This will be US Secretary of State Antony Blinken's eighth trip to the region since October 7. Reuters
This will be US Secretary of State Antony Blinken's eighth trip to the region since October 7. Reuters
This will be US Secretary of State Antony Blinken's eighth trip to the region since October 7. Reuters
This will be US Secretary of State Antony Blinken's eighth trip to the region since October 7. Reuters

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US

Blinken to push for ceasefire deal in coming trip to Middle East

US Secretary of State will visit Egypt, Israel, Jordan and Qatar in effort to secure ceasefire for hostage deal

Willy Lowry
Willy Lowry
Washington

June 07, 2024

  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

US Secretary of State Antony Blinken will travel to the Middle East next week in an effort to push through a ceasefire deal between Hamas and Israel.

Mr Blinken is expected to visit Egypt, Israel, Jordan and Qatar in what will be his eighth trip to the region since October 7, the State Department confirmed on Friday.

The latest diplomatic effort comes as hopes for a possible ceasefire deal, which President Joe Biden announced late last month, begin to fade.

“The Secretary will discuss with partners the need to reach a ceasefire agreement that secures the release of all hostages,” State Department spokesman Matthew Miller said.

“He will emphasise the importance of Hamas accepting the proposal on the table.”

On May 31, Mr Biden outlined for the first time a three-phase proposal that would see Hamas release hostages in exchange for a temporary ceasefire that could eventually lead to a full cessation of the bitter conflict.

More than 36,600 Palestinians have been killed in Gaza since Israel launched strikes and a ground offensive in the Palestinian enclave.

This followed the Hamas-led attacks on southern Israeli communities on October 7, in which 1,200 people were killed and about 250 abducted.

It has been by far the deadliest iteration of the decades-long conflict, and neither Israel nor Hamas have displayed an appetite to end it.

Mr Biden has said the proposal currently on the table “offers a concrete road map for ending the crisis”.

According to the US, Israel has signed off on the proposal, which is “nearly identical” to what Hamas asked for on May 6.

But leading members of Prime Minister Benjamin Netanyahu’s far-right cabinet have threatened to leave the fragile coalition if Israel accepts the latest deal.

Hamas, meanwhile, has yet to accept the terms, and the potential deal appears to be slipping away.

White House National Security spokesman John Kirby said on Friday that mediators are still waiting for an official response from Hamas, and that Mr Biden, who is currently on a visit to France, would discuss the issue with his counterpart Emmanuel Macron during their meeting on Saturday.

Earlier this week, CIA Director William Burns was in Doha and Mr Biden’s top Middle East adviser Brett McGurk was in Egypt in an effort to push the proposal through.

Mr Blinken appears to be the third spear in Mr Biden’s diplomatic trident.

In addition to efforts to secure a ceasefire, Mr Blinken is also expected to outline how the latest peace proposal has the potential to lead to an end of hostilities along the Israel-Lebanon border, where Israeli forces and Hezbollah militants have been engaged in tit-for-tat attacks for months.

“The Secretary will also continue to reiterate the need to prevent the conflict from escalating further,” Mr Miller said.

The trip comes before a planned visit by Mr Netanyahu to the US on July 24, during which the Israeli leader is expected to address a joint session of Congress.

