Live updates: Follow the latest on Israel-Gaza
Mahmoud Abbas met Turkish President Recep Tayyip Erdogan on Wednesday evening, as the Palestinian leader looks to shore up regional support amid widespread fallout from the war in Gaza.
In the meeting, Mr Erdogan criticised some western nations for supporting Israel – part of a wider political stance in which he has distanced Turkey from European nations and the US over the Gaza war.
"President Erdogan said that Israel continues to massacre civilians, including babies, displace innocent Palestinians, strike schools, hospitals and civilian refuges, and condemn people to hunger and thirst, and that it is unacceptable for some western countries to remain silent about all this and continue to help Israel," a statement released after their meeting said.
"President Erdogan stated that all countries, especially the Islamic world, should increase their efforts to ensure an immediate ceasefire in Gaza and to ensure uninterrupted delivery of humanitarian aid to Palestinians."
Mr Abbas used the meeting to again call for an immediate ceasefire, full Israeli withdrawal from the Gaza Strip, and an end to all Israeli attacks in the West Bank and Jerusalem, and encroachments on holy sites in the city, the Palestinian news agency Wafa reported.
Accompanying Mr Abbas in Turkey are senior officials from the Palestine Liberation Organisation, the Palestinian Authority's head of intelligence Majed Faraj, and presidential advisers, Wafa reported.
On Thursday, Mr Abbas will tell Turkish politicians about Israel's attacks on Palestinian territories, particularly in Gaza, Turkish state media reported.
Turkey’s parliament is on summer break but will hold an extraordinary session to host the Palestinian leader, the Turkish government said.
Mr Abbas’s address will be translated into English, Turkish and French, and will be attended by Mr Erdogan.
Some social media users in Turkey criticised the country's leadership for hosting Mr Abbas, accusing him of complicity in Israeli violence.
The hashtag, "We do not want the traitor Abbas" trended on X in Turkey and there were calls for protests against his address to the parliament, although it was not clear if any demonstrations were planned.
The users expressed solidarity with Hamas, with whom Mr Abbas's Fatah movement is a rival.
Mr Abbas’s visit to Turkey follows a meeting with Vladimir Putin in Russia on Tuesday, in which the Russian President said he was watching violence in the Palestinian territories unfold “with great pain”.
Turkey has thrown its weight behind Palestinians since the October 7 attacks, while officially supporting a two-state solution to end the Israeli-Palestinian conflict and maintaining diplomatic relations with Israel.
While Ankara has been overshadowed by the US, Egypt and Qatar in mediation attempts, it has banned trade with Israel and officials have grown increasingly critical of Prime Minister Benjamin Netanyahu’s government.
Mr Erdogan has praised Hamas militants as “freedom fighters” and Ankara has distanced itself from western governments’ positions on the Gaza war.
Instagram was temporarily banned in Turkey this month over some officials’ frustration at the social media platform for blocking posts commemorating the assassinated political leader of Hamas, Ismail Haniyeh.
He had close ties with Turkey, especially Mr Erdogan, who leads the AKP party.
But there was no love lost between Mr Haniyeh and Mr Abbas. Hamas is a rival of Fatah, the Palestinian political faction chaired by the Palestinian President.
Mr Abbas has also visited Turkey often, most recently in March this year. Ankara had tried to mediate between the rival Palestinian factions although the groups eventually signed a declaration in China to form a future government together.
Yunus Emre, a Turkish MP for the main opposition party who will attend Mr Abbas’s address on Thursday, said it will be an important act of solidarity with Palestinians but probably will not lead to any major developments on ending the continuing conflict.
“This address will be very important, but from my perspective it will not give important results,” Mr Emre, a member of the Turkish parliament’s foreign relations committee, told The National.
“It is symbolic, and shows solidarity of Turkey with the Palestinian people in these very hard circumstances.”
Turkey’s opposition has criticised the close ties between Hamas and Mr Erdogan’s Justice and Development Party, and Mr Emre said Mr Abbas's address would demonstrate the diversity of views among Palestinian representatives.
“[The AKP’s] solidarity with Hamas is a political issue – our perceptive is different,” Mr Emre said.
“From our point of view, the Palestinian question had a number of humanitarian questions. So many innocent people have been killed by Israeli attacks – this is a significant issue for our party, and our voters.”
MPs from the AKP did not respond to requests for comment.
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
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Bharat
Director: Ali Abbas Zafar
Starring: Salman Khan, Katrina Kaif, Sunil Grover
Rating: 2.5 out of 5 stars
MATCH INFO
Norwich City 1 (Cantwell 75') Manchester United 2 (Aghalo 51' 118') After extra time.
Man of the match Harry Maguire (Manchester United)
RESULTS
Dubai Kahayla Classic – Group 1 (PA) $750,000 (Dirt) 2,000m
Winner: Deryan, Ioritz Mendizabal (jockey), Didier Guillemin (trainer).
Godolphin Mile – Group 2 (TB) $750,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar
Dubai Gold Cup – Group 2 (TB) $750,000 (Turf) 3,200m
Winner: Subjectivist, Joe Fanning, Mark Johnston
Al Quoz Sprint – Group 1 (TB) $1million (T) 1,200m
Winner: Extravagant Kid, Ryan Moore, Brendan Walsh
UAE Derby – Group 2 (TB) $750,000 (D) 1,900m
Winner: Rebel’s Romance, William Buick, Charlie Appleby
Dubai Golden Shaheen – Group 1 (TB) $1.5million (D) 1,200m
Winner: Zenden, Antonio Fresu, Carlos David
Dubai Turf – Group 1 (TB) $4million (T) 1,800m
Winner: Lord North, Frankie Dettori, John Gosden
Dubai Sheema Classic – Group 1 (TB) $5million (T) 2,410m
Winner: Mishriff, John Egan, John Gosden
Specs
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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
Asia Cup Qualifier
Venue: Kuala Lumpur
Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September
Fixtures:
Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6: Final
Asia Cup
Venue: Dubai and Abu Dhabi
Schedule: Sep 15-28
Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier
Dunki
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
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21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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UAE currency: the story behind the money in your pockets
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
More on animal trafficking
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 SPECS
2020 Toyota Corolla Hybrid LE
Engine: 1.8 litre combined with 16-volt electric motors
Transmission: Automatic with manual shifting mode
Power: 121hp
Torque: 142Nm
Price: Dh95,900