The latest from the Israel-Gaza war - in pictures

  • Smoke ammunition fired by Israeli troops near the border with the Gaza Strip, in southern Israel. AFP
    Smoke ammunition fired by Israeli troops near the border with the Gaza Strip, in southern Israel. AFP
  • Israeli soldiers react during the funeral of Capt Liron Snir at the Mount Herzl military cemetery, Jerusalem. Reuters
    Israeli soldiers react during the funeral of Capt Liron Snir at the Mount Herzl military cemetery, Jerusalem. Reuters
  • Egyptian paramedics transport a Palestinian child arriving from Gaza to an ambulance at the Rafah border crossing. AFP
    Egyptian paramedics transport a Palestinian child arriving from Gaza to an ambulance at the Rafah border crossing. AFP
  • An Israeli tank appears through a soldier's night vision scope near the Gaza Strip in southern Israel. Getty Images
    An Israeli tank appears through a soldier's night vision scope near the Gaza Strip in southern Israel. Getty Images
  • A Palestinian mother holds her newborn in a maternity hospital in Rafah, after he was evacuated from Al Shifa Hospital in Gaza city. Reuters
    A Palestinian mother holds her newborn in a maternity hospital in Rafah, after he was evacuated from Al Shifa Hospital in Gaza city. Reuters
  • Israeli artillery train its guns towards the Gaza Strip in Southern Israel. Getty Images
    Israeli artillery train its guns towards the Gaza Strip in Southern Israel. Getty Images
  • A family watch news updates on the Israeli hostages and Palestinian prisoners swap deal, near Hebron in the Israeli-occupied West Bank. Reuters
    A family watch news updates on the Israeli hostages and Palestinian prisoners swap deal, near Hebron in the Israeli-occupied West Bank. Reuters
  • People demonstrate outside the Kyria defence complex as the political cabinet hold a meeting in Tel Aviv, Israel. Getty Images
    People demonstrate outside the Kyria defence complex as the political cabinet hold a meeting in Tel Aviv, Israel. Getty Images
  • A wounded Palestinian child is carried into Nasser Hospital following an Israeli bombardment on Khan Younis refugee camp, southern Gaza Strip. AP
    A wounded Palestinian child is carried into Nasser Hospital following an Israeli bombardment on Khan Younis refugee camp, southern Gaza Strip. AP
  • An Israeli soldier takes position behind a wall in Gaza, as Israel's war against Hamas continues. Reuters
    An Israeli soldier takes position behind a wall in Gaza, as Israel's war against Hamas continues. Reuters
  • Palestinians mourn their relatives killed in the Israeli bombardment of the Gaza Strip, at a hospital in Khan Younis. AP
    Palestinians mourn their relatives killed in the Israeli bombardment of the Gaza Strip, at a hospital in Khan Younis. AP
  • People receive bags of flour at a distribution centre of the UN agency for Palestinian refugees (UNRWA), in the Rafah refugee camp. AFP
    People receive bags of flour at a distribution centre of the UN agency for Palestinian refugees (UNRWA), in the Rafah refugee camp. AFP
  • Israel's military transports Palestinian detainees from the Gaza Strip, near Israel's border with Gaza, in southern Israel. Reuters
    Israel's military transports Palestinian detainees from the Gaza Strip, near Israel's border with Gaza, in southern Israel. Reuters
  • Palestinians amongst the rubble of a building destroyed by an Israeli air strike in Khan Younis, Gaza. Bloomberg
    Palestinians amongst the rubble of a building destroyed by an Israeli air strike in Khan Younis, Gaza. Bloomberg
  • Thomas Hand, father of Emily Hand, during a press conference by family members of hostages in Gaza, at the Israeli embassy, London. Getty Images
    Thomas Hand, father of Emily Hand, during a press conference by family members of hostages in Gaza, at the Israeli embassy, London. Getty Images
  • A man consoles a young Palestinian girl at Nasser Medical Hospital, Khan Yunis, Gaza. Getty Images
    A man consoles a young Palestinian girl at Nasser Medical Hospital, Khan Yunis, Gaza. Getty Images
  • A mother covers her daughter as a siren signals incoming rockets launched from the Gaza Strip towards Israel, in Tel Aviv. Reuters
    A mother covers her daughter as a siren signals incoming rockets launched from the Gaza Strip towards Israel, in Tel Aviv. Reuters
  • Palestinian medics care for babies evacuated from Al Shifa Hospital to the Emirates Hospital in Rafah in the southern Gaza Strip. AFP
    Palestinian medics care for babies evacuated from Al Shifa Hospital to the Emirates Hospital in Rafah in the southern Gaza Strip. AFP
  • A child collects firewood in a camp provided by the UN for displaced Palestinians who lost their homes in Israeli raids, in Khan Yunis. EPA
    A child collects firewood in a camp provided by the UN for displaced Palestinians who lost their homes in Israeli raids, in Khan Yunis. EPA
  • Personal items recovered from the Supernova music festival on display for family and relatives to collect in Caesarea, Israel. Getty Images
    Personal items recovered from the Supernova music festival on display for family and relatives to collect in Caesarea, Israel. Getty Images
  • Palestinians flee the Zeitoun district, southern Gaza Strip, as battles between Israel and Hamas continue. AFP
    Palestinians flee the Zeitoun district, southern Gaza Strip, as battles between Israel and Hamas continue. AFP
  • Thousands gathered at the State Library for the weekly protest in support of Palestinians in Melbourne, Australia. Paul Stafford / The National
    Thousands gathered at the State Library for the weekly protest in support of Palestinians in Melbourne, Australia. Paul Stafford / The National
  • Palestinian rescuers evacuate an injured woman following an Israeli air strike in Khan Younis refugee camp. AP
    Palestinian rescuers evacuate an injured woman following an Israeli air strike in Khan Younis refugee camp. AP
  • A rally to call for a ceasefire held at Dorchester Square in Montreal, Quebec, Canada. AFP
    A rally to call for a ceasefire held at Dorchester Square in Montreal, Quebec, Canada. AFP
  • Palestinians flee to the southern Gaza Strip along Salah al-Din Street, during the ongoing Israeli bombardment. AP
    Palestinians flee to the southern Gaza Strip along Salah al-Din Street, during the ongoing Israeli bombardment. AP
  • Palestinians check taxis that were hit by the Israeli military along Salah al-Din Street, on the outskirts of Gaza city. AP
    Palestinians check taxis that were hit by the Israeli military along Salah al-Din Street, on the outskirts of Gaza city. AP
  • Thousands of Palestinians flee to the southern Gaza Strip along Salah al-Din Street. AP
    Thousands of Palestinians flee to the southern Gaza Strip along Salah al-Din Street. AP
  • Israeli soldiers in the Gaza Strip amid the continuing ground operation against Hamas. Reuters
    Israeli soldiers in the Gaza Strip amid the continuing ground operation against Hamas. Reuters
  • Palestinians search for survivors in the rubble of a building following Israeli bombardment in Khan Yunis. AFP
    Palestinians search for survivors in the rubble of a building following Israeli bombardment in Khan Yunis. AFP
  • Palestinians injured in air strikes arrive at Nasser Medical Hospital in Khan Younis, Gaza. Getty Images
    Palestinians injured in air strikes arrive at Nasser Medical Hospital in Khan Younis, Gaza. Getty Images
  • Palestinians collect books from the rubble of a cultural centre following an Israeli strike in Rafah. AFP
    Palestinians collect books from the rubble of a cultural centre following an Israeli strike in Rafah. AFP
  • Notices dropped by the Israeli military over Rafah in the southern Gaza Strip calling for those remaining to leave the area. AFP
    Notices dropped by the Israeli military over Rafah in the southern Gaza Strip calling for those remaining to leave the area. AFP
  • A man walks among debris at the site of an Israeli strike in Khan Younis, amid the ongoing conflict between Israel and Hamas. Reuters
    A man walks among debris at the site of an Israeli strike in Khan Younis, amid the ongoing conflict between Israel and Hamas. Reuters
  • Israeli flags on the top of destroyed buildings in the Gaza Strip. AP
    Israeli flags on the top of destroyed buildings in the Gaza Strip. AP
  • Palestinians line to collect water in Rafah on Saturday, November 18. AP
    Palestinians line to collect water in Rafah on Saturday, November 18. AP
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

