An injured Palestinian man is moved past Egyptian health ministry ambulances on the Egyptian side of the Rafah border crossing with the Gaza Strip on Tuesday. AFP
An injured Palestinian man is moved past Egyptian health ministry ambulances on the Egyptian side of the Rafah border crossing with the Gaza Strip on Tuesday. AFP
An injured Palestinian man is moved past Egyptian health ministry ambulances on the Egyptian side of the Rafah border crossing with the Gaza Strip on Tuesday. AFP
An injured Palestinian man is moved past Egyptian health ministry ambulances on the Egyptian side of the Rafah border crossing with the Gaza Strip on Tuesday. AFP

Beaten but not broken, Egypt-Israel ties tested by Gaza war


Hamza Hendawi
  • English
  • Arabic

Oddly for two countries bound by a historic peace treaty and close ties, there has been no public contact between the leaders of Egypt and Israel since the Gaza war began on October 7.

Instead, there has been, from Egypt's side, the type of scathing criticism of Israeli actions in Gaza that had not been heard from Cairo in years.

Abdel Fattah El Sisi, Egypt's leader of 10 years, said Israel's relentless bombardment of Gaza since October 7 amounted to “collective punishment”. Foreign Minister Sameh Shoukry has accused Israel of war crimes in Gaza, where more than 11,000 Palestinians have been killed since the war began in October.

Cairo's Al Azhar Mosque, the world's foremost seat of Sunni Islam learning and traditionally a bastion of tolerance and moderation, has since the war been referring to Israel as the “terrorist Zionist entity” or the “criminal entity” and accusing it of genocide – language that has rarely been used by Egypt's mainstream institutions since it signed a peace treaty in 1979.

Egypt has reportedly beefed up defences in the Sinai Peninsula along its border with Israel and Gaza. It has also put its security forces there on high alert and is conducting reconnaissance flights over the area.

Palestinians inspect the site of an Israeli strike on houses in Jabalia refugee camp, in northern Gaza. Reuters
Palestinians inspect the site of an Israeli strike on houses in Jabalia refugee camp, in northern Gaza. Reuters

Israel has struck the Gaza side of the Rafah border crossing with Egypt at least four times, signalling to Cairo that no humanitarian relief will be able to enter Gaza without its approval.

The dispatch of aid, albeit in amounts way below what is needed, began on October 21.

On the Egyptian side, high-powered military committees have been set up to determine the nature and causes of undisclosed border infringements by Israel since the Gaza war began, according to Egyptian officials.

Very little has been said by either country about two incidents involving the two sides since the start of the war, one a fatal shooting of two Israeli tourists in Egypt and the other an apparent stray shell injuring nine Egyptian soldiers stationed at a border tower.

Egypt's rhetoric on Israel harkens back to the years between 1948 and 1973 when Egypt fought Israel in four full-fledged wars. The loss of tens of thousands of lives and the economic deprivation created by those wars have enshrined Israel's place in Egypt's collective consciousness as an enemy, an image that has not changed much in the 44 years since the peace treaty was signed.

That notion of Israel as an enemy has been in play since the beginning of the Gaza war, which was sparked by a deadly rampage by Hamas militants in southern Israel on October 7.

“The war crimes by and brutality of Israel against the Palestinians in Gaza have hurt the Egyptian government, exposing it before its own people as unable or helpless to act to stop them," Ammar Ali Hassan, a sociopolitical scientist and author, told The National.

Egyptian President Abdel Fattah El Sisi. EPA
Egyptian President Abdel Fattah El Sisi. EPA

In a bid to ease popular anger over Israel's actions in Gaza, the Cairo government relaxed its decade-old ban on street protests last month, allowing pro-Palestinian rallies. Fearing they could spiral out of control, authorities later moved to prevent them, using riot police in some cases.

Egypt's peace treaty with Israel is a cornerstone of their respective geo-strategic postures. That the US is its guarantor gives it a key element of constancy that neither country has been keen or willing to touch despite a series of sharp differences and squabbles over the years.

“It has always been a cold peace with no people component,” said Michael Hanna, a prominent Middle East expert with the International Crisis Group. “This Gaza war has definitely chilled relations and will lead to ruptures, but the peace treaty is not going anywhere.

“Things are made more difficult because Israel is seeking to change the reality on the ground in Gaza this time around and is not saying what exactly is its endgame.”

