Gulf leaders call for 'immediate cessation of hostilities' in Gaza


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Gulf leaders called for an "immediate cessation of hostilities" and Israeli offensive in the Gaza Strip, demanding during the 44th Gulf Co-operation Council summit in Doha an end to the blockade on the Palestinian enclave.

The meeting came as the Israeli military pushed further south into Gaza on Tuesday, driving deep into the southern city of Khan Younis and bringing a new wave of destruction to an area crammed with displaced Palestinians who had fled from the north.

The final statement issued after the summit called for the "immediate cessation of hostilities and Israeli military operations, ensuring the provision of all humanitarian and relief aid, meeting basic needs, resuming the supply of electricity and water, and allowing the entry of fuel, food and medicine to the people of Gaza".

The leaders demanded "an end to the illegal Israeli blockade", condemning the "unlawful prevention of humanitarian aid delivery and the use of starvation of civilians as a prohibited method under international humanitarian law".

At least 16,248 people including 7,112 children and 4,885 women have been killed in Gaza by Israeli military action since October 7. Thousands more are missing and feared buried under rubble, according to the local health authorities.

Gazans say there is no safe place since a seven-day truce ended last week, with remaining towns and shelters already overwhelmed and Israel continuing to bomb the areas where it is telling people to go.

The Gulf leaders commended "the successful efforts of the state of Qatar, in partnership with the Arab Republic of Egypt and the United States of America, in reaching a humanitarian ceasefire agreement to alleviate the tragic humanitarian situation in the Gaza Strip".

The agreement allowed the release of hostages and detainees from both sides and the entry of more humanitarian convoys and relief aid, including fuel designated for humanitarian needs.

The summit expressed hope that the agreement "would contribute to stopping the escalation, the targeting and forced displacement of Palestinian civilians, leading to a complete cessation of the war on the Gaza Strip, lifting the blockade imposed on the region, and alleviating the suffering of the Palestinian people".

It called for "providing international protection to the Palestinian people and held Israel legally responsible for its ongoing attacks", calling on "all parties to the conflict to protect civilians", and demanding "the release of civilian hostages and detainees, especially women, children, the sick, and the elderly".

During the summit, Qatar’s Emir Sheikh Tamim described the situation in Gaza as a "disgrace to the international community."

Sheikh Tamim said self-defence “does not permit the crimes of genocide that Israel is committing".

The talks focused almost entirely on Gaza, with Sheikh Tamim also calling on the UN Security Council to force Israel to return to the negotiating table.

The six countries of the GCC – the UAE, Saudi Arabia, Bahrain, Kuwait, Oman and Qatar – are united in the call for a ceasefire in Gaza.

"What is happening in the Gaza Strip in terms of the occupation forces’ violation of moral and humanitarian standards is a disgrace to the international community," Sheikh Tamim said. "A temporary truce cannot be an alternative to a ceasefire in Gaza."

"Our summit is being held in light of the continuing serious tragedy to which the Palestinian people are exposed to due to violations committed by the occupation forces."

"It is shameful for the international community to allow this heinous crime to continue for nearly two months, during which the systematic and deliberate killing of innocent civilians continues, including women and children. Israel’s occupation forces have violated all political, ethical and humanitarian values."

Turkey's President Recep Tayyip Erdogan said Israeli Prime Minister Benjamin Netanyahu was "pushing the entire region into danger" in a bid to protect his political future. Mr Erdogan was in Doha for the Turkey-Qatar Supreme Strategic Committee meeting, which he leads alongside Sheikh Tamim.

"Israel's war crimes – crimes against humanity in Gaza – should not be left unanswered," Mr Erdogan said.

"Turkey's priority is to ensure a permanent ceasefire is implemented in Gaza and humanitarian aid is delivered without any interruption."

Qatari Emir Sheikh Tamim welcomes Turkey's President Recep Tayyip Erdogan at the Royal Palace in Doha. AFP
Qatari Emir Sheikh Tamim welcomes Turkey's President Recep Tayyip Erdogan at the Royal Palace in Doha. AFP

President Sheikh Mohamed also attended the summit and was received at Doha's Hamad International Airport by Sheikh Tamim.

Sheikh Mohamed led a UAE delegation that includes Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, Sheikh Tahnoun bin Zayed, National Security Adviser and Deputy Ruler of Abu Dhabi, and Sheikh Abdullah bin Zayed, Minister of Foreign Affairs.

"While we regret that the truce has not continued, we urge further efforts to achieve a ceasefire," Sheikh Mohamed said.

"We also stress that the top priority remains providing humanitarian support and ensuring safe, sustained and at-scale humanitarian corridors to respond to the increasing needs of civilians in the Gaza Strip."

Saudi Crown Prince Mohammed bin Salman led the kingdom's delegation to Qatar at Sheikh Tamim's invitation.

On other topics, the Gulf leaders affirmed that the "entire Dorra Field is located within the maritime areas of the State of Kuwait. The ownership of the natural resources in the submerged area adjacent to the Saudi-Kuwaiti divided zone, including the entire Dorra Field, is jointly owned by the Kingdom of Saudi Arabia and the State of Kuwait only", rejecting any claims of rights by any other party, including Iran.

They welcomed the agreement reached between Saudi Arabia and Iran in Beijing to resume diplomatic relations.

The GCC's Supreme Council expressed "concern about the developments in the Iranian nuclear file, reaffirming its readiness to cooperate and effectively deal with this issue" and "emphasised the importance of Iran's commitment not to exceed the uranium enrichment levels required for peaceful uses".

It reaffirmed its firm positions and previous decisions regarding the "condemnation of Iran's continued occupation of the three islands (Greater Tunb, Lesser Tunb, and Abu Musa) belonging to the United Arab Emirates".

It also stressed the importance of maintaining maritime security and waterways in the region and "countering activities that threaten the security and stability of the region and the world. This includes targeting commercial vessels, threatening maritime navigation routes and international trade, as well as oil facilities in the member states".

On Syria, the GCC council reaffirmed "its steadfast positions regarding the preservation of the unity of the Syrian Arab Republic's territories, respect for its independence and sovereignty over its lands, rejection of regional interventions in its internal affairs".

The leaders also welcomed the resumption of talks between Sudanese parties and called for a peaceful solution to the Yemeni conflict.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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.”

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

'The Coddling of the American Mind: How Good Intentions and Bad Ideas are Setting up a Generation for Failure' ​​​​
Greg Lukianoff and Jonathan Haidt, Penguin Randomhouse

UAE currency: the story behind the money in your pockets
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Director: Elie Semaan

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The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

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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.

The biog

Name: Fareed Lafta

Age: 40

From: Baghdad, Iraq

Mission: Promote world peace

Favourite poet: Al Mutanabbi

Role models: His parents 

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Our legal consultant

Name: Dr Hassan Mohsen Elhais

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

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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Top 5 concerns globally:

1. Unemployment

2. Spread of infectious diseases

3. Fiscal crises

4. Cyber attacks

5. Profound social instability

Top 5 concerns in the Mena region

1. Energy price shock

2. Fiscal crises

3. Spread of infectious diseases

4. Unmanageable inflation

5. Cyber attacks

Source: World Economic Foundation

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Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Updated: December 06, 2023, 7:56 AM