Live updates: Follow the latest on Israel-Gaza
Israel was on tenterhooks on Wednesday as a second hostage deal with Hamas appeared closer than ever, raising the prospect of an end to one of the most traumatic crises in the region’s history.
If fully realised, the three-part deal could free all 98 hostages taken from Israel, living and dead, and end the Gaza war, in which more than 46,700 Palestinians have been killed and the vast majority of the strip’s population displaced.
Despite Israeli public opinion surveys long showing a preference for a deal to release the captives, there has been vocal opposition to one throughout the process and wider unease about the concessions Israel would have to make to secure an agreement, which include the release of Palestinian detainees held on terror charges and significant Israeli withdrawal from the strip without having secured a decisive defeat of Hamas.
The most vocal opposition came from far-right National Security Minister Itamar Ben-Gvir. As reports indicating progress have mounted since the beginning of the week, Mr Ben-Gvir, who has consistently favoured a heavy military approach in Gaza over negotiations with Hamas, led the charge against a deal, calling on his far-right political ally Finance Minister Bezalel Smotrich to leave the government if a deal is reached. Mr Ben-Gvir earlier boasted that he had prevented a similarly “terrible” deal on a number of occasions during the past year.
In response, Mr Smotrich said on X on Wednesday that the war should go on, but remained ambiguous on whether he would support or oppose the deal. Israeli news outlet Haaretz reported late on Wednesday afternoon that Mr Smotrich had concluded a meeting with Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz.
Amir Avivi, a former Israeli general, said there is “no right or wrong” when it comes to support for a deal and that an agreement is more “a matter of what we prioritise at this specific moment”.
“As we enter this deal, Israel has to come up with a new strategy about how to defeat Hamas,” he added. "This is a long-term process. Gaza is a ticking bomb. Diffusing it is going to take many years.
“What’s happening now is Hamas is rebuilding itself faster than we’re destroying them." He said he believes the Trump administration in the US will be much more open to new Israeli proposals on how to defeat the group.
Carmit Palty Katzir, who had one family member killed and two taken hostage during the Hamas-led October 7 attacks, called for a deal to be passed, saying her story is a “very sad example of the consequences of what might happen when you’re able to rescue hostages on time, but delay”, in reference to her mother, who died soon after her release in the first truce deal of November 2023.
“We had a chance to tell her how much we loved her and for her to meet her daughters and grandkids," she said. "There are so many people we can still save. We have to save them."
A social worker, Ms Palty Katzir, whose father was killed on October 7 and whose brother was killed in captivity in Gaza, was part of planning efforts potentially to receive the latest round of hostages, who are expected to be in far worse condition than those released during the first deal.
Dr Amir Blumenfeld, a physician who works on treating and rehabilitating Gaza war hostages, said “every system in the body is damaged due to stays in captivity like this, especially in tunnels”.
“After 15 months we pretty much expect many illnesses, physical and mental, from everyone, no matter who it was before what their shape or medical condition,” he added. “I call every one of them a humanitarian case that needs to be released as soon as possible.”
UAE currency: the story behind the money in your pockets
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
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.”
How it works
A $10 hand-powered LED light and battery bank
Device is operated by hand cranking it at any time during the day or night
The charge is stored inside a battery
The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode
A full hand wound charge is of 16.5minutes
This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode
When more light is needed, it can be recharged by winding again
The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge
No limit on how many times you can charge
Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
INFO
Everton 0
Arsenal 0
Man of the Match: Djibril Sidibe (Everton)
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
