US President Joe Biden meets Israeli Prime Minister Benjamin Netanyahu on the sidelines of the UN General Assembly in New York last month. AFP
US President Joe Biden meets Israeli Prime Minister Benjamin Netanyahu on the sidelines of the UN General Assembly in New York last month. AFP
US President Joe Biden meets Israeli Prime Minister Benjamin Netanyahu on the sidelines of the UN General Assembly in New York last month. AFP
US President Joe Biden meets Israeli Prime Minister Benjamin Netanyahu on the sidelines of the UN General Assembly in New York last month. AFP


Has Hamas ended Biden's bid for a Saudi-Israel deal?


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October 08, 2023

On Saturday morning, the Biden administration awoke to the fact that a massive attack on southern Israel by Hamas had probably demolished its ambitious efforts to reshape the Middle Eastern strategic landscape. US officials were amazed that Israel was caught by surprise, despite the intense surveillance and human and signals intelligence that tracks activity in the Gaza Strip.

For now, the game-changing and increasingly plausible effort to redraw the Middle Eastern strategic landscape by brokering Saudi-Israeli normalisation, and strengthen the US hand against Iran in the immediate term and China in the long term is, at the very least, on hold. It could be the case that Tehran even strongly encouraged Hamas to launch the offensive precisely to sabotage a Saudi-Israeli rapprochement.

Israel has vowed to respond with crushing blows against Hamas, which has apparently seized dozens of Israeli hostages. So the likelihood is a prolonged military campaign with little restraint by Israel’s powerful military to kill as many Hamas leaders, militants and supporters, and destroy as much of its infrastructure and equipment, as possible.

The track record of powerful militaries taking on much weaker guerrilla forces in smaller territories is replete with a chronic inability to prevent huge civilian casualties and, typically, massacres, whether intended or accidental. The Israeli military has undertaken numerous operations of this kind, mainly in Lebanon and Gaza. Israelis will probably feel less compunction than ever about Palestinian civilian casualties, given the scale and intensity of the Hamas attack. But others, especially the Arab world, will be enraged and appalled, potentially inhibiting Saudi normalisation with Israel.

The future of Mr Biden’s triangular normalisation initiative depends on Israel’s response to the attack

The Saudi government’s initial statement called on all sides to show restraint but also cited Riyadh’s “repeated warnings of the dangers of the explosion of the situation as a result of the continuation of the occupation, the deprivation of the Palestinian people of their legitimate rights and the repetition of systematic provocations”. That language, in particular, caused considerable consternation among several key Biden administration officials.

One of the goals of the attack, already at least partially successful, is surely to drive a wedge between Riyadh and Washington, because there remains a fundamental difference between them regarding the occupation and the Palestinians, in policy but even more in attitude.

The instinct of Saudi leaders, cognisant of not only their pro-Palestinian domestic audience, but also their country’s role as a regional Arab and global Muslim leader, is to never lose sight of Palestinian rights and grievances. US politicians, on the other hand, tend to compete over who can be more pro-Israel, especially when Israelis are being killed.

Indeed, former president Donald Trump and several other Republican presidential candidates sought to directly blame the Biden administration for the Hamas attack by pointing to Mr Biden’s recent decision to unfreeze $6 billion in South Korean payments for Iranian oil in order to secure the release of Americans being held hostage by Iran. Mr Trump falsely described this money as “American taxpayer dollars” that “helped fund the attacks”.

In reality, the South Korean money was transferred to a third-party account in Qatar and can only be used for humanitarian purposes. Moreover, none of it has yet been spent. Nonetheless, his Republican opponents will seek to pummel Mr Biden for somehow being responsible for the Hamas attack on Israel, if nothing else because they allege he has created an atmosphere of American “weakness”.

The future of Mr Biden’s triangular normalisation initiative depends on Israel’s response to the attack. Given the scale of the assault and the radical failure of Israeli security measures regarding Gaza, a return to the prevailing status quo in Gaza may not be acceptable to most Israelis. But the alternative may mean the direct reoccupation of all or much of Gaza.

