Live updates: Follow the latest news on Israel-Gaza
Palestinians were protesting in the streets of the occupied West Bank on Wednesday after the killing of senior Hamas official Saleh Al Arouri by an Israeli drone strike.
Hundreds took to the streets of Ramallah, where they chanted for "revenge".
In Jerusalem, shops closed their doors in response to calls for a general strike to protest against Mr Al Arouri's killing in a suburb of Beirut on Tuesday.
Shops were also shut in Ramallah, the Palestinian Wafa news agency reported.
As deputy head of the militant group's political bureau, Mr Al Arouri is the most senior Hamas official to have been killed by Israel since the assault on Gaza began on October 7.
Tensions were high in Jerusalem as hundreds of Israeli settlers entered the Al Aqsa Mosque compound under the protection of police, sources in the city said.
Wafa quoted witnesses as saying dozens of settlers entered the compound in groups, where they conducted "provocative" tours through the courtyards of the mosque and performed Talmudic rituals near the Dome of the Rock.
Elsewhere in the West Bank, Israeli forces raided Nur Shams refugee camp in Tulkarm in a 10-hour operation, during which the site's entrances were closed off. The Israeli army reportedly exchanged gunfire with militants based in the camp.
Wafa posted photos online, showing damage to roads in Nur Shams and said dozens of homes were stormed, with civilians arrested and beaten by Israeli forces.
The Palestinian Red Crescent also said it responded to three incidents in Nur Shams camp, Wafa reported.
"Occupation forces took the detainees to the courtyard of a tile factory opposite the camp and detained them after tying them, blindfolding them and interrogating them on the ground," a Wafa journalist said. "The number of detainees has not yet been determined."
Israel pounds Gaza with air strikes
The raids in the West Bank came as Israel showed no sign of relenting in its bombardment of the southern and central Gaza Strip.
At least 128 people were killed and 261 injured across Tuesday and Wednesday in several attacks on Gaza, the Palestinian Ministry of Health said.
The latest wave of attacks brought the death toll in Gaza to 22,313 people, with 57,296 injured, since the war began, the ministry said.
Air strikes hit the southern city of Khan Younis and Al Nusseirat camp in central Gaza.
Al Aqsa Martyrs Hospital, in central Gaza, had received at least 40 dead and 98 injured by midnight on Tuesday, medical sources told The National.
In Al Nusseirat, Israeli warplanes struck a building housing dozens of people, according to Abu Rami Al Assar, who survived the attack.
“There were around 40 residents inside the building – they were preparing to eat their lunch,” he told The National.
“I don’t know how many were killed and how many are under the rubble.”
He said the building's residents included a family that had fled fighting in other parts of Gaza.
Mr Al Assar said the attack was carried out without any warning, contrary to Israeli military procedure to alert inhabitants before hitting civilian structures.
Israel had dropped leaflets on Al Nusseirat ordering people to leave seven districts, reported Reuters.
"You are in a dangerous combat area. The Israeli forces are operating heavily in your area of residence. For your safety the IDF urge you to immediately evacuate this area and leave towards the known shelters in Deir Al Balah (west)," the leaflets said.
Video footage published by news outlet Al Quds Feed on Wednesday showed people evacuating Al Nusseirat camp by foot or on carts drawn by donkeys.
Conditions in the camp have deteriorated since winter rain turned the ground to mud, while Israeli shelling has destroyed much of the infrastructure.
The Israeli military said in its daily briefing "intensive battles" with militants were continuing in Khan Younis in the south.
Israel has previously said Hamas leaders are hiding in the area.
Air strikes also hit targets near Rafah, also in southern Gaza.
The home of the Al Nahhal family in the area of Kharbat Al Adas, near Rafah, was hit by a strike, Palestinian news outlets reported. They said three people were killed, with another 10 injured and taken to Abu Yusuf Al Najjar Hospital.
On Tuesday, Health Ministry spokesman Dr Ashraf Al Qudra said 207 people were killed and 338 injured in Israeli attacks over the previous 24 hours.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
More from Neighbourhood Watch:
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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
THE 12 BREAKAWAY CLUBS
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
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The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
The biog
Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
More on Quran memorisation:
THE BIO: Mohammed Ashiq Ali
Proudest achievement: “I came to a new country and started this shop”
Favourite TV programme: the news
Favourite place in Dubai: Al Fahidi. “They started the metro in 2009 and I didn’t take it yet.”
Family: six sons in Dubai and a daughter in Faisalabad
RESULTS
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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.”
Notable cricketers and political careers
- India: Kirti Azad, Navjot Sidhu and Gautam Gambhir (rumoured)
- Pakistan: Imran Khan and Shahid Afridi (rumoured)
- Sri Lanka: Arjuna Ranatunga, Sanath Jayasuriya, Tillakaratne Dilshan (rumoured)
- Bangladesh (Mashrafe Mortaza)
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
