Palestinians react after an Israeli strike hit the Rafidiah school housing displaced people in Deir Al Balah in central Gaza. AFP
Palestinians react after an Israeli strike hit the Rafidiah school housing displaced people in Deir Al Balah in central Gaza. AFP
Palestinians react after an Israeli strike hit the Rafidiah school housing displaced people in Deir Al Balah in central Gaza. AFP
Palestinians react after an Israeli strike hit the Rafidiah school housing displaced people in Deir Al Balah in central Gaza. AFP

Israeli strike on Gaza school kills 28 as families gather to collect milk for children


Holly Johnston
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Live updates: Follow the latest on Israel-Gaza

At least 28 Palestinians were killed and 92 injured in an Israeli air strike as families gathered to collect milk for infants at a school-turned-shelter in central Gaza.

Mostly women and children were killed in the attack on Deir Al Balah's Rafidiah school, which was sheltering Palestinians displaced from elsewhere in Gaza, according to the government media office.

Graphic footage from the site showed civilians collecting what remained of those killed, while others were shot at while trying to flee the scene.

Israel “chose the time of the bombing at the peak time when children and women were moving to get their daily food,” the media office said, corroborating witness reports of families waiting to collect milk for children at the time of the strike.

"The occupation army was aware that this school contained thousands of displaced children and women who were displaced from their homes and whose civilian neighbourhoods were bombed," it added. The office said 190 shelters have now been bombed by Israel in its year-long war on Gaza.

The Israeli army claimed the school was being used as a Hamas command centre.

More than 150 Palestinians have been killed in northern Gaza in five days as Israel continues a siege on the area, Palestinian authorities have said, with at least 700,000 people refusing to leave their homes and being displaced to the south.

Jabilia refugee camp has been particularly affected, with people trapped in schools and homes amid constant shelling and air strikes.

A boy watches a smoke plume rise while standing in the balcony of the Rafei school, being used as a displacement shelter, in the Jabalia camp for Palestinian refugees in the northern Gaza Strip on October 9, 2024. AFP
A boy watches a smoke plume rise while standing in the balcony of the Rafei school, being used as a displacement shelter, in the Jabalia camp for Palestinian refugees in the northern Gaza Strip on October 9, 2024. AFP

At least 150 people were killed across northern Gaza in the previous five days, the official Wafa news agency reported on Wednesday night, before three others were killed in overnight shelling on Jabilia camp.

Patients and staff at three hospitals in the area – Kamal Adwan, Indonesian, and the Al Awda Hospital – have all been told to leave the facilities by Thursday afternoon, Wafa reported, four days after residents across the north were ordered to flee south.

Israeli forces have already surrounded Kamal Adwan and opened fire at the facility, authorities and witnesses told The National on Wednesday. Camp residents have described families trapped in schools and homes amid constant Israeli shelling, with medical crews unable to reach the wounded. The Palestinian Red Crescent has also said it has received "urgent pleas" from people across the north but is unable to reach them.

The Israeli army launched a fresh ground operation on Jabilia on Sunday, hours after what local media described as the worst air strikes on the area in months. The camp, now surrounded by Israeli forces, was largely destroyed in a previous army raid in May.

Despite the danger, 700,000 out of 1.2 million people across northern Gaza and Gaza city refuse to be displaced to the south, according to official Palestinian data cited by Wafa.

The UN said around 400,000 people are trapped in the area, with Israeli attacks forcing UN-run schools to shut and services to halt – some for the first time since the war began.

The operation also endangers the second phase of polio vaccinations for children, UNRWA chief Philippe Lazzarini said, raising fears previous efforts to stop the disease from spreading may be in vain.

Palestinians still in the area are facing increasingly difficult conditions – with the Israeli army preventing the entry of basic supplies into northern Gaza for five days, according to Wafa.

Elsewhere in Gaza, a seven-month-old baby was among five family members killed in a strike on Khan Younis, as intense attacks continued on Beit Lahia, Al Bureij, and Al Nuseirat refugee camp.

One person was also killed and several others wounded in a strike north-west of Gaza city.

The Israeli army also carried out raids in the occupied West Bank on Wednesday night. The Al Aqsa Martyr's Brigades said the group's leader in the Balata refugee camp and several of its militants were killed by Israeli special forces in Nablus on Wednesday. Leader Issam Al Salaj and three fighters were killed in a "cowardly assassination" in the city, the group said.

Israeli forces arrested 22 Palestinians overnight, including two children, across the occupied West Bank, according to Wafa. More than 11,200 people have been arrested across the occupied West Bank and East Jerusalem since the Gaza war began last October.

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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 name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

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Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place. 

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Updated: October 10, 2024, 12:16 PM