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Israel's desire to end the war in Gaza has been questioned after no approach to the Palestinian Authority as a “peace partner” was made, the government's Minister of State for Foreign Affairs has told The National.
In her first interview with an international newspaper, Dr Varsen Aghabekian said that without hope of a deal, the region was “doomed” and the risk of extremism among Palestinians would increase.
She also said that if Israel did not consider a two-state solution, it risked becoming a “one-state” where Jews would be outnumbered by people of other faiths.
No willingness for peace
Ms Aghabekian, who has held the position of Minister of State for Foreign Affairs for six months, said there has been no approach from the Israeli government to enter talks with Palestinians.
“There's no peace partner on the Israeli side,” she told The National. “And there's absolutely no willingness for peace, not from the right, not from the middle, not from the left.”
She accused Israeli Prime Minister Benjamin Netanyahu’s right-wing government of promising “nothing but pessimism and chaos”.
“We haven't seen anything on the ground that gives us a glimpse of hope,” Dr Aghabekian added.
The only moment when the war will be resolved will come after the international community says enough is enough, and Israel is not treated as a state above the law
Dr Varsen Aghabekian,
Palestinian Minister of State for Foreign Affairs
Like many Palestinian politicians, she is critical of the US, which has not reached out to her government, for its unequivocal military and political support for Israel in its war on Gaza, now in its second year.
“The only moment when the war will be resolved will come after the international community says enough is enough, and Israel is not treated as a state above the law,” said Dr Aghabekian, the former dean of the University of Jerusalem.
Hope for the future
The war, which has killed more than 41,900 Palestinians in Gaza and about 700 in the occupied West Bank, many by illegal settlers, will go down in the history books “as one of the darkest periods in modern history,” she said from Ramallah.
If Palestinians are not offered any hope for a future then the outcome would be dire, she said. “We would witness much more extremism than what we're seeing today.” But if a promise of a different future is put forward then, “We might forgive”.
If a deal was made, she said, then Palestinians could look to the future with hope “rather than look backward to all the pain inflicted upon them”.
“If you are given something worth living for, then you tend to not forget but you might forgive [Israel] for the time being, because there's a future. But if there's no horizon, no future, then we’re doomed.”
That horizon she refers to would need to be an end to the war and the occupation, where reconstruction begins and the international community ensures “that nothing of this sort happens again”.
Dr Aghabekian, who was born in Jordan, reiterated that “if nothing comes out of this that satisfies Palestinians’ aspirations” after all their suffering, then the whole region was heading towards a big disaster.
During her time in office, she has officially visited Egypt, Jordan and Qatar, but there has been no dialogue with the US. Dr Aghabekian, who earned a doctorate in political affairs at the University of Pittsburgh, is not particularly surprised, labelling the US-Israeli bond a “toxic relationship”.
“The US should think about what they have been doing for the past decades, because that relationship should be much healthier,” she said. “If you're an ally, you need to advise that state and not go along with whatever that state is doing, especially when it's war crimes.”
Israelis should also be “terrified” of the influence wielded by the far-right faction of Finance Minister Bezalel Smotrich and Security Minster Itamar Ben-Gvir. “That terrifies everybody and should terrify Jews themselves,” she said. Their nationalist-Zionist message, that suggests resettling Gaza, was “pushing people towards more wars”.
A point increasingly being made by academics and politicians is that if Israel does not accept a two-state solution it will find itself pushed into a “one-state” solution, where everyone within its borders has a vote.
This would mean there would be roughly seven million Jewish Israelis and a similar number or more of Palestinians and others.
“If you're not for a two-state solution, what other solutions are there?” Dr Aghabekian said. “What are the parameters of that one state? Will Israelis accept to live in a one state, where at one point the Arabs, Muslims, Christians will be a majority?”
There had to be a rational debate with Israelis, she said, understanding that the other ethnicities would not accept living in an “apartheid-like system” of a single state.
Dr Aghabekian said that all illegal settlers, who number more than 500,000 in the occupied West Bank, would have to leave although she agreed that “there might be some border modification” in land swaps in a two-state solution.
Her priority now was to establish an international conference on the future of Palestine, something that has been pushed by Saudi Arabia.
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- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
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Hunting park to luxury living
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Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
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Red cards: Yedlin 57'
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Mohammed bin Zayed Majlis
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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.”