Israel is grappling with fresh tensions in the occupied West Bank after a wave of arrests in Hebron and riots by Israeli settlers against the military that have revealed split loyalties in the far-right government.
Israel’s internal security agency, the Shin Bet, said it had arrested more than 60 Hamas operatives over the past three months with the help of the police and military. The series of operations announced on Sunday is one of the most intense in years against Hamas in the West Bank.
A statement from the agency said the arrests hit “large-scale Hamas infrastructure” in Hebron in an operation it described as the most complex it has undertaken in a decade. It added that the cell was working “to carry out shooting and bombing attacks against Israeli targets”, and that forces also uncovered weapons caches.
The operation in Hebron raises fears about the possible expansion of Israel’s unprecedented campaign in the north of the occupied West Bank, which has seen it occupy, destroy and evict the populations of refugee camps in cities such as Tulkarem and Jenin.
Like those areas, Hebron has a history of Palestinian militancy, including during the Second Intifada in the early 2000s. This city has, however, experienced less Israeli military activity since the Gaza war began, in comparison to northern areas.
News of the wave of arrests came as settlers launched a series of attacks against Israeli soldiers. In the latest incident, an army installation in the West Bank was torched, causing millions of shekels' worth of damage. Hundreds of settlers rioted at the same time, with some holding signs calling a battalion commander a "traitor" after warning shots were fired to disperse settlers during a previous incident.
The clashes sparked condemnation across Israeli politics, including in the far-right governing coalition that itself contains many extremist settlers. Prime Minister Benjamin Netanyahu said “no civilised country can tolerate” the vandalism that took place and that “whoever commits such acts undermines the rule of law and harms the country”.
He nonetheless praised the wider settler movement, calling it an “example and role model for the development of the country”. Far-right Finance Minister Bezalel Smotrich said the violence crossed a “red line” and that the “beautiful face” of the settlement project had “no connection whatsoever to the type of incidents that were reported this morning”.
Mr Smotrich was widely criticised for taking the side of settlers after the earlier clash with Israeli soldiers in which the battalion commander fired warning shots. A 14-year-old Israeli in the area was taken to hospital with a bullet wound. The Israeli military has not confirmed whether the bullet came from its forces.
In the aftermath of the incident, Mr Smotrich posted on X that “live fire against Jews is a forbidden and dangerous crossing of a red line which requires an in-depth investigation”.
The clash took place in the village of Kafr Malik, near the Palestinian capital, Ramallah, which has been the scene of an increased rate of settler attacks against Palestinians in recent weeks. On Wednesday, three Palestinians were killed by Israeli gunfire in the village.
There has been a major acceleration in the rate of settler attacks against Palestinian communities, with attacks on people, property and livestock since the Gaza war began. Israeli politicians rarely condemn the attacks and perpetrators are almost never brought to justice.
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Company%20profile
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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.”
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Napoleon
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UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.