Several Labour MPs raised concerns over the UK’s stance towards Israel on Thursday, accusing the government of double standards as they called for further sanctions in light of recent attacks on Gaza.
Foreign Secretary David Lammy told the House of Commons that the resumption of Israeli military action in Gaza had resulted in an “appalling loss of life”, and said the UK is working with France and Germany to send Israel a “clear message” that they “strongly oppose” the resumption of hostilities. It appeared that the beleaguered Foreign Secretary had been sent to make a statement on Gaza by No 10 Downing Street to placate the anger of Labour backbenchers fed up with the government’s position on Israel.
But he faced stinging criticism of the UK’s failure to censure Israel for restarting the war and was heckled by some opposition MPs as he stopped short of repeating his previous remarks that there had been a “breach of international law” by Israel – he instead said the UK government believes there is a “clear risk” of this happening. More than 500 Palestinians have been killed in the past 48 hours, more than half of them women and children, a Gaza health official told Reuters.
Imran Hussain, Labour MP for Bradford East, said: “The double standards and injustice we are witnessing on the international stage is truly appalling. It’s obvious that Israel is breaking international law as every serious legal expert on international law has pointed out.
“It’s shameful, frankly, that the government refuses to state that about Israel, but will likely do so about Russia’s violation in Ukraine, and I say to the Foreign Secretary, the concern and outrage he expresses at the despatch box is not ending the bloodshed. When will we get the scale of sanctions on Israel that its war crimes demand?”
Labour MP Emily Thornberry, who chairs the Foreign Affairs Select Committee, said: “The renewed bombing in Gaza cannot be justified, the renewed siege of Gaza cannot be justified. And it is difficult to see how either of those is compatible with international law. It will be for a court to decide and there will be a reckoning.”
Kit Malthouse, a former Conservative cabinet minister, told the Foreign Secretary that the “Israelis have now crossed a monstrous red line”. He added: “This morning, ministers were out on the airwaves offering British troops to keep the peace between Ukraine and Russia. What is it about the Palestinian people that means they’re less deserving of that kind of protection?”
Much of the anger was directed at Mr Lammy himself after he told parliament on Monday that Israel’s action in cutting off aid to Gaza amounted to a breach of international law. He was later corrected by Downing Street, which caveated his statement with the words “at clear risk”, a phrase Mr Lammy repeated frequently after he was sent to the Commons to make amends.
“It's difficult to see how denying humanitarian assistance to a civilian population can be compatible with international humanitarian law, though it's important to say I could have been a little clearer in the House on Monday," he told MPs. "But our position remains that Israel's actions in Gaza are at clear risk of breaching international humanitarian law.”
At times he was emotional in condemning Israel's conduct, stating in reference to the estimated 59 remaining Israeli hostages in Gaza that military action “is not the way to bring them home” and saying the 49,000 Palestinian deaths were "staggering ... staggering". He said that “darkness has returned” to the region and that “days of death, deprivation and destruction” lay ahead if Israel continued its attacks.
But evidence of Britain’s diminished influence came as Mr Lammy was reduced to announcing that Steve Witkoff, US President Donald Trump’s Middle East envoy, would very soon land in Israel to resume talks on a ceasefire. At one moment during the debate he dramatically announced that Hamas had fired missiles towards Tel Aviv “and sirens are going off as I speak”.
Mr Lammy then stressed that he would in a “matter of hours” be speaking to his Israeli counterpart, the hardliner Gideon Saar, to try to persuade him that the conflict “cannot be resolved by military means”. He urged Israel and Hamas to extend the "phase one" of prisoner and hostage exchanges to the end of Ramadan, adding that he would also speak with the Palestinian Authority’s Prime Minister Mohammad Mustafa.
He also added that humanitarian aid “should never be used as a political tool and Israel must restart the aid immediately”. At one point after Mr Lammy was asked to account for the 400 people killed, more than 170 of them children, in recent strikes, an MP repeatedly shouted “babies” during his response.
The attack came from Brendan O’Hara, of the Scottish National Party, who stated that Israel understood after 17 months of war it could “act with impunity”, killing civilians in tents who were “mostly babies and toddlers”, knowing that there would be “absolutely no consequence”.
“Can the Foreign Secretary think of any other conflict where the UK accepted one of its closest allies designating babies and toddlers as legitimate targets?” he asked. Mr Lammy replied that there were “atrocities on both sides” and what was now required was “more light and less heat”, as Mr O’Hara repeatedly heckled him with the words “children” and “babies”.
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In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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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Founded: 2018
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Sector: Startups
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Where to apply
Applicants should send their completed applications - CV, covering letter, sample(s) of your work, letter of recommendation - to Nick March, Assistant Editor in Chief at The National and UAE programme administrator for the Rosalynn Carter Fellowships for Mental Health Journalism, by 5pm on April 30, 2020.
Please send applications to nmarch@thenational.ae and please mark the subject line as “Rosalynn Carter Fellowship for Mental Health Journalism (UAE programme application)”.
The local advisory board will consider all applications and will interview a short list of candidates in Abu Dhabi in June 2020. Successful candidates will be informed before July 30, 2020.
UAE currency: the story behind the money in your pockets
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Sector: Transport
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Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
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