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The American ambassador to Jordan has engaged in public diplomacy to promote a new aid shipment to Gaza as anti-US sentiment appears to be rising in the kingdom in response to Washington's support for Israel's operation against Hamas.
In a video statement late on Tuesday, made at Amman's Marka airport, Yael Lempert speaks in front of a US C-17 Globemaster transport plane and talks to US personnel loading it with 25 tonnes of medicine and food for Gaza.
The US team “has been working day and night” to load the supplies, she says, adding that Washington is “working hard with our partners to accelerate and increase this flow”.
“As we have made it clear, humanitarian assistance is critical and urgently needed in Gaza,” Ms Lempert adds.
The US has allocated $1 billion in the last three years, the diplomat says, to fund The United Nations Relief and Works Agency for Palestine Refugees (UNRWA), the main organisation caring for Palestinians in Gaza.
In recent weeks, while Israeli bombing of Gaza intensified, many Jordanians have boycotted American and European goods.
American chains in Amman, such as Macdonald’s and Starbucks, which used to be full before the war, are now mostly empty.
Despite some boycotting American goods, the kingdom is a close ally of the US.
It has a defence pact with Washington and is one of the top three recipients of US aid, alongside Egypt and Israel.
The kingdom also has a peace treaty with Israel, which was brokered by the US in 1994, although the Jordanian Parliament voted to review the treaty this month amid rising anger over Israel's war in Gaza.
Parliament has no say over foreign policy in Jordan, where all significant powers are with the king.
Almost two weeks earlier, Jordan recalled its ambassador in Israel to protest against “the Israeli war that is killing innocent people in Gaza”, the Foreign Ministry said.
The country's mostly government-controlled media has been vehemently condemning Israel for its operation in Gaza, but have largely shied away from directly criticising Washington.
Ms Lempert made her appearance as the Pentagon announced that the military had airlifted 25 tonnes of aid to Al Arish airport in Egypt to be transported by lorry and distributed by UN agencies in Gaza.
Pentagon Press Secretary Brig Gen Pat Ryder said more flights are expected in the coming days.
Washington has been the largest contributor to the international aid operation for Gaza out of Egypt, he said, citing 113 tonnes of food aid delivered to Al Arish last week.
Despite historically strong US support for Israel, the United States has been the largest contributor for UNRWA since it was set up in the late-1940s, including $100 million announced by President Joe Biden at the start of the Israel-Gaza war.
After weeks of Israeli bombardment in Gaza, a pause was reached last week.
It has allowed release of some Israeli hostages and Palestinians detainees, as well as increased international aid flow to the besieged enclave.
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
