Israelis wave flags near the Damascus gate of Jerusalem's Old City, during the disputed Flag March in 2022. EPA
Israelis wave flags near the Damascus gate of Jerusalem's Old City, during the disputed Flag March in 2022. EPA
Israelis wave flags near the Damascus gate of Jerusalem's Old City, during the disputed Flag March in 2022. EPA
Israelis wave flags near the Damascus gate of Jerusalem's Old City, during the disputed Flag March in 2022. EPA

‘If this explodes, it’s regional war’: Far-right Flag March puts Jerusalem on edge


Thomas Helm
  • English
  • Arabic

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“Flag March is an abomination,” says Daniel Seidemann, a lawyer who has spent his life studying Jerusalem and its role at the heart of the conflict between Israelis and Palestinians.

He is deeply worried about Wednesday, when tens of thousands of Israelis will join the ultranationalist march through the most sensitive district of the city as part of events for Jerusalem Day, which commemorates Israel's full capture of the city in 1967.

“Every year it’s an abomination: the shouts of abuse, the raging through Al Wad Street, far-right Israelis pounding on doors behind which Palestinians are cowering,” Mr Seidemann adds.

“The police announcing they won’t do anything in response to chants, which include ‘death to Arabs’ and ‘may your villages burn’ and not one public figure in Israel condemning them.”

Mr Seidemann is speaking to The National the day before this year’s Flag March, which traditionally goes through the Muslim Quarter of Jerusalem’s Old City.

The route passes Al Aqsa Mosque – the third holiest site in Islam that many of the marchers want to replace with a third Jewish temple.

The event always causes extreme tension, not only for Palestinians but for people across the Middle East.

The Al Aqsa Mosque is one of the most emotive symbols in the conflict between Palestinians and Israelis. EPA
The Al Aqsa Mosque is one of the most emotive symbols in the conflict between Palestinians and Israelis. EPA

In 2021, tensions over the Flag March helped spark 11 days of fighting between Israel and Hamas.

This year it comes after nearly eight months of a far worse conflict in Gaza which has also dragged the occupied West Bank to the brink of explosion and pushed Israel and Hezbollah to the verge of war.

Jerusalem has stayed relatively calm, at least in comparison with the violence of these other arenas.

But there is a chance tomorrow's march might change that. If it does, the ramifications would be huge, Mr Seidemann says.

“This year is special circumstances. If I was asked to evaluate what the odds are of violence in Jerusalem, I would say it’s gone from 4 per cent to 8 per cent, so it likely won’t explode, but it’s far from impossible,” he says.

“If it does explode, that’s a regional war.”

Sami Abu Shehadeh, a Palestinian citizen of Israel and chairman of the opposition party Balad, says Jerusalem Day is “the most racist day on the Israeli calendar, because it touches the most sacred and sensitive issue for Palestinians: Al Aqsa Mosque”.

He believes far-right politicians in the current government, particularly National Security Minister Itamar Ben Gvir, want the day to spark a regional war.

“Ben Gvir is a pyromaniac and a very dangerous man for Israelis, Palestinians and the Middle East,” Mr Abu Shehadeh says.

Mr Ben Gvir vowed in an interview on Tuesday morning to go to the Al Aqsa compound on Jerusalem Day.

“I wish Itamar Ben Gvir was the only issue: a racist, crazy, pyromaniac. The problem is he’s a minister in the Israeli government, within which you don’t find anyone attacking his dangerous, racist behaviour,” Mr Abu Shehadeh says.

“It gives you a feeling that there is a consensus on racism and provocation.”

Mr Ben Gvir might be the politician most closely associated with the Flag March, but both Mr Seidemann and Mr Abu Shehadeh lay blame for the risk it poses at the feet of Prime Minister Benjamin Netanyahu.

“The decision of whether Ben Gvir is to go to Al Aqsa tomorrow is not his, it’s Netanyahu’s,” Mr Seidemann says.

Israeli National Security Minister Itamar Ben Gvir has vowed to go to the disputed Al Aqsa compound as part of Flag March. Reuters
Israeli National Security Minister Itamar Ben Gvir has vowed to go to the disputed Al Aqsa compound as part of Flag March. Reuters

“This is not something that any responsible government would allow to happen under these circumstances.”

Mr Seidemann stresses that Jerusalem has weathered other tense moments since the latest Gaza war began on October 7.

“There was another far-right march that was supposed to take place in December, but under high-level international pressure was cancelled. There was Ramadan, but that was kept calm. There are any number of dangerous episodes that have taken place. This is one of the more serious ones.”

Mr Abu Shehadeh feels that events have reached a point where the Flag March is unlikely to make things worse.

“There is nothing uniquely worse about Flag March. Terrible things have been happening every day since October 7. Not just in terms of war crimes in Gaza but all over the West Bank and Jerusalem. Palestinians are being killed daily. So I don’t expect tomorrow to be worse – the situation is already bad enough.”

Israel's police said they would deploy more than 3,000 officers for the march and that they “will act decisively against any attempt to disrupt order and law”.

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Name: Kumulus Water
 
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Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

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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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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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Updated: June 05, 2024, 3:58 AM