The EU has criticised Israeli restrictions on dual use items entering Gaza as concerns grow for the second phase of the US-brokered ceasefire.
Speaking at a meeting of EU foreign ministers in Brussels on Monday, humanitarian aid commissioner Hadja Lahbib said that she saw "hundreds of trucks full of items, essential supplies, medicines, shelters, tents, sleeping bags” waiting at the Rafah border crossing during her visit two weeks ago.
"Too many trucks are … refused, full of items considered as dual use: sleeping bags because of their colour green, wheelchair because of the wheel,” Ms Lahbib said.
Dual use items are considered to have both civilian and military purposes. The UN said last month that Israel had rejected more than 100 requests by aid groups to deliver materials including blankets, winter clothes, and tools to operate water, sanitation and hygiene services. Israel said these decisions are taken on security grounds.
EU taxpayers want 'transparency'
Europe has done little in brokering the ceasefire because of foreign policy divisions between the bloc's 27 states. It remains the biggest donor of humanitarian aid to Gaza and financial backer of the Palestinian Authority.
Despite this, Ms Lahbib was not allowed to enter Gaza during her visit and the EU Commission has not been allowed to re-open its office in the enclave which was shut after the October 7, 2023, Hamas-led attacks against Israel, she said.
"It's a question also of traceability, transparency, because at the end, this is our taxpayer, you know, that pays this humanitarian aid,” Ms Lahbib said. "We need clarity,” she added, pointing at NGOs telling her "there is no written list on what is considered as dual use.”
France requested a group update on the situation from US envoys Steve Witkoff and Jared Kushner, who were scheduled to make a briefing by video call with EU foreign ministers. The goal is "to take stock of the implementation of the peace plan that we support and to which we want to contribute,” French Foreign Minister Jean-Noel Barrot said.
However, the talks did not take place because of technical difficulties, according to EU foreign affairs minister Kaja Kallas.
Two months since the ceasefire announcement, only commercial lorries enter Gaza and aid remains largely blocked at the border by Israel. Palestinians remain in dire need of winter shelter after 16 died in floods. Israel has yet to approve the reopening of the Rafah border crossing.
The deployment of an international peacekeeping force remains in limbo. Israeli troops remain in control of a largely inhabited area that represents more than half of the enclave. Its military has killed about 400 Gazans in clashes.
Israel said those targeted are linked to Hamas but reports said civilians have been killed in the confusion over the delimitation of Israel's so-called new border named the "yellow line”.
Another sticking point has been the fate of hostage Ran Gvili. His remains are the last of 28 to be located and handed over by Hamas under the first phase of ceasefire in Gaza.
Echoing Ms Lahbib's concerns, Ireland's Foreign Minister Helen McEntee said the situation was "absolutely dire for many thousands of civilians”.
"More aid is needed, in particular coming into the winter months,” Ms McEntee said.
Ireland, Spain, Luxembourg, Belgium, Slovenia and Portugal wrote a letter on Sunday to Ms Kallas, urging the bloc "to use its considerable leverage with Israel to urgently address the humanitarian catastrophe in Gaza”.
The EU – Israel's biggest export market – is divided on the Israel-Palestine conflict. Talks of sanctions against Israel put forward by the EU Commission in September were brushed aside the following month when the ceasefire was brokered.
"A failure to act in Gaza will have reverberations for years to come in other conflicts and humanitarian emergencies around the world,” said the letter, viewed by The National.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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.”
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE currency: the story behind the money in your pockets
