In a historic speech in front of the UN General Assembly on Monday, French President Emmanuel Macron described his recognition of Palestine, which was joined by that of 11 other states, as a move that will bring peace to the region.
“The time for peace has come,” Mr Macron said to applause in the crowded chamber. “Some might say it’s too late. Other might say it’s too early. But one thing is certain, we can no longer wait.”
Mr Macron has faced fierce opposition to recognition from Israel and the US, which boycotted the event, and in the past days in France from some leading Jewish voices who say it is a gift to Hamas.
In apparent acknowledgement of such criticism, Mr Macron opened his speech by highlighting his empathy for the trauma caused in Israel by the "cruelty of Hamas".
He balanced empathy for Israel with understanding of Palestinian nationalism, using a quote from famed Palestinian author Mahmoud Darwish about his people "who never say goodbye to anything".
The hope is that if enough countries recognise Palestine, Israel and the US will understand the need to end the war in Gaza as a first step towards regional peace. Israeli threats to annex parts of the West Bank in retaliation may only lead to more conflict, leaders warned.
"Let’s be clear: statehood for the Palestinians is a right, not a reward,” UN Secretary General Antonio Guterres said. “Denying statehood would be a gift to extremists everywhere.”
Mr Macron, welcoming efforts made by Qatar, Egypt and the US to reach a ceasefire, said: "Nothing justifies the ongoing war in Gaza, nothing. I ask Israel to do nothing more that would thwart these efforts from coming to fruition. Hamas was vanquished on the military front … it must also be vanquished politically to be truly dismantled.”
The only way out of conflict is for Israelis to "recognise the humanity" of Palestinians and vice versa, Mr Macron said. Both people live in solitude, he said: "The solitude of the Israelis following the historic nightmare of October 7, 2023; and the solitude of Palestinians at their wits' end in the face of this ceaseless war."
String of announcements
As expected, a string of western states followed the French President's diplomatic effort, with the last-minute additions of Monaco and Denmark. Britain, Canada, Australia and Portugal made announcements on Sunday and were followed on Monday by Belgium, Malta, Luxembourg, San Marino and Andorra.
Although most of the world recognises Palestine, western states remain the biggest holdout. France and the UK bring with them the diplomatic weight of their status as permanent representatives of the UN Security Council.
Israel has reacted with fury, saying that Palestinian recognition is a "gift to Hamas". Israel’s UN envoy Danny Danon described the conference as “theatre”, saying it would do little to change reality in the Palestinian territories.
The US has supported Israel's position and denied visas to Palestinian leaders, including President Mahmoud Abbas. In a speech given by video-link, Mr Abbas called for a permanent ceasefire in Gaza and urged international backing for a reconstruction plan led by his Palestinian Authority.
Now, states must move beyond symbolism towards a concrete political solution to the Israel-Palestine conflict, said Hiba Qasas, the Palestinian convenor of a coalition of more than 500 Israeli and Palestinian leaders.
“France and Saudi Arabia with 143 other states are shaping a serious regional vision, and we need the United States at the table,” Ms Qasas told The National after meeting Mr Macron in New York, along with other members of Israeli and Palestinian civil society.
"Preserving a two-state solution is essential for both peoples and for regional stability: end the war and release all hostage; prevent annexation and forced displacement; and advance a regional political and security framework with a non-militarised Palestinian state and enforceable security guarantees."
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Our Time Has Come
Alyssa Ayres, Oxford University Press
RIVER%20SPIRIT
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MWTC info
Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.
My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The winners
Fiction
- ‘Amreekiya’ by Lena Mahmoud
- ‘As Good As True’ by Cheryl Reid
The Evelyn Shakir Non-Fiction Award
- ‘Syrian and Lebanese Patricios in Sao Paulo’ by Oswaldo Truzzi; translated by Ramon J Stern
- ‘The Sound of Listening’ by Philip Metres
The George Ellenbogen Poetry Award
- ‘Footnotes in the Order of Disappearance’ by Fady Joudah
Children/Young Adult
- ‘I’ve Loved You Since Forever’ by Hoda Kotb
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.”
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
COMPANY%20PROFILE
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
Hamilton’s 2017
Australia - 2nd; China - 1st; Bahrain - 2nd; Russia - 4th; Spain - 1st; Monaco - 7th; Canada - 1st; Azerbaijan - 5th; Austria - 4th; Britain - 1st; Hungary - 4th; Belgium - 1st; Italy - 1st; Singapore - 1st; Malaysia - 2nd; Japan - 1st; United States - 1st; Mexico - 9th