Live updates: Follow the latest from Israel-Gaza
In a hot, cramped, plastic tent in central Gaza, Nevin Abu Al Jidyan fans the youngest of her nine children with a piece of cardboard as he lies asleep in a bassinet, unable to move after being infected with polio.
Just 11 months old, Abdul Rahman is too young to be aware that he made history with Gaza’s first case of polio since the disease was declared eradicated in the occupied Palestinian territories 25 years ago.
“He used to move,” his mother said as she showed The National a video of her son crawling.
The poliovirus has re-emerged in Gaza after more than 10 months of an Israeli military assault that has destroyed much of the enclave, including its healthcare and sanitation facilities, and displaced most of the population. Untreated sewage, piles of rubbish and severe overcrowding in the limited areas considered safe, with about 30,000 people per square kilometre, has created conditions for disease to spread rapidly.
Six out of seven samples taken from sewage water in the Gaza Strip’s central and southern areas tested positive for polio, according to Khalil Al Daqran, spokesman for Al Aqsa Martyrs Hospital in the central city of Deir Al Balah.
The fear now is that more children will become infected.
“Two months ago, Abdul Rahman got a fever and began vomiting and stopped moving,” his mother said.
The family took him to Al Aqsa Martyrs Hospital, where tests were done and samples taken and sent to Jordan for analysis.
“Two weeks later, I got a call saying my son had polio,” she said
“It was a shock. I had many questions. How, from who, where did it come from?”
Being as old as Israel's war in Gaza which has killed more than 40,400 people and wounded 93,647 others, Abdul Rahman has not had access to proper medical care since birth.
“They told me the main reason for his illness is because he didn’t receive his vaccines,” his mother said. “Our constant displacement has made that impossible.”
The UN said nine out of 10 Gazans have been displaced by the war, with many living in Israeli-designated “humanitarian zones” that are shrinking as the military issue new eviction orders, like the one in Al Mawasi.
The UN said it and other aid agencies are incapable of carrying out their duties because some of the facilities containing proper water and assistance are now in areas that Israel has deemed “combat zones”.
Ms Abu Jidyan says there was only so much she can do to make sure her temporary home and the area around it are clean.
“How can you clean sand? Or the sewage that’s outside? The mosquitoes bite the boy all day long. The food is unhealthy, the water unhealthy.”
A polio vaccination campaign that is scheduled to begin on August 31 is intended to inoculate 640,000 children but this may be a tall order in Gaza, where several humanitarian groups have described the situation as “unprecedented”.
Abdul Rahman’s mother is not hopeful that her son will get the treatment he needs.
“He needs physiotherapy for his legs, he needs medicine and special care. We don’t have that here. He needs to travel abroad.”
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.”
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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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
