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The US government has not responded to a letter signed by five Nobel laureates and hundreds of prominent figures, asking President Joe Biden to halt support for Israel’s invasion of Gaza, a scholar said.
American Jewish history professor Shira Klein emailed the letter to the White House in December. “I never heard back,” she told The National.
Among the signatories Christopher Pissarides, a 2010 Nobel economics prize winner, filmmaker Ethan Coen, best known for making 1996's Fargo with his brother Joel, and Stanford Emeritus professor Joel Beinin, a prominent historian.
Their efforts came as the Gaza war sharply dented popular support for Israel, particularly in the US, where most of the signatories are from.
Many of those who signed are also Jewish.
Israel, they wrote to Mr Biden, commits “apartheid” and other transgressions in the West Bank because the US allows it to flout UN Security Council resolutions.
Pointing out that ideas to solve the conflict abound, they called for a policy shift in Washington from managing the conflict to “solving it within a short and reasonable time frame”.
“Two peoples live and will continue living between the Jordan river and the sea,” they wrote.
“The only way forward is recognising the right of both to self-determination and full equality.”
But the group is facing a struggle, and in some ways a dilemma, on how to make their ideas politically relevant.
“What we have is our words, our brains, our connections and our ability to articulate things well, which we are using to try and influence public opinion,” Prof Klein said.
She teaches Holocaust history and other topics at Chapman University in California.
One of only a few Arab signatories is Lebanese law professor Chibli Mallat, who has published a plan on how to end the conflict.
His proposal is based on treating the conflict as a century-old civil war between Israel and Palestine, which could help “seek the accommodation of two people fighting over the same land”.
First, the two sides would need to agree on non-violence as the “exclusive means” to solving the conflict.
If peace talks convene in a post-Gaza war scenario, each side should be allowed to choose their own representatives, even if hardline Israelis or members of Hamas are among them, Prof Mallat said.
The process has to encompass all Israeli and Palestinian factions, with the aim of an end to the conflict “under the two-sovereign-states banner, or one federalised system”.
Prof Mallat said the group of more than 2,000 signatories can play a role as soon as there is a ceasefire in the Gaza war because “the next day people will be looking for a political solution”.
Their approach, however, needs to become “a little bit more political”.
“The jump into the political arena is one which it seems to me worth trying,” Prof Mallat said, suggesting approaching US Senate members critical of the Biden stance on the war.
Prof Beinin mentioned Jeff Merkley, the senator from Oregon, where the professor lives.
In January, Mr Merkley visited the Rafah border crossing between Egypt and Gaza, where aid to the besieged enclave is mostly stuck because of Israeli restrictions.
He later called for an end to US “complicity in this humanitarian catastrophe”.
Prof Beinin, a specialist on the history of labour movements in modern Egypt, has campaigned for years for equality of education in Israel. In retirement, he has helped mobilise synagogue congregations in Oregon against the war.
After witnessing an unprecedented level of support for Palestinian rights in the US, he is sanguine about the prospects of a fundamental change.
“There is a tremendous opening,” Prof Beinin says, citing strong backing, particularly in among under-30s, for a ceasefire.
But he does not “get excited about positive things that could happen because things have gotten progressively worse”.
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Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
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.”