Men walk through debris after a building was hit by an Israeli bombardment in Gaza City on September 3, 2024. AFP
Men walk through debris after a building was hit by an Israeli bombardment in Gaza City on September 3, 2024. AFP
Men walk through debris after a building was hit by an Israeli bombardment in Gaza City on September 3, 2024. AFP
Men walk through debris after a building was hit by an Israeli bombardment in Gaza City on September 3, 2024. AFP

US insists ceasefire deal includes Israeli withdrawal from corridor on Gaza-Egypt border


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The White House on Tuesday said a proposed ceasefire between Israel and Hamas must include the removal of Israeli forces from a narrow strip of land along Gaza's border with Egypt, after Israeli Prime Minister Benjamin Netanyahu said troops would remain there.

The Salah Al Din corridor, also known as the Philadelphi corridor, is in focus after Mr Netanyahu said on Monday that the area should never be abandoned, following Hamas's killing of six hostages.

White House National Security Council spokesman John Kirby said a “bridging proposal” put forth by the US last month to span remaining gaps between Israel and Hamas in a ceasefire and hostage release deal also included the Israeli withdrawal from the corridor.

“The bridging proposal that we started working with … included the removal of defence forces from all densely populated areas, and that includes those areas along that corridor,” Mr Kirby told reporters. “That's the proposal that Israel agreed to, and we're going to continue to work on this as hard as we can.”

Israeli Prime Minister Benjamin Netanyahu said on Monday that Israel 'must have control' over the corridor. EPA
Israeli Prime Minister Benjamin Netanyahu said on Monday that Israel 'must have control' over the corridor. EPA

Mr Netanyahu said the corridor is the key supply route Hamas uses to smuggle weapons into Gaza, a charge both Hamas and Egypt deny.

US President Joe Biden's administration has said Israel must completely withdraw from Gaza when the war ends, and Egypt is deeply opposed to a long-term Israeli military presence along Gaza's border, saying it is a violation of their decades-old agreement.

Mr Biden in May announced a three-phased agreement that he said Israel had proposed to end the war in exchange for the freeing of hostages being held by Hamas since October 7.

“They have to withdraw from all densely populated areas in phase one, that includes densely populated areas around or adjacent to the Philadelphi corridor where it intersects with those densely populated areas – that's what the proposal says,” Mr Kirby said. “That's the proposal that was put forth in the end of May.”

The US, alongside Qatar and Egypt, has been mediating talks between Israel and Hamas to end the war, sparked on October 7, when Hamas gunmen attacked southern Israel killing 1,200.

Since then, more than 40,800 Palestinians have been killed in Israeli strikes on the tiny coastal enclave, and more than 94,000 injured.

Mr Kirby said the deaths of six hostages at the weekend, including a US citizen, highlights the need to achieve a ceasefire deal.

“Clearly what happened over the weekend underscores how important it is to get this done as quickly as possible,” he said, adding that Hamas was responsible for their deaths.

The US State Department echoed Mr Kirby, calling on both sides to agree to a deal. Spokesman Matthew Miller said the death of the hostages was further proof that a deal needed to be reached.

“The world cannot afford to wait any longer,” Mr Miller said. “Over the coming days, the United States will continue to engage with our partners in the region to push for a final agreement.”

Mr Miller said recent talks in Cairo had borne some fruit.

UAE%20SQUAD
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MATCH INFO

World Cup 2022 qualifier

UAE v Indonesia, Thursday, 8pm

Venue: Al Maktoum Stadium, Dubai

Mobile phone packages comparison
RESULT

Deportivo La Coruna 2 Barcelona 4
Deportivo:
Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')

Company name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs 

UAE currency: the story behind the money in your pockets
JAPANESE GRAND PRIX INFO

Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday 

Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

THE SPECS

Engine: AMG-enhanced 3.0L inline-6 turbo with EQ Boost and electric auxiliary compressor

Transmission: nine-speed automatic

Power: 429hp

Torque: 520Nm​​​​​​​

Price: Dh360,200 (starting)

Turning%20waste%20into%20fuel
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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

RESULTS

5pm Maiden (PA) Dh80,000 (Turf) 1,600m

Winner Thabet Al Reef, Bernardo Pinheiro (jockey), Abdallah Al Hammadi (trainer)

5.30pm Handicap (PA) Dh80,000 (T) 1,600m

Winner Blue Diamond, Pat Cosgrave, Abdallah Al Hammadi

6pm Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m

Winner Hameem, Adrie de Vries, Abdallah Al Hammadi

6.30pm Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m

Winner Shoja’A Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7pm Maiden (PA) Dh80,000 (T) 1,200m

Winner Heros De Lagarde, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm Handicap (TB) Dh100,000 (T) 2,400m

Winner Good Tidings, Antonio Fresu, Musabah Al Muhairi

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%0D%3Cbr%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EClara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPatrick%20Rogers%2C%20Lee%20McMahon%2C%20Arthur%20Guest%2C%20Ahmed%20Arif%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ELegalTech%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%244%20million%20of%20seed%20financing%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Shorooq%20Partners%2C%20Techstars%2C%20500%20Global%2C%20OTF%2C%20Venture%20Souq%2C%20Knuru%20Capital%2C%20Plug%20and%20Play%20and%20The%20LegalTech%20Fund%3C%2Fp%3E%0A
The specs: 2018 Volkswagen Teramont

Price, base / as tested Dh137,000 / Dh189,950

Engine 3.6-litre V6

Gearbox Eight-speed automatic

Power 280hp @ 6,200rpm

Torque 360Nm @ 2,750rpm

Fuel economy, combined 11.7L / 100km

The biog

Favourite film: The Notebook  

Favourite book: What I know for sure by Oprah Winfrey

Favourite quote: “Social equality is the only basis of human happiness” Nelson Madela.           Hometown: Emmen, The Netherlands

Favourite activities: Walking on the beach, eating at restaurants and spending time with friends

Job: Founder and Managing Director of Mawaheb from Beautiful Peopl

Updated: September 03, 2024, 8:35 PM