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In peacetime, Gaza streets are bustling during Eid Al Fitr, thrumming with the sound of Takbirat Eid as people prepare for Eid Iftar.
This year, there will be none of those traditions. In the ruins of Gaza city, the much loved Al Remal and Al Saha markets used to be filled with crowds of people purchasing new clothes for their children, as well as chocolates and Eid sweets.
Today, the two markets are completely devastated, with streets closed and shutters on any shops still standing.
Nobody is there to buy, because few venture from their homes, except for the dangerous task of seeking out aid deliveries, amid a continuing hunger crisis.
“Eid is all about children, and Gaza has lost more than 5,000 of its children. How can we celebrate Eid? Even if the Israeli soldiers were to withdraw from the city, our hearts are filled with sorrow and despair,” 50-year-old Mona Yousef told The National.
Ms Yousef has been staying at a friend's house in Gaza city's Al Nasser neighbourhood since her home in Tal Al Hawa, southern Gaza, was destroyed.
“I feel like my grandson, who should be 10 years old, is already 15. He asked me if children in other Arab countries feel the same way we do,” she added.
“There is sadness and despair evident on the faces of the people, and they are silent most of the time,” she continued.
Mohammed Aziz, 10, has been staying with his married sister in one of the UN-run schools in Jabalia, northern Gaza, since losing his parents and one of his brothers. The small town – mainly a refugee camp – has been heavily bombed by Israel, causing massive casualties.
“Most of the children around me have their parents, and I miss my father and mother. My mother used to take me to buy new clothes for Eid, but now there is no Eid,” Mohammed told The National.
During the first month of the war, Mohammed went to buy potatoes for his mother when their home was destroyed and his parents and brother killed in an Israeli air strike.
His sister is trying to fill the void left by their mother, but is struggling because she also misses their family in these difficult moments.
Hanneen Hinawi, 35, displaced from Gaza city and now living in a tent in Rafah, Gaza's southernmost city, said her children understand that they are experiencing challenging times and that there will not be an Eid celebration in the enclave this year.
“I bought Eid kaek biscuits for them, because they love it and wanted to eat it on the first day after Ramadan, as they always do,” Ms Hinawi told The National.
“Eid is about family gatherings, children playing in the park, giving them money, and buying toys, but they have deprived us of these basics.”
Ms Hinawi, who is staying in a tent with her husband and two children, is separated from her family, and her children have not seen their cousins for six months.
She said all they want is to gather with their friends and relatives in Gaza.
“Our spirits are weary, and we can no longer bear this situation. We used to fully enjoy all the festive occasions, but now all we can focus on is continuing to live our lives.”
Umm Hassan Al Massri, 65, insists on cooking somakia and distributing it to her neighbours in Deir Al Balah, central Gaza.
Somakia is a traditional food that Gazans typically cook on the last day of Ramadan and eat on the first day of Eid.
“I used to cook somakia every Eid, and I will continue to do so, but without meat because meat is now too expensive,” Ms Al Massri told The National.
About 20 members of her family are staying at her home, having been forced to flee from other parts of Gaza.
“This is not the first time we will not celebrate Eid. We are used to this situation, we have lost the joy. Each household and family has lost something in this war,” Ms Al Massri said.
“Even when the war ends, our lives will not return to how they were before.”
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.”
Company%20Profile
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RESULTS
6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.
7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.
8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.
9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.
9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
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