Israeli minister: Iran an environmental terrorist over oil spill


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Israel accused Iran of being linked to a recent oil spill off its shores that caused major ecological damage, calling the incident environmental terrorism.

The spill was caused by an oil tanker carrying pirated cargo from Iran to Syria last month, Israeli Environmental Protection Minister Gila Gamliel said.

The vessel sailed through the Gulf and the Red Sea without radio contact, switching its tracking devices back on before passing through Egypt's Suez Canal, Ms Gamliel said.


It turned the devices off again before entering Israeli waters in the eastern Mediterranean, and dumped oil into the sea between February 1 and 2, she said on Wednesday, naming the vessel as the Panama-flagged oil tanker Emerald.

"Iran is [conducting] terrorism by damaging the environment, and [when] Iran is damaging the environment it isn't just hurting the state of Israel," Ms Gamliel said.

There was no immediate comment from Iran.

The accusation is the second in a week in which Israel blamed its long-time enemy of wrongdoing at sea.

Prime Minister Benjamin Netanyahu blamed Tehran for an explosion aboard an Israeli-owned ship in the Gulf of Oman last week, an accusation rejected by Tehran.

Tensions have risen in the Gulf region since the United States reimposed sanctions on Iran in 2018 after then-president Donald Trump withdrew Washington from a 2015 nuclear deal between Iran and major powers.

Lebanese politicians, whose shores have also been damaged by the slick, said the government should sue the Israelis over the spill.

Kassem Hachem of the environment parliamentary committee told The National it is recommending the government file a complaint against Israel to the UN General Assembly.

“It is absolutely clear that the pollution came from the occupied Palestinian territories, in Ashkelon, which means the Israeli enemy is to blame.”

A report by the National Council for Scientific Research showed that the oil spill came from south of Lebanon, Mr Hashem said.

Ecological disaster

The oil spill blackened beaches up and down the Israeli coast, and clumps of sticky black tar washed up on the shores of south Lebanon and the Gaza Strip, as well.

Environmental groups said it was an ecological disaster that could take years to clean up.

Ms Gamliel said the vessel was "owned and operated by a Libyan", without identifying a person or company.

Libya's state-owned shipping firm, the General National Maritime Transport Company, said it had owned the vessel but sold it at auction in December.

The vessel was purchased by Emerald Marine Ltd, a company based in the Marshall Islands, according to the shipping database Equasis. Reuters was unable to reach the company for comment.

Ms Gamliel said the vessel turned its tracking devices back on again upon reaching Syria on February 3, where she said it unloaded crude oil. It then returned to Iran, where it is currently anchored, she said.

Refinitiv ship tracking data showed the vessel reported a destination of Sohar in Oman, across the Gulf of Oman from Iran, on January 20, meaning it was around Iran's coast at that time.

The ship tracking data did not show any destinations in Iran, although it is common for vessels to conceal their movements there.

The vessel reported its position after passing through the Suez Canal on February 1, Refinitiv data showed.

It next reported its position with a destination of Mersin in Turkey on February 3, showing a gap between February 1 and 3.

The vessel did not report any destinations in Syria, although it is also common for ships to conceal movements there.

An international convention requires merchant ships to have a satellite tracking device on board when travelling at sea. But a ship's captain has the discretion to switch the transponder off under certain circumstances, enabling them to avoid detection.

The Israeli environmental protection ministry said it had collected strong "circumstantial evidence" that this was the ship responsible for the spill, although it did not have "forensic evidence." It said it also ruled out any other source.

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Launched: 2016

Employees: 76

Financing stage: Series A ($4 million)

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Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

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What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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.”

Cryopreservation: A timeline
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Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

The specs

Engine: 3.5-litre V6

Power: 272hp at 6,400rpm

Torque: 331Nm from 5,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.7L/100km

On sale: now

Price: Dh149,000

 

ENGLAND SQUAD

For first two Test in India Joe Root (captain), Jofra Archer, Moeen Ali, James Anderson , Dom Bess, Stuart Broad , Rory Burns, Jos Buttler, Zak Crawley, Ben Foakes, Dan Lawrence, Jack Leach, Dom Sibley, Ben Stokes, Olly Stone, Chris Woakes. Reserves James Bracey, Mason Crane, Saqib Mahmood, Matthew Parkinson, Ollie Robinson, Amar Virdi.

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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Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

The specs: 2018 Jaguar E-Pace First Edition

Price, base / as tested: Dh186,480 / Dh252,735

Engine: 2.0-litre four-cylinder

Power: 246hp @ 5,500rpm

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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
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  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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UAE currency: the story behind the money in your pockets
'The worst thing you can eat'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
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  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates