Police officers investigate the area where six Palestinians managed to escape from the Gilboa prison overnight on Monday. Getty Images
Police officers investigate the area where six Palestinians managed to escape from the Gilboa prison overnight on Monday. Getty Images
Police officers investigate the area where six Palestinians managed to escape from the Gilboa prison overnight on Monday. Getty Images
Police officers investigate the area where six Palestinians managed to escape from the Gilboa prison overnight on Monday. Getty Images

Israeli forces capture two Palestinian escapees days after prison break


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Israeli forces on Friday captured two of the six Palestinians who escaped from a high-security prison this week, sparking a massive manhunt across Israel and the occupied West Bank.

“Police officers from the northern brigade arrested two of the escaped prisoners in Mount Precipice in Nazareth” in northern Israel, authorities said in a statement.

The two men captured were Islamic Jihad members and police were tipped off by Nazareth residents who the men had asked for food, Israeli media reported. Police did not provide their identities.

The detainees' predawn escape on Monday - achieved by digging a tunnel in a cell - has shocked Israel and sparked celebrations among Palestinians.

A vast search focused mainly on Jenin, a city in the northern West Bank, which is both home to most of the escapees and close to Gilboa prison.

Video on social media showed Israeli officers putting two men in the back of separate police vehicles. The two men did not appear to resist arrest.

The six escapees have either been convicted or are suspected of planning or carrying out deadly attacks against Israelis. Israel has vowed to capture all of the men and officials say they will investigate any lapses that allowed for their escape.

Palestinians have protested in support of the men across the West Bank and in East Jerusalem, seeing them as heroes in their struggle for statehood in territory Israel captured in the 1967 war.

The prison the men escaped from, about 4 kilometres from the boundary with the occupied West Bank, is one of the highest-security jails in Israel.

One of the escapees is Zakaria Zubeidi, a former commander of Fatah's Al Aqsa Martyrs Brigades in the West Bank city of Jenin who once received a pardon from Israel. Zubeidi was rearrested by Israel in 2019 after his alleged involvement in new shooting attacks.


MATCH INFO

Burnley 0

Man City 3

Raheem Sterling 35', 49'

Ferran Torres 65'

 

 

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MATCH INFO

Day 2 at the Gabba

Australia 312-1 

Warner 151 not out, Burns 97,  Labuschagne 55 not out

Pakistan 240 

Shafiq 76, Starc 4-52

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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.”

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Updated: September 10, 2021, 10:42 PM