Israel's Defence Minister Yoav Gallant on Monday called for calm as he visited the site of a deadly attack by Israeli settlers on Palestinians in the West Bank town of Hawara, as some members of the government expressed support for the violence.
Hundreds of settlers attacked shops, cars and homes owned by Palestinians in the town, leaving one dead and more than 100 injured in an attack condemned by the international community. The raid came after the killing of two Israelis by a Palestinian gunman.
"I call on everyone to restore calm," said Mr Gallant. "It is neither legitimate nor possible to operate individually."
However, in stark contrast to Mr Gallant's remarks, National Security Committee head Zvika Fogel said Israel needed to "take the gloves off".
"I want to restore security for the residents of the state of Israel," he said. "How do we do that? We stop using the word ‘proportionality’. We stop with our objection to collective punishment.
“Yesterday, a terrorist came from Hawara. A closed, burnt Hawara. That’s what I want to see. That’s the only way to achieve deterrence ... we need burning villages when the [military] doesn’t act.”
The US has called for an immediate de-escalation.
US State Department spokesman Ned Price said: “We condemn today’s violence in the West Bank, including the terrorist attack that killed two Israelis and settler violence, which resulted in the killing of one Palestinian, injuries to over 100 others and the destruction of extensive property.
“These developments underscore the imperative to immediately de-escalate tensions in words and deeds. The United States will continue to work with Israelis and Palestinians and our regional partners towards restoring calm.”
The divide between the appeal for calm by Mr Gallant and Mr Fogel's call to arms highlights a split within the administration of Prime Minister Benjamin Netanyahu, one of the most right-wing governments in Israeli history.
It also indicates an emerging rift between the country's security establishment and elements of the government.
This month, Israeli media quoted an unnamed senior government source slapping down National Security Minister Itamar Ben-Gvir's call for a major operation in East Jerusalem. “Decisions of such a scale are not made in statements by one minister or another on a sidewalk at the scene of an attack,” they cited him as saying.
Sunday's events also raise fears within Israel that radical fringes of the country's society are becoming increasingly emboldened by the new government and its confrontational agenda.
On Monday, security forces began dispersing people from the West Bank's Evyatar outpost after hundreds of settlers occupied it overnight, in response to the killing of the two Israeli brothers.
Visiting the scene of the shooting, Mr Gallant on Monday said the country was facing "difficult days ahead".
On Sunday, Palestinian, Israeli and other foreign leaders met in Jordan in a desperate bid by regional and international powers to calm rising tensions after an Israeli raid on Thursday on the city of Nablus, which killed 11 Palestinians and injured more than 100 in one of the bloodiest Israeli operations in years.
After what was labelled the Aqaba summit, a joint communique said Israel had pledged to "stop authorisation of any outposts for six months". But confusion followed after some government members, including the Prime Minister, vowed afterwards that there would be no pause to the authorisation of settlements.
The Israeli military has said it will “reinforce” the West Bank with “two additional battalions” and expand “security checks on routes leading in and out of [Nablus]".
The occupied West Bank is home to about 2.9 million Palestinians, as well as an estimated 475,000 Jewish settlers, who live in colonies considered illegal under international law.
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS
5pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner: Yas Xmnsor, Sean Kirrane (jockey), Khalifa Al Neyadi (trainer)
5.30pm: Falaj Hazza – Handicap (PA) Dh70,000 (D) 1,600m
Winner: Arim W’Rsan, Dane O’Neill, Jaci Wickham
6pm: Al Basrah – Maiden (PA) Dh70,000 (D) 1,800m
Winner: Kalifano De Ghazal, Abdul Aziz Al Balushi, Helal Al Alawi
6.30pm: Oud Al Touba – Handicap (PA) Dh70,000 (D) 1,800m
Winner: Pharitz Oubai, Sean Kirrane, Ibrahim Al Hadhrami
7pm: Sieh bin Amaar – Conditions (PA) Dh80,000 (D) 1,800m
Winner: Oxord, Richard Mullen, Abdalla Al Hammadi
7.30pm: Jebel Hafeet – Conditions (PA) Dh85,000 (D) 2,000m
Winner: AF Ramz, Sean Kirrane, Khalifa Al Neyadi
8pm: Al Saad – Handicap (TB) Dh70,000 (D) 2,000m
Winner: Sea Skimmer, Gabriele Malune, Kareem Ramadan
AUSTRALIA%20SQUAD
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
More on Quran memorisation:
HEADLINE HERE
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