US President Joe Biden's Middle East envoy Brett McGurk is in Cairo to try to help mediate a truce between Hamas and Israel and to discuss the escalating attacks in the Red Sea, sources told The National on Wednesday.
The senior US diplomat is in the Egyptian capital with the aim of accelerating efforts by American, Egyptian and Qatari mediators to set up a truce in Gaza, they said,
The sources said that Mr McGurk held separate discussions with Egyptian officials over the security of the Red Sea, where attacks on shipping by Yemen’s Iran-backed Houthi forces have disrupted global trade and created a regional crisis.
The US envoy was also offering Egypt reassurances over recent suggestions by Israel to take over a stretch of land that runs along the Gaza side of Egypt’s border with the coastal enclave in the Sinai Peninsula.
Egypt, a close US ally that signed a peace treaty with Israel in 1979, responded angrily to the suggestions, saying such a move would hurt relations with Israel.
Mr McGurk met on Tuesday with Egyptian Defence Minister Gen Mohammed Zaki, according to a statement by the military. “The meeting dealt with current conditions in the Gaza Strip and their impact on the security and stability of the Middle East,” but gave no details.
The visit to Cairo, however, was primarily focused on persuading Hamas and Israel to agree to a pause in the fighting during which a prisoner and hostage swap could take place.
The Gaza war began when Hamas fighters attacked southern Israel on October 7, killing about 1,300 people and taking back to the territory about 450 hostages.
The attack provoked a devastating onslaught by Israel that has killed more than 25,000 Palestinians, displaced more than 80 per cent of the enclave’s 2.3 million residents and laid to waste large parts of the strip's built-up areas.
A truce mediated by the US, Egypt and Qatar in late November secured the release of several hundred Palestinians held in Israeli prisons and scores of hostages captured by Hamas.
The truce lasted one week but has not been renewed.
The number of hostages still being held in Gaza is estimated at about 132 Israelis. Palestinian prisoners in Israeli jails are estimated to number at least 6,000, including high-profile figures sentenced to life for murder.
“Certainly, one of the things he's in the region talking about is the potential for another hostage deal, which would require a humanitarian pause of some length,” National Security Council spokesman John Kirby said in Washington of Mr McGurk’s visit to the region.
“The conversations are very sober and serious about trying to get another hostage deal,” he added.
The sources, however, said Hamas is insisting that it will accept only a permanent ceasefire and not the pause the US is proposing. Hamas also wants a complete Israeli withdrawal from Gaza and a pledge not to target the enclave again.
Israeli Prime Minister Benjamin Netanyahu has repeatedly said his country intended to be in control of security in Gaza after it achieves its goal of destroying Hamas and its military and governance capabilities.
The sources said Egyptian mediators were in direct contact with Hamas’s Gaza chief Yahya Sinwar, who they said was behind the hard-line position taken by the group.
Also demanded by the Palestinian group is a timeline for the prisoner and hostage swap that would eventually lead to all hostages and prisoners freed, the sources added.
Hostages still in Gaza include women, elderly people and ailing Israelis as well as active military service members, including at least five female soldiers. Hamas is also holding the remains of at least 20 people killed on October 7 or in the subsequent bombardment of Gaza by Israel.
Moreover, Hamas is seeking international guarantees of the proposed ceasefire and the prisoner and hostage swap.
“There is a great deal of frustration and anger among Hamas’s leaders since the assassination of Saleh Al Aruri,” one of the sources said, alluding to the senior Hamas leader killed in a suspected Israeli strike in Beirut on January 2.
A Reuters report on Wednesday appeared to agree with the information obtained by The National. It said Hamas and Israel were at odds over how to permanently end the Gaza war, and that Hamas has refused to move forward until this is resolved.
Israeli spokesman Eylon Levy said on Tuesday there would be no ceasefire that would leave Hamas in power and the hostages captured, in Gaza.
The latest flurry of diplomatic activity is taking place as fighting in Gaza intensifies, with Israeli forces staging their biggest military operation in a month as they try to capture the southern city of Khan Younis, where hundreds of thousands of displaced Palestinians are sheltering.
Israeli tanks on Tuesday shut the road from Khan Younis to the Mediterranean coast, blocking the escape route for civilians trying to reach Rafah on Gaza's southern edge bordering Egypt – now crammed with more than half the enclave's 2.3 million people.
The military said on Wednesday it had killed numerous squads of gunmen “with sniper, tank and aerial fire” in western Khan Younis, a new focus of its operations, close to the city's two main hospitals.
Israel says it has killed about 9,000 militants. Hamas officials dismissed Israeli figures as an attempt to “portray a fake victory”.
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Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
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Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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”.
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Results
6.30pm: Maiden Dh165,000 (Dirt) 1,400m. Winner: Rio Angie, Pat Dobbs (jockey), Doug Watson (trainer).
7.05pm: Handicap Dh170,000 (D) 1,600m. Winner: Trenchard, Pat Dobbs, Doug Watson.
7.40pm: Maiden Dh165,000 (D) 1,600m. Winner: Mulfit, Pat Dobbs, Doug Watson.
8.15pm: Handicap Dh210,000 (D) 1,200m. Winner: Waady, Dane O’Neill, Doug Watson.
8.50pm: Handicap Dh210,000 (D) 2,000m. Winner: Tried And True, Pat Dobbs, Doug Watson.
9.25pm:Handicap Dh185,000 (D) 1,400m. Winner: Midnight Sands, Pat Dobbs, Doug Watson.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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KILLING OF QASSEM SULEIMANI
A State of Passion
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Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
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Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
Has helped solve 15 cases of electric shocks
Enjoys travelling, reading and horse riding
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Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
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
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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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
Andor
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