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Hamas leaders have accepted in principle Egyptian proposals to end the militant group’s war with Israel after talks with Egyptian mediators, sources told The National on Saturday.
They said Hamas leaders have withheld final approval pending guarantees that Israel would agree to a permanent ceasefire after the Egyptian plan’s two-month timeline ends.
The talks, which began on Friday, yielded a handful of minor changes to a draft of the proposals seen by The National on Wednesday, the sources said.
The latest draft, into which Qatar and the US had a significant input, was sent to Israel late on Friday, they said.
The sources said the latest draft might undergo further changes.
If accepted, the US, Egypt and Qatar would be the deal’s guarantors.
They said the proposed deal was likely to have clauses that would not be publicised, including some details on Gaza’s future governance and security after the fighting ends.
Likely to be kept confidential are security assurances demanded by Israel to ensure it would not suffer a repeat of the surprise October 7 attack by Hamas in southern Israel that left about 1,200 dead in the bloodiest day since its creation in 1948.
The attack and capture by Hamas of about 240 hostages resulted in a devastating response by Israel, whose bombardment of Gaza since has killed more than 21,000 people, laid to waste large parts of built-up areas in the territory and displaced nearly all of its 2.3 million residents.
Leading the Hamas delegation in the talks in Egypt is Ismail Haniyeh, the group’s political leader. The delegation includes Saleh Al Arouri and Ruhi Mushtahy, two confidants of Yahya Sinwar, Hamas’s leader in Gaza and Israel’s most wanted man.
As with the earlier version seen by The National, the latest proposals are made up of three stages.
The first provides for a 20-day ceasefire during which Hamas would release children, the elderly, women and the ailing from among the hostages it has held since it attacked southern Israel on October 7.
Israel would in return free Palestinians held in its jails, with the number to be agreed later. During the ceasefire, Israel would refrain from all aerial activity over Gaza, including drone and reconnaissance flights.
The earlier version of this stage stipulated a “humanitarian deal” of 10 days after a two-day truce, during which the warring sides would indirectly negotiate the exchange of Israeli hostages and Palestinian detainees. The remainder of the earlier version remained unchanged.
The second phase would last 10 days, during which the ceasefire would continue. Hamas would release Israeli women soldiers in exchange for another batch of Palestinians jailed in Israeli prisons. Israel would move its forces away from Gaza’s urban areas and allow substantial humanitarian assistance to enter the coastal enclave.
Gaza’s 2.3 million residents would also be allowed to move freely inside the territory except for areas where Israeli forces are stationed. The only change from the earlier version is that this phase would last 10 days rather than seven.
The third phase is a month-long window to negotiate a final prisoner and hostage swap that involves Hamas freeing Israeli male soldiers in return for a yet to be determined number of Palestinian prisoners, including high-profile figures serving life sentences. Israel would also completely pull out from the densely packed strip.
It includes no changes from the earlier draft.
The talks between Hamas’s leaders and Egyptian mediators are taking place amid fierce Israeli tank fire and aerial bombing of Gaza’s southern city of Khan Younis after about 200 people were reported to have been killed in 24 hours in Israel's onslaught.
Defence Minister Yoav Gallant said troops were reaching Hamas command centres and arms depots. The Israeli military said it had destroyed a tunnel complex in the basement of one of the houses of Mr Sinwar in Gaza city.
Egypt, the US and Qatar had mediated a week-long truce between Hamas and Israel that ended on December 1. During that truce, a prisoner and hostages swap was put in place and humanitarian aid was allowed into Gaza.
Egypt, which in 1979 became the first Arab state to sign a peace treaty with Israel, borders both Gaza and Israel. It has maintained a working relationship with Hamas leaders despite its zero-tolerance policy for political Islam at home.
Like Egypt, Qatar is also a close US ally. It is home to Hamas’s political leaders and maintains informal links to Israel.
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- Mastery of audio-visual content creation.
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
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THE SPECS
2020 Toyota Corolla Hybrid LE
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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
The five pillars of Islam
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
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.”
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Shooting Ghosts: A U.S. Marine, a Combat Photographer, and Their Journey Back from War by Thomas J. Brennan and Finbarr O’Reilly
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Sholto Byrnes on Myanmar politics
COMPANY PROFILE
Name: Lamsa
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The specs
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Generation Start-up: Awok company profile
Started: 2013
Founder: Ulugbek Yuldashev
Sector: e-commerce
Size: 600 plus
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Principal Investors: self-financed by founder
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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