FIVE%20TRENDS%20THAT%20WILL%20SHAPE%20UAE%20BANKING
%3Cp%3E%E2%80%A2%20The%20digitisation%20of%20financial%20services%20will%20continue%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Managing%20and%20using%20data%20effectively%20will%20become%20a%20competitive%20advantage%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Digitisation%20will%20require%20continued%20adjustment%20of%20operating%20models%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Banks%20will%20expand%20their%20role%20in%20the%20customer%20life%20through%20ecosystems%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20The%20structure%20of%20the%20sector%20will%20change%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

UAE currency: the story behind the money in your pockets
Barings Bank

 Barings, one of Britain’s oldest investment banks, was
founded in 1762 and operated for 233 years before it went bust after a trading
scandal. 

Barings Bank collapsed in February 1995 following colossal
losses caused by rogue trader Nick Lesson. 

Leeson gambled more than $1 billion in speculative trades,
wiping out the venerable merchant bank’s cash reserves.  

Winners

Best Men's Player of the Year: Kylian Mbappe (PSG)

Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)

TikTok Fans’ Player of the Year: Robert Lewandowski

Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)

Best Women's Player of the Year: Alexia Putellas (Barcelona)

Best Men's Club of the Year: Chelsea

Best Women's Club of the Year: Barcelona

Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)

Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)

Best Coach of the Year: Roberto Mancini (Italy)

Best National Team of the Year: Italy 

Best Agent of the Year: Federico Pastorello

Best Sporting Director of the Year: Txiki Begiristain (Manchester City)

Player Career Award: Ronaldinho

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

UAE currency: the story behind the money in your pockets
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.

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

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.”

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Updated: January 21, 2025, 5:07 AM