Families whose children were killed at a football pitch by a rocket launched across Lebanon's border with Israel react before the funeral in Majdal Shams. Reuters
Families whose children were killed at a football pitch by a rocket launched across Lebanon's border with Israel react before the funeral in Majdal Shams. Reuters
Families whose children were killed at a football pitch by a rocket launched across Lebanon's border with Israel react before the funeral in Majdal Shams. Reuters
Families whose children were killed at a football pitch by a rocket launched across Lebanon's border with Israel react before the funeral in Majdal Shams. Reuters

Israeli army 'increasing readiness' for wider war with Hezbollah after Golan attack


Holly Johnston
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The Israeli army on Sunday said it is preparing to step up fighting on its northern border, threatening deeper attacks and all-out war with Lebanon after a strike on the Israeli-occupied Golan Heights killed 12 children on Saturday.

The attack, which struck a football field in the Druze town of Majdal Shams, is the deadliest to hit Israel since the Hamas attack on October 7.

“We are greatly increasing our readiness for the next stage of fighting in the north. We know how to attack even very far from the State of Israel … there will be more challenges,” army chief Herzi Halevi said in a video statement from the scene of the attack.

Syria said the Israeli army was responsible for the incident.

Israel committed a “heinous crime … with the intention of escalating the situation in the region,” the Syrian Foreign Ministry said through the Sana state news agency, adding that Israel blamed Hezbollah as a pretext to expand its attacks on Lebanon.

Damascus “condemns the continued perpetration of massacres by the Israeli occupation entity, one after the other, and denounces its blatant attempts to fabricate pretexts to expand the scope of its aggression,” the ministry said.

“Our people in the occupied Syrian Golan, who have refused for decades of Israeli occupation to give up their Syrian Arab identity, will not be fooled by the occupation’s lies and false accusations that the Lebanese national resistance bombed Majdal Shams.”

The town, seized by Israel in 1967, is internationally recognised as part of the Syrian Golan Heights.

The army accused Hezbollah of firing an Iranian-made Falaq rocket at the town. The militant group has denied any involvement in the attack.

Tensions were already high on the northern border, where Israel and Hezbollah have exchanged daily cross-border fire since October 8, with Israel repeatedly alluding to full-scale war with Lebanon in the coming months.

Israeli Prime Minister Benjamin Netanyahu will convene a meeting of the war cabinet on Sunday afternoon, returning early from a trip to the US.

“Israel cannot let this pass in silence. We will not overlook this,” he said in a statement before his return to Israel.

Residents rush to help injured children moments after a rocket attack hit a soccer field in the Druze town of Majdal Shams in the Israeli-controlled Golan Heights. AP
Residents rush to help injured children moments after a rocket attack hit a soccer field in the Druze town of Majdal Shams in the Israeli-controlled Golan Heights. AP

Defence Minister Yoav Gallant also visited the site of the attack on Sunday, saying Hezbollah will “pay the price” for what he described as an awful tragedy.

Israeli Finance Minister Bezalel Smotrich said Hezbollah leader Hassan Nasrallah should “pay with his head” and that “Lebanon as a whole has to pay the price”.

His comments were echoed by Israeli Foreign Minister Israel Katz, who said Hezbollah has crossed “all red lines” and faces “all-out war.”

Ministry spokesman Oren Marmorstein said Hezbollah was “unequivocally responsible” for the attack.

“The only way that the world can prevent a full-scale war which would be devastating also to Lebanon is by forcing Hezbollah to implement Security Council Resolution 1701. Now is the very last minute to do so diplomatically,” he wrote on X.

Eleven of the 12 people killed have been named by Israeli media.

All were aged 16 or under, and several were relatives of the Abu Saleh family.

At least 40 people were injured and are receiving medical treatment at hospitals in Safed and the city of Haifa.

Several children are in serious condition and suffered “multi-system injuries from shrapnel,” Salman Zarka, director of Safed's Ziv Medical Centre told Israel's Channel 12.

Iran's foreign ministry has said any Israeli attack on Lebanon will be met with a “decisive response across the entire axis of resistance.”

“I repeat, a firm and united response, make no mistake,” spokesman Nasser Kanaani said in a Sunday statement.

Located at the foot of Mount Hermon, Majdal Shams lies right on the border with Syria.

Most residents are Druze and choose not to hold Israeli citizenship.

Druze who do hold Israeli citizenship serve in the Israeli army, and several have been killed in fighting in Gaza.

UN call for restraint

The UN's mission in Lebanon and the UN peacekeeping force along the border, Unifil, made a joint statement on Saturday evening, saying they deplored “the death of civilians – young children and teenagers – in Majdal Shams. Civilians must be protected at all times.

“We urge the parties to exercise maximum restraint and to put a stop to the ongoing intensified exchanges of fire. It could ignite a wider conflagration that would engulf the entire region in a catastrophe beyond belief,” they said.

Tor Wennesland, the UN's Special Coordinator for the Middle East Peace Process, issued a separate comment on the escalation.

“The Middle East is on the brink; the world and the region cannot afford another open conflict,” he wrote on X.

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Volunteers offer workers a lifeline

Community volunteers have swung into action delivering food packages and toiletries to the men.

When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.

Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.

Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.

“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.

Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.

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Profile of Hala Insurance

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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.

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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.

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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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Updated: July 28, 2024, 12:58 PM