Israeli Prime Minister Benjamin Netanyahu during his visit to Washington last week. EPA
Israeli Prime Minister Benjamin Netanyahu during his visit to Washington last week. EPA
Israeli Prime Minister Benjamin Netanyahu during his visit to Washington last week. EPA
Israeli Prime Minister Benjamin Netanyahu during his visit to Washington last week. EPA

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Gaza ceasefire on brink as Netanyahu amasses forces

US President Donald Trump says he doesn't think Hamas will meet a Saturday deadline to release all hostages

Thomas Helm
Thomas Watkins

February 11, 2025

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The ceasefire between Hamas and Israel appears to be at risk of collapse, after Israeli Prime Minister Benjamin Netanyahu on Tuesday threatened to resume fighting unless Hamas releases the hostages being held in the Gaza Strip within days.

“In light of Hamas's announcement of its decision to violate the agreement and not release our hostages, last night I ordered the [Israeli military] to amass forces inside and around the Gaza Strip,” Mr Netanyahu said. "If Hamas does not return our hostages by Saturday noon, the ceasefire will be terminated and the [Israeli military] will return to intense fighting until Hamas is finally defeated."

Mr Netanyahu did not clarify whether he was demanding the release of the three hostages originally scheduled for release on Saturday, the nine remaining in the first phase of the ceasefire agreement, or all those held captive. A senior Israeli official told The National that Mr Netanyahu and his cabinet were demanding that Hamas release all remaining hostages by the deadline.

Hamas on Monday said it would delay the exchange of hostages planned for Saturday until further notice but the militant group left the door open to release hostages if mediators put pressure on Israel to fully respect the ceasefire agreement.

The militant group claims Israel has breached key conditions of the agreement, prompting it to call off the release of three hostages on Saturday. On Tuesday, it released a list of the breaches it claims Israel has made.

The Israeli Prime Minister's comments came as US President Donald Trump said he did not think Hamas would honour a deadline he set on Monday, in which he warned “all hell would break out” if the remaining captives were not freed by “Saturday at 12 o'clock”.

“I have a Saturday deadline, and I don't think they're going to make [the] deadline. Personally, I think they want to play tough guy. But we'll see how tough they are,” Mr Trump said as he welcomed Jordan's King Abdullah II to the White House on Tuesday.

Yemen's Houthis are ready to launch attacks on Israel if it resumes attacks on Gaza and does not commit to the ceasefire deal, the group's leader Abdul-Malik Al Houthi said.

"Our hands are on the trigger and we are ready to immediately escalate against the Israeli enemy if it returns to escalation in the Gaza Strip," Mr Al Houthi said in a televised speech.

The Houthis had attacked Israeli and other vessels in the Red Sea, disturbing global shipping lanes, in what they said were acts of solidarity with Gaza's Palestinians during Israel's war with Hamas.

Supporters of Israelis held hostage in the Gaza Strip since October 2023 rally in Jerusalem on Tuesday, calling on the government to complete the exchange deal with Hamas. AFP
Supporters of Israelis held hostage in the Gaza Strip since October 2023 rally in Jerusalem on Tuesday, calling on the government to complete the exchange deal with Hamas. AFP

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.”

The bio

Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
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School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
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Favourite place to visit: Dubai, there’s no place like home

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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

Updated: February 12, 2025, 4:31 AM
GazaBenjamin Netanyahu