Two days of Gaza ceasefire talks in Doha this week came to a close, with no word from US, Egyptian and Qatari mediators on whether the latest proposals to end the year-long war in the Palestinian enclave have brought a deal any closer.
Sources said mediators and negotiators have left the Qatari capital while mid-ranking officials continue discussions on the proposals.
The negotiations in Doha over Sunday and Monday were widely regarded as the last push by the US to reach a deal on a Gaza ceasefire and a hostages-for-prisoners swap before the presidential election on November 5.
“We don’t see anything moving until after all parties, particularly Israel, know who will next be in the White House,” said one source. “Besides, we don’t see what is being offered right now is acceptable to Israel or Hamas.”
In Washington, US officials said President Joe Biden’s administration backed an Egyptian proposal for a brief Gaza ceasefire – 48-72 hours according to the sources – that would result in Hamas releasing five hostages in return for an unspecified number of Palestinians detained in Israel.
According to US officials who spoke to the Associated Press in Washington, the plan also includes the opening of more routes for humanitarian aid into the enclave.
“We need a ceasefire. We should end this war. It should end. It should end. It should end,” Mr Biden said on Monday.
One of the officials told the AP that the administration would support virtually any suggestion that leads to a reduction in the suffering of Palestinian civilians and the release of hostages but said that “We’re not holding our breath.”
On Monday, the office of Prime Minister Benjamin Netanyahu said Israel did not receive a proposal that would include the release of hostages in return for a 48-hour ceasefire in the Gaza Strip.
“If such a proposal were made, the prime minister would accept it on the spot,” it said in a statement.
US Secretary of State Antony Blinken has said the killing earlier this month of Hamas leader Yahya Sinwar helped to open a window towards a Gaza ceasefire deal, a notion that echoes comments by Mr Biden this month.
Mr Blinken visited Israel, Qatar and Saudi Arabia last week, his 11th Middle East tour since the Gaza war broke out in October last year.
The search for a deal in Qatar this week brought together CIA director William Burns, his Israeli counterpart Mossad chief David Barnea and Sheikh Mohammed bin Abdulrahman Al Thani, Prime Minister of Qatar.
Hassan Mahmoud Rashad, Egypt’s newly appointed intelligence chief, did not take part in the talks, leaving Cairo’s representation at a lower level, sources said without elaborating.
Hamas has yet to formally respond to the plan, but the sources said talks between Egyptian and Hamas officials in Cairo last week left the hosts in no doubt that the militant group had no intention of budging on its core conditions for releasing the roughly 100 Israeli and other hostages it is holding in Gaza.
These conditions are a full Israeli withdrawal from Gaza, a permanent ceasefire and the unconditional return of the displaced to their homes across the enclave.
Israel’s declared war goal is to eradicate Hamas and put in place security arrangements that ensure that there will never be a repeat of the group’s October 7, 2023 attack on southern Israel that killed 1,200 people and sparked the Israel-Gaza war that has killed at least 43,000 Palestinians.
Israel has rejected any governance or security role for the Palestinian Authority in Gaza, something that is a deal-breaker for both the Ramallah-based authority and for Arab nations whose support is critical for the success of any plan to end the war.
In Doha on Tuesday, US ally Qatar said it intended to work with Mr Biden's administration “until the last minute” before the presidential election to reach a Gaza ceasefire deal.
“We don't foresee any negative result of the elections on the mediation process itself. We believe that we are dealing with institutions, and in a country like the United States, the institutions are invested in finding a resolution to this crisis,” Foreign Ministry representative Majed Al Ansari told a news conference.
The war in Gaza has displaced most of the territory's 2.3 million residents, often several times.
If you go
Flights
Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.
The stay
Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
Wenger's Arsenal reign in numbers
1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
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.”
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
APPLE IPAD MINI (A17 PRO)
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
