Arab League summit leaders back Palestine and urge Libya solution in Algiers


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Arab leaders meeting in Algeria for their first summit since 2019 renewed their support to the Palestinians, pledging to seek full UN membership for Palestine and to support their effort to hold Israel accountable for its “crimes”.

In a final communique issued at the end of the two-day summit, the leaders also rejected “foreign interference” in the domestic affairs of their nations ― a thinly veiled reference to Iran and Turkey ― and stated their support for the legitimate government in Yemen fighting the Iranian-backed Houthi rebels.

They also called for a “Libyan solution” to the crisis in the North African state and said they hoped elections would soon be held to achieve “permanent political stability”. Divisions and fighting among rival factions meant that elections that had been scheduled for last December were never held.

It made no mention of Turkey's military presence in Libya or Ankara's recent deal with the Tripoli-based government for joint, offshore exploration for oil and gas in the Mediterranean.

Egypt and its ally Greece ― both at odds with Ankara ― condemned the deal and accused Turkey of fuelling tension in the energy-rich East Mediterranean.

Turning to Syria, the communique said Arab nations would collectively contribute to the search for a political settlement in the war-ravaged nation, which was thrown out of the Arab League a decade ago for its bloody crackdown on a peaceful, pro-democracy uprising.

The communique, called the “Algeria Declaration”, was issued hours after Palestinian President Mahmoud Abbas made an impassioned plea for help on the second and final day of the summit, urging participants to “hurry to the rescue of Jerusalem”.

  • Former Israeli prime minister and leader of the Likud party Benjamin Netanyahu and his wife Sara greet supporters in Jerusalem as Israelis went to the polls on Tuesday. EPA
    Former Israeli prime minister and leader of the Likud party Benjamin Netanyahu and his wife Sara greet supporters in Jerusalem as Israelis went to the polls on Tuesday. EPA
  • Mr Netanyahu greets supporters after the end of voting for the national elections. AFP
    Mr Netanyahu greets supporters after the end of voting for the national elections. AFP
  • Prime Minister Yair Lapid addresses supporters at his campaign headquarters in Tel Aviv. EPA
    Prime Minister Yair Lapid addresses supporters at his campaign headquarters in Tel Aviv. EPA
  • The prime minister's wife Lihi Lapid, centre, cheers her husband. AFP
    The prime minister's wife Lihi Lapid, centre, cheers her husband. AFP
  • The leader of the Otzma Yehudit (Jewish Power) far-right party Itamar Ben Gvir at his party's campaign headquarters in Jerusalem. AFP
    The leader of the Otzma Yehudit (Jewish Power) far-right party Itamar Ben Gvir at his party's campaign headquarters in Jerusalem. AFP
  • Otzma Yehudit party members in upbeat mood. AFP
    Otzma Yehudit party members in upbeat mood. AFP
  • A Likud party supporter responds to favourable exit polls. Getty
    A Likud party supporter responds to favourable exit polls. Getty
  • Supporters of Mr Netanyahu react as early exit polls suggest a comeback for the former leader. EPA
    Supporters of Mr Netanyahu react as early exit polls suggest a comeback for the former leader. EPA
  • An Ultra-Orthodox Jewish Israeli selects his ballot paper on the day of Israel's general election at a polling station in Jerusalem. Reuters
    An Ultra-Orthodox Jewish Israeli selects his ballot paper on the day of Israel's general election at a polling station in Jerusalem. Reuters
  • Mr Netanyahu and his wife Sara cast their ballot at a polling station in Jerusalem in the country's fifth election in less than four years. AFP
    Mr Netanyahu and his wife Sara cast their ballot at a polling station in Jerusalem in the country's fifth election in less than four years. AFP
  • A man kisses his dog after casting his ballot in Tel Aviv during the Israeli elections. AP
    A man kisses his dog after casting his ballot in Tel Aviv during the Israeli elections. AP
  • Israeli Prime Minister Yair Lapid smiles as he casts his vote at a polling station in Israel's coastal city of Tel Aviv. Mr Lapid urged the electorate to cast their ballot after voting in an election that might lead to veteran leader Benjamin Netanyahu making a comeback alongside far-right allies. Reuters
    Israeli Prime Minister Yair Lapid smiles as he casts his vote at a polling station in Israel's coastal city of Tel Aviv. Mr Lapid urged the electorate to cast their ballot after voting in an election that might lead to veteran leader Benjamin Netanyahu making a comeback alongside far-right allies. Reuters
  • Israeli Defence Minister Benny Gantz, right, head of the new centre-right National Unity Party, and his wife Revital Gantz vote at a polling station in the city of Rosh Haayin in central Israel. AFP
    Israeli Defence Minister Benny Gantz, right, head of the new centre-right National Unity Party, and his wife Revital Gantz vote at a polling station in the city of Rosh Haayin in central Israel. AFP
  • Ultra-Orthodox Jews watch their Rabbi Israel Hager vote during Israeli elections in Bnei Brak. AP
    Ultra-Orthodox Jews watch their Rabbi Israel Hager vote during Israeli elections in Bnei Brak. AP
  • An Ultra-Orthodox Jewish man votes in Israel's parliamentary election at a polling station in Bnei Brak. AP
    An Ultra-Orthodox Jewish man votes in Israel's parliamentary election at a polling station in Bnei Brak. AP
  • An Israeli man walks with a little girl towards the ballot box to cast his vote. AP
    An Israeli man walks with a little girl towards the ballot box to cast his vote. AP
  • A little girl helps her mother cast her ballot on the day of Israel's general election at a polling station in Taibe, northern Israel. Reuters
    A little girl helps her mother cast her ballot on the day of Israel's general election at a polling station in Taibe, northern Israel. Reuters
  • Israelis queue to cast their ballots on the day of Israel's general election at a polling station in Tel Aviv. Reuters
    Israelis queue to cast their ballots on the day of Israel's general election at a polling station in Tel Aviv. Reuters
  • Ultra-Orthodox Jewish Israelis wait to cast their ballots at a polling station in Jerusalem. Reuters
    Ultra-Orthodox Jewish Israelis wait to cast their ballots at a polling station in Jerusalem. Reuters
  • An Israeli man casts his ballot at a drive-through polling station for people quarantined as a result of Covid-19 in Jerusalem. Reuters
    An Israeli man casts his ballot at a drive-through polling station for people quarantined as a result of Covid-19 in Jerusalem. Reuters

