Palestinian women grieve for victims of an Israeli strike on Al Aqsa Martyrs Hospital in Gaza on Sunday. AP
Palestinian women grieve for victims of an Israeli strike on Al Aqsa Martyrs Hospital in Gaza on Sunday. AP
Palestinian women grieve for victims of an Israeli strike on Al Aqsa Martyrs Hospital in Gaza on Sunday. AP
Palestinian women grieve for victims of an Israeli strike on Al Aqsa Martyrs Hospital in Gaza on Sunday. AP

Hamas starts hostage headcount ahead of possible swap for Palestinians jailed in Israel


Hamza Hendawi
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Live updates: Follow the latest on Israel-Gaza

Hamas operatives in Gaza have started compiling a list of the estimated 100 hostages held by the group, establishing their names, whereabouts, state of health and determining the number of those who have died while in captivity, sources told The National on Sunday.

They said it was a prelude to a limited swap of hostages for Palestinians held in Israeli prisons under Egyptian proposals for a renewable truce of up to 30 days, the delivery of humanitarian assistance to Gaza and the return of displaced Palestinians to their homes.

It also marks a change of heart by the group, which had in the past adamantly refused to entertain Israeli requests for information on the hostages, whom the Israeli military believes include about 40 who died in captivity.

News of the Hamas endeavour coincides with the expected resumption later on Sunday of talks on a Gaza deal, bringing together mediators from the US and its ally Egypt along with negotiators from the militant group and Israel. The talks in Doha will end a three-month hiatus in high-level efforts to broker a deal.

On Sunday, Qatar called for pressure to be applied on all sides to reach a ceasefire, arguing the Israeli "bloodshed" against Palestinians must end now and without reservation.

"Pressure on both sides is necessary in any conflict," said Majed Al Ansari, an adviser to the Prime Minister and spokesman for the Ministry of Foreign Affairs. "You don't mediate between friends, you mediate between adversaries. You mediate between those who are aiming to basically either diminish each other or abolish each other. And this is what we are seeing right now in this country."

The sources said Israel planned to renew its offer for a safe passage of Hamas leaders out of Gaza and a guarantee it would not hunt them down in exile. Hamas had previously rejected the offer but the sources said some Hamas leaders in Gaza were not opposed, a position they said was likely to open a rift within the group.

Smoke rises after Israeli air strikes on Al Maghazi refugee camp in the central Gaza Strip on December 7. EPA
Smoke rises after Israeli air strikes on Al Maghazi refugee camp in the central Gaza Strip on December 7. EPA

In a move likely to further complicate the Doha negotiations, Fatah, the dominant faction in the West Bank-based Palestinian Authority, has rejected the mandate of a proposed committee of Palestinian technocrats and experts to run postwar Gaza, including the vital Rafah crossing between Egypt and Gaza that has been closed since May.

“The committee will enshrine divisions,” Jibril Rajoub, head of Fatah's powerful central committee, said on Saturday. He also suggested the committee would serve the “agendas” of parties he did not name.

Egypt closed the crossing to protest against Israel's capture of it and the strip of land that runs the length of its border with Gaza on the Palestinian side. It rejects any Israeli presence on the Palestinian side of the Rafah crossing and has advocated the creation of a Palestinian agency to run it.

The Rafah crossing, Gaza's only gate to the outside world that is not controlled by Israel, was the main passageway for humanitarian assistance into the enclave after the war began in October last year and until May.

Pro-Palestine protesters rally in Sydney, Australia on Sunday, demanding an end to the war in Gaza. Getty Images
Pro-Palestine protesters rally in Sydney, Australia on Sunday, demanding an end to the war in Gaza. Getty Images

Qatar's Prime Minister struck an upbeat note on the prospects for a Gaza deal, saying momentum had returned to the talks following Donald Trump's election last month.

“We have sensed, after the election, that the momentum is coming back,” Sheikh Mohammed bin Jassim, who is also his nation's Foreign Minister, told the Doha Forum for political dialogue on Saturday.

He said there had been “a lot of encouragement from the incoming administration in order to achieve a deal, even before the president comes to the office".

He added: "We hope to get things done as soon as possible. We hope that the willingness of the parties to engage in good faith continues.”

A similarly positive note came from a source close to the Hamas delegation who told AFP that Turkey, as well as Egypt and Qatar, had been “making commendable efforts to stop the war”. In a statement later on Saturday, the group said Turkish spy chief Ibrahim Kalin had met Hamas leaders in Doha to discuss the war in Gaza.

Mr Trump last week warned on social media of unspecified massive repercussions if the hostages held by Hamas were not released by the time he takes office on January 20. He has also vowed staunch support for Israel and to dispense with outgoing President Joe Biden's occasional criticism of the close US ally.

The war in Gaza was sparked by an attack in October last year by Hamas and its allies on southern Israel, where they killed 1,200 and took another 250 hostage. The attack drew a devastating Israeli response that has to date killed about 45,000 Palestinians and injured more than twice that number, according to Gaza government figures.

The relentless Israeli campaign has displaced most of Gaza's 2.3 million residents, razed built-up areas and created a humanitarian crisis.

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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: December 08, 2024, 1:39 PM