Hamas and PIJ leaders demand Israeli withdrawal from Gaza under ceasefire deal


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The leaders of Hamas and Palestinian Islamic Jihad have insisted on the withdrawal of Israeli troops from Gaza as part of a deal for a ceasefire in the Palestinian enclave devastated by nearly four months of war.

Hamas, the dominant group in Gaza, is considering its response to a new proposal to end the fighting that was drawn up Egyptian, American, Israeli and Qatari mediators who met in Paris this week.

The plan includes a ceasefire of up to three months, during which Hamas would release in batches 132 hostages seized during its attacks in southern Israel on October 7 that triggered the war. Israel would in return free Palestinians held in its prisons and allow more aid into Gaza, where its military offensive has displaced most of the population and created a humanitarian crisis.

Hamas political leader Ismail Haniyeh and PIJ secretary general Ziyad Nakhaleh agreed that the plan should provide for an end to Israel's offensive, an end to the blockade of Gaza and postwar reconstruction of the Palestinian enclave, according to a Hamas statement on Friday.

Hamas is believed to be holding about 130 hostages taken during its attacks, in which it also killed about 1,200 people. More than 100 of them were released during brief truce in November, in return for the freeing of Palestinians detained in Israel.

Israel's military response to the attacks has devastated Gaza and killed more than 27,000 people so far.

Senior Hamas leader Osama Hamdan said separately on Friday that the group was demanding that Marwan Barghouti, a senior member of Fatah – Hamas's main Palestinian political rival, be included among thousands of Palestinians whose release it is seeking.

Barghouti, a leader in the West Bank during the second Palestinian uprising in the early 2000s, is serving five life terms for his role in several deadly attacks. He has been in prison for more than two decades but is considered a possible national leader.

“Hamas wants to show to the Palestinian people that they are not a closed movement. They represent part of the Palestinian social community. They are trying to seem responsible,” said Qadoura Fares, who heads the Palestinian Ministry of Prisoner Affairs in the occupied West Bank and has long been involved in negotiations over prisoner releases.

Hamas's insistence on large-scale prisoner releases and an end to the fighting in Gaza puts the group at odds with the multi-stage plan arrived at in Paris this week. That proposal does not include a permanent ceasefire, but rather an extended truce.

The suggested deal would also provide for the entry into Gaza of substantial humanitarian aid to alleviate the suffering of the enclave's 2.3 million residents after nearly four months of Israeli bombardment.

After days of expressing optimism over progress towards a deal, mediators were still working to close wide gaps between Israel and Hamas. US Secretary of State Antony Blinken planned to fly to the region on Sunday to help push the efforts, making stops in Saudi Arabia, Egypt, Qatar, Israel and the occupied West Bank, the State Department said.

Pressure is building on Israel from its western allies to pause its war on Gaza, where nearly half of the fatalities have been children.

Israel has promised to destroy Hamas militarily and free all of the hostages in Gaza before ending its war.

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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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The%20specs
%3Cp%3E%0D%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E666hp%20at%206%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E850Nm%20at%202%2C300-4%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EQ1%202023%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh1.15%20million%20(estimate)%3C%2Fp%3E%0A
COMPANY%20PROFILE
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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.”

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

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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  

Updated: February 03, 2024, 10:51 AM