Israeli forces launched a third day of operations Monday around the flashpoint West Bank city of Jenin after heavy gun battles in recent days and overnight arrests, the army said.
Tensions have soared since attacks in Israel killed 14 people in the past three weeks, with Prime Minister Naftali Bennett warning the state is now "on the offensive".
The Israeli army said 14 Palestinians were arrested early Monday, a day after four Palestinians were killed in separate incidents in the occupied territory, sparking criticism from international observers.
Another 13 army battalions are operating in the West Bank, a military source said.
In Jenin, thousands of mourners flooded the streets, many carrying Palestinian flags or rifles, for the funeral of Mohamed Zakarneh, 17, who died of gunshot wounds overnight.
"The resistance is in direct confrontation with the occupation and any minute we must expect a total clash," said Ziad Al Nakhala, secretary general of the militant Islamic Jihad movement.
"Jenin must not be isolated, no matter the cost."
The Israeli army said it operated on Monday in Burqa and Qallil in the northern West Bank, as well as in Al Aroub and Hebron in the south.
"Violent riots were instigated by dozens of Palestinians" near Nablus, the army said, while the Palestine Red Crescent said 24 Palestinians were wounded in Nablus overnight.
Jenin, as well as Bethlehem in the southern West Bank, declared general strikes, shutting shops, offices and official institutions.
"We will beat this terror wave with our powerful security forces," Israeli Defence Minister Benny Gantz said on Monday.
"There is the risk of escalation into a wider campaign in Gaza or some events in Lebanon."
Tension has surged during Ramadan, nearly a year after violence flared in the Hamas-ruled Gaza Strip, leading to 11 days of war.
Fourteen people in Israel have been killed in four attacks since March 22, including a shooting spree in Bnei Brak, an Orthodox Jewish city in greater Tel Aviv, carried out by a Palestinian from Jenin.
Over the same period, at least 14 Palestinians have been killed, including assailants, AFP reported.
Two of them were women shot dead on Sunday.
Maha Zaatari stabbed and lightly wounded an officer in Hebron before she was killed.
Ghada Sabatien was unarmed but failed to heed soldiers' warnings to stop near Bethlehem, the army said.
The British consulate general in Jerusalem on Monday sent condolences to her family and wrote that "a swift, thorough investigation" into her death was needed.
The Israeli military source said 30 Palestinian suspects were apprehended in the past few days, and 16 attacks against Israeli targets foiled.
Islamic Jihad has been growing in strength and capability in Gaza and the West Bank, and especially in Jenin, the Israeli military source said.
The source said Israeli forces are operating in Jenin partially because the Palestinian Authority — which has a security co-ordination agreement with Israel — has failed in the area.
Israeli troops were targeting relatives of Raad Hazem, 28, a Jenin man who last Thursday killed three Israeli civilians and wounded more than a dozen at a Tel Aviv bar before he was shot dead after a manhunt.
The Israeli army demanded the father hand himself in before a planned demolition of his family's home.
It said it had engaged in an exchange of gunfire involving the assailant's family members on Sunday, the clash in which Zakarneh was killed.
Another Palestinian from the Bethlehem area was shot dead on Sunday after hurling a Molotov cocktail at an Israeli vehicle, AFP reported.
In another incident overnight, two Israelis were shot and wounded after entering Nablus, where the previous night Joseph's tomb, a religious site, was vandalised by Palestinians.
"A group of Israeli civilians entered into the city after breaking through an unmanned military checkpoint," the army said.
Shortly after, it said, the two Israeli men emerged at another checkpoint "with gunshot wounds".
One of the men involved told public broadcaster Kan they had gone to inspect Joseph's tomb.
"We were done and heading back to Jerusalem but then we took a wrong turn" and were shot at by a "terrorist", he said.
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Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
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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.”
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
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
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