Hamas and its Iranian backers are undoubtedly hoping the violence spreads to the West Bank and, especially, occupied East Jerusalem. And Iran may press Hezbollah in Lebanon to enter the fray, plunging Israel into a protracted, multi-front campaign that would tempt Israeli hardliners to create a new security structure by, among other things, annexing large chunks of the occupied Palestinian territories and possibly expelling Palestinians. Hezbollah has already obliged by firing some missiles in the Shebaa farms.

Nayef Al Sudairi, Saudi Arabia's the first-ever Saudi ambassador to the Palestinian Authority, right, and Palestinian Minister of Foreign Affairs and Expatriates Riyad Al-Maliki, left, make a joint statement after their meeting in Ramallah last month. AP
Nayef Al Sudairi, Saudi Arabia's the first-ever Saudi ambassador to the Palestinian Authority, right, and Palestinian Minister of Foreign Affairs and Expatriates Riyad Al-Maliki, left, make a joint statement after their meeting in Ramallah last month. AP

But it’s also conceivable that Israel will have the wisdom to recognise that this attack is an effort to goad them into an overreaction and will, instead, limit their military response in Gaza and do their utmost to prevent violence spreading to the West Bank, Jerusalem or Lebanon. Saudi leaders, too, may recognise that this is an all-out effort to sabotage their own diplomatic overtures towards Israel and thereby obtain a much-coveted formal security guarantee from Washington.

There are many local and domestic reasons for Hamas’s attack but it’s also certainly an effort to scupper a US triangular agreement with Israel and Saudi Arabia. It may well succeed. But the three parties might recognise the attack for what it is, and move as quickly as possible to resume talks and redouble efforts to bridge remaining differences. If it’s this threatening to their mutual enemies, what more evidence is required of the potential benefits of such a deal?

The Biden administration is certainly going to try to make that point, both at home and abroad. Whether they can convince Israel to show restraint and Saudi Arabia to remain open to normalisation despite the coming violence remains to be seen.

The final question for Mr Biden is that, assuming the current conflict makes his grand bargain impossible before the next presidential election, if he gets a second term can the parties pick up more or less where they were a few days ago?

That doesn’t only depend on him winning re-election. It also hinges on what new “security arrangements” Israel decides to impose on Gaza, and possibly the West Bank. It’s almost impossible that the context for a “Significant Palestinian Component” of such a deal won’t be significantly altered at the end of the current fighting. So, all parties, especially Riyadh, are going to have to recalculate when the dust settles.

For Mr Biden, the best-case scenario may be making the triangular deal with Israel and Saudi Arabia a second term agenda item. If Hamas and Iran wanted to upend, and at least postpone, Mr Biden’s proposed US-Saudi-Israeli agreement, they’ve probably already succeeded.

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Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

In the Restaurant: Society in Four Courses
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Translated by Jamie Searle Romanelli
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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

Intercontinental Cup

Namibia v UAE Saturday Sep 16-Tuesday Sep 19

Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27

The major Hashd factions linked to Iran:

Badr Organisation: Seen as the most militarily capable faction in the Hashd. Iraqi Shiite exiles opposed to Saddam Hussein set up the group in Tehran in the early 1980s as the Badr Corps under the supervision of the Iran Revolutionary Guards Corps (IRGC). The militia exalts Iran’s Supreme Leader Ali Khamenei but intermittently cooperated with the US military.

Saraya Al Salam (Peace Brigade): Comprised of former members of the officially defunct Mahdi Army, a militia that was commanded by Iraqi cleric Moqtada Al Sadr and fought US and Iraqi government and other forces between 2004 and 2008. As part of a political overhaul aimed as casting Mr Al Sadr as a more nationalist and less sectarian figure, the cleric formed Saraya Al Salam in 2014. The group’s relations with Iran has been volatile.

Kataeb Hezbollah: The group, which is fighting on behalf of the Bashar Al Assad government in Syria, traces its origins to attacks on US forces in Iraq in 2004 and adopts a tough stance against Washington, calling the United States “the enemy of humanity”.

