Live updates: Follow the latest news on Israel-Gaza
The UN Secretary General on Friday warned that the relocation of more than one million people from northern Gaza is “extremely dangerous” and “not possible”, while the US President said he was “urgently” addressing the humanitarian crisis.
The Israeli military issued an evacuation notice giving people in northern Gaza 24 hours to leave, promising not to attack an evacuation route for a short time.
Israeli commandos meanwhile conducted raids in Gaza ahead of an expected full-scale invasion to fight Hamas after the militants' attack last weekend.
“Moving more than one million people across a densely populated war zone to a place with no food, water or accommodation, when the entire territory is under siege is extremely dangerous – and in some cases simply not possible,” UN chief Antonio Guterres said.
The Israeli military is retaliating after Hamas militants killed more than 1,300 people in Israel and took scores more hostage.
The US has repeatedly stressed its full support for its ally and is shipping munitions to the Israeli military.
But the mounting death toll in Gaza, where about 1,800 people have been killed in air strikes, is becoming an increasing concern globally and is complicating the White House's messaging of outright support for Israel.
“We're making sure Israel has what it needs to defend itself and respond to these attacks,” US President Joe Biden said on Friday.
“It's also priority for me to urgently address the humanitarian crisis in Gaza and at my direction our teams are working in the region … We can't lose sight of the fact that the overwhelming majority of Palestinians have nothing to do with Hamas, and Hamas's appalling attacks, and they're suffering as a result as well.”
White House National Security Council spokesman John Kirby called Israel's demand for so many civilians to leave a “tall order”.
“We want to see that people have the ability to leave Gaza, and that's not the case right now,” he said on MSNBC.
Israeli Prime Minister Benjamin Netanyahu gave a brief address on TV on Friday, stressing Israel's “unity” against Hamas. He said the war against the militant group will “take time” but that Israel will come out the “victor”.
“I emphasise that this is only the beginning,” he said.
Secretary of State Antony Blinken on Friday said the US was working with international organisations to ensure civilians in the Gaza Strip are safe ahead of any potential invasion.
“We’ve urged the Israelis to use every possible precaution to prevent harming civilians,” Mr Blinken said after meeting Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman in Doha.
The UN has urged Israel to reverse its evacuation order on Gaza, arguing that so many people trying to flee would be “calamitous”.
Gilad Erdan, the Israeli ambassador to the UN, defended the evacuation notice and accused the world body of putting “its head in the sand” in the build-up to the Hamas attack.
“As resources and funds poured into Gaza and went straight into Hamas terror coffers, the UN stayed silent,” Mr Erdan said.
“Now that Israel gives Gaza civilian population advanced warning to evacuate areas, as we cherish life and do all what we can to minimise civilian casualties, the UN prefers to condemn these preventive measures.”
Mr Kirby later told reporters that the White House is routinely speaking with the Israeli government about “issues regarding the law of armed conflict”, noting “there was no prior consultation” with Israel about the evacuation notice.
The potential Israeli ground invasion comes amid its complete siege on densely populated Gaza this week that has left residents without food, water, electricity and fuel. Half of Gaza's residents are children.
Collective punishment is a war crime banned by the Geneva Conventions.
“We want to make sure humanitarian assistance continues to flow into Gaza and for the innocent Palestinian people that are there,” Mr Kirby added.
He also announced that the first State Department charter flight to Israel was en route “to assist US citizens and their immediate family members” unable to get commercial tickets out of the country.
Mr Kirby sought to quell concerns about Americans in Gaza, who have so far been offered no way out of the territory.
Citing an unnamed US official, The Washington Post reported that about 500 Americans are stuck in Gaza.
“Any American citizen that's in Gaza or Israel, we certainly want to hear from them and we will do everything we can to help them leave if they want to leave. Different geography, different challenges, but that doesn't mean that we aren't still committed … and that includes the West Bank,” Mr Kirby said.
The update on Israel-bound US flights comes after Mr Biden on Friday hosted a call with families of Americans missing or taken hostage by Hamas.
In a preview from a 60 Minutes interview, Mr Biden said the families “have to know the President of the United States of America cares deeply about what's happened to them”.
The President told the families the “government is doing everything possible to bring home their loved ones”, Mr Kirby added.
Areas destroyed in Gaza – in pictures
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
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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Other IPL batting records
Most sixes: 292 – Chris Gayle
Most fours: 491 – Gautam Gambhir
Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Highest strike-rate: 177.29 – Andre Russell
Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)
Highest average: 52.16 – Vijay Shankar
Most centuries: 6 – Chris Gayle
Most fifties: 36 – Gautam Gambhir
Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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The specs
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Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
Price: Dh306,495
On sale: now
