Dozens were wounded at Al Aqsa Mosque compound on Friday in confrontations with Israeli police, hours after a visit to Jerusalem by US officials aimed at defusing tension in the city.
The Palestinian Red Crescent Society said medics treated at least 31 people at the Old City site, where Muslims had gathered for prayers. Fourteen were taken to hospitals.
Israeli police accused demonstrators of throwing rocks and fireworks at the force but no injuries among officers were reported.
Violence in recent days at Al Aqsa Mosque compound has raised international fears of a wider conflict, after similar incidents a year ago preceded an 11-day war between Israel and Gaza militants.
A US delegation led by senior State Department official Yael Lempert embarked on a Middle East tour this week.
Meeting Israeli officials on Thursday, the US envoys stressed “the importance of upholding the historic status quo at East Jerusalem’s holy places and the unacceptable firing of rockets at Israel”.
Al Aqsa Mosque compound is the third holiest site in Islam and is also revered by Jews.
The US visit comes as religious holidays converge, with Muslims marking Ramadan, Jews celebrating Passover and Christians observing Easter at the Old City’s sacred sites.
Washington has banned its embassy employees and their families from visiting the Old City after dark because of the security situation.
Palestinian President Mahmoud Abbas on Thursday urged the US envoys to “stop Israel’s aggression”, Palestinian official Hussein Al Sheikh said.
Israel, which has occupied East Jerusalem since the 1967 Arab-Israeli war, said it was acting “only in order to prevent violence and to enable prayer to continue as normal”.
Scenes of Israeli riot police using rubber bullets and tear gas at Al Aqsa prompted Jordan, custodian of the site, to convene an emergency meeting of Arab states on Thursday.
The delegates condemned actions by Israeli security forces and called for only Muslims to be allowed to worship at the compound.
Visits by observant Jews, who are not allowed to pray at the site, have continued this week. Such tours are expected to end for the final 10 days of Ramadan, in keeping with previous years.
Events in Jerusalem prompted Israeli nationalists to hold a rally on Wednesday at the edge of the Old City, although they were prevented by police from marching en masse through Palestinian neighbourhoods.
Palestinian medics have treated more than 200 wounded people at Al Aqsa Mosque compound over the past week.
Separately, police said a number of passengers were hurt on Sunday when Israeli buses were stoned by Palestinians near the Old City.
The violence in Jerusalem has been followed this week by militants launching rockets from Gaza for the first time since January, sparking Israeli retaliatory strikes on the Palestinian enclave.
In the occupied West Bank, at least 14 Palestinians have been killed by Israeli forces this month.
The Israeli military launched a series of raids in the territory after the killing of 14 people in four attacks in Israel over recent weeks. The perpetrators were either Palestinians from the West Bank or Arab Israelis.
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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.”
UAE currency: the story behind the money in your pockets
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