As expected, the gathering, referred to as the “Palestine summit” by its Algerian hosts, went into a familiar mode on Wednesday, with expressions of support to and solidarity with the Palestinians in their decades-old conflict with Israel.

There were mentions in speeches by the Arab leaders and in the final communique of other issues such as the food shortages facing their nations, climate change and the damaging fallout from the Russia-Ukraine war, but the Palestinian question, which has bedevilled the Arab world for more than 70 years, remained at centre stage.

“Rush to the rescue of Jerusalem,” said Mr Abbas in his address, explaining that Israel was systematically erasing the Palestinian identity of the eastern part of the city and taking quick and long strides in giving it a Jewish character.

Turning to what he called Israel's intransigence and its disregard for the international community's resolutions on the Palestinian-Israeli conflict, Mr Abbas threatened to order a halt to contacts between the Palestinian Authority, which controls parts of the West Bank, and Israel.

“I must tell you in all honesty that Israel, the occupying state … has left us with no choice but to review the entirety of our relations with it,” he said. He also called for the creation of an Arab commission mandated with “exposing” Israeli crimes and securing full UN membership for Palestine.

Palestine currently has a non-member observer state at the UN but Israel and its allies including the US have rejected its attempts to join UN bodies and push for full membership.

He also wants the proposed commission to lobby for the convening of an international peace conference on Palestine and to prevent foreign countries from moving their embassies from Tel Aviv to Jerusalem.

President Abdel Fattah El Sisi restated Egypt's support for the Palestinians, declaring Cairo's commitment to a settlement based on a two-state solution that includes an independent Palestinian state with East Jerusalem as its capital.