Asaeb Ahl Al Haq: An offshoot of the Mahdi Army active in Syria. Asaeb Ahl Al Haq’s leader Qais al Khazali was a student of Mr Al Moqtada’s late father Mohammed Sadeq Al Sadr, a prominent Shiite cleric who was killed during Saddam Hussein’s rule.

Harakat Hezbollah Al Nujaba: Formed in 2013 to fight alongside Mr Al Assad’s loyalists in Syria before joining the Hashd. The group is seen as among the most ideological and sectarian-driven Hashd militias in Syria and is the major recruiter of foreign fighters to Syria.

Saraya Al Khorasani:  The ICRG formed Saraya Al Khorasani in the mid-1990s and the group is seen as the most ideologically attached to Iran among Tehran’s satellites in Iraq.

(Source: The Wilson Centre, the International Centre for the Study of Radicalisation)

Dubai Bling season three

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Rating: 1/5

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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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What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

'Nope'
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Non-oil%20trade
%3Cp%3ENon-oil%20trade%20between%20the%20UAE%20and%20Japan%20grew%20by%2034%20per%20cent%20over%20the%20past%20two%20years%2C%20according%20to%20data%20from%20the%20Federal%20Competitiveness%20and%20Statistics%20Centre.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIn%2010%20years%2C%20it%20has%20reached%20a%20total%20of%20Dh524.4%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3ECars%20topped%20the%20list%20of%20the%20top%20five%20commodities%20re-exported%20to%20Japan%20in%202022%2C%20with%20a%20value%20of%20Dh1.3%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3EJewellery%20and%20ornaments%20amounted%20to%20Dh150%20million%20while%20precious%20metal%20scraps%20amounted%20to%20Dh105%20million.%C2%A0%3C%2Fp%3E%0A%3Cp%3ERaw%20aluminium%20was%20ranked%20first%20among%20the%20top%20five%20commodities%20exported%20to%20Japan.%C2%A0%3C%2Fp%3E%0A%3Cp%3ETop%20of%20the%20list%20of%20commodities%20imported%20from%20Japan%20in%202022%20was%20cars%2C%20with%20a%20value%20of%20Dh20.08%20billion.%3C%2Fp%3E%0A
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The%20specs%3A%202024%20Mercedes%20E200
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Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

TYPES%20OF%20ONLINE%20GIG%20WORK
%3Cp%3E%3Cstrong%3EDesign%2C%20multimedia%20and%20creative%20work%3A%20%3C%2Fstrong%3ELogo%20design%2C%20website%20design%2C%20visualisations%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBusiness%20and%20professional%20management%3A%20%3C%2Fstrong%3ELegal%20or%20management%20consulting%2C%20architecture%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBusiness%20and%20professional%20support%3A%20%3C%2Fstrong%3EResearch%20support%2C%20proofreading%2C%20bookkeeping%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESales%20and%20marketing%20support%3A%20%3C%2Fstrong%3ESearch%20engine%20optimisation%2C%20social%20media%20marketing%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EData%20entry%2C%20administrative%2C%20and%20clerical%3A%20%3C%2Fstrong%3EData%20entry%20tasks%2C%20virtual%20assistants%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIT%2C%20software%20development%20and%20tech%3A%20%3C%2Fstrong%3EData%20analyst%2C%20back-end%20or%20front-end%20developers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EWriting%20and%20translation%3A%20%3C%2Fstrong%3EContent%20writing%2C%20ghost%20writing%2C%20translation%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOnline%20microtasks%3A%20%3C%2Fstrong%3EImage%20tagging%2C%20surveys%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20World%20Bank%3C%2Fem%3E%3C%2Fp%3E%0A

Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books

UAE currency: the story behind the money in your pockets
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Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes 

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THE BIO: Mohammed Ashiq Ali

Proudest achievement: “I came to a new country and started this shop”

Favourite TV programme: the news

Favourite place in Dubai: Al Fahidi. “They started the metro in 2009 and I didn’t take it yet.”

Family: six sons in Dubai and a daughter in Faisalabad

 

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

COMPANY%20PROFILE
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Updated: October 08, 2023, 2:10 PM