After two years of war and a string of assassinations that eliminated most of its leaders, Hamas now looks like a group in survival mode, facing uncertainty.
Moreover, according to sources who deal directly with Hamas leaders, the militant group appears to be in disarray. The chain of command within its military wing is close to non-existent, and communication between its leaders in Gaza and fighters in the tunnels on the one hand and with negotiators in exile abroad on the other is difficult and infrequent.
Hamas has lost significant support among Gaza's estimated two million residents after the humanitarian crisis in the enclave bit, with hundreds of thousands going hungry and famine claiming scores of lives, the sources told The National.
“Hamas is at its weakest ever,” said one of the sources. “The only bargaining chip it now has is the hostages. Militarily, only a negligible number of active fighters are left in the field.”
Hamas has said it has no intention of surrendering its weapons as demanded by the plan put forward by US President Donald Trump to end the Gaza war, but its approval might point to a different approach.
On Friday, it said it welcomed the 20-point plan but it wanted clarifications on some of its points, like Israel's withdrawal, postwar governance and the mandate of a proposed international force to police the enclave.
“The alternative perspective is that Hamas couldn’t care less about further devastation and death in Gaza,” said former Israeli diplomat Alon Pinkas. “For them, giving up the hostages is surrendering the one asset they have. They don’t mind drawing Israel into a complete quagmire, call it Vietnam, south Lebanon or Afghanistan.”
Nimrod Novik, a former senior adviser to Israel's late prime minister Shimon Peres, says he believes Hamas's disarmament “is not impossible”.
Disarming Hamas
To Mr Novik, now a fellow at the New York-based Israel Policy Forum, the issue with Hamas's disarmament might seem semantic to outsiders but it is of great weight for the group. It does not want the plan framed as “disarming Hamas” but rather as the movement “laying down” its arms, he told The National.
“The distinction suggests that it is not imposed by third parties … but rather something Hamas volunteers to do for the betterment of the Palestinian population and in the service of its national interest.”
The pressure has been piling on Hamas since Arab nations gave Mr Trump's plan a cautious welcome, with many of them saying they see it as a road map that could be followed rather than a destination.
For example, Egypt, which together with Turkey and Qatar maintain close links to Hamas, said a great deal of discussion and negotiations are required before Mr Trump's road map can take effect. However, all three agree that Hamas has no place in postwar Gaza.
The group has already signalled its readiness to become a political faction, staying away from governance or reconstruction in postwar Gaza, and for its leaders to leave the enclave and live in exile on condition that they are not assassinated by Israel.
It's all a far cry from the Hamas that on the eve of the Gaza war was a powerful member of an Iranian-backed militant axis that included Lebanon's Hezbollah, Iraqi and Syrian militias and the Houthis in Yemen.
But Hamas's likely demise as an armed resistance group, according to the sources, may not be complete.
French President Emmanuel Macron told Mr Trump last month that Hamas has the same number of fighters it had when the war started. He did not elaborate or say where the information came from, but there have been reports of the group's energetic recruitment during the war.
Infrequent, ineffective
However, available evidence suggests that these figures may be correct on paper only, with many of them inactive or new recruits who are too inexperienced to be thrown into combat.
Hamas fighters continued to attack Israeli troops in Gaza and occasionally unleashed rockets on Israel, but both are infrequent, ineffective in the case of the rockets, and largely symbolic when viewed in the war's wider context.
The sources said small cells of three to four young though active members of Hamas's current fighting force have been quickly forming in Gaza. Many of them are preparing themselves for suicide missions that would not turn the tide of the war but constitute an irritant to Israel's military.
“The ones who are still in the fight are by far the most dangerous Hamas has seen in years,” said another source. “Each cell is electing its own leader and there's barely any contact between the cells.”
The sources, however, point out that Hamas's diminished combat capabilities are compounded by the group's poor communications, a problem that has steadily worsened with Israel killing so many of its leaders over the past two years.
They said the hierarchy of the group's military wing has all but collapsed. It takes days for leaders of the group inside Gaza to reach those living in exile in Qatar or in Turkey.
The group's concern with the safety of its leaders and worry that mobile phones could be tracked by Israel began when Hamas's political leader and chief negotiator, Ismail Haniyeh, was assassinated in Tehran. Last month, the group's leaders in Doha were bombed by Israel. They are believed to have survived the attack, but several of them were wounded.
The sources said none of Hamas's senior operatives in exile or inside Gaza are now carrying mobile phones or any electronic devices, preferring to use handwritten notes delivered by aides situated a safe distance away and using secure phone lines.
Additional reporting by Thomas Helm from Jerusalem
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
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.”
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
UAE currency: the story behind the money in your pockets
VERSTAPPEN'S FIRSTS
Youngest F1 driver (17 years 3 days Japan 2014)
Youngest driver to start an F1 race (17 years 166 days – Australia 2015)
Youngest F1 driver to score points (17 years 180 days - Malaysia 2015)
Youngest driver to lead an F1 race (18 years 228 days – Spain 2016)
Youngest driver to set an F1 fastest lap (19 years 44 days – Brazil 2016)
Youngest on F1 podium finish (18 years 228 days – Spain 2016)
Youngest F1 winner (18 years 228 days – Spain 2016)
Youngest multiple F1 race winner (Mexico 2017/18)
Youngest F1 driver to win the same race (Mexico 2017/18)
If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
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
more from Janine di Giovanni
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
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The five pillars of Islam
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On racial profiling at airports
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE