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There can be no move towards peace in Gaza unless Hamas ceases to exist in the Palestinian enclave, the State Department said on Thursday.
In her first briefing since President Donald Trump took office on January 20, spokeswoman Tammy Bruce also said a proposal by Arab countries for postwar Gaza reconstruction was a welcome development, but noted “that it does not fulfil the requirements, the nature, of what President Trump was asking for.”
Mr Trump on Wednesday issued an ultimatum to Hamas, telling the group to release all remaining hostages, including the remains of deceased captives, or “it is over for you”. He has proposed a plan to displace the entire population of the Gaza Strip while the US redevelops it.
Ms Bruce said Hamas must disband and immediately release “everything, everyone”.
“[Secretary of State Marco] Rubio has made clear that as long as Hamas exists in that area, with a gun, without a gun, as long as they are a factor in Gaza and exist, there is no way forward,” Ms Bruce said.
She spoke soon after Mr Trump's Middle East envoy, Steve Witkoff, gave a more positive spin on the Egyptian-led diplomacy, without endorsing the details.
“I just finished reading it. There's a lot of compelling features to it,” Mr Witkoff told journalists at the White House. “We need more discussions about it, but it's a good-faith first step from the Egyptians,” he said, adding that Mr Trump is encouraging leaders in the Middle East to present “proactive” proposals for the US to consider.
Mr Trump later said the US is helping Israel as it negotiates with Hamas.
“We are having discussions with Hamas. We are helping Israel in those discussions, because we're talking about Israeli hostages,” he said.
Israel stopped food deliveries into Gaza at the end of the first phase of the ceasefire deal, instead of moving on to the second phase as was initially stipulated.
“Aid can only be delivered in a safe framework, so as long as it is something that is unsafe or we can’t guarantee the safety of something moving in, that is going to be stopped,” Ms Bruce said.
Jihan Abdalla contributed to this report
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
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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.”
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
More on Palestine-Israeli relations
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
Skoda Superb Specs
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
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Scoreline
Chelsea 1
Azpilicueta (36')
West Ham United 1
Hernandez (73')
What are the influencer academy modules?
- Mastery of audio-visual content creation.
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The Written World: How Literature Shaped History
Martin Puchner
Granta
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
