The worst-case scenario of famine is rapidly unfolding in Gaza, a global hunger monitor warned on Tuesday as the Palestinian death toll from Israel's war in the territory crossed 60,000.
The Integrated Food Security Phase Classification (IPC) issued an alert over the rise in hunger-related deaths in the enclave, saying that access to food and other essentials has plummeted to unprecedented low levels.
“Famine thresholds have been reached for food consumption in most of the Gaza Strip,” the IPC said in a report. “Immediate action must be taken to allow for unimpeded, large-scale, life-saving humanitarian response. This is the only path to stopping further deaths and catastrophic human suffering,” it added.
The IPC's alert over the dire situation in Gaza has been echoed by other humanitarian organisations. On Tuesday, David Miliband, president of the International Rescue Committee (IRC), issued a “stark warning” over deteriorating conditions in the strip.
“The images, testimonies, and statistics from Gaza leave no room for doubt … what we are witnessing is a man-made catastrophe unfolding in real time,” wrote Mr Miliband in a statement. “Children in Gaza are not just hungry; they are starving to death … In the coming days, thousands of Gaza’s children will either be rescued – or allowed to die. That is the choice before us,” he continued.
The UN's World Food Programme (WFP) also warned on Tuesday that the disaster unfolding in Gaza was “unlike anything we have seen in this century”. Faced with mounting international alarm over the situation, Israel said at the weekend its military would observe “tactical pauses” to allow the delivery of food to Gaza. However, the WFP says none of the supplies entering Gaza reached the agency's warehouses, from where they are sent out for distribution.
“We have not had any trucks make it to the warehouse on July 27; yesterday – July 28 – nothing went through,” a WFP official told The National. “All trucks that went out on July 27 were offloaded en route. We believe it is hungry civilians [who are] desperate and do not trust the system and that they will be able to get anything through distributions.”
On Monday, the US President Donald Trump admitted for the first time that children in Gaza are suffering “real starvation”, amid mounting international criticism of Israel's actions in the strip. “That’s real starvation stuff, I see it, and you can’t fake that,” Mr Trump said. “We have to get the kids fed.”
His statement came after Israeli Prime Minister Benjamin Netanyahu denied that starvation is happening in the Palestinian territory. “There is no policy of starvation in Gaza and there is no starvation in Gaza,” he claimed in a speech.
The IPC defines famine as a situation in which “at least one in five households have an extreme lack of food and face starvation and destitution, resulting in extremely critical levels of acute malnutrition and death”. Its assessments are a critical tool used by the international community to identify and tackle famine conditions worldwide.
In an analysis published in May, the IPC had projected that the entire population of the Gaza Strip would face high levels of acute food insecurity by September, including half a million people facing catastrophe levels, characterised by an extreme lack of food, starvation, destitution and death. A risk of famine was detected in all areas of the Gaza Strip.
Since then, Israeli aerial bombardment and ground operations have intensified, making people’s access to food across Gaza “alarmingly erratic and extremely perilous”, the IPC said. Between May and July, the proportion of households experiencing extreme hunger has doubled. One in three people have been going without food for days at a time, it said in its report.
More than 3,000 children are severely malnourished in Gaza. Hospitals have reported a rapid increase in hunger-related deaths of children under five years old, with at least 16 reported deaths since July 17, according to IPC figures.
The hunger watchdog has also criticised the food distribution mechanism of the US and Israel-backed Gaza Humanitarian Foundation (GHF). It said distribution sites are located in militarised zones where less than a quarter of the population is located, forcing Palestinians to embark on long, high-risk journeys to collect food items that are not ready to eat and require water and fuel to cook, which are largely unavailable.
Since late May, more than 1,000 people have been killed while trying to access food in Gaza, the majority of them near GHF aid sites, according to the IPC and UN figures.
Israel says it is committed to allowing in aid but says it must control it to prevent it from being stolen by the Palestinian militant group Hamas, as a justification for launching the GHF's operations. An internal US government analysis found no evidence of systematic theft by Hamas of US-provided humanitarian supplies, challenging Israel's claims.
Israel has vowed to continue its military campaign until Hamas's military and governing capabilities in Gaza are destroyed. Israeli attacks have killed at least 60,034 Palestinians since the war began on October 7, 2023, Gaza's health ministry said in its latest update on Tuesday. The number of people injured reached 145,870, it said.
On Sunday, Israel declared a "tactical” pause in military operations in parts of Gaza and promised to open secure routes for aid. It claimed that more than 120 lorryloads of food aid were distributed by the UN and aid agencies in Gaza. However, UN agencies did not confirm the amount of aid, while residents reported supplies being taken from lorries before they reached warehouses.
The International Rescue Committee has warned that limited “tactical pauses”, air drops and other symbolic gestures are “dangerously inadequate in the face of Gaza’s accelerating hunger crisis”.
“With child deaths from malnutrition surging and famine conditions prevalent, to be meaningful, any halt in fighting must end Israel’s near-total blockade and allow sustained, large-scale aid and commercial supplies through safe land routes. Fuel, food, clean water and electricity must reach all areas of Gaza – brief pauses won’t cut it,” the IRC said.
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.”
The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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Roger Federer's 2018 record
Australian Open Champion
Rotterdam Champion
Indian Wells Runner-up
Miami Second round
Stuttgart Champion
Halle Runner-up
Wimbledon Quarter-finals
Cincinnati Runner-up
US Open Fourth round
Shanghai Semi-finals
Basel Champion
Paris Masters Semi-finals
The specs: 2017 Dodge Viper SRT
Price, base / as tested Dh460,000
Engine 8.4L V10
Transmission Six-speed manual
Power 645hp @ 6,200rpm
Torque 813Nm @ 5,000rpm
Fuel economy, combined 16.8L / 100km
Tour de France
When: July 7-29
UAE Team Emirates:
Dan Martin, Alexander Kristoff, Darwin Atapuma, Marco Marcato, Kristijan Durasek, Oliviero Troia, Roberto Ferrari and Rory Sutherland
THE%20SPECS
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The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
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COMPANY%20PROFILE
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Mohammed bin Zayed Majlis
Vikram%20Vedha
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Gayatri%2C%20Pushkar%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Hrithik%20Roshan%2C%20Saif%20Ali%20Khan%2C%20Radhika%20Apte%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%C2%A0%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
UAE currency: the story behind the money in your pockets
INDIA SQUADS
India squad for third Test against Sri Lanka
Virat Kohli (capt), Murali Vijay, Lokesh Rahul, Shikhar Dhawan, Cheteshwar Pujara, Ajinkya Rahane, Rohit Sharma, Wriddhiman Saha, Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Vijay Shankar
India squad for ODI series against Sri Lanka
Rohit Sharma (capt), Shikhar Dhawan, Ajinkya Rahane, Shreyas Iyer, Manish Pandey, Kedar Jadhav, Dinesh Karthik, Mahendra Singh Dhoni, Hardik Pandya, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Jasprit Bumrah, Bhuvneshwar Kumar, Siddarth Kaul
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5