mr Abbas unveiled a map showing that Israel had approved more than 10,000 settler homes since the talks began. That number has grown further, with Israel unveiling 2,000 more, including 700 last week in the East Jerusalem settlement of Gilo.
For every settler home built, Palestinians lose territory needed not only for a state but also to keep individual families living where they are now. The innocuous term “settlements” conceals their true role: as Israel’s primary vehicle for ethnic cleansing Palestinians through dispossession and harassment.
Washington welcomed Mr Falk’s departure, calling him a “noxious” presence. But his warnings have been echoed by others, including Israeli and Palestinian human rights organisations. Mr Falk’s findings were also confirmed by a usually circumspect group: European Union diplomats. A leaked joint report by EU consulates in the occupied territories observed that ethnic cleansing was advancing at an ever-accelerating pace in East Jerusalem.
The diplomats’ immediate concern is a “conflagration” as Israel’s extreme right is allowed ever greater access to the supremely sensitive site of the Al Aqsa mosque compound in Jerusalem’s Old City.
Pushing to be given prayer rights there, the Israeli right hope they can eventually win from their government a partition of the site, as occurred earlier at the Ibrahimi mosque in Hebron. There, the settlers’ control has effectively turned the once-thriving centre of Hebron into a Palestinian ghost town.
In East Jerusalem, Israel’s ethnic cleansing policies are at their most intense. As the EU notes, Palestinians have been starved of municipal funds, deprived of schools and blocked from commercial activity, and are leaving, heading for the greater security of West Bank cities.
In recent weeks, Palestinians in sections of East Jerusalem have even discovered that, despite its claims to treat Jerusalem as its “unified capital”, Israel has stopped supplying them with water.
Official data provide clues to Israel’s real intentions. This year’s first-quarter figures show that Israel sold more land to settlers for house building in the West Bank and East Jerusalem than it did for construction inside Israel itself.
Last week a Knesset committee effectively stymied efforts to force the government to disclose how much it is spending on settlement construction. Nonetheless, left wing legislators managed to extract partial treasury figures showing that the settlement budget has increased by at least $143 million (Dh525m) over the past six months, during the height of talks with the Palestinians.
In another sign of how Israel has been entrenching the settlements while paying lip-service to a peace process, the Israeli media revealed that 24 major infrastructure projects had been approved for the West Bank. They include more than $57 million for new settler roads and the first planned train service linking the settlements to Israel.
Israeli dispossession policies are not limited to the occupied territories. Foreign minister Avigodor Lieberman’s plan to redraw the borders to strip part of Israel’s large Palestinian minority of its citizenship received a major fillip last month. For the first time government lawyers rejected the opinion of international law experts and gave their blessing to what the liberal Haaretz daily called Mr Lieberman’s programme of “ethnic cleansing” of its own citizens.
If negotiations collapse, it should be clear that, while both sides were supposed to be talking, one side – Israel – was vigorously and unilaterally acting to further its goals.
It now seems the Palestinian leadership will respond in kind, by pushing their bid for statehood at the UN. Israel has already threatened “punitive measures”, meaning things are likely to turn yet uglier. But the era of wishful thinking may finally be coming to an end – and that will be progress in itself.
Jonathan Cook is an independent journalist based in Nazareth
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What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
THE BIO
Occupation: Specialised chief medical laboratory technologist
Age: 78
Favourite destination: Always Al Ain “Dar Al Zain”
Hobbies: his work - “ the thing which I am most passionate for and which occupied all my time in the morning and evening from 1963 to 2019”
Other hobbies: football
Favorite football club: Al Ain Sports Club
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
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Last 10 NBA champions
2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
The specs: 2019 GMC Yukon Denali
Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm
Fuel economy, combined: 12.9L / 100km
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SPECS
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It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
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Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
UAE currency: the story behind the money in your pockets
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The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
SERIE A FIXTURES
Friday (UAE kick-off times)
Sassuolo v Bologna (11.45pm)
Saturday
Brescia v Torino (6pm)
Inter Milan v Verona (9pm)
Napoli v Genoa (11.45pm)
Sunday
Cagliari v Verona (3.30pm)
Udinese v SPAL (6pm)
Sampdoria v Atalanta (6pm)
Lazio v Lecce (6pm)
Parma v Roma (9pm)
Juventus v Milan (11.45pm)
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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.”
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.