Two hundred days of Israel-Gaza war – in pictures

  • Palestinians move with their belongings on a road lined with destroyed buildings, in Khan Younis, in the south of the Gaza Strip, on April 22. AFP
    Palestinians move with their belongings on a road lined with destroyed buildings, in Khan Younis, in the south of the Gaza Strip, on April 22. AFP
  • An infant saved from the womb of her mother Sabreen Al Sheikh, who was killed in an Israeli strike along with her husband Shokri and her daughter Malak, lies in an incubator at Al Emirati hospital in Rafah, on April 21. Reuters
    An infant saved from the womb of her mother Sabreen Al Sheikh, who was killed in an Israeli strike along with her husband Shokri and her daughter Malak, lies in an incubator at Al Emirati hospital in Rafah, on April 21. Reuters
  • A man rides a bicycle, on April 2, past a damaged vehicle where employees from the World Central Kitchen non-profit, including foreigners, were killed in an Israeli air strike. Reuters
    A man rides a bicycle, on April 2, past a damaged vehicle where employees from the World Central Kitchen non-profit, including foreigners, were killed in an Israeli air strike. Reuters
  • A woman at the damaged Al Shifa Hospital, on April 1, after Israeli forces withdrew from the medical complex following a two-week siege. Reuters
    A woman at the damaged Al Shifa Hospital, on April 1, after Israeli forces withdrew from the medical complex following a two-week siege. Reuters
  • The view from a Jordanian flight dropping vital aid by parachute into Gaza, in March. Matthew Kynaston / The National
    The view from a Jordanian flight dropping vital aid by parachute into Gaza, in March. Matthew Kynaston / The National
  • Nozha Awad flees Al Shifa hospital with her triplet children, after an Israeli raid siege began at the medical complex, in March. Reuters
    Nozha Awad flees Al Shifa hospital with her triplet children, after an Israeli raid siege began at the medical complex, in March. Reuters
  • Palestinians gather to receive aid outside a UNRWA warehouse, in March. Reuters
    Palestinians gather to receive aid outside a UNRWA warehouse, in March. Reuters
  • A family end their fast amid the rubble of their destroyed home, during Ramadan in Rafah, in March. Reuters
    A family end their fast amid the rubble of their destroyed home, during Ramadan in Rafah, in March. Reuters
  • Wafaa Tabasi with her twin malnourished daughters, at Al Awda health centre in Rafah, in March. Reuters
    Wafaa Tabasi with her twin malnourished daughters, at Al Awda health centre in Rafah, in March. Reuters
  • Palestinians carry bags of flour taken from an aid lorry near an Israeli checkpoint in Gaza City, in February. Reuters
    Palestinians carry bags of flour taken from an aid lorry near an Israeli checkpoint in Gaza City, in February. Reuters
  • Fernando Simon Marman and Louis Hare, two Israeli hostages who, according to the Israeli military, were freed in a special forces operation in Rafah, reunite with loved ones at Sheba Medical Centre, in Ramat Gan, Israel, in February. Reuters
    Fernando Simon Marman and Louis Hare, two Israeli hostages who, according to the Israeli military, were freed in a special forces operation in Rafah, reunite with loved ones at Sheba Medical Centre, in Ramat Gan, Israel, in February. Reuters
  • Palestinian Muhammad Al Durra with his children in the ruins of a house in Rafah where they sheltered on January 11, 2024. EPA
    Palestinian Muhammad Al Durra with his children in the ruins of a house in Rafah where they sheltered on January 11, 2024. EPA
  • Family and friends at the funerals of journalists Hamza Al Dahdouh and Mustafa Thuraya on January 7, 2024 in Rafah, Gaza. Getty Images
    Family and friends at the funerals of journalists Hamza Al Dahdouh and Mustafa Thuraya on January 7, 2024 in Rafah, Gaza. Getty Images
  • Palestinians mourn relatives killed by Israeli bombardment of the Gaza Strip outside a mortuary in Khan Younis January 4, 2024. AP Photo
    Palestinians mourn relatives killed by Israeli bombardment of the Gaza Strip outside a mortuary in Khan Younis January 4, 2024. AP Photo
  • Displaced Palestinians queue to bake bread at a camp in the Muwasi area of Rafah, Gaza Strip, on December 23, 2023. AP Photo
