Live updates: Follow the latest on Israel-Gaza
Israel's decision to delay the release of Palestinian detainees could be part of a plan by Israeli Prime Minister Benjamin Netanyahu to hinder the progress of the first, six-week phase of the Gaza ceasefire deal, sources told The National on Sunday.
Israel said it was delaying the release of hundreds of Palestinian detainees it was supposed to free due to “humiliating” ceremonies held by Hamas during its release of hostages, underscoring the fragility of the Gaza ceasefire accord. Hamas called it a “deliberate attempt to disrupt” the ceasefire agreement.
The sources said Israel was probably using the delay to coerce Hamas into releasing more hostages than the 33 agreed on under the deal's first phase. Israel, they added, had already informed the US it had no intention to withdraw from the narrow strip of land that runs the entire length of the Egypt-Gaza border on the Palestinian side.
Under the terms of the deal, negotiations on the second phase of the deal – which were supposed to start earlier this month – would produce an agreement on a full Israeli withdrawal from Gaza and a permanent ceasefire. However, Israel has repeatedly made clear that it seeks to retain an open-ended security role in Gaza, create security zones in the north and east of the territory as well as a complete dismantlement of Hamas's military and governance capabilities.
“Israel no longer wants a second phase. It wants to see the first phase extended on the same terms with the remaining hostages released in exchange for Palestinian prisoners,” said one of the sources. Hamas has repeatedly aired fears that Israel will resume military operations in Gaza after all the hostages are released.
Israel was supposed to release more than 600 Palestinian detainees as part of the seventh detainee-hostage swap. The Palestinian militant group called the delay a “blatant violation” of the truce deal.
“Netanyahu's decision reflects a deliberate attempt to disrupt the agreement, represents a clear violation of its terms and shows the occupation's lack of reliability in implementing its obligations,” the group said.
Mr Netanyahu's office early on Sunday said that Israel was waiting to deliver the 620 Palestinian detainees “until the release of the next hostages has been assured, and without the humiliating ceremonies”.
“The [Israeli claim that the handover ceremony is humiliating is a false claim and a flimsy pretext aimed at evading the obligations of the agreement,” Hamas said.
“These ceremonies do not include any humiliation of the hostages, but rather reflect the humane and dignified treatment of them,” it said.
Hamas called on the mediators and the international community to assume their responsibilities and pressure Israel to implement the agreement and release the prisoners without any delay.
UN officials have said that recent hostage handovers by Hamas went against international law because they were not respectful. Hamas has made hostages appear on stage in front of crowds and sometimes speak before they were handed over. One of the six hostages, Omer Shem Tov, appeared kissing the foreheads of two of the Hamas fighters he was on stage with, and blew kisses to the crowd.
The six hostages freed on Saturday were the last living Israeli captives due to be handed over during the first phase of the ceasefire. The bodies of four dead Israeli hostages were to be released next week.
After the six hostages arrived back in Israel, Hamas released a video in which two other hostages, Evyatar David and Guy Gilboa-Dalal, were seen watching one of the handovers earlier on Saturday.
Hamas spokesman Abdul Latif Al Qanou earlier accused Israel of violating the ceasefire as the Saturday passed without the release of Palestinians as planned.
Israel and Hamas have frequently accused each other of violations since the ceasefire started on January 19 but it has so far continued to hold. Hamas at one stage said it would stop handing over hostages because of alleged Israeli breaches.
In the Israeli-occupied West Bank and in the Gaza Strip, families had waited for hours on Saturday for their loved ones to be released from Israeli custody in exchange for the six Israelis returned home.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
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Transmission: 8-speed auto
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SPECS
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Sholto Byrnes on Myanmar politics
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
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Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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The specs
Engine: 4.0-litre flat-six
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Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
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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.”
A Dog's Journey
Directed by: Gail Mancuso
Starring: Dennis Quaid, Josh Gad, Marg Helgenberger, Betty Gilpin, Kathryn Prescott
3 out of 5 stars
The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
Power: 335hp @ 5,000rpm
Torque: 500Nm @ 1,370rpm
Fuel economy 5.9L / 100km
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
COMPANY%20PROFILE
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The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
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The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
COMPANY%20PROFILE
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Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Conservative MPs who have publicly revealed sending letters of no confidence
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- Nadine Dorries
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- Chris Green
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