Streaks of light are seen as Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip towards Israel, as seen from Ashkelon, Israel. Reuters
Streaks of light are seen as Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip towards Israel, as seen from Ashkelon, Israel. Reuters
Streaks of light are seen as Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip towards Israel, as seen from Ashkelon, Israel. Reuters
Streaks of light are seen as Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip towards Israel, as seen from Ashkelon, Israel. Reuters

Rockets fired into Israel after war planes hit Gaza


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Several rockets have been fired into southern Israel from the Gaza Strip after Israeli aircraft hit Gaza militant sites early on Thursday.

The Israeli military said four rockets were fired and intercepted by air defences, AP reported.

It followed an earlier rocket strike from Gaza into Israel late on Wednesday – the second such attack in a week – that triggered Israeli air strikes.

The cross-border violence follows rising incidents of Israeli-Palestinian violence in Jerusalem over recent weeks.

There were no immediate reports of casualties or damage and no one claimed the rocket strikes.

Israel holds the Hamas militant group that rules Gaza responsible for all rocket fire and typically responds with air strikes within hours.

Israeli-Palestinian tensions have spiked after violence at the Al Aqsa Mosque compound since last week. At least 20 people were injured in confrontations with Israeli police at Al Aqsa on Thursday, the Palestinian Red Crescent said.

An official of the trust which administers the site, said large numbers of police used stun grenades to clear the compound. Police also fired stun grenades and rubber-coated bullets against Palestinians who had sealed themselves inside the mosque, he told Associated Press.

Early on Thursday, Israeli war planes conducted a series of air strikes at a Hamas military site in the central Gaza Strip, local media reported.

The Israeli military said the strikes were aimed at a militant site and an entrance of a tunnel leading to an underground complex holding “raw chemicals” to make rockets.

The Israeli military later said its planes attacked another Hamas compound after an anti-aircraft missile was fired from Gaza during the initial air strikes. It said the missile failed to hit its target and no injuries or damage were reported from the anti-aircraft missile.

Hamas had earlier issued vague threats over a planned march through Jerusalem by Israeli ultra-nationalists. But Israeli police blocked roads and prevented the marchers from reaching dense Palestinian neighborhoods in and around the Old City, after a similar event nearly a year ago helped trigger an Israel-Gaza war.

Before the demonstration, Israeli Prime Minister Naftali Bennett said security forces would prevent far-right politician Itamar Ben-Gvir from reaching Damascus Gate.

“I will not allow a political provocation by Ben-Gvir to endanger IDF [Israeli military] soldiers and Israel Police officers,” said the right-wing prime minister.

Al Aqsa Mosque violence – in pictures

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What is safeguarding?

“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.

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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Defence review at a glance

• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”

• Prioritise a shift towards working with AI and autonomous systems

• Invest in the resilience of military space systems.

• Number of active reserves should be increased by 20%

• More F-35 fighter jets required in the next decade

• New “hybrid Navy” with AUKUS submarines and autonomous vessels

SPECS

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Engine: 3.7-litre V6

Transmission: seven-speed automatic

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A Long Way Home by Peter Carey
Faber & Faber

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Name: Hassan Mohsen Elhais

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

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.”

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Updated: April 21, 2022, 8:29 AM