The two leaders spoke as the prospect of Benjamin Netanyahu's return to power in Israel at the head of one of the most right-wing coalitions in Israeli history prompted concern among Palestinians who believe it could be the prelude to an escalation of conflict.

The fanfare surrounding Mr Netanyahu's performance in Tuesday's election is set against the backdrop of the deadliest spell of violence in years between Israel and the Palestinians, whose hopes of statehood appear as distant as ever with Middle East peacemaking mired in uncertainty.

The Arab summit, the first in three years, comes amid rising food and energy costs, shortages, drought in some Arab countries and the soaring cost of living across much of the Middle East and Africa.

The gathering coincided with the 68th anniversary of Algeria's war of independence against France and as an opportunity for the energy-rich North African nation — Africa's largest by territory — to showcase its place at the forefront of Middle East diplomacy.

The last Arab summit was held in Tunisia in 2019. The coronavirus pandemic meant that Arab leaders could not meet in 2020 and 2021.

UN Secretary General Antonio Guterres, attending as an observer, said the region must do all in its power to ensure the economic and political crises do not escalate.

“We must do all we can to ensure the continued success of the Black Sea Grain Initiative to provide relief to those in need, including countries in the Middle East and North Africa relying on accessible and affordable food and fertilisers — both from Ukraine and the Russian Federation,” Mr Guterres said on Tuesday.

Russia's war in Ukraine has enabled Algeria to become a main oil and gas exporter to western Europe, raising its international standing.

  • Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, attends the 31st Arab Summit as the head of the UAE delegation. Photo: The Government of Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, attends the 31st Arab Summit as the head of the UAE delegation. Photo: The Government of Dubai Media Office
  • The two-day summit commenced in the Algerian capital Algiers. Photo: The Government of Dubai Media Office
    The two-day summit commenced in the Algerian capital Algiers. Photo: The Government of Dubai Media Office
  • Algerian President Abdelmadjid Tebboune and Arab League secretary general Ahmed Aboul Gheit attend a session at the 31st Arab League summit in Algiers. Reuters
    Algerian President Abdelmadjid Tebboune and Arab League secretary general Ahmed Aboul Gheit attend a session at the 31st Arab League summit in Algiers. Reuters
  • The two-day summit ended on Wednesday. EPA
    The two-day summit ended on Wednesday. EPA
  • Arab leaders issued a communique in which they renewed their support for Palestinians and rejected 'foreign interference' in the domestic affairs of their nations ― a thinly veiled reference to Iran and Turkey. Reuters
    Arab leaders issued a communique in which they renewed their support for Palestinians and rejected 'foreign interference' in the domestic affairs of their nations ― a thinly veiled reference to Iran and Turkey. Reuters
  • This was the first Arab League summit since a string of normalisation deals with Israel that have divided the region. AFP
    This was the first Arab League summit since a string of normalisation deals with Israel that have divided the region. AFP
  • Lebanon's caretaker Prime Minister Najib Mikati arrives to attend the closing ceremony of the summit. AFP
    Lebanon's caretaker Prime Minister Najib Mikati arrives to attend the closing ceremony of the summit. AFP
  • Egyptian President Abdel Fattah El-Sisi arrives to attend the closing ceremony. EPA
    Egyptian President Abdel Fattah El-Sisi arrives to attend the closing ceremony. EPA
  • Sudanese leader Gen Abdel Fattah Al Burhan arrives at the venue of the summit to attend the closing ceremony. EPA
    Sudanese leader Gen Abdel Fattah Al Burhan arrives at the venue of the summit to attend the closing ceremony. EPA
  • Arab leaders pose for a group photo during the summit. EPA
    Arab leaders pose for a group photo during the summit. EPA
  • Tunisian President Kais Saied speaks during the opening ceremony. EPA
    Tunisian President Kais Saied speaks during the opening ceremony. EPA
  • Mr El Sisi attends the opening ceremony. EPA
    Mr El Sisi attends the opening ceremony. EPA
  • Palestinian President Mahmoud Abbas leaves after the opening ceremony. AFP
    Palestinian President Mahmoud Abbas leaves after the opening ceremony. AFP
  • Mr Tebboune reaches for the microphone after the opening ceremony. AFP
    Mr Tebboune reaches for the microphone after the opening ceremony. AFP
  • Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, is greeted by Algerian Prime Minister Aymen Benabderrahmane upon his arrival in Algiers for the summit. Photo: Dubai Media Office
    Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, is greeted by Algerian Prime Minister Aymen Benabderrahmane upon his arrival in Algiers for the summit. Photo: Dubai Media Office
  • Mr El Sisi shakes hands with Mr Tebboune before the start of the summit in Algiers. Reuters
    Mr El Sisi shakes hands with Mr Tebboune before the start of the summit in Algiers. Reuters
  • Algerian Foreign Minister Ramtane Lamamra, right, receives UN Secretary General Antonio Guterres before his appearance at the summit as a guest of honour. AP
    Algerian Foreign Minister Ramtane Lamamra, right, receives UN Secretary General Antonio Guterres before his appearance at the summit as a guest of honour. AP
  • Mr Tebboune, right, welcomes Gen Al Burhan in Algiers. AFP
    Mr Tebboune, right, welcomes Gen Al Burhan in Algiers. AFP
  • Mr Tebboune, right, welcomes President of Djibouti Ismail Omar Guelleh at Houari Boumediene International Airport in Algiers. EPA
    Mr Tebboune, right, welcomes President of Djibouti Ismail Omar Guelleh at Houari Boumediene International Airport in Algiers. EPA
  • Mr Tebboune receives Mr Saied, the Tunisian leader, upon his arrival in Algiers. EPA
    Mr Tebboune receives Mr Saied, the Tunisian leader, upon his arrival in Algiers. EPA
  • Ministers and delegates attend a preparatory meeting on Tuesday before the start of the two-day summit. AP
    Ministers and delegates attend a preparatory meeting on Tuesday before the start of the two-day summit. AP
  • Ministers and delegates attend a meeting before the 31st Arab League summit begins. AP
    Ministers and delegates attend a meeting before the 31st Arab League summit begins. AP
  • Moroccan Foreign Minister Nasser Bourita, centre, arrives in Algiers to attend the summit. AP
    Moroccan Foreign Minister Nasser Bourita, centre, arrives in Algiers to attend the summit. AP
  • Mr Tebboune, right, greets Mr Abbas at Houari Boumediene International Airport before the start of the summit. EPA
    Mr Tebboune, right, greets Mr Abbas at Houari Boumediene International Airport before the start of the summit. EPA
  • Mr Tebboune, right, receives Mohamed Al Menfi, President of the Libyan Presidential Council. EPA
    Mr Tebboune, right, receives Mohamed Al Menfi, President of the Libyan Presidential Council. EPA
  • Mr Tebboune, right, greets Macky Sall, African Union President, President of Senegal and guest of honour at the Arab League summit. EPA
    Mr Tebboune, right, greets Macky Sall, African Union President, President of Senegal and guest of honour at the Arab League summit. EPA

The conflict has created an energy crisis across Europe.

Tunisia's President Kais Saied, the departing president of the Arab League, said the Russia-Ukraine conflict had resulted in a global food crisis exacerbated by climate change and natural disasters.

Earlier on Thursday, Iraqi Foreign Minister Fuad Hussein said the outcome of the summit would mean a strong response towards Iran and Turkey's interference in his country's internal affairs.

“The Iranian and Turkish interferences in Iraq are not accepted and will have a regional response if it continues,” he said. “We are seeking to resolve the contentious points with Iran and Turkey through dialogue.”

Algerian President Abdelmadjid Tebboune, left, welcomes Iraq's President Abdul Latif Rashid. AFP
Algerian President Abdelmadjid Tebboune, left, welcomes Iraq's President Abdul Latif Rashid. AFP

Mr Hussein said Iraq refuses to be an “arena for regional and international conflicts” and the new Baghdad government wanted “to continue to improve relations with the region”.

Mostafa Haroon is a special correspondent for The National in Algiers. Hamza Hendawi reported from Cairo.

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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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Updated: November 02, 2022, 5:29 PM