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The war in Gaza has become a major focus at the Democratic National Convention, where protesters and activists inside and outside the event have demanded an end to US support for Israel.
President Joe Biden's continued backing of Israel during the conflict has angered many in the US, and Democratic nominee Kamala Harris has inherited his political liability.
The "uncommitted" voter movement, which urged Democrats during the primaries to use their ballots to protest against the Biden administration's Gaza policy, said on Tuesday that it has updated its strategy now that there has been a change in the Democratic ticket.
“But fundamentally, we do not want to wait until January 21 [after inauguration day] before the mass killing stops,” Abbas Alawieh, one of the leaders of the movement, told reporters at the DNC in Chicago.
“We've been saying, the question is to President Biden, 'Do you want your final act to be sending more bombs to blow more children up?'”
Mr Alawieh said that the movement needed Ms Harris to share "a plan" on Israel and Gaza for them to decide whether to rally voters in the election.
Minutes into Mr Biden's speech on Monday evening, a small group of delegates in the Florida section of the arena unfurled a large white banner that read “Stop Arming Israel”, with the text in the colours of the Palestinian flag.
The sign was blocked by supporters waving "We Love Joe" signs and with lighting turned off. Video shared by reporters with The Intercept and Zeteo showed a DNC delegate hitting a protester with a hijab.
The sign was taken away and those holding it escorted out of the building.
“This was really a matter of being able to speak up for the community, and this was a moment where we have a massive audience,” Florida delegate Nadia Ahmad told Democracy Now! on Tuesday.
“We were there specifically to confront President Joe Biden. We could have confronted any time at that convention, but we chose specifically during President Joe Biden's address, because he's the one who can stop this genocide by picking up the phone and making a phone call, and he has chosen not to do that.”
Connecticut delegate Esam Boraey and activist Lauren Steiner also took part in the protest, independent political news publication Drop Site reported.
Ms Ahmad carried the banner underneath her dress to get it past convention hall security, it reported.
Photos showed other delegates in the arena silently holding their “not another bomb” pins up in the air and covering their mouths, some with “arms embargo now” written on their hands, during Mr Biden's address.
Earlier in the day, thousands demonstrated in the streets of Chicago – with some breaking through a security fence and others trying to set up a protest camp at a nearby park – to speak out against US support for Israel.
“Those protesters out in the streets have a point,” Mr Biden said in his address. “A lot of innocent people are being killed, on both sides.”
Hamas-led October 7 attacks on southern Israel killed up to 1,200 people, according to Israeli officials.
Since then, Israeli military operations in Gaza have led to more than 41,200 Palestinian deaths, local health authorities say.
“We'll keep working to bring hostages home and end the war in Gaza and bring peace and security to the Middle East,” Mr Biden said. Negotiations for a deal are continuing this week.
Earlier in the evening, New York Representative Alexandria Ocasio-Cortez and Georgia Senator Raphael Warnock made brief comments about Gaza and the conflict.
Uncommitted movement continues
Beyond protests, the uncommitted voter movement with 36 delegates has been using its political power to keep Gaza at the forefront in convention spaces.
“We're being very reasonable, being good Democrats, we're being good political strategists,” Mr Alawieh said.
Members held a first panel on Palestinians for human rights during the day on Monday.
It featured speakers including founder of the Arab American Institute James Zogby, former representative from Michigan Andy Levin and California politician Hala Hijazi.
The uncommitted movement is still trying to gain a DNC speaking slot to discuss Gaza, The Intercept reported on Monday, but there has as yet been no word from officials.
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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.”
