Hezbollah-Israel exchanges continue despite cooling of tension



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Israel launched attacks on at least five locations in south Lebanon overnight on Thursday, as its conflict with Hezbollah continues even after tension seemingly cooled.

Israel's military pounded areas near and within the villages of Tayr Hafa, Yaroun, Naqoura, Yarine and Majdal Zoun, while Hezbollah also struck parts of northern Israel late at night.

The attacks came after Hezbollah finally launched, last Sunday, its retaliation for an attack on Beirut last month that killed Fouad Shukr, a top commander in the group.

It launched more than 300 missiles at least 11 Israeli military sites, Hezbollah's largest assault yet since October. Israel for its part claimed it had launched pre-emptive strikes on Hezbollah sites.

The region had been on tenterhooks awaiting Hezbollah's retaliation for the killing of Mr Shukr – alongside several civilians – and Israel's response.

While it may have been Hezbollah's largest attack yet, the relatively restrained response – at least compared with what was potentially predicted – and Israel's ability to claim it had launched pre-emptive strikes have actually served to cool tension for the moment.

Hezbollah leader Hassan Nasrallah said Lebanon could “breathe and relax,” while the country's flight schedule returned to normal.

The fighting, which broke out on October 8, in parallel to Israel's war on Gaza, has seemingly returned to its retaliatory cross-border exchanges.

Israel attacked a lorry north of the city of Baalbek this week in the Bekka Valley, far away from the border area. The lorry was reportedly carrying Hezbollah weapons, although the driver was not killed.

It also assassinated three members of the Palestinian Islamic Jihad group alongside a Hezbollah member while they were travelling in Syria, near the Lebanese border, along a motorway that links Beirut and Damascus.

The cross-border violence since October has killed about 605 people in Lebanon, mostly Hezbollah fighters but including at least 131 civilians, according to an AFP tally.

On the Israeli side, including in the annexed Golan Heights, authorities announced the deaths of at least 24 soldiers and 26 civilians.

More than 100,000 people have been displaced from south Lebanon while tens of thousands have left northern Israel.

The attacks come as ceasefire negotiations between Hamas and Israel in Gaza continue to stutter.

Israel's Defence Minister said ensuring “the safe return of northern communities to their homes” was crucial.

Hezbollah said it would not end its attacks on Israel until the latter halted its brutal bombardment of the Gaza Strip, where more than 40,500 Palestinians have been killed.

The killing of Mr Shukr came only hours before Hamas leader Ismail Haniyeh was killed in Tehran, in an attack widely blamed on Israel. Iran has yet to respond to the killing but has threatened to do so.

Retired Israeli Brig Gen Amir Avivi claimed Iran had held back in its response because they “really want to see a ceasefire and Israel withdrawing” from Gaza and “that they understand that maybe there is one last chance to save Hamas”.

“And then they have to take in account that there is a whole coalition ready to deal with the shooting, and there is a big chance that the shooting will be ineffective – following that, this time, Israel is not going just to shoot one missile on a radar. Israel is going to retaliate and hit Iran very hard, possibly oil production, possibly their nuclear plants,” he said.

But the retired general cautioned that, overall, Iran was not very deterred. “I think they feel strong, and they feel that the US is not fully backing Israel. So, this emboldens them.”

An Iraqi diplomatic source said “the Israeli recklessness led by Prime Minister [Benjamin Netanyahu] and the insistence on the continuation of the war and the cruel military machine against the Palestinians in Gaza, and the lack of hearing of international advice will make the pro-Iranian factions in both Syria, Lebanon and Iraq also insist on responding, and the result is negative for everyone.”

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Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
UAE currency: the story behind the money in your pockets

The Case For Trump

By Victor Davis Hanson
 

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

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THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder 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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Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
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Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

Updated: August 30, 2024, 10:18 AM