Palestinian prisoners in Israeli jails have called off a planned hunger strike later this week involving some 1,400 inmates after their demands were met, the Palestinian Prisoners' Club said on Wednesday.
Tensions have been running high since six militants staged a dramatic escape from a high-security jail in northern Israel on September 6, via a tunnel dug under a sink.
Four of them have since been recaptured.
Hundreds of their fellow inmates were transferred to other jails, and personal items were confiscated, according to the Palestinian Prisoners' Club. Angry prisoners had started fires in several jails.
The Palestinian Authority's commission for prisoners had announced plans for a hunger strike from Friday.
Some 1,380 prisoners -- out of more than 4,000 Palestinians held in Israeli jails -- were to start fasting on Friday, to be joined by other inmates next week.
“The situation is very bad in the prisons,” Qadri Abu Bakr, head of the Palestinian Authority's commission for prisoners, told the AFP on Tuesday. "That's why they're going on hunger strike."
On Wednesday, however, the Prisoners' Club said it had been decided to "suspend the collective hunger strike after the demands were met" including a "cessation of the collective punishments".
An Israel Prison Service spokesman said that as of Wednesday there was no indication that a hunger strike was set to begin, but refused to comment on the claim that prisoners' demands had been met.
The Red Cross said Israel had decided to allow prisoner visits that were suspended last week.
But Mr Abu Bakr also expressed his concern over the fate of the four escapees now recaptured, who the Red Cross has not been allowed to visit.
Palestinian lawyer Khaled Mahjana told AFP he would meet two of the four – Yaqub Qadri and Mohammad Ardah – on Tuesday evening.
Mr Abu Bakr also expressed fears for the health of another recaptured fugitive, Zakaria Zubeidi, following social media reports he had been sent to hospital.
Prison authorities said Monday he was still in custody and had not been hospitalised.
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The Written World: How Literature Shaped History
Martin Puchner
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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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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
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