Live updates: Follow the latest on Israel-Gaza
Thursday marked a week since students at Columbia University in New York started a protest camp over the Gaza war and demands for the school to divest from companies connected to Israel's action in the Palestinian territories.
Leila Obeid, a Jordanian-American student at Barnard College, said she has been at the Columbia camp since last Wednesday and will not leave until the university meets the protesters' demands.
“We have negotiations going on with the university, with the administration, but we know that they're not in good faith," Ms Obeid said.
"And they continue to put their students at risk and continue to reprimand their students who are just here to advocate to stop sending weapons to murder Palestinians in Gaza."
The university's order to have police clear the first protest tents and arrest more than 100 people last week has inspired other schools across the US and around the world to open their own camps.
Activist Jill Stein, the Green Party's presidential candidate for this year's election, visited the Columbia camp on Thursday.
Speaking to The National, Ms Stein accused US President Joe Biden of handing “off the baton for commander-in-chief” to Israeli Prime Minister Benjamin Netanyahu.
“He basically passed it to Netanyahu and said, 'Do what you like and we will fund you. We will not draw any red lines. We will be here to apologise for you',” she said.
“This is essentially like handing off the responsibilities … to the incredibly reckless and endangering criminal government of Israel.”
The protests that have caused upheaval at so many colleges and universities across the US made their way to the nation’s capital on Thursday, with hundreds of students demonstrating in support of Palestine at George Washington University.
In the early hours, students set up protest tents on the school’s central lawn, a few blocks away from the State Department.
By midday, about 30 tents had been erected and students were chanting in support of Palestine.
“Intifada, revolution, there is only one solution and it's free, free Palestine,” the crowd chanted as many waved flags and held posters denouncing Israel’s military campaign in Gaza.
Students have called for their universities to back a ceasefire in Gaza and divest from companies with ties to Israel.
“We’re protesting apartheid and our demands are divestment,” one student, Josh, told The National.
The third-year student said he was not worried about being arrested or expelled like students at other schools.
“They can’t arrest all of us and they’re not going to,” he said. “It's happening nationwide across multiple universities.”
Eric Hirshfield, a former student of the university, told The National that he had stopped by to see what was happening.
Pro-Palestine protests at US universities – in pictures
Mr Hirshfield, who wore a yarmulke and said he was pro-Israel and pro-Palestine, called the protesters “mostly peaceful”.
“I don’t feel uncomfortable,” he said.
“This is America [and you have the] right to protest as long as you don’t infringe upon the rights of others, and they’re not – they’re actually being good. They let me pass.”
Mikkel Rockman, a third-year student at Columbia who served in the Israeli army, told The National that protesters only talk about Palestinian suffering by making Jews and Israel out to be the enemy, but “what that does is it causes more violent rhetoric”.
“They've kind of turned the word 'Zionist' into an insult," Mr Rockman said.
"They've dehumanised us in a way that if you support Israel, and you don't support what they're doing, then you shouldn't be talked to … everything you say is a lie."
The State Department, which has been dealing with staff resignations over the conflict, said Mr Biden's administration is intent on pursuing what is in the “best interest” for the country.
“Of course, we see what is happening there,” State Department deputy spokesman Vedant Patel said.
“But we're also not naive to the fact that, when it comes to any of the foreign policy that we pursue, 100 per cent of the population is not going to agree with what we're trying to accomplish.
“We are clear-eyed in the fact that what we're trying to pursue is in the best interest for the American people and is in the best interest of the national security of the American people.”
In New York, Columbia students faced a looming deadline to negotiate with administrators on how to dismantle their camp.
Sueda Polat, who is part of the student negotiations team at the university, told The National that they refuse to engage in discussions with the university if facing threats of militarised violence.
“I will say that the university students who are here have demonstrated an incredible will and an incredible resolve and resilience to be in this space,” she said.
“And I will say that they're committed to remaining in this space until the demands are met through the negotiations process.”
Protests continue at Columbia University after pro-Palestine camp arrests – video
There have been calls nationally, including by House Speaker Mike Johnson on a Wednesday campus visit, for the National Guard to be sent in.
The university has denied it ever threatened to request the National Guard's presence.
Overnight, there were mass arrests reported at pro-Palestine camps and protest gatherings at three US schools.
More than 90 people were arrested at the University of Southern California, Los Angeles, and the campus was closed after the protest.
The USC has faced backlash over a decision not to allow Muslim valedictorian Asna Tabassum to speak at her commencement.
The university also on Thursday announced that it would not hold its main commencement event, instead choosing to host smaller ceremonies at individual schools.
Almost 100 people were taken into police custody at Emerson College in central Boston, while more than 50 were arrested at the University of Texas in Austin.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
COMPANY%20PROFILE
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Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
MATCH INFO
Euro 2020 qualifier
Fixture: Liechtenstein v Italy, Tuesday, 10.45pm (UAE)
TV: Match is shown on BeIN Sports
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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Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
- Max Dowman (Arsenal)
15 years, 235 days old
- Jeremy Monga (Leicester)
15 years, 271 days old
- Harvey Elliott (Fulham)
16 years, 30 days old
- Matthew Briggs (Fulham)
16 years, 68 days old
Last-16 Europa League fixtures
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm