Palestinian Authority security troops in Jenin, in the occupied West Bank. Reuters
Palestinian Authority security troops in Jenin, in the occupied West Bank. Reuters
Palestinian Authority security troops in Jenin, in the occupied West Bank. Reuters
Palestinian Authority security troops in Jenin, in the occupied West Bank. Reuters

Palestinian Authority fails to secure Jenin camp after attacks on Israeli checkpoint


Nada AlTaher
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The Palestinian Authority is in an "embarrassing position" having failed to secure the Jenin refugee camp after besieging it for more than a month, experts have said. It comes after three men from the area killed three Israelis at a checkpoint in the occupied West Bank on Monday.

The PA began a siege on Jenin camp on December 5, where it said it was cracking down on “outlaws”, who had outstanding arrest warrants against them for murder, theft and destruction of military and civilian property. At least 14 people have been killed since the crackdown began, the Palestinian Health Ministry said.

But Monday's shooting attack on a car and bus in the Palestinian village of Al Funduq, close to the illegal Israeli settlements of Kedumim and Karnei Shomron, has exposed the powerlessness of the group to stop violence.

“Today's militant operation complicates things and places the Palestinian Authority in an embarrassing position,” a Palestinian security consultant told The National.

The PA was established as part of the Oslo Accords in 1994 and was meant to be a transitional government but has since outgrown this status. The US and regional governments have all called for its reform amid accusations of rampant corruption within its ranks.

A Palestinian Authority vehicle at the entrance of the Jenin refugee camp, in the occupied West Bank. AFP
A Palestinian Authority vehicle at the entrance of the Jenin refugee camp, in the occupied West Bank. AFP

Jenin refugee camp has become a hotbed for militant activity and houses members of Hamas and the Palestinian Islamic Jihad (PIJ), which on Monday criticised the PA incursion and said they would switch their position from “defence to offence”.

Senior research fellow at the Jerusalem Institute for Israel Studies, Kobi Michael, said the PA security apparatus has “not succeeded in taking control over the refugee camp”, which he says represents “the heart of the problem”.

While a war rages on in Gaza, where more than 45,900 Palestinians have been killed by Israeli bombardment and at least 109,000 others have been injured, the PA has received push back and criticism for killing its own people in the West Bank. Journalist Shatha Al Sabbagh's family is among those who accuse the PA of killing their daughter.

The Palestinian security troops have denied this accusation, placing the blame on militants in the Jenin camp. The PA also insists its attacks are not against “legitimate resistance fighters” but armed criminals who are using the umbrella of resistance groups as cover.

The Palestinian consultant said the timing of the Palestinian security operation in Jenin also comes ahead Donald Trump's return to the White House to showcase its ability in quashing non-state actors in the West Bank.

“The PA is doing its homework. It wants to show the Americans that it can take on this challenge of Jenin and win there so it can become a credible option in the administration of Gaza after the war,” the consultant said.

The siege on Jenin came after Palestinian security troops arrested men wanted by Israel. In response, militants seized two vehicles that belonged to the Palestinian security troops, prompting the crackdown on Jenin.

Jenin represents the “belly of the beast” for the PA, said senior Palestine analyst at the Crisis Group Tahani Mustafa, and destroying the network of armed groups there would mean “destroying the phenomenon from the root”.

The Palestinian Authority's security apparatus is armed and trained by the US and has become increasingly seen as aligned with Israel, especially after its closure of Al Jazeera network offices in Ramallah for the Qatar-based broadcaster's coverage of the Jenin camp operations.

The Palestinians used the theft of the vehicles and ensuing confrontation between security troops and militants there as a justification to carry out the siege, Ms Tahani said.

“The PA was waiting for a pretext … it started with Tubas back in October where militants were much easier to get to grips with. They're not as dogmatic and committed [as the ones in Jenin]. When the PA went in and did a similar thing there, on a smaller scale, 80 people surrendered themselves.”

Local media and activists reported that the Palestinian Authority made arrests among militant groups in Tubas, including the commander of the PIJ Tubas battalion, who is wanted by Israel.

Mr Michael said Israel has an interest in seeing the PA succeed in Jenin because it would then mimic that experience in other parts of the West Bank. But it could not do that without support from the Israeli army, he said.

“Without the IDF support, the PA wouldn’t have succeeded in surviving in the West Bank,” he said. More broadly, however, Mr Michael said that the PA's success in Jenin would not automatically give it the credibility it is seeking to run the Gaza Strip once a ceasefire is reached there.

“The Palestinian Authority needs to be reformed and revitalised and there are other conditions that should be realised in order to enable the PA to run the Gaza Strip,” he said, adding that while Israel is “pro” alternative governance to Hamas in Gaza, it is also seeking a “reliable, effective and responsible” PA to govern.

“Not the current one,” he said. “I believe that we're too far from the realisation of that option.”

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How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Updated: January 07, 2025, 2:35 PM