The UN Security Council meets to discuss the situation in the Middle East. AP
The UN Security Council meets to discuss the situation in the Middle East. AP
The UN Security Council meets to discuss the situation in the Middle East. AP
The UN Security Council meets to discuss the situation in the Middle East. AP

Middle East at 'most dangerous juncture', UN official says


Patrick deHahn
  • English
  • Arabic

Live updates: Follow the latest on Israel-Gaza

The Middle East is at “the most dangerous juncture” due to the wars in Gaza and Lebanon, as well as Israel's weekend strikes on Iran, a UN official said on Tuesday.

“We have now entered the second year of this horrific conflict, and the region is on the verge of yet another serious escalation. The violence in the occupied Palestinian territory and the region shows no signs of abating,” said Tor Wennesland, UN special co-ordinator for the Middle East Peace Process.

Speaking at a UN Security Council meeting on the Middle East, Mr Wennesland warned the decades-long peace process between Israelis and Palestinians was at serious risk.

“We are witnessing not only a horrific humanitarian nightmare, but a rapidly accelerating and unravelling of the prospects for a sustainable resolution to this conflict,” he said.

  • Displaced people scramble for bread outside bakeries in Khan Younis, southern Gaza. EPA
    Displaced people scramble for bread outside bakeries in Khan Younis, southern Gaza. EPA
  • There is a shortage of flour, and high prices if it is available, due to the Israeli military's continued closure of crossings into Gaza. EPA
    There is a shortage of flour, and high prices if it is available, due to the Israeli military's continued closure of crossings into Gaza. EPA
  • A recent UN report said 'the need for nutrition support is becoming more urgent' in the enclave. EPA
    A recent UN report said 'the need for nutrition support is becoming more urgent' in the enclave. EPA
  • The report highlights how '93 per cent of children and 96 per cent of pregnant and breastfeeding women are consuming fewer food groups daily, leading to households skipping meals'. EPA
    The report highlights how '93 per cent of children and 96 per cent of pregnant and breastfeeding women are consuming fewer food groups daily, leading to households skipping meals'. EPA
  • Hundreds of displaced people crowd in front of bakeries to try to get bread in Khan Younis. EPA
    Hundreds of displaced people crowd in front of bakeries to try to get bread in Khan Younis. EPA
  • Long queues for food in Khan Younis. Deaths from malnutrition have been reported in Gaza for months. EPA
    Long queues for food in Khan Younis. Deaths from malnutrition have been reported in Gaza for months. EPA
  • Only a fraction of aid intended for Gaza has entered the strip since the war began. EPA
    Only a fraction of aid intended for Gaza has entered the strip since the war began. EPA
  • There is still a high risk of famine in Gaza, with the number of people facing 'catastrophic' levels of hunger expected to nearly triple between November 2024 and April 2025, according to global food monitor the Integrated Food Security Phase Classification. EPA
    There is still a high risk of famine in Gaza, with the number of people facing 'catastrophic' levels of hunger expected to nearly triple between November 2024 and April 2025, according to global food monitor the Integrated Food Security Phase Classification. EPA

Millions in Gaza are struggling to find food and clean water, while being forcibly displaced again and again amid Israeli military operations. Hundreds of thousands in Lebanon have also been displaced.

Mr Wennesland described a trip he took through the Gaza Strip last week that “defies imagination”.

He said he saw “immense destruction of residential buildings, roads, hospitals and schools”, where he could only count two buildings that were not partially or completely destroyed.

The UN official said he also witnessed thousands of Palestinians “in makeshift tents, with nowhere else to go as winter approaches”, and spoke of humanitarian workers who decried deteriorating conditions.

Many in Gaza are on the brink of famine, according to the UN, with limited humanitarian deliveries and a reported lack of protection for aid workers.

Israel on Monday voted to ban UNRWA, the main UN agency serving the needs of Palestinians in the occupied Palestinian territories and the wider region. The move has received international criticism, including during at the council meeting.

“There is no justification for cutting off ties with UNRWA,” UK ambassador to the UN Barbara Woodward told the council. “It must abide by its obligations and ensure UNRWA can continue its life-saving work.”

There are concerns that Israel's military operations, especially northern Gaza, are part of an plan to “starve” the local population – something the US denounced during the council meeting.

US ambassador to the UN Linda Thomas-Greenfield said “the United States rejects any Israeli efforts to starve Palestinians In Jabalia or anywhere else”.

“One year into this conflict, Israel must address the catastrophic humanitarian crisis in Gaza,” she said.

She added that Washington had told Israel it must allow food, medicine and essentials into “all of Gaza, especially the north, and especially as winter sets in” and protect those making the deliveries.

“Israel's words must be matched by action on the ground,” Ms Thomas-Greenfield said.

“Right now, that is not happening. This must change immediately.”

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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
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Australia 580
Pakistan 240 and 335

Result: Australia win by an innings and five runs

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Shelby Lynne and Allison Moorer

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Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The bio:

Favourite film:

Declan: It was The Commitments but now it’s Bohemian Rhapsody.

Heidi: The Long Kiss Goodnight.

Favourite holiday destination:

Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.

Heidi: Australia but my dream destination would be to go to Cuba.

Favourite pastime:

Declan: I love brunching and socializing. Just basically having the craic.

Heidi: Paddleboarding and swimming.

Personal motto:

Declan: Take chances.

Heidi: Live, love, laugh and have no regrets.

 

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

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.”

Getting there

The flights

Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.

The stay

Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net 

Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama

Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com

SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

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Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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