Live updates: Follow the latest news on Israel-Gaza
The Israeli army has continued ground operations and raids on the Shujayea neighbourhood east of Gaza city in the northern Gaza Strip, while its warplanes attacked Tal Al Sultan, west of the southern city of Rafah.
Shells fell on Shujayea and around Barcelona Park in Tel Al Hawa, south-west of Gaza city.
The neighbourhood became infamous to Israeli forces during fierce fighting there in the 2014 Gaza war, and has been the scene of a bloody, four-day operation.
As with fighting in Rafah, where Israeli forces have battled since early May, the ongoing intensity of violence has raised questions over whether Israel has a post-war plan for the enclave, which is now almost totally destroyed.
Israeli Prime Minister Benjamin Netanyahu on Sunday hinted there was little plan for post-war governance in the strip in a cabinet meeting on Sunday.
He said his government was "committed to fighting until we achieve all of our objectives: Eliminating Hamas, returning all of our hostages, ensuring that Gaza never again constitutes a threat to Israel and returning our residents securely to their homes in the south and the north," he added.
The commitment to "eliminate Hamas," is an implicit rejection of truce talks, mediated by the US, Egypt and Qatar, because the group has insisted on maintaining a central role in Gaza in the event of a lasting ceasefire.
In Rafah, heavy artillery shelling and gunfire was reported in the Al Mawasi area, west of the city, which the Israeli army had described as a safe zone.
According to medical sources, six Palestinians were killed in the shelling of the Israeli warplanes at the home of the Zaarab family, west of Rafah.
Attacks on Shujayea began on Thursday, with orders to Palestinians to evacuate the area and head to a designated “humanitarian zone” in the south.
Avichay Adraee, the Israeli army's Arabic-language spokesman, posted a list of the zones that were to be evacuated on X.
Ramy Abdu, director of the Euro-Med Human Rights Monitor, said that the group’s field team confirmed dozens of deaths in the raids.
“Israel is committing widespread massacres in the northern part of the [Shujayea] neighbourhood and the Jdaida area. Our field team is receiving reports of dozens, possibly hundreds, of victims being executed on the spot or having their shelters bombed,” he wrote on X.
The Israeli military on Saturday announced the death of two soldiers in combat in northern Gaza, as their forces pressed on with their offensive in Shujayea.
Residents said tanks advanced into several districts, including the area around the local market and there was heavy fire from the air and the ground.
Meanwhile, the Israeli military said it plans on remaining in Gaza “as long as no other international entity is found” and that the war could last many more months, an Israeli security source told Israel's Kan public broadcaster.
According to the source, the chance of reaching an agreement with Hamas without ending the war is “very low”.
A senior official of Hamas, Osama Hamdan, on Saturday said there has been no progress in ceasefire talks with Israel over the Gaza war.
The Palestinian group is still ready to “deal positively” with any ceasefire proposal that ends the war, Mr Hamdan told a news conference in Beirut.
Arab mediators' efforts, backed by the US, have so far failed to conclude a ceasefire, with each side blaming the other for the impasse. Hamas said any deal must end the war and bring full Israeli withdrawal from Gaza, while Israel said it will accept only temporary pauses in fighting until Hamas, which has ruled Gaza since 2007, is eradicated.
Mr Hamdan also blamed the US for applying pressure on Hamas to accept Israel's conditions.
“Once again, Hamas is ready to deal positively with any proposal that secures a permanent ceasefire, a comprehensive withdrawal from Gaza Strip and a serious swap deal,” said Mr Hamdan, referring to a possible swap of hostages held in Gaza for Palestinians in Israeli prisons.
The war started with Hamas's October 7 attack on southern Israel which resulted in the deaths of 1,200 people, mostly civilians, according to an AFP tally based on Israeli figures.
The militants also seized hostages, 116 of whom remain in Gaza although the army said 42 are dead.
Israel's retaliatory offensive has killed at least 37,834 people, also mostly civilians, according to data from the Gaza Health Ministry.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
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If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
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Price: expected to start at Dh1,432,000
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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.”