Family members of hostages held in Gaza hold a protest outside Israeli Prime Minister Benjamin Netanyahu's residence in Jerusalem. AP
Family members of hostages held in Gaza hold a protest outside Israeli Prime Minister Benjamin Netanyahu's residence in Jerusalem. AP
Family members of hostages held in Gaza hold a protest outside Israeli Prime Minister Benjamin Netanyahu's residence in Jerusalem. AP
Family members of hostages held in Gaza hold a protest outside Israeli Prime Minister Benjamin Netanyahu's residence in Jerusalem. AP

October 7 memorial events begin in Israel as multi-front war rages


Thomas Helm
  • English
  • Arabic

Live updates: Follow the latest on Israel-Gaza

People across Israel have begun commemorating the attacks on October 7 last year, with sombre events planned throughout the day despite a heightened risk of violence.

Major events have taken place in Jerusalem and southern Israel, where the Hamas-led attacks happened. Many more events have been planned throughout the country, including some to be held in defiance of the government as Israelis grapple with the bitter legacy of the attack that killed about 1,200 people.

The attack led to the Gaza War, which has killed more than 41,800 people in en enclave and injured about 97,200. The Israeli bombardment of the enclave has also created a major humanitarian crisis and destroyed the majority of buildings in Gaza.

In the south of Israel, President Isaac Herzog joined crowds at the Nova music festival site near Kibbutz Re'im, where 300 people were killed and dozens were taken hostage.

He said the events of that day were a "scar on humanity" and that "the world has to realise and understand that in order to change the course of history and bring peace, a better future to the region, it must support Israel in its battle against its enemies".

Mr Herzog made the statement as a forum for the families of those taken hostage announced Idan Shtivi, 28, was killed during the attack on the festival and that his body was being held in Gaza. The Israeli military said at least 33 of the 97 hostages believed to still be in Gaza are dead.

In Jerusalem, family members of hostages gathered outside Prime Minister Benjamin Netanyahu's home. A two-minute siren sounded at 6.29am to mark the moment Hamas began its attacks with a barrage of rockets, followed by a ground attack.

Israel's military is on high alert amid reports that groups, including Palestinian militants, could look to launch attacks as the country marks one year since the start of the war. Israel has already tightened controls on public gatherings, prompting organisers of some events to cancel tickets for tens of thousands of people.

The Gaza war has killed more than 41,800 people in the enclave and caused major damage. Reuters
The Gaza war has killed more than 41,800 people in the enclave and caused major damage. Reuters

The military said it thwarted a large rocket attack from Gaza early on Monday morning, with fighter jets striking rocket launchers across the enclave. Hamas took credit for a relatively small barrage fired early in the morning.

Rockets fired from Lebanon struck Israel too. At least eight people were injured in an earlier Hezbollah attack on Haifa, according to Israeli media reports.

The Israeli military announced a soldier was killed while fighting on the country's border with Lebanon. It also said a third division joined the ground invasion into Lebanon on Sunday night.

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School counsellors on mental well-being

Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.

Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.

Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.

“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.

“Some have got used to being at home don’t want to go back, while others are desperate to get back.

“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.

“It is worrying and has taught us how important it is that we prioritise mental well-being.”

Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.

The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.

At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.

“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.

“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.

"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”

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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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Updated: October 07, 2024, 9:21 AM