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Egypt’s government has given a panel of international law experts the job of identifying and assessing the ramifications of further punitive action against Israel in response to military operations in Rafah, sources told The National.
They said the panel also included top constitutional experts, as well as senior members of the nation’s intelligence services.
There has been no official announcement on the panel’s creation.
The sources, who spoke to The National on condition of anonymity, would not say who is sitting on the panel, where it is holding its meetings or divulge details of its mandate.
However, its creation reflects the depth of anger Cairo feels over the seizure by Israel on May 7 of the Palestinian side of the Rafah border crossing between Egypt and Gaza, as well as its rapidly expanding ground operation in the border city.
Egypt had long warned Israel against launching a ground offensive in Rafah, where some 1.5 million Palestinians had taken refuge from fighting elsewhere in Gaza. It has said the capture of the Gaza side of the Rafah crossing posed a threat to its national security.
The latest Egyptian move also speaks to Egypt’s concern to stay within the boundaries of international law, avoid punitive actions by the US – its strongest western backer and sponsor of its 1979 peace treaty with Israel – and not to further destabilise a Middle East already torn by a seemingly unprecedented and simultaneous host of conflicts.
Egypt, the most populous Arab nation with 106 million people, already has had much to deal with beside the Hamas-Israel war across its eastern border.
Sudan to the south, which has long been viewed a sphere of Egyptian influence, has been ravaged by a 13-month civil war that has sent nearly 500,000 refugees into Egypt. Libya to the West, another extension of Egyptian national security, has been beset by war and divisions since an uprising 13 years ago.
Egypt and Israel are bound by their milestone 1979 peace treaty that ended decades of hostilities between the two Middle East neighbours, including four wars between 1948 and 1973. Of late, the two have established close economic links, especially in the field of energy, and have been co-operating to combat human and drug trafficking, as well as on counterterrorism.
The treaty has dramatically altered a regional political landscape defined in large part by nearly a century of conflict between the Arabs and Israel, and may have in many ways paved the way for Jordan to follow suit in 1994 and more recently four other Arab nations establishing diplomatic relations with Israel.
For Egypt, making peace with Israel has meant billions of dollars in US military and economic aid over the years. However, the treaty has failed to live up to expectations it would be a prelude to resolving the decades-old Palestinian-Israeli conflict.
The sources said that while Egypt planned further punitive measures against Israel, like downgrading its diplomatic representation or withdrawing its ambassador, they would not include the suspension of the peace treaty.
“The Hamas-Israel war has put Egypt in a very awkward position and caused it a series of serious disappointments," said Mohammed Anis Salem, a retired Egyptian diplomat who now sits on the Egyptian Council for Foreign Affairs, a think tank.
“But calls for the suspension of the peace treaty on social media or in talk shows are essentially a reflection of popular anger and anxiety.
“Rather than talking about rupturing a treaty so important it has restructured the entire region, we need to talk about how to de-escalate and pull back from the brink.”
Egypt has been scathingly critical of Israel since the Gaza war began seven months ago following Hamas’s attack on southern Israel in October, in which about 1,200 people were killed and another 250 taken hostage, according to Israeli tallies.
The attack drew a devastating response from Israel, whose bombardment and invasion of Gaza has killed more than 35,000 Palestinians, wounded twice that number and displaced the vast majority of the enclave’s 2.3 million residents.
Egypt has already shown its anger over Israel's capture of the Gaza side of the Rafah border crossing and the displacement of hundreds of thousands of Palestinians who had found shelter there.
On Sunday, Egypt said it was intervening in support of South Africa’s case in the International Court of Justice accusing Israel of genocide, its strongest public rebuke to Israel since the Gaza war broke out.
The Foreign Ministry, which made the announcement, has yet to give details of the steps Cairo planned to take to implement its decision.
Egypt has also refused to co-operate with Israel on sending humanitarian aid to Gaza through the Rafah crossing after the latter’s seizure of the facility. Its forces close to the borders with Israel and Gaza in the Sinai Peninsula have been placed on high alert but instructed to show extreme restraint if provoked or in dealing with incidents such as stray artillery shells or misguided air strikes.
On Tuesday, Egyptian Foreign Minister Sameh Shoukry accused Israel of seeking to dodge its responsibility for the humanitarian crisis in Gaza after his Israeli counterpart said Egypt was not allowing aid into the coastal territory.
“Egypt affirms its categorical rejection of the policy of distorting the facts and disavowing responsibility followed by the Israeli side,” Mr Shoukry said.
He was responding to a tweet on X by Israeli Foreign Minister Israel Katz in which he wrote: “Yesterday, I spoke with UK Foreign Secretary David Cameron and German Foreign Minister Annalena Baerbock about the need to persuade Egypt to reopen the Rafah crossing to allow the continued delivery of international humanitarian aid to Gaza.”
He added: “The key to preventing a humanitarian crisis in Gaza is now in the hands of our Egyptian friends.”
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
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 BIO
Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.
Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.
Personal motto: If something’s meant for you it won’t pass you by.
Last-16 Europa League fixtures
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
OPENING FIXTURES
Saturday September 12
Crystal Palace v Southampton
Fulham v Arsenal
Liverpool v Leeds United
Tottenham v Everton
West Brom v Leicester
West Ham v Newcastle
Monday September 14
Brighton v Chelsea
Sheffield United v Wolves
To be rescheduled
Burnley v Manchester United
Manchester City v Aston Villa