A Palestinian youth carries a flag of the Popular Front for the Liberation of Palestine (PLFP) in Ramallah, in the occupied West Bank. AFP
A Palestinian youth carries a flag of the Popular Front for the Liberation of Palestine (PLFP) in Ramallah, in the occupied West Bank. AFP
A Palestinian youth carries a flag of the Popular Front for the Liberation of Palestine (PLFP) in Ramallah, in the occupied West Bank. AFP
A Palestinian youth carries a flag of the Popular Front for the Liberation of Palestine (PLFP) in Ramallah, in the occupied West Bank. AFP

What is the PFLP, whose fighters were killed in Israel's Beirut strike?


Nada AlTaher
  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

The Popular Front for the Liberation of Palestine (PFLP) has said three of its fighters were killed in Israeli strikes on Beirut on Monday morning.

Established in 1967, the armed group is part of the Palestinian Liberation Organisation (PLO), a rival to the ruling Fatah party in Gaza and an opposer to the two-state solution.

History

An offshoot of the Arab Nationalist Movement, the PFLP was founded after the 1967 war by Palestinian Greek-Orthodox Christian George Habash.

After graduating from the school of medicine at the American University of Beirut, Dr Habash returned to his home in the occupied city of Lod, also known as Lydda, in the 1967 war, which was raided by Israeli forces, causing large civilian displacement, seeking food, water and shelter in what became to be known as the "Lydda death march".

A year later, he left for Amman, setting up a free clinic for refugees, but was also heavily involved in organising political movements against the West and Arab states.

He stepped down from his position at the PLFP in 2000 and died eight years later of a heart attack at the age of 81 in Jordan. Palestinian President Mahmoud Abbas declared three days of mourning and Hamas extended its condolences.

Vision and attacks

The PFLP believes Israel should not exist and advocates a single democratic and secular state of Palestine.

A year after its founding, the PFLP splintered, with the PLFP-General Command forming in opposition to the Marxist origins of the group and being designated a terrorist organisation by the US, UK and Israel.

In Jordan, Dr Habash was convicted of being involved in a coup and was sentenced in absentia to 33 years.

In 1970, the PFLP hijacked four passenger planes headed to New York City and London, three of which were forced to land at Dawson's Field in Jordan.

PFLP fighters took passengers hostage and blew the planes up on the tarmac. Dr Habash is accused of masterminding these attacks, which preceded the 'Black September' crackdown by Jordan's King Hussein on the PLO.

In 1972, Dr Habash said the group would stop hijacking planes as such acts were at odds with its "Arab and international alliances". In the same year, the PLFP killed 27 people at an airport in Lod.

Dr Habash remained opposed a two-state solution to the Israel-Palestine conflict, even after the Oslo Accords were signed in 1993.

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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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