Live updates: Follow the latest on Israel-Gaza
An all-out assault on Rafah will not help Israel destroy Hamas in Gaza, the White House said on Thursday, as Republicans suggested President Joe Biden should be impeached for withholding bombs from its ally.
Mr Biden for the first time threatened to withhold US weapons from Israel on Wednesday, after pausing a transfer in response to Israel's invasion of Rafah that is unfolding before the Biden administration is convinced Israel has done enough to protect the more than one million displaced civilians sheltering there.
White House National Security Council spokesman John Kirby said that Mr Biden shares Israel's goal of defeating Hamas, but “smashing into Rafah, in his view, will not advance that objective of a sustainable, enduring defeat” of the militant group.
“If Israel proceeds with a major ground or mission in Rafah, we will not provide certain categories of weapons to support such an operation – the Israeli government has understood this for some time now,” Mr Kirby told reporters.
“If they go into Rafah in a big way, [Mr Biden] will make other decisions about the kind of support that we are providing Israel. We hope it doesn't come to that.”
It is the Biden administration's most direct language against Israel's conduct yet, after seven months of war that have killed more than 34,900 Palestinians, according to Gaza health authorities, and prompted a genocide investigation at the International Court of Justice.
The far-right Israeli government – and fellow conservatives in Washington's pro-Israel Congress – are livid.
Israel's right-wing National Security Minister tweeted in response to Mr Biden that “Hamas [loves] Biden”.
Republicans in the US Senate continued their campaign against the pause, voicing concerns over a potential indefinite block on weapons transfers.
Senator Tom Cotton, a far-right Republican who has threatened to sanction the International Criminal Court over its actions against Israeli officials, suggested that the decision to withhold ammunition from the US ally was an impeachable offence.
“Some people say Joe Biden is doing this for his re-election, which would be bad enough,” Mr Cotton told reporters.
“It would also, I have to add, be grounds for impeachment, under the Democrats' Trump-Ukraine standard, withholding foreign aid to help one's re-election – only with Joe Biden, it's true.”
Former president Donald Trump was impeached over allegedly threatening to hold aid to Ukraine hostage until Kyiv divulged compromising information about the Biden family.
Later on Thursday, Representative Cory Mills said in a post on X that he had submitted documents to House counsel that would charge Mr Biden with “abuse of power".
Mr Mills said he had used "verbatim" language used by Democrats to impeach Mr Trump for "quid pro quo" in withholding military aid to Israel in exchange for a change in military policy.
Senator Susan Collins, a more centrist Republican, charged that the “unilateral” decision by the administration was in defiance of Congress, which recently passed billions more in funding for the Israeli military.
And Representative Mike McCaul, chairman of the House Foreign Affairs Committee, issued a statement calling the decision to withhold arms “a dangerous mistake”.
“This shortsighted move will call into question US reliability around the world,” he said.
Ilan Berman, senior vice president at the American Foreign Policy Council, a conservative think tank in Washington, said the decision to delay a weapons shipment to Israel might see it keep more bombs in reserve, especially given tension along the Lebanese border.
“They have one eye on that northern front, the fight that everybody I talked to there is now convinced will come sooner or later with Hezbollah,” Mr Berman told The National.
“They're keeping weapons and munitions in reserve, because they anticipate that they're going to be fighting a northern front.”
Meanwhile, a growing number of members of Mr Biden's Democratic Party have raised concerns about how US assistance is being used in the Gaza war.
Under legislation known as the Leahy Law, US assistance to foreign security forces is prohibited when there is credible information that a unit has committed a “gross violation of human rights”.
Washington gives Israel more than $3.3 billion in military financing every year, and that aid is subject to those regulations. But assistance to Israel has rarely faced this – albeit relatively small – degree of scrutiny from US officials.
Arms sales are not subject to the Leahy Law because they are considered to be commercial transactions, not assistance.
Mr Berman suggested that Mr Biden, who is a self-described Zionist, acted partly out of self-interest by delaying the weapons shipment.
"All politics is local," he said.
"This is ultimately a political decision because I think the President is at pains to try to square the circle. He is very pro-Israel, in terms of his policy, but he's cognisant of the electoral process."
Thomas Watkins contributed to this report
Civilians ordered to flee eastern Rafah as Israel begins invasion - in pictures
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.”
Fixtures
Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am
Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am
Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am
Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight
Charlotte Gainsbourg
Rest
(Because Music)
JOKE'S%20ON%20YOU
%3Cp%3EGoogle%20wasn't%20new%20to%20busting%20out%20April%20Fool's%20jokes%3A%20before%20the%20Gmail%20%22prank%22%2C%20it%20tricked%20users%20with%20%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fmentalplex%2F%22%20target%3D%22_blank%22%3Emind-reading%20MentalPlex%20responses%3C%2Fa%3E%20and%20said%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fpigeonrank%2F%22%20target%3D%22_blank%22%3E%20well-fed%20pigeons%20were%20running%20its%20search%20engine%20operations%3C%2Fa%3E%20.%3C%2Fp%3E%0A%3Cp%3EIn%20subsequent%20years%2C%20they%20announced%20home%20internet%20services%20through%20your%20toilet%20with%20its%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Ftisp%2Finstall.html%22%20target%3D%22_blank%22%3Epatented%20GFlush%20system%3C%2Fa%3E%22%2C%20made%20us%20believe%20the%20Moon's%20surface%20was%20made%20of%20cheese%20and%20unveiled%20a%20dating%20service%20in%20which%20they%20called%20founders%20Sergey%20Brin%20and%20Larry%20Page%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fromance%2Fpress.html%22%20target%3D%22_blank%22%3EStanford%20PhD%20wannabes%3C%2Fa%3E%20%22.%3C%2Fp%3E%0A%3Cp%3EBut%20Gmail%20was%20all%20too%20real%2C%20purportedly%20inspired%20by%20one%20%E2%80%93%20a%20single%20%E2%80%93%20Google%20user%20complaining%20about%20the%20%22poor%20quality%20of%20existing%20email%20services%22%20and%20born%20%22%3Ca%20href%3D%22https%3A%2F%2Fgooglepress.blogspot.com%2F2004%2F04%2Fgoogle-gets-message-launches-gmail.html%22%20target%3D%22_blank%22%3Emillions%20of%20M%26amp%3BMs%20later%3C%2Fa%3E%22.%3C%2Fp%3E%0A
HWJN
%3Cp%3EDirector%3A%20Yasir%20Alyasiri%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Baraa%20Alem%2C%20Nour%20Alkhadra%2C%20Alanoud%20Saud%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
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
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills