The families of hostages held in Gaza hold a silent protest to mark one year since the October 7 attack by Hamas. Reuters
The families of hostages held in Gaza hold a silent protest to mark one year since the October 7 attack by Hamas. Reuters
The families of hostages held in Gaza hold a silent protest to mark one year since the October 7 attack by Hamas. Reuters
The families of hostages held in Gaza hold a silent protest to mark one year since the October 7 attack by Hamas. Reuters

Netanyahu vows no let-up in war despite pressure over hostages as Israel marks October 7 attacks


Thomas Helm
  • English
  • Arabic

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Israeli Prime Minister Benjamin Netanyahu sought to have the last word on the first anniversary of the October 7 attacks, refusing to accept blame and pledging to continue the war in Gaza – even in the face of growing domestic pressure.

“As we have often experienced in our history, it is in dark moments such as [October 7] that we exude our great inner power,” he said in a pre-recorded address.

“When put to the test we proved, once again, that we are the Eternal People. A people that fights to bring light to this world, that aspires to spread good and eradicate evil. A people that rises like a lion, leaps up like a lion.”

Mr Netanyahu’s speech was part of the official memorial ceremony, held in the southern town of Ofakim, which was one of the many southern communities affected by the attacks. About 1,200 people were killed on October 7 and 251 were taken hostage.

“We are changing the security reality in our region; for the sake of our children, for the sake of our future, to ensure that what happened on the seventh of October will not happen again. Never again,” Mr Netanyahu said in a cabinet address.

In a year of war on several fronts, 728 soldiers and other security personnel have been killed and almost 4,600 injured, while more than 26,000 projectiles have been fired at Israel, the army said on Monday.

We don’t know what to do with Benjamin Netanyahu. Netanyahu’s just looking for the next person to fight
Gilad Korngold,
father of Hamas hostage Tal Shoham

Israel is fighting in Gaza, where around 42,000 people have been killed in Israeli fire, and in Lebanon, where its army killed over 2,000 people, and is on the brink of a direct war with Iran while also striking targets in Yemen and Syria.

Israeli citizen Gilad Korngold, whose son Tal Shoham is being held hostage in Gaza, dismissed much of what Mr Netanyahu said and viewed the official ceremony with contempt.

“Go to North Korea and you’ll see exactly the same thing,” he told The National. “Who will they blame for October 7 in that event? Which of them will admit they are responsible? Someone needs to be blamed. It wasn’t aliens from the moon that did the attacks. What happens in North Korea? They make it all about the Dear Leader – in Israel, Netanyahu – and nothing else.”

He spent the day attending events across the country calling on the government to do more to bring the hostages home. The gatherings blurred memorial with protest. People chanted, sang and held aloft photos of the hostages and the dead. One took place in the Re’im forest, the site of the Nova Festival where hundreds were killed. Another gathering happened outside Mr Netanyahu’s Jerusalem home. Others took place in Tel Aviv and further north.

Mr Korngold spoke to The National from an alternative memorial event for bereaved families, in Tel Aviv. It was an evening of emotional songs and speeches, set up as an apolitical alternative to the Ofakim ceremony, which was dogged by public criticism months before it took place. Many of the bereaved had said they would boycott the Ofakim event, which they viewed as an attempt by the government to deflect blame.

“We don’t know what to do with Benjamin Netanyahu,” Mr Korngold said. “He does everything he cannot to make a hostage deal. I don’t trust this government.”

The father is waiting for another hostage release deal for his son. Other family members were released during one in November, but Tal was not among them.

An October 7 memorial. Tom Helm / The National
An October 7 memorial. Tom Helm / The National

He spoke to The National as other families sat at the front of the large open-air ground. Some were wearing group T-shirts with pictures of their dead. Others clutched sunflowers, a symbol of Israeli hostages in Gaza.

Mr Korngold said his main struggle during the anniversary was keeping his grandsons and daughter-in-law “afloat”. They were also taken hostage on October 7 but were released during the November deal. Tal is their father and husband.

“They are in bad shape,” Mr Korngold said. “Rather than getting better, it’s getting worse and worse because their father isn’t coming back. It’s been chaos in the house. They know the horror of where he is. They know the conditions.”

About 2,000 people attended the Tel Aviv memorial, despite rocket sirens sounding across the city and central Israel an hour before the event began. All of those attending, except a few journalists, were direct relatives or close friends of victims.

“It still feels surreal, like a nightmare that we are still supposed to wake up from eventually,” resident Ariel Tamir said.

In Jerusalem, Shir Siegel said the wait for her father's return from captivity has been agonising. “A year has passed but actually one long day has passed that feels like an eternity,” she told AFP.

“Our loved ones are still in captivity,” demonstrator Yuli Ben Ami told AFP. “It's a really hard punch in the gut. It's a year that just disappeared.”

Empty spaces

About 40,000 members of the general public had initially been given tickets, but military authorities ordered that numbers be reduced amid the heightened risk of rocket fire and attacks. The directive came so late that organisers had not dismantled the infrastructure in place to deal with the large crowds that were no longer coming.

Empty spaces in the park were sectioned off with metal fences and dotted with tall scaffolding for speakers, barren of any visitors except the odd policeman or soldier. Security was extremely tight, even though numbers were greatly reduced.

Outside the event, people sat outside the fence in solidarity with the 2,000 that would soon be making their way out.

“I’m active not just in the movement to get the hostages home, I’m also militant against my government,” Mr Korngold said. “I hate them. They’re a bunch of zeros. Netanyahu’s just looking for the next person to fight.”

“People say this is an anniversary, a year, but that label doesn’t make any sense to me. This is the same suffering as any other day. Tal is suffering like every other day since October 7. The family is suffering like every other day.”

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.”

Key facilities
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  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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 

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Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5

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Director: Shonali Bose

Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

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The specs
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  • Power: 640hp
  • Torque: 760nm
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Brief scores:

QPR 0

Watford 1

Capoue 45' 1

Updated: October 08, 2024, 12:35 PM