Live updates: Follow the latest on Israel-Gaza
US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu spoke on Wednesday for the first time since August, as tension increases between the two and Israel remains quiet about its plans to retaliate against Iran's missile attack last week.
Since they last spoke, Mr Netanyahu's government has launched attacks against Iran-backed Hezbollah, sometimes only notifying Washington afterwards, such as with last month's killing of Hezbollah leader Hassan Nasrallah.
Israeli Defence Minister Yoav Gallant was supposed to visit the Pentagon on Wednesday to discuss Israel's operations. But Israel scrapped the visit at the last minute as it continues its ground invasion of Lebanon and its year-long campaign in Gaza. Israeli media reported that Mr Netanyahu had wanted to speak with Mr Biden first.
Veteran US journalist Bob Woodward on Tuesday published his latest book, War, that included revelations about Mr Biden's frustrations with Mr Netanyahu, who has sidelined the US leader and ignored US-backed calls for ceasefires in Gaza and Lebanon.
The last time Mr Biden held a call with Mr Netanyahu was on August 21, according to the White House.
The Israeli leader has vowed to retaliate after Iran fired nearly 200 ballistic missiles at Israel last week. Mr Biden, who has less than four months remaining in office, has said that he would not support Israeli strikes on Iranian oil installations or nuclear sites, and has urged Israel to respond “proportionately”.
Press secretary Karine Jean-Pierre said Wednesday's 30-minute call was "direct, productive" and addressed a range of issues. She said Vice President Kamala Harris had joined the call.
"The President affirmed Israel’s right to protect its citizens from Hezbollah, which has fired thousands of missiles and rockets into Israel over the past year alone, while emphasising the need to minimise harm to civilians, in particular in the densely populated areas of Beirut," according to the White House.
"The President affirmed his ironclad commitment to Israel’s security. He condemned unequivocally Iran’s ballistic missile attack against Israel on October 1."
Israeli ambassador to the UN Danny Danon said the call was "positive", but added that Israel would retaliate against Iran.
"I want to make it clear it was the largest attack in history, what we experienced the last week, coming from Iran," Mr Danon said. "We will choose the locations. It will be painful for the Iranian regime."
Mr Biden has maintained that Israel has a right to go after Iranian-backed groups that have launched attacks against it, including Hamas and Hezbollah. But he is facing criticism at home and abroad over his staunch military and diplomatic support of Israel, as is Ms Harris, the Democratic presidential candidate in the November 5 election.
The US had tried – and failed – to mediate a ceasefire and hostage release deal to end the Israel-Gaza war that has killed more than 42,000 Palestinians and reduced much of the coastal enclave to rubble. It began after the Hamas-led attacks on southern Israel on October 7, 2023, in which 1,200 people were killed.
The US also initially sought to broker a 21-day ceasefire in Lebanon.
Israel invaded southern Lebanon on October 1 in what it said would be a “limited” effort to destroy Hezbollah. But Mr Netanyahu has since used increasingly stronger language, bringing concerns of a drawn-out war in the country, which will be similar to that in Gaza.
More than 2,000 people have been killed in Lebanon so far and aerial footage on Wednesday showed at least two villages had been completely flattened.
Adla Massoud contributed to this report from the UN
UAE currency: the story behind the money in your pockets
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.”
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Indoor Cricket World Cup
Venue Insportz, Dubai, September 16-23
UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
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Skoda Superb Specs
Engine: 2-litre TSI petrol
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Price: From Dh147,000
Available: Now
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Changing visa rules
For decades the UAE has granted two and three year visas to foreign workers, tied to their current employer. Now that's changing.
Last year, the UAE cabinet also approved providing 10-year visas to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring their spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.
The government also said that leading academics, medical doctors, scientists, engineers and star students would be eligible for similar long-term visas, without the need for financial investments in the country.
The first batch - 20 finalists for the Mohammed bin Rashid Medal for Scientific Distinction.- were awarded in January and more are expected to follow.
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Prophets of Rage
(Fantasy Records)
Brief scoreline:
Liverpool 5
Keita 1', Mane 23', 66', Salah 45' 1, 83'
Huddersfield 0
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