Qatari Prime Minister Sheikh Mohammed bin Abdulrahman told the Munich Security Conference that an agreement to end the war in Gaza must be reached “even without any preconditions”.
Moments later, Israeli President Isaac Herzog said he had had a “very informed discussion” with Sheikh Mohammed in an effort to advance ceasefire talks.
“I met the Prime Minister of Qatar yesterday,” Mr Herzog said. “It was a good discussion, and I think he is making a major effort and has an enormous focus on this issue.”
Their meeting was the first acknowledged direct talks between the states, which do not recognise each other.
Answering a question from The National, Sheikh Mohammed addressed the continuing ceasefire talks and said that “we are focused on the priority of how to end this war and how to avoid further escalation”.
“We know the importance, and recognise the importance of having a deal on the hostages and getting the hostages back to their families, but also recognise the importance of stopping the war today, even without any preconditions,” he said.
“And we believe that stopping the war would bring the hostages back.
“A hostage deal would bring an end to the war. But we would like to see this happen; not any further excuses.’’
He also addressed the future of a postwar Palestinian administration.
“We would like to see a unified Palestinian government that represents the Palestinian people, that will be in the West Bank and Gaza,” Sheikh Mohammed said, adding that this would be the next step towards Palestinian statehood.
Sheikh Mohammed shared the stage with Norwegian Prime Minister Jonas Gahr Store, who answered a question about American support for Israel by saying Washington was in a “difficult position”.
“The US is a major supporter to Israel, financial, military; what is landing on Gaza is made in US,” Mr Store said.
He sounded alarm over the situation in Gaza, saying Israel's operation “has gone too far”.
Saudi Foreign Minister Prince Faisal bin Farhan noted that the international consensus on the two-state solution had strengthened, and warned Israel that rejecting efforts to recognise a Palestinian state would have consequences.
Prince Faisal said the lack of humanitarian access to Gaza was “absolutely unacceptable” and that a ceasefire must be the primary focus.
Munich Security Conference - in pictures
“We are focused on a ceasefire and on an Israeli withdrawal from Gaza, and we are focused on humanitarian access for the people of Gaza,” he said, stressing the need to find a way forward on a two-state solution.
“The only pathway towards security for everyone in the region, and Israel, is to have a Palestinian state.
“We just have to finalise what that means. It is obviously the pragmatic, correct thing to do from the point of view of regional stability.”
Egyptian Foreign Minister Sameh Shoukry rejected the idea of forcibly displacing of Gazans, as Israel's military prepares for an assault on Rafah.
Mr Shoukry said Cairo was not preparing for people to be forced to flee on to its territory.
“That constitutes a red line, the issue of displacement, which is a violation of international humanitarian law, whether it is internal or external, cannot be tolerated.
“The threats that it poses to Egypt's national security are immense, and it puts a strain on our bilateral relations with Israel.
“And we need to avoid the very tragic consequences on the civilians of Gaza, who are now amassed, 1.3 million to 1.4 million, in the most densely populated area in the world.
“You can imagine that any extensive military action there will have a devastating effect on the humanitarian situation there.”
Mr Shoukry added that the daily loss of life in Gaza would be aggravated by further escalation.
“People are already suffering for lack of shelter, food, medicine, sanitation. The current scale of the conflict is leading to a daily loss of life of men, women and children,” he said.
“We certainly do not need any further escalation of the situation.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The biog
Favourite film: Motorcycle Dairies, Monsieur Hulot’s Holiday, Kagemusha
Favourite book: One Hundred Years of Solitude
Holiday destination: Sri Lanka
First car: VW Golf
Proudest achievement: Building Robotics Labs at Khalifa University and King’s College London, Daughters
Driverless cars or drones: Driverless Cars
The biog
Prefers vegetables and fish to meat and would choose salad over pizza
Walks daily as part of regular exercise routine
France is her favourite country to visit
Has written books and manuals on women’s education, first aid and health for the family
Family: Husband, three sons and a daughter
Fathiya Nadhari's instructions to her children was to give back to the country
The children worked as young volunteers in social, education and health campaigns
Her motto is to never stop working for the country
More from our neighbourhood series:
More coverage from the Future Forum
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.”
THE SPECS
Engine: 4.4-litre V8
Transmission: Automatic
Power: 530bhp
Torque: 750Nm
Price: Dh535,000
On sale: Now
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'Moonshot'
Director: Chris Winterbauer
Stars: Lana Condor and Cole Sprouse
Rating: 3/5
The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
The Case For Trump
By Victor Davis Hanson
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Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
The five pillars of Islam
Heather, the Totality
Matthew Weiner,
Canongate
Stats at a glance:
Cost: 1.05 billion pounds (Dh 4.8 billion)
Number in service: 6
Complement 191 (space for up to 285)
Top speed: over 32 knots
Range: Over 7,000 nautical miles
Length 152.4 m
Displacement: 8,700 tonnes
Beam: 21.2 m
Draught: 7.4 m