    Displaced Palestinians queue to bake bread at a camp in the Muwasi area of Rafah, Gaza Strip, on December 23, 2023. AP Photo
  • Palestinians queue for food in Rafah, the Gaza Strip, on December 20, 2023. AP Photo
    Palestinians queue for food in Rafah, the Gaza Strip, on December 20, 2023. AP Photo
  • The ruins of Rafah on December 14, 2023. AFP
    The ruins of Rafah on December 14, 2023. AFP
  • Palestinians wounded in the Israeli bombardment of the Gaza Strip arrive at a hospital in Khan Younis on December 8, 2023. AP Photo
    Palestinians wounded in the Israeli bombardment of the Gaza Strip arrive at a hospital in Khan Younis on December 8, 2023. AP Photo
  • Palestinians flee Israeli bombing along the Salaheddine Road in the Zeitoun district of Gaza city on November 28, 2023. AFP
    Palestinians flee Israeli bombing along the Salaheddine Road in the Zeitoun district of Gaza city on November 28, 2023. AFP
  • A Red Cross vehicle takes Israeli hostages from the Gaza Strip into Egypt in Rafah on November 25, 2023. AP
    A Red Cross vehicle takes Israeli hostages from the Gaza Strip into Egypt in Rafah on November 25, 2023. AP
  • The ruins of buildings in Gaza city on November 24, 2023, as a temporary truce between Israel and Hamas took effect. AP Photo
    The ruins of buildings in Gaza city on November 24, 2023, as a temporary truce between Israel and Hamas took effect. AP Photo
  • A woman and her cat return home to eastern Khan Younis in the southern Gaza Strip during the first hours of a four-day truce between Israel and Hamas forces on November 24, 2023. AFP
    A woman and her cat return home to eastern Khan Younis in the southern Gaza Strip during the first hours of a four-day truce between Israel and Hamas forces on November 24, 2023. AFP
  • Mourning the dead of Israeli bombardment outside the mortuary at Nasser Hospital in Khan Younis on November 14, 2023. AFP
    Mourning the dead of Israeli bombardment outside the mortuary at Nasser Hospital in Khan Younis on November 14, 2023. AFP
  • Civilians and rescuers look for survivors in the rubble of a building after Israeli bombing of Khan Younis in the southern Gaza Strip on November 12, 2023. AFP
    Civilians and rescuers look for survivors in the rubble of a building after Israeli bombing of Khan Younis in the southern Gaza Strip on November 12, 2023. AFP
  • November 7, 2023, a month to the day after Hamas attacked Israel, a victim of an Israeli bombardment in Rafah is moved from the rubble. AFP
    November 7, 2023, a month to the day after Hamas attacked Israel, a victim of an Israeli bombardment in Rafah is moved from the rubble. AFP
  • Searching the rubble after Israeli air strikes on the town of Khan Younis, southern Gaza Strip, on October 26, 2023. AP Photo
    Searching the rubble after Israeli air strikes on the town of Khan Younis, southern Gaza Strip, on October 26, 2023. AP Photo
  • Mourning the Kotz family at their funeral in Gan Yavne, Israel, on October 17, 2023. AP Photo
    Mourning the Kotz family at their funeral in Gan Yavne, Israel, on October 17, 2023. AP Photo
  • An Israeli firefighter composes himself after he and his colleagues extinguished cars set on fire by a rocket fired from the Gaza Strip in Ashkelon, Israel, on October 9, 2023. AP Photo
    An Israeli firefighter composes himself after he and his colleagues extinguished cars set on fire by a rocket fired from the Gaza Strip in Ashkelon, Israel, on October 9, 2023. AP Photo
  • Palestinians with the wreckage of an Israeli tank at the Gaza Strip fence east of the city of Khan Younis on October 7, 2023, the day Hamas forces swept unopposed into Israel. AP Photo
    Palestinians with the wreckage of an Israeli tank at the Gaza Strip fence east of the city of Khan Younis on October 7, 2023, the day Hamas forces swept unopposed into Israel. AP Photo
  • Israeli police officers evacuate a woman and a child from a site hit by a rocket fired from the Gaza Strip, in Ashkelon, southern Israel, on October 7, 2023. AP Photo
    Israeli police officers evacuate a woman and a child from a site hit by a rocket fired from the Gaza Strip, in Ashkelon, southern Israel, on October 7, 2023. AP Photo
Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