Beside what it says are war crimes committed by Israel in Gaza, Egypt's main quarrel with its former enemy is centred on what it sees as an Israeli military tactic to push Palestinians in the territory to move south close to the Egyptian border as a prelude to their flight into Egypt's vast Sinai Peninsula to find safety.

Mr El Sisi has used uncompromising language in a series of public warnings against pushing Gaza's Palestinians into Sinai, saying that will liquidate the Palestinian cause and endanger Egypt's national security.

Israeli armoured vehicles taking part in the ground operation against Hamas in the Gaza Strip. Reuters
Israeli armoured vehicles taking part in the ground operation against Hamas in the Gaza Strip. Reuters

“The history of Egyptian-Israeli relations since the peace treaty has been defined by ups and downs,” a senior Egyptian diplomat told The National. “What we are witnessing today is somewhat similar to what happened in 1982 when Israel invaded Lebanon to expel Palestinian guerrillas based there.

“But the difference is that back then, peace between Egypt and Israel was still new and fragile. Now, peace between them is rooted in strategic doctrines embraced by their militaries and security agencies,” said the diplomat, who has years of experience of direct dealings with the Israeli government.

“However, Israel's actions in Gaza and its perceived plan to push the enclave's residents into Sinai to find safety and shelter have been a major source of alarm in Egypt. Egypt has made it clear to the Israelis that peace between the two nations will be at serious risk if the resettlement scheme goes ahead.”

That may not be as far fetched as it seems.

“Northern Gaza has been made uninhabitable by Israel's bombardment," Mr Hanna said. "I don't see any of the tens of thousands forced to move south going back north any time soon. We believe Israel will be creating a buffer zone there.”

This and a crushing economic crisis have left Egypt in an unenviable position, but some experts believe Israel will in the end desist.

“Israel ultimately sees Egypt as a potentially formidable opponent that it does not want to provoke,” Mr Hassan said. “It does not want to see it becoming a frontline state again.

“But one must always remember that wars are not fought on battlefields alone.”

%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EGlobal%20Islamic%20economy%20to%20grow%203.1%25%20to%20touch%20%242.4%20trillion%20by%202024%3C%2Fa%3E%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fuk-economy-plunges-into-worst-ever-recession-after-record-20-4-contraction-1.1062560%22%20target%3D%22_self%22%3EUK%20economy%20plunges%20into%20worst-ever%20recession%20after%20record%2020.4%25%20contraction%3C%2Fa%3E%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EIslamic%20economy%20consumer%20spending%20to%20increase%2045%25%20to%20%243.2tn%20by%202024%3C%2Fa%3E%3C%2Fp%3E%0A
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Top%2010%20most%20competitive%20economies
%3Cp%3E1.%20Singapore%0D%3Cbr%3E2.%20Switzerland%0D%3Cbr%3E3.%20Denmark%0D%3Cbr%3E4.%20Ireland%0D%3Cbr%3E5.%20Hong%20Kong%0D%3Cbr%3E6.%20Sweden%0D%3Cbr%3E7.%20UAE%0D%3Cbr%3E8.%20Taiwan%0D%3Cbr%3E9.%20Netherlands%0D%3Cbr%3E10.%20Norway%0D%3Cbr%3E%3C%2Fp%3E%0A
Rocketman

Director: Dexter Fletcher

Starring: Taron Egerton, Richard Madden, Jamie Bell

Rating: 3 out of 5 stars 

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Five personal finance podcasts from The National

 

To help you get started, tune into these Pocketful of Dirham episodes 

·

Balance is essential to happiness, health and wealth 

·

What is a portfolio stress test? 

·

What are NFTs and why are auction houses interested? 

·

How gamers are getting rich by earning cryptocurrencies 

·

Should you buy or rent a home in the UAE?  

The specs

Engine: 6.2-litre V8

Transmission: seven-speed auto

Power: 420 bhp

Torque: 624Nm

Price: from Dh293,200

On sale: now

The specs

Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km

The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.4-litre%2C%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E617hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E750Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh630%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

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.”

COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20Znap%3C%2Fp%3E%0A%3Cp%3EStarted%3A%202017%3C%2Fp%3E%0A%3Cp%3EFounder%3A%20Uday%20Rathod%3C%2Fp%3E%0A%3Cp%3EBased%3A%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3EIndustry%3A%20FinTech%3C%2Fp%3E%0A%3Cp%3EFunding%20size%3A%20%241m%2B%3C%2Fp%3E%0A%3Cp%3EInvestors%3A%20Family%2C%20friends%3C%2Fp%3E%0A
Updated: November 15, 2023, 1:50 PM