Live updates: Follow the latest news on Israel-Gaza
The US denied on Sunday that a pier in the Mediterranean Sea set up by its military for aid deliveries was used in the evacuation of four Israeli hostages rescued from Gaza on Saturday.
Gaza health authorities said 274 people, mostly civilians, were killed during the hostage rescue operation under the cover of Israeli air attacks on the Nuseirat refugee camp, where the hostages were located. About 700 others were injured.
Israeli media said counterterrorism forces came under heavy fire after the rescue attempt, which led to the death of the Israeli commanding officer, and relied on air support as they fought their way to a helicopter landing zone.
The US statement comes after a video emerged on X, showing an Israeli Black Hawk helicopter close to the pier, picking up hostages and security forces before departing. The pier can be seen, along with an aid vehicle and military equipment, including a US counter-drone system.
“The humanitarian pier facility, including its equipment, personnel, and assets were not used in the operation to rescue hostages today in Gaza. An area south of the facility was used by the Israelis to safely return the hostages to Israel. Any such claim to the contrary is false,” said US Central Command, the US military headquarters in the Middle East.
“The temporary pier on the coast of Gaza was put in place for one purpose only, to help move additional, urgently needed life-saving assistance into Gaza.”
The attack on the Nuseirat camp has drawn international condemnation.
The United Arab Emirates denounced the "ongoing Israeli violations which has resulted in hundreds of deaths and injuries of innocent civilians".
The Ministry of Foreign Affairs (MoFA) reaffirmed the need for "an immediate ceasefire to prevent further loss of life," it said.
"The immediate priority is to preserve the lives of civilians, and ensure the immediate, safe, sustainable, and unhindered delivery of humanitarian, and relief aid to the Palestinians in the Gaza Strip," it added.
Turkey’s foreign ministry called the raid “a barbaric attack”.
“Israel has added a new one to the list of war crimes it has committed in Gaza,” it said.
Vice President of the EU comission Josep Borrell said: “Reports from Gaza of another massacre of civilians are appalling. We condemn this in the strongest terms. The bloodbath must end immediately."
More civilians were killed on Sunday morning during Israeli strikes on Al Bureij refugee camp and Rafah, the official Palestinian news agency Wafa reported, adding that Israel has intensified its attacks since Saturday's strikes.
Three people were killed in an attack on a home in Al Bureij, Wafa said, with two others killed in Rafah's Tal Al Sultan neighbourhood.
In northern Gaza, 50 malnourished children were admitted to a hospital in the space of a week, medical sources told Wafa.
As a result of fuel shortages, minimum medical services are being provided at Kamal Adwan Hospital in Jabilia refugee camp, where the children were admitted, Wafa reported, describing the situation in Gaza as “catastrophic”.
More than 37 children have starved to death in Gaza, 30 of whom received medical treated at Kamal Adwan.
On Saturday, US National Security Adviser Jake Sullivan said the US supported the release of all remaining Israeli hostages in Gaza – thought to be about 130, through “continuing negotiations or other means”.
Officials told CBS News on Saturday that the US had provided intelligence support for the hostage rescue.
On Sunday, the White House said it would continue to back talks to free the hostages, in exchange for a “ceasefire deal that is now on the table.” Such a deal would come with “security assurances for Israel and relief for the innocent civilians in Gaza”, and had wide international backing from the G7 and regional countries.
Mr Sullivan's statement a day after the US resumed aid deliveries from its temporary pier, the country's military said after the structure suffered storm damage and underwent repairs in a nearby port.
“Today at approximately 10.30am (Gaza time) US Central Command began delivery of humanitarian assistance ashore in Gaza. Today, a total of approximately 492 tonnes of much-needed humanitarian assistance was delivered to the people of Gaza,” Centcom said on X.
“No US military personnel went ashore in Gaza,” it added.
More than two million pounds of humanitarian aid were delivered on the pier last month, but it was damaged by high seas around a week after deliveries began.
The pier was repaired in the Israeli port of Ashdod before being brought back to the Gaza coast and re-established on Friday.
Israel has been accused of delaying the entry of aid into Gaza, depriving the territory's 2.4 million people of clean water, food, medicines and fuel.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
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Hachette Books
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UAE currency: the story behind the money in your pockets
Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
The years Ramadan fell in May
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
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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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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
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- Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
- Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
- People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
- Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
The specs
Engine: 6.2-litre V8
Transmission: seven-speed auto
Power: 420 bhp
Torque: 624Nm
Price: from Dh293,200
On sale: now
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