A relative shows a photo of Raad Hazem, 28, a Palestinian from Jenin refugee camp who opened fire in a Tel Aviv bar on April 7, 2022. AFP
A relative shows a photo of Raad Hazem, 28, a Palestinian from Jenin refugee camp who opened fire in a Tel Aviv bar on April 7, 2022. AFP
A relative shows a photo of Raad Hazem, 28, a Palestinian from Jenin refugee camp who opened fire in a Tel Aviv bar on April 7, 2022. AFP
A relative shows a photo of Raad Hazem, 28, a Palestinian from Jenin refugee camp who opened fire in a Tel Aviv bar on April 7, 2022. AFP

Palestinian killed in Jenin as Israeli forces raid home of Tel Aviv attacker


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Israeli forces shot a man dead and injured 10 people near the West Bank city of Jenin on Saturday as they raided the home of the gunman who killed three people in Tel Aviv, the Palestinian Health Ministry said.

The ministry identified the dead man as Ahmad Saadi from the Jenin refugee camp. It said he was shot in the head and chest.

Two of the injured were shot in the abdomen and were undergoing surgery, the Palestinian Wafa news agency reported.

The Israeli army confirmed that a military operation was under way at the camp, a stronghold of armed factions in the north of the occupied Palestinian territory.

The raid follows an attack on a Tel Aviv bar by a Palestinian gunman on Thursday night. Two people died at the scene and another died of their injures on Friday. Israeli security forces found and killed the gunman hours later in Jaffa, south of Tel Aviv. He was identified as Raad Hazem, 28, from the Jenin refugee camp.

After the attack, Israeli Prime Minister Naftali Bennett said he had given security agencies “full freedom” to curb a surge in violence since March 22.

“There are not and will not be limits for this war,” Mr Bennett said on Friday.

“We are granting full freedom of action to the army, the Shin Bet and all security forces in order to defeat the terror.”

A total of 14 people have been killed in attacks in Israel since March 22, including some carried out by assailants linked to or inspired by ISIS.

Over the same period, Israeli security forces have killed at least 11 Palestinians, including assailants.

Earlier this month Israeli forces killed three Islamic Jihad militants when they came under fire during an operation to arrest them in Jenin.

The raid, in which four Israeli soldiers were wounded, followed another deadly attack on March 29 in Bnei Brak, an Orthodox Jewish city near Tel Aviv.

In that attack, a Palestinian with an assault rifle killed two Israeli civilians, two Ukrainian nationals and an Arab-Israeli policeman.

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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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Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

The specs: 2018 Kia Picanto

Price: From Dh39,500

Engine: 1.2L inline four-cylinder

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Power: 86hp @ 6,000rpm

Torque: 122Nm @ 4,000rpm

Fuel economy, combined: 6.0L / 100km

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New Zealand 153 and 56 for 1 in 22.4 overs at close
Pakistan 227
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Updated: April 09, 2022, 8:44 AM