Live updates: Follow the latest on Israel-Gaza
The UN General Assembly on Wednesday overwhelmingly approved a Palestinian-led resolution demanding an immediate ceasefire in Gaza and the release of all hostages being held there, but nine countries including the US voted against it.
The non-binding resolution demands an immediate, unconditional and permanent ceasefire in Gaza, as well as the immediate and unconditional release of all hostages. It also demanded “immediate access” to widespread humanitarian aid for the citizens of Gaza, especially in the besieged north of the territory.
The resolution gathered 158 votes in favour, with nine countries opposing and 12 abstaining. A similar measure last year gathered 153 votes, showing an increase in support.
The nine nations voting against the ceasefire resolution were the US, Israel, Argentina, Hungary, Paraguay, Tonga, Papua New Guinea, Nauru and the Czech Republic.
“We hope that this very powerful message against only a handful of countries that voted against is another step in the direction of accomplishing the ceasefire in which the entire international community is calling for,” Palestine's UN representative Riyad Mansour told reporters.
In a separate vote, the Assembly passed a resolution urging Israel to uphold the mandate of Palestinian aid agency UNRWA and allow its “safe and unhindered humanitarian assistance” operations.
It repeats UN Secretary General Antonio Guterres’s statements that UNRWA is “the backbone” of all humanitarian operations in Gaza and no organisation can replace it. This follows Israel's decision to ban the agency, a measure due to take effect on January 28, drawing widespread international condemnation including from the Biden administration, a key Israeli ally.
This measure received 159 votes in favour, nine against, and 11 abstentions.
The nine countries opposing the resolution were: Argentina, Israel, Micronesia, Nauru, Palau, Papua New Guinea, Paraguay, Tonga and the US.
Speaking before the vote, US deputy ambassador Robert Wood warned member states that at a time when Hamas is feeling isolated due to the ceasefire in Lebanon, the UN resolution did not do enough to ensure the release of hostages.
“It would be shameful and wrong if the General Assembly voted today to vindicate Hamas’s cynical strategy of stalling and obstruction,” he said. “Indeed, rather than relieving pressure on Hamas, the General Assembly should be adopting a resolution that increases pressure on Hamas to accept the deal on the table without condition and without further delays.”
Addressing the separate UNRWA resolution, Mr Wood said it had “serious flaws”. He noted the resolution lacks provisions to restore trust between Israel and the UN agency for Palestinian refugees, despite US-led efforts to propose such measures.
On November 20, Washington exercised its veto power in the Security Council, a move consistent with past actions to protect its ally. The veto blocked a resolution urging a ceasefire in the continuing conflict between Israel and Hamas, which began after the militant group's October 7, 2023 assault on Israel.
The US maintained that any ceasefire must be tied to the release of all hostages.
“Gaza doesn't exist any more. It is destroyed,” Slovenia’s UN representative Samuel Zbogar said. “History is the harshest critic of inaction.”
Mr Zbogar underscored the need for urgent measures to secure a different future for Palestinian children, emphasising that achieving a ceasefire and ending the war in Gaza are critical steps.
Israel, predictably, strongly condemned the ceasefire resolution, which includes a call for Mr Guterres to develop “proposals on how the United Nations could help to advance accountability”.
“By approving this resolution, you are abandoning the hostages and choosing co-operation with Hamas. History will not forget this choice, and neither will we,” said Israel's ambassador to the UN, Danny Danon.
Mr Danon also presented to the 193-member General Assembly dozens of letters that Israel sent to UNRWA and the UN about alleged evidence showing that Hamas had taken over the agency and is operating from within its facilities in Gaza.
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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.”
'Cheb%20Khaled'
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Euro 2020
Group A: Italy, Switzerland, Wales, Turkey
Group B: Belgium, Russia, Denmark, Finland
Group C: Netherlands, Ukraine, Austria,
Georgia/Kosovo/Belarus/North Macedonia
Group D: England, Croatia, Czech Republic,
Scotland/Israel/Norway/Serbia
Group E: Spain, Poland, Sweden,
N.Ireland/Bosnia/Slovakia/Ireland
Group F: Germany, France, Portugal,
Iceland/Romania/Bulgaria/Hungary
Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
ASIAN%20RUGBY%20CHAMPIONSHIP%202024
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Gully Boy
Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi
Rating: 4/5 stars
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
'Outclassed in Kuwait'
Taleb Alrefai,
HBKU Press
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
UAE v United States, T20 International Series
Both matches at ICC Academy, Dubai. Admission is free.
1st match: Friday, 2pm
2nd match: Saturday, 2pm
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Rameez Shahzad, Amjad Gul, CP Rizwan, Mohammed Boota, Abdul Shakoor, Ahmed Raza, Imran Haider, Sultan Ahmed, Zahoor Khan, Amir Hayat
USA squad: Saurabh Netravalkar (captain), Jaskaran Malhotra, Elmore Hutchinson, Aaron Jones, Nosthush Kenjige, Ali Khan, Jannisar Khan, Xavier Marshall, Monank Patel, Timil Patel, Roy Silva, Jessy Singh, Steven Taylor, Hayden Walsh
Global state-owned investor ranking by size
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Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Results
Ashraf Ghani 50.64 per cent
Abdullah Abdullah 39.52 per cent
Gulbuddin Hekmatyar 3.85 per cent
Rahmatullah Nabil 1.8 per cent
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
SERIE A FIXTURES
Friday Sassuolo v Torino (Kick-off 10.45pm UAE)
Saturday Atalanta v Sampdoria (5pm),
Genoa v Inter Milan (8pm),
Lazio v Bologna (10.45pm)
Sunday Cagliari v Crotone (3.30pm)
Benevento v Napoli (6pm)
Parma v Spezia (6pm)
Fiorentina v Udinese (9pm)
Juventus v Hellas Verona (11.45pm)
Monday AC Milan v AS Roma (11.45pm)
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Honeymoonish
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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