Israeli security chiefs have pledged to counter increasing attacks by settlers on Palestinian villages in the occupied West Bank, describing them as "nationalist terrorism".
A surge of violence over the past week in the West Bank included rampages by Israeli settlers in Palestinian towns and villages that drew international condemnation.
In the latest attack, settlers torched at least two homes in Umm Safa near Ramallah on Saturday, after a Palestinian gunman opened fire at the nearby Qalandia checkpoint, wounding a security guard before he was shot dead by forces at the scene.
A joint statement by the Israeli military, police and domestic security service chiefs on Saturday said the settler attacks amounted to "nationalist terrorism" which they pledged to fight.
The military will boost its forces in the area to prevent such violence, they said, and the Israel Security Agency will enhance arrests, including "administrative detention" in which suspects can be held without charge.
This practice is largely used by Israel against Palestinian suspects, and has been denounced by rights groups.
The statement drew sharp rebuke from two members of Prime Minister Benjamin Netanyahu's religious-nationalist government.
"The attempt to equate murderous Arab terrorism with civilian counter actions, as serious as they are, is immoral and dangerous," said Finance Minister Bezalel Smotrich.
He called on security forces to step up their efforts against Palestinian attacks and on settlers to refrain from "taking the law into their own hands".
National Security Minister Itamar Ben-Gvir, who has prior convictions for support for terrorism and incitement against Arabs, echoed Mr Smotrich's remarks on Sunday.
Mr Ben-Gvir demanded that police explain why they had blocked the gates to the settlement of Ateret to screen those coming and going and "tased a person who was standing nearby".
Mr Ben-Gvir said he "opposes any violation of the law" but cannot accept "collective punishment" of settlers.
The military said it had detained a soldier suspected of taking part in a "violent confrontation" in Umm Safa, where bystander video showed two men aiming rifles in the direction of a Palestinian shouting at them in Arabic. Gunshots could be heard.
The settlers' assaults this week followed intense gun battles in Jenin that left seven Palestinians dead, a Palestinian shooting attack that killed four Israelis and a rare Israeli drone strike against militants near Jenin.
On Friday, White House national security adviser Jake Sullivan expressed concerns about settler attacks on Palestinian villages in a call with his Israeli counterpart, hours after Mr Ben-Gvir called on settlers to expand their presence across the West Bank.
US-brokered peace talks between the Palestinians and Israel, aimed at establishing a Palestinian state in the West Bank, East Jerusalem and Gaza, collapsed in 2014 and show no sign of revival.
Most countries deem the Israeli settlements built on land seized in the 1967 war as illegal – a view Israel disputes.
Mr Netanyahu has sought to calm Western concerns about his ultranationalist partners, saying he would steer policy. But the veteran politician has raised US hackles with settlement building.
Last week he issued a general censure of rioting in the West Bank.
A member of Mr Netanyahu's Likud party questioned the designation of the settler attacks as terrorism.
"I think the [rampages] are actions, nationalist actions — as they have been designated — taken against a nationalist backdrop, and that's something that shouldn't be permitted," Energy Minister Israel Katz told Army Radio.
"Terrorism is something different."
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.”
Four-day collections of TOH
Day Indian Rs (Dh)
Thursday 500.75 million (25.23m)
Friday 280.25m (14.12m)
Saturday 220.75m (11.21m)
Sunday 170.25m (8.58m)
Total 1.19bn (59.15m)
(Figures in millions, approximate)
The details
Heard It in a Past Life
Maggie Rogers
(Capital Records)
3/5
2019 Asian Cup final
Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
WRESTLING HIGHLIGHTS
Racecard
6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m
7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m
7.40pm: Handicap (TB) $135,000 (D) 1,200m
8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m
8.50pm: Handicap (TB) $135,000 (T) 1,000m
9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m
10pm: Handicap (TB) $175,000 (T) 2,410m
The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud
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Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
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Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
Kanguva
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Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')
Man of the Match: Aaron Mooy (Huddersfield Town)
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
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- Only fly the drone during the day, and never at night
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Citadel: Honey Bunny first episode
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Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Mohammed bin Zayed Majlis
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- Ethan Nwaneri (Arsenal)
15 years, 181 days old
- Max Dowman (Arsenal)
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Price, base / as tested: Dh283,080 / Dh318,465
Engine: 2.0-litre inline four-cylinder
Transmission: Eight-speed automatic
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Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
