Yair Lapid (left) is believed to be teaming up with Naftali Bennett, whose right-wing Yamina party holds six seats in Parliament. AFP
Yair Lapid (left) is believed to be teaming up with Naftali Bennett, whose right-wing Yamina party holds six seats in Parliament. AFP
Yair Lapid (left) is believed to be teaming up with Naftali Bennett, whose right-wing Yamina party holds six seats in Parliament. AFP
Yair Lapid (left) is believed to be teaming up with Naftali Bennett, whose right-wing Yamina party holds six seats in Parliament. AFP

Israeli politics: Is this the end of Netanyahu's leadership?


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Latest: Netanyahu era under threat as kingmaker Bennett lends support to new Israeli coalition

Political parties opposing Israeli Prime Minister Benjamin Netanyahu could announce a coalition to oust the long-time leader as early as Sunday, Israeli media reported.

After four inconclusive parliamentary elections in two years, a 28-day mandate for opposition leader Yair Lapid – who runs the centrist Yesh Atid party – to form a new government runs out on Wednesday. Mr Lapid is believed to be teaming up with Naftali Bennett, whose right-wing Yamina party has six seats in Parliament.

The new "change" bloc would include parties from the right and left and would include a rotational prime-ministerial role shared between Mr Lapid and Mr Bennett.

Still short of a parliamentary majority after a March 23 election that ended in stalemate, such a diverse grouping could be fragile and would require outside backing from Arab members of parliament whose political views differ sharply from Yamina's. 
Mr Netanyahu further fuelled speculation on Friday that his own tenure was about to end with a tweet and video warning that a dangerous "left-wing" administration was on the cards.

Israel's longest-serving prime minister, Mr Netanyahu's current term began in 2009. He previously served in the role between 1996 and 1999.

Yamina announced late on Saturday that Mr Bennett would meet and update its legislators on Sunday, after reports he had agreed to a deal in which he would serve as prime minister first, before handing over to centrist Mr Lapid.

Although the Lapid-Bennett agreement was reportedly finalised before the Israeli bombardment on Gaza began on May 10, Mr Bennett said during the hostilities that he was abandoning efforts to form a coalition with the centre and left.

But a ceasefire has so far held, a recent wave of street violence in Israel between Arabs and Jews has ebbed, and the partnership could be back on course.

Israeli Prime Minister Benjamin Netanyahu could be ousted by a new coalition. Reuters
Israeli Prime Minister Benjamin Netanyahu could be ousted by a new coalition. Reuters

Israeli political commentators, however, were taking nothing for granted.

"The anti-Prime Minister Benjamin Netanyahu government of change is still not an accomplished fact," political columnist Yossi Verter wrote in the left-wing Haaretz newspaper on Sunday.

"It's premature to pop open the champagne, and also too early to wear sackcloth," he said, questioning whether Yamina's politicians could withstand pressure from the right against a deal with Mr Lapid.

If Mr Lapid, 57, fails to announce a government by Wednesday, a fifth Israeli election since April 2019 – a prospect Mr Bennett has said he wants to avoid – is likely.

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.”

Miss Granny

Director: Joyce Bernal

Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa

3/5

(Tagalog with Eng/Ar subtitles)

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

LA LIGA FIXTURES

Thursday (All UAE kick-off times)

Sevilla v Real Betis (midnight)

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

The biog

Most memorable achievement: Leading my first city-wide charity campaign in Toronto holds a special place in my heart. It was for Amnesty International’s Stop Violence Against Women program and showed me the power of how communities can come together in the smallest ways to have such wide impact.

Favourite film: Childhood favourite would be Disney’s Jungle Book and classic favourite Gone With The Wind.

Favourite book: To Kill A Mockingbird for a timeless story on justice and courage and Harry Potters for my love of all things magical.

Favourite quote: “We make a living by what we get, but we make a life by what we give.” — Winston Churchill

Favourite food: Dim sum

Favourite place to travel to: Anywhere with natural beauty, wildlife and awe-inspiring sunsets.

The%20specs
%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

Muslim Council of Elders condemns terrorism on religious sites

The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.

It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.

“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.

The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.

UAE currency: the story behind the money in your pockets
PAST 10 BRITISH GRAND PRIX WINNERS

2016 - Lewis Hamilton (Mercedes-GP)
2015 - Lewis Hamilton (Mercedes-GP)
2014 - Lewis Hamilton (Mercedes-GP)
2013 - Nico Rosberg (Mercedes-GP)
2012 - Mark Webber (Red Bull Racing)
2011 - Fernando Alonso (Ferrari)
2010 - Mark Webber (Red Bull Racing)
2009 - Sebastian Vettel (Red Bull Racing)
2008 - Lewis Hamilton (McLaren)
2007 - Kimi Raikkonen (Ferrari)

'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Major matches on Manic Monday

Andy Murray (GBR) v Benoit Paire (FRA)

Grigor Dimitrov (BGR) v Roger Federer (SUI)

Rafael Nadal (ESP) v Gilles Muller (LUX)

Adrian Mannarino (FRA) Novak Djokovic (SRB)