A temporary Gaza ceasefire deal is close to being finalised in talks between US and Hamas officials in Qatar, sources have told The National.
They said the agreement will provide for a 21-day truce and the initial release by Hamas of up to six hostages, in return for a number of Palestinians held in Israeli jails. It also provides for the resumption of aid relief into the enclave, two months after Israel halted the flow of life-saving supplies.
An Israeli delegation made up of officials from the Mossad spy agency, domestic intelligence service Shin Bet and the military was due in Cairo on Monday. They will discuss logistics for the resumption of aid and the arrival in Egypt of Palestinian detainees travelling on to live in exile in other countries, the sources said.
Hamas, in a goodwill gesture towards the US, was due to release dual US-Israeli soldier Edan Alexander later on Monday, a move the sources described as indicative of the progress made in the Hamas-US talks.
The reported progress comes a day before US President Donald Trump travels to the Middle East on a three-nation tour that will take him to Saudi Arabia, Qatar and the UAE.
Mr Trump hailed the “monumental news” of Mr Alexander's release in a social media post, describing it as a “good faith gesture”.
“Hopefully this is the first of those final steps necessary to end this brutal conflict,” he added.
The sources said US mediators in Doha were considering demands by Hamas that the truce last for 70 days and that the Trump administration provide a written guarantee that negotiations for an end to the Gaza war and an Israeli withdrawal from the enclave would begin at a later stage.
“There has been considerable progress towards an agreement in direct negotiations between Hamas officials and US mediators led by Adam Boehler,” said one source, referring to the US envoy for hostage affairs.
“A deal may be announced within a day or a matter of hours,” they added.
Mr Boehler, who led the first known direct negotiations between the US and Hamas in March, is leading American mediators in the current talks in Doha, the sources said. The first meeting was on Sunday, when they held talks that lasted for more than three hours at a suburban hotel in the Qatari capital, they said.
Hamas is designated a terrorist group by the US, Israel and the EU. Israel insists it will not end the Gaza war before Hamas's military and governing capabilities are dismantled. For its part, Hamas has agreed to stay out of Gaza's postwar administration and reconstruction but it rejects Israel's demand that it lays down its arms.
Hamas, according to the sources, wanted seriously injured Palestinian civilians taken out of Gaza to receive treatment, as well as medical supplies for the group's wounded fighters and the remaining living hostages it is holding.
The Israeli military says Hamas is holding 59 hostages, of whom about 24 are believed to be still alive.
The Gaza war began in October 2023 after an attack by Hamas on southern Israel that killed 1,200. More than 52,800 Palestinians have been killed since then and more than twice that number wounded, health authorities in Gaza have said. Much of the enclave's built-up areas have been reduced to rubble in Israel's ground and aerial operations.
A 45-day truce brokered by the US, Egypt and Qatar ended on March 1, but Gaza remained relatively quiet until March 18 when Israel resumed military operations.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.
Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.
Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.
Personal motto: Believe it and you can achieve it.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
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- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10
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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.”
