US Secretary of State Antony Blinken pictured in Riyadh with foreign ministers and senior officials from Saudi Arabia, Qatar, Egypt, Palestine, Jordan and the UAE. Wam
US Secretary of State Antony Blinken pictured in Riyadh with foreign ministers and senior officials from Saudi Arabia, Qatar, Egypt, Palestine, Jordan and the UAE. Wam
US Secretary of State Antony Blinken pictured in Riyadh with foreign ministers and senior officials from Saudi Arabia, Qatar, Egypt, Palestine, Jordan and the UAE. Wam
US Secretary of State Antony Blinken pictured in Riyadh with foreign ministers and senior officials from Saudi Arabia, Qatar, Egypt, Palestine, Jordan and the UAE. Wam

Israel and Hamas urged to agree to Gaza war ceasefire


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Israel and Hamas have come under renewed pressure to agree to a temporary ceasefire in Gaza as international diplomats met in Riyadh to discuss solutions to the crisis.

Indirect negotiations to secure a truce and hostage deal after more than six months of war in the enclave have entered a "decisive" phase, according to sources familiar with the talks in Cairo.

The Hamas delegation led by Khalil Al Haya and senior officials from Israel's intelligence services are meeting Egyptian and US officials to discuss a potential new deal.

The latest proposals seem to align more with Hamas's position than previous negotiations, say the sources, with Israel reportedly re-entering discussions over demands it previously rejected.

“Everything is back on the table now. These are decisive talks,” a Palestinian political source said.

The length of the ceasefire has been a central sticking point in talks to end Israel's offensive in Gaza, which has killed 34,400 Palestinians since Hamas killed around 1,200 in its attack on southern Israel. Hamas wants a permanent ceasefire, while Israel prefers a temporary ceasefire aimed primarily at facilitating the release of the hostages before it returns to its objective of attempting to destroy Hamas.

The new deal envisages an initial limited truce with a staged hostage swap as in previous deals, but Israel has also reportedly agreed to a "second phase" of the truce that includes a "period of sustained calm" of up to a year.

World leaders and diplomats urged both sides to accept the deal as Gaza topped the agenda at the World Economic Forum meeting in Riyadh.

Egypt's Foreign Minister Sameh Shoukry told the meeting that "the proposal has taken into account the positions of both sides."

"I hope that all will rise to the occasion," he said.

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan welcomed the progress but said that “any ceasefire deal must be a permanent ceasefire,” and described the long-term solution as a "credible, irreversible pathway to a Palestinian state."

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan said the truce "must be permanent" at the WEF meeting in Riyadh. AFP
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan said the truce "must be permanent" at the WEF meeting in Riyadh. AFP

WEF President Børge Brende said Gaza is now the current global priority as it "has the potential of escalating conflicts so much in the region”.

“There is much more pressure now for a political path and the future two-state solution than I have seen I would say maybe in decades,” he told The National.

Speaking at the closing session, the UK's Lord Cameron told participants all pressure should be exerted on Hamas to accept the deal, which he described as a "pretty generous offer".

“I hope Hamas do take this deal and frankly all the pressure in the world and all the eyes of the world should be on them today, saying ‘take that deal’. It will bring about this stop in the fighting that we all want to see so badly.”

He also said that “Hamas's leadership must leave Gaza ... you have to see a political future for the Palestinian people and security for Israel”.

US Secretary of State Antony Blinken also attended the meeting in Riyadh, where he discussed Gaza as well as the potential normalisation of Saudi-Israeli ties with Prince Faisal.

Mr Blinken portrayed the latest proposal as "extraordinarily, extraordinarily generous on the part of Israel" and urged Hamas to "decide quickly".

The US has also been pressuring Israel to accept a deal.

Hours before the delegations arrived in Cairo, US President Joe Biden spoke to the Israeli Prime Minister Benjamin Netanyahu to review the “ongoing talks to secure the release of hostages together with an immediate ceasefire in Gaza”, the White House said in a statement.

Alongside pushing for a ceasefire, the US has repeatedly warned the Israeli government against launching a much-feared invasion of Rafah in southern Gaza, where more than one million Palestinians are sheltering.

Mr Netanyahu has repeatedly said Israel will attack Rafah as part of his vow to destroy Hamas.

Speaking from Riyadh, Jordan's Foreign Minister Ayman Al Safadi said Mr Netanyahu "doesn't want peace" and Israel hasn't acted as a "partner" to the Arab world.

“We, as Arabs, know what we want and what we can do ... but we do not have a partner [in Israel]," he said.

“What’s missing is what Israel needs to do and what the international community needs to do."

Jordan's Foreign Minister Ayman Al Safadi said Israel had not been a "partner" to Arab countries. AFP
Jordan's Foreign Minister Ayman Al Safadi said Israel had not been a "partner" to Arab countries. AFP

Failure to reach a deal could see Hamas relocate its leadership-in-exile from Qatar, where the talks are expected to move after two days in Cairo.

Sources told The National that Qatari mediators had made thinly veiled warnings to the Hamas leaders based in Doha that they would be asked to leave if they did not show flexibility during the Gaza truce negotiations.

Musa Abu Marzouk, a member of the Hamas politburo, told Iran's Al Alam TV that the talks about the group being forced to leave Doha are “false”. However, he added that if they had to leave, they would aim to relocate to Jordan.

“If the leadership of Hamas relocates, and this is not a topic now, they will move to Jordan,” he said.

The Hamas official also said that a delegation from the group is heading to China in the coming days for direct discussions with Fatah, which controls the Palestinian National Authority in the occupied West Bank, about the future of the Palestinian cause.

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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.”

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Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

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A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

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Director: Joseph Kosinski

Rating: 4/5

match info

Maratha Arabians 138-2

C Lynn 91*, A Lyth 20, B Laughlin 1-15

Team Abu Dhabi 114-3

L Wright 40*, L Malinga 0-13, M McClenaghan 1-17

Maratha Arabians won by 24 runs

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Updated: April 30, 2024, 7:19 AM