While you're here
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

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Rock in a Hard Place: Music and Mayhem in the Middle East
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How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
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6025 – Dh20
6027 – Dh 100
6026 – Dh 200

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

FIGHT CARD

Sara El Bakkali v Anisha Kadka (Lightweight, female)
Mohammed Adil Al Debi v Moaz Abdelgawad (Bantamweight)
Amir Boureslan v Mahmoud Zanouny (Welterweight)
Abrorbek Madaminbekov v Mohammed Al Katheeri (Featherweight)
Ibrahem Bilal v Emad Arafa (Super featherweight)
Ahmed Abdolaziz v Imad Essassi (Middleweight)
Milena Martinou v Ilham Bourakkadi (Bantamweight, female)
Noureddine El Agouti v Mohamed Mardi (Welterweight)
Nabil Ouach v Ymad Atrous (Middleweight)
Nouredin Samir v Zainalabid Dadachev (Lightweight)
Marlon Ribeiro v Mehdi Oubahammou (Welterweight)
Brad Stanton v Mohamed El Boukhari (Super welterweight

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.”

$1,000 award for 1,000 days on madrasa portal

Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.

School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.

“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.  

“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”

World Mental Health Day
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'The Woman in the House Across the Street from the Girl in the Window'

Director:Michael Lehmann

Stars:Kristen Bell

Rating: 1/5

DUBAI SEVENS 2018 DRAW

Gulf Men’s League
Pool A – Dubai Exiles, Dubai Hurricanes, Bahrain, Dubai Sports City Eagles
Pool B – Jebel Ali Dragons, Abu Dhabi Saracens, Abu Dhabi Harlequins, Al Ain Amblers

Gulf Men’s Open
Pool A – Bahrain Firbolgs, Arabian Knights, Yalla Rugby, Muscat
Pool B – Amman Citadel, APB Dubai Sharks, Jebel Ali Dragons 2, Saudi Rugby
Pool C – Abu Dhabi Harlequins 2, Roberts Construction, Dubai Exiles 2
Pool D – Dubai Tigers, UAE Shaheen, Sharjah Wanderers, Amman Citadel 2

Gulf U19 Boys
Pool A – Deira International School, Dubai Hurricanes, British School Al Khubairat, Jumeirah English Speaking School B
Pool B – Dubai English Speaking College 2, Jumeirah College, Dubai College A, Abu Dhabi Harlequins 2
Pool C – Bahrain Colts, Al Yasmina School, DESC, DC B
Pool D – Al Ain Amblers, Repton Royals, Dubai Exiles, Gems World Academy Dubai
Pool E – JESS A, Abu Dhabi Sharks, Abu Dhabi Harlequins 1, EC

Gulf Women
Pool A – Kuwait Scorpions, Black Ruggers, Dubai Sports City Eagles, Dubai Hurricanes 2
Pool B – Emirates Firebirds, Sharjah Wanderers, RAK Rides, Beirut Aconites
Pool C – Dubai Hurricanes, Emirates Firebirds 2, Abu Dhabi Saracens, Transforma Panthers
Pool D – AUC Wolves, Dubai Hawks, Abu Dhabi Harlequins, Al Ain Amblers

Gulf U19 Girls
Pool A – Dubai Exiles, BSAK, DESC, Al Maha
Pool B – Arabian Knights, Dubai Hurricanes, Al Ain Amblers, Abu Dhabi Harlequins

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Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)

Uefa Women's Player of the Year: Lucy Bronze (Lyon)

Best players of the 2018/19 Uefa Champions League

Goalkeeper: Alisson (Liverpool)

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Updated: June 07, 2024, 7:09 PM
Antony BlinkenJoe BidenHamas