Fadi Al Saadi mourns next to the body of his brother Abdel Wahab, who was killed in an Israeli raid, in Jenin on Tuesday. Reuters
Fadi Al Saadi mourns next to the body of his brother Abdel Wahab, who was killed in an Israeli raid, in Jenin on Tuesday. Reuters
Fadi Al Saadi mourns next to the body of his brother Abdel Wahab, who was killed in an Israeli raid, in Jenin on Tuesday. Reuters
Fadi Al Saadi mourns next to the body of his brother Abdel Wahab, who was killed in an Israeli raid, in Jenin on Tuesday. Reuters

At least 10 killed as Israel intensifies attacks on Jenin


Nada AlTaher
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Israeli forces intensified their attacks on Jenin camp on Tuesday, killing at least 10 people and wounding others. The Israeli operation in the occupied Palestinian territory, involving soldiers, police and intelligence services, began just two days after a ceasefire went into effect in Gaza.

Those wounded on Tuesday arrived at Ibn Sina, Al Amal and Al Shifa hospitals in the West Bank city, the Palestinian Ministry of Health said.

Dr Wissam Bakr, director of Jenin Public Hospital, said a doctor was among those injured, the Wafa news agency reported. Calling it a “total raid”, Palestine Red Crescent spokesman Ahmad Jibril told The National: “There are several people killed and wounded and some that we're unable to reach.”

Israel has named the Jenin operation “Iron Wall”. Prime Minister Benjamin Netanyahu's office said the Shin Bet security agency and Israeli police launched the attacks after a cabinet meeting. “We are acting systematically and resolutely against the Iranian axis wherever it extends its arms,” a statement said.

Security officers controlled by the Palestinian Authority have been conducting an operation to root out armed groups in Jenin for weeks, engaging in gunfights in the streets.

“Palestinian security forces are stationed on the outskirts of the camp, and the Israeli forces are stationed at the camp. We can't even evacuate the elderly without them being shot at,” camp resident Musab Al Sabbagh told The National.

His sister Shatha Al Sabbagh, a journalist, was reportedly shot dead by Palestinian security forces in the camp last month. The Palestinian Authority denies the accusations and has blamed armed groups for her death.

“This is not a war, this is more than war,” Mr Al Sabbagh said.

Residents and the Palestinian news agency Wafa reported tanks in the area. The Israeli military did not immediately respond to a request for comment.

Hamas, which controls Gaza, has called on people in the West Bank to confront Israeli forces in Jenin and “escalate the clash with the occupation army”. The group expressed “surprise” that Palestinian security forces had withdrawn from areas near the Jenin camp as Israeli forces were beginning their raid.

“This military operation launched by the occupation in Jenin will fail, as all its previous military operations against our steadfast people and their valiant resistance have failed,” Hamas said.

The operation comes amid a hardening stance by Israel's far-right government about the security situation in the West Bank. Far-right Finance Minister Bezalel Smotrich, a settler, said in a post on X that “after Gaza and Lebanon, today, with God's help, we have begun changing the security perception” in the West Bank, “and in the campaign to eradicate terrorism in the region”.

“Iron Wall will be a strong and ongoing campaign against the elements of terrorism and its perpetrators, to protect the settlement and the settlers, and for the security of the entire state of Israel, of which the settlement is the security belt,” Mr Smotrich said.

He said the operation was part of “war goals that were added” after demands from his political party, Religious Zionism, which has advocated strong military actions throughout the Gaza war.

Far-right ministers such as Mr Smotrich and his political ally, former national security minister Itamar Ben-Gvir, have come under fierce criticism from their base since the Israeli government approved a ceasefire deal with Hamas last week. Opponents of the deal say the release of hundreds of Palestinians from Israeli prisons, in exchange for about 100 hostages held in Gaza, endangers national security and that the military's withdrawal from the coastal Palestinian enclave threatens the dream of many settlers to reoccupy it.

Defence Minister Israel Katz said Israeli settlements were coming under increased threat because “our enemies recognise now that [the occupied West Bank] is the only arena that is open today”.

“We are committed and the [military] is committed, in accordance with my directive, to act forcefully to protect all the settlers and settlements against Palestinian terrorism,” Mr Katz said.

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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

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Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

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GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
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Results

Men's finals

45kg:Duc Le Hoang (VIE) beat Zolfi Amirhossein (IRI) points 29-28. 48kg: Naruephon Chittra (THA) beat Joseph Vanlalhruaia (IND) TKO round 2.

51kg: Sakchai Chamchit (THA) beat Salam Al Suwaid (IRQ) TKO round 1. ​​​​​​​54kg: Veerasak Senanue (THA) beat Huynh Hoang Phi (VIE) 30-25.

57kg: Almaz Sarsembekov (KAZ) beat Tak Chuen Suen (MAC) RSC round 3. 60kg: Yerkanat Ospan (KAZ) beat Ibrahim Bilal (UAE) 30-27.

63.5kg: Abil Galiyev (KAZ) beat Nouredine Samir (UAE) 29-28. 67kg: Narin Wonglakhon (THA) beat Mohammed Mardi (UAE) 29-28.

71kg: Amine El Moatassime (UAE) w/o Shaker Al Tekreeti (IRQ). 75kg:​​​​​​​ Youssef Abboud (LBN) w/o Ayoob Saki (IRI).

81kg: Ilyass Habibali (UAE) beat Khaled Tarraf (LBN) 29-28. 86kg: Ali Takaloo (IRI) beat Emil Umayev (KAZ) 30-27.

91kg: Hamid Reza Kordabadi (IRI) beat Mohamad Osaily (LBN) RSC round 1. 91-plus kg: Mohammadrezapoor Shirmohammad (IRI) beat Abdulla Hasan (IRQ) 30-27.

Women's finals

45kg: Somruethai Siripathum (THA) beat Ha Huu Huynh (VIE) 30-27. 48kg: Thanawan Thongduang (THA) beat Colleen Saddi (PHI) 30-27.

51kg: Wansawang Srila Or (THA) beat Thuy Phuong Trieu (VIE) 29-28. 54kg: Ruchira Wongsriwo (THA) beat Zeinab Khatoun (LBN) 30-26.

57kg: Sara Idriss (LBN) beat Zahra Nasiri Bargh (IRI) 30-27. 60kg: Kaewrudee Kamtakrapoom (THA) beat Sedigheh Hajivand (IRI) TKO round 2.

63.5kg: Nadiya Moghaddam (IRI) w/o Reem Al Issa (JOR).

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RESULT

Los Angeles Galaxy 2 Manchester United 5

Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')

The years Ramadan fell in May

1987

1954

1921

1888

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.”

Oppenheimer
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Updated: January 22, 2025, 7:52 AM