Jordan's Foreign Minister Ayman Safadi on Thursday called for "joint Arab action" to confront Israeli threats to redraw the Middle East.
In a strongly worded speech to Arab foreign ministers in Cairo, Mr Safadi said the Israeli government "seeks to change the map of the region to impose Israeli hegemony over our Arab world". A Palestinian representative said Israel meant to eliminate her people from Jerusalem.
His warning came as Israeli attacks killed 31 people in Gaza, according to health authorities. Several died in strikes on Gaza city - where Israel says it now controls 40 per cent of the city as a new Israeli offensive gathers pace.
Hamas said it was ready to agree a ceasefire deal in which it hands over Israeli hostages, after US President Donald Trump told the group to release "all 20" surviving captives. But Israel has shown no sign of backing off.
"The Israeli government openly declares that it wants to change the map of the region. It does not care about international law, nor is it deterred by human values," Mr Safadi said in Cairo.
Mr Safadi said that Israel has destroyed Gaza and "steals" Palestinian land in the West Bank. He added that Israel has also occupied Syrian land and "exploits the pains" of a transitional phase there after the fall of Bashar Al Assad.
Israel's actions in Syria "tamper with its national fabric, violate its sovereignty, and create strife targeting its security, stability, and unity," the Jordanian minister said.
He said Israel "continues to occupy Lebanese lands and refuses to implement even what it committed to in previous agreements".
"This is the danger that must compel a reassessment of all our tools of joint action," he said. "The challenge is unprecedented. The threat is to our common security, to the stability of our region, to our interests, and to our future.
"We must work together according to a comprehensive strategy – political, economic, legal, and defensive – that employs all available tools to protect our future and interests, and to protect the region's right to live in just and lasting peace."
Israel says it is protecting its interests by attacking militants in Syria and Lebanon, where its troops maintain a presence. It rejects claims it is committing war crimes or genocide in Gaza, where UN experts say many people are living in famine conditions.
An investigation published on Thursday by British newspaper The Guardian, the Israeli-Palestinian online outlet +972 Magazine and the Hebrew-language news website Local Call claimed that only a quarter of Gazan detainees held by the Israeli military were combatants. Israel denied that.
Pope Leo XIV called for a "prompt resumption of negotiations" over Gaza in a meeting with Israeli President Isaac Herzog at the Vatican on Thursday. Mr Herzog told him the release of hostages is a "first and essential step".
At the Cairo meeting, UAE Minister of State Khalifa Shaheen Al Marar called for mobilising global efforts for the Israelis and Palestinians to return to the negotiating table to reach a just, comprehensive, and sustainable solution to the conflict.
"The UAE is employing its contacts and political tools to pave the way for negotiations between the two sides," he said.
Mr Al Marar called for ending the war in Gaza and delivering life-saving humanitarian aid in sufficient amounts and without obstacles into the Gaza Strip. He also called for ending illegitimate Israeli practices in the West Bank, including acts by Israeli settlers and extremists.
An Israeli minister this week ramped up pressure on Prime Minister Benjamin Netanyahu to annex most of the occupied West Bank. Mr Netanyahu himself last month expressed support for the idea of an expanded "Greater Israel".
Greater Israel refers to a biblical interpretation of the nation's territory during the time of King Solomon, which could encompass not only present-day Palestinian territories but also parts of modern Jordan, Lebanon and Syria.
The war in Gaza has caused a humanitarian crisis across the territory. Health officials in Gaza say 370 people, including 131 children, have so far died of malnutrition and starvation caused by acute food shortages, most in recent weeks.
Israel says it is taking measures to improve the humanitarian conditions in Gaza, including increasing aid into the enclave. Israeli operations in the occupied West Bank have also worsened violence and economic malaise in the area.
Palestinian Foreign Minister Varsen Aghabekian Shahin said Israel was imposing a "tragic reality" on Jerusalem by trying to "alter the historical, religious, demographic, and legal character", news agency Wafa reported. She said Israel was accelerating efforts "aimed at eliminating the Palestinian presence in the city".
Protests in Israel calling to end the war and reach a deal to release the hostages have intensified in the past few weeks. Nonetheless, prospects for a ceasefire and a deal to release the remaining 48 Israeli hostages, 20 of whom are thought to still be alive, appear dim.
NBA FINALS SO FAR
(Toronto lead 3-2 in best-of-seven series)
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
Game 5 Raptors 105 Warriors 106
Game 6 Thursday, at Oakland
Game 7 Sunday, at Toronto (if needed)
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
Oppenheimer
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Company%20Profile
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KILLING OF QASSEM SULEIMANI
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Bahrain%20GP
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Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
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."
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
Arabian Gulf Cup FINAL
Al Nasr 2
(Negredo 1, Tozo 50)
Shabab Al Ahli 1
(Jaber 13)
Company%20Profile
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