PLO chairman Yasser Arafat and Israeli foreign minister Shimon Peres at the Hilton hotel in Taba, Egypt, September 1995. AP Photo
PLO chairman Yasser Arafat and Israeli foreign minister Shimon Peres at the Hilton hotel in Taba, Egypt, September 1995. AP Photo
PLO chairman Yasser Arafat and Israeli foreign minister Shimon Peres at the Hilton hotel in Taba, Egypt, September 1995. AP Photo
PLO chairman Yasser Arafat and Israeli foreign minister Shimon Peres at the Hilton hotel in Taba, Egypt, September 1995. AP Photo


The Oslo Accords were a cry for help, but the US ignored it


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September 18, 2023

The breakthrough of the Oslo Accords wasn’t to be found in its details. Rather it was in the opening sentences, in which the Israeli government and the Palestine Liberation Organisation recognised one another’s legitimacy as representatives of two separate peoples and as negotiating partners.

The rest of the Accords did more to lay bare where the parties disagreed, than provide any real roadmap forward. Reading the text made clear the key issues that defined the deep chasm separating Israelis and Palestinians and their admitted inability to resolve the differences dividing them. It was as if they were saying: “This is as far as we could go.” More than an agreement, it was a cry for help.

Within days of the signing, it became evident that the US either didn’t hear, or didn’t want to hear, that cry. Listening to his “peace team” of advisers, then president Bill Clinton said that the US wasn’t going to insert itself into the process by acting as a mediator.

Abandoning its role as a guarantor of the Accords, the US made clear that it was now up to the parties to negotiate solutions between themselves. It was as if a couple who had been fighting for decades went to a marriage counsellor asking for help only to be told: “I’m glad you know you need help. I can’t do this for you, so I’m going to leave you to work this out.”

That was the fatal blow that ultimately spelled the death of Oslo.

Many problems were at the core of this failure.

First and foremost was the obvious asymmetry of power between the Israelis and Palestinians. Once the PLO had been defeated as an external force and the first Intifada had been crushed, the Palestinians in the occupied lands were left exhausted and without leverage. The “Authority” that the PLO was to establish had no real authority or power – and it was, at every turn, dependent on Israel for its ability to survive.

It was as if a couple went to a marriage counsellor only to be told: 'I’m going to leave you to work this out'

The Israelis, on the other hand, had full military control over a captive population. Their government was a fragile coalition, facing a hard-right opposition that continued to challenge prime minister Yitzhak Rabin’s legitimacy because maintaining his coalition’s majority required the support of parties representing Israel’s Palestinian citizens. In practice, Mr Rabin never stopped deferring to the opposition on anti-Palestinian measures and on settlement expansion. And so, as Israel continued to impose its will on the occupied lands, all the Palestinians could do was appeal to an unresponsive US.

Still, it was the problems posed by the US that proved decisive, and not in a good way.

The “peace team” of advisers that US president Bill Clinton left in charge of the peace process acted, as one member of the team later noted, more like “Israel’s lawyers” than honest brokers. They advised the president to leave the parties to their own devices – and continued, at each step along the way, to see the unfolding tragedy through an Israeli lens, insensitive to Palestinian perceptions and needs.

Palestinians were pressed to crack down on their violent opponents to the peace process – which they lacked the power to do – or to acquiesce to Israel’s often disproportionate responses to Palestinian acts of violence. Palestinians were also told to understand the internal problems faced by Mr Rabin and the leeway he gave to Israeli extremists who were acting in their own ways to sabotage peacemaking.

The passive, or sometimes negative, role played by the US “peace team” was compounded by the obstructionist role played by the US Congress.

Shortly after the signing of the Accords, Congress was expected to rescind its anti-Palestinian legislation and pass an aid package supporting the fledgling Palestinian Authority. Instead, Congress passed restrictive bills that not only failed to lift the ban on the PLO, but also imposed cumbersome conditions on any US aid to and relations with the Palestinians.

While the administration touted its “aid to the Palestinians”, in the early years after Oslo, that aid actually went directly to USAID which then dispensed it to US non-governmental groups for projects that Palestinians had no say in determining. Often, the funds weren’t disbursed at all.

To make matters worse, shortly after Oslo, Mr Rabin’s Israeli opposition in the Likud party established a counter-lobby in Washington, led by Benjamin Netanyahu. Partnering with Republicans in Congress, this US lobbying effort began to sabotage the peace process.

After Republicans won control of Congress in 1994, the sides were set: Mr Clinton and Mr Rabin versus Republicans and Likud.

The Palestinians never stood a chance. More punitive measures were imposed on them, while Israel was given a free ride.

After the assassination of Mr Rabin and the election of Mr Netanyahu, Israel was largely able to operate with impunity, culminating in the Republican-majority Congress inviting Mr Netanyahu to a joint session where he made clear his intention to end the Oslo process.

The asymmetry between Israelis and Palestinians became amplified. Israel had power while Palestinians had none. Israel received support, while Palestinians received pressure. Oslo was dying a slow death.

Since Oslo, Palestinians became poorer, with unemployment doubling; settlements dramatically increased by 50 per cent, as did the seizure of Palestinian lands; and while Israelis were acting with impunity, Palestinians were losing hope in the future.

Not only does this asymmetry persist today, but a solution to a decades-long problem remains out of reach.

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

UAE currency: the story behind the money in your pockets
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%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A

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.”

UAE currency: the story behind the money in your pockets
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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Simran

Director Hansal Mehta

Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey

Three stars

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

UAE currency: the story behind the money in your pockets
Klopp at the Kop

Matches 68; Wins 35; Draws 19; Losses 14; Goals For 133; Goals Against 82

  • Eighth place in Premier League in 2015/16
  • Runners-up in Europa League in 2016
  • Runners-up in League Cup in 2016
  • Fourth place in Premier League in 2016/17
The specs

Engine: 4.0-litre, twin-turbocharged V8

Transmission: nine-speed automatic

Power: 630bhp

Torque: 900Nm

Price: Dh810,000

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
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Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

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: September 18, 2023, 2:00 PM