US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu meet in New York, the month before the October 7 Hamas attacks on Israel, on the sidelines of the 78th United Nations General Assembly in New York City on September 20, 2023. AFP
US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu meet in New York, the month before the October 7 Hamas attacks on Israel, on the sidelines of the 78th United Nations General Assembly in New York City on September 20, 2023. AFP
US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu meet in New York, the month before the October 7 Hamas attacks on Israel, on the sidelines of the 78th United Nations General Assembly in New York City on September 20, 2023. AFP
US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu meet in New York, the month before the October 7 Hamas attacks on Israel, on the sidelines of the 78th United Nations General Assem


Netanyahu fighting Biden's plan to end the war bodes ill for the 'special relationship'


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June 05, 2024

In a dramatic news conference last week, US President Joe Biden outlined “an Israeli peace proposal” to end the war in Gaza. But the speech didn’t add up.

The plea for acceptance of the “Israeli peace proposal” was, bizarrely, aimed mainly at Israelis. As he spoke, it became apparent the proposal was not Israeli, but his own, albeit marketed by Mr Biden as “Israeli” to pressure its government to agree to what he was craftily branding as its own idea.

Mr Biden appealed to ordinary and elite Israelis for help. “I know there are those in Israel who will not agree with this plan and will call for the war to continue indefinitely,” Mr Biden stated, adding that “some are even in the government coalition”. This invited casual observers to assume he was referring to Jewish supremacists such as Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben-Gvir.

Itamar Ben-Gvir and Bezalel Smotrich in the Knesset. EPA
Itamar Ben-Gvir and Bezalel Smotrich in the Knesset. EPA

“The people of Israel should know they can make this offer without any further risk to their own security,” with the operative word being “can”. In effect, he means that Israelis could and should “make this offer”, although they haven’t.

Anyone reading between the lines could immediately see that Mr Biden was attempting to enlist the support of the Israeli public, particularly the huge percentage that favours a negotiated agreement with Hamas to retrieve hostages over an indefinite continuation of the quixotic and even absurd effort to secure the complete destruction of that organisation.

He was also attempting to give Prime Minister Benjamin Netanyahu every opportunity of siding with Washington, at least in public, and blame any categorical opposition on his radical cabinet colleagues. Mr Netanyahu, however, declined to co-operate.

Israelis call for a hostages deal with Hamas and against Israeli Prime Minister Benjamin Netanyahu and his government, on June 1, in Tel Aviv. Getty
Israelis call for a hostages deal with Hamas and against Israeli Prime Minister Benjamin Netanyahu and his government, on June 1, in Tel Aviv. Getty

His public responses, which stressed that the war must continue until an undefined and unachievable “defeat” of Hamas, amounted to an obvious and categorical “no” to what Mr Biden had presented as an Israeli proposal. Mr Biden’s plan envisages three loosely defined phases, leading from a phase 1 ceasefire and mutual release of captives to a phase 2 permanent cessation of hostilities followed by a phase 3 reconstruction in Gaza and establishment of a new post-conflict order there, which he did not describe.

Mr Biden also said that if talks over phase 2 had not concluded in the six weeks allotted for phase 1 negotiations over phase 2, talks and the ceasefire would continue as long as all parties were abiding by phase 1 commitments. Neither side, therefore, would be able to simply pocket the gains from phase 1 and reinitiate conflict, willy-nilly, because they’re not interested in phase 2, most notably permanent cessation of hostilities, meaning an end to the war under the conditions that effectively exist whenever such an agreement is reached.

By insisting that the war must continue until additional unspecified, undefined and probably undefinable military and political goals are achieved, Mr Netanyahu was categorically rejecting the logic of the three-phase plan and the American position that the goal is to permanently stop the fighting.

Mr Biden concluded his remarks by bluntly saying, “it’s time for this war to end and for the day after to begin”. Mr Netanyahu’s response was unmistakable, albeit slightly less explicit, amounting to “this is no time for this war to end”. He didn’t put it that way, but by insisting that Israel has a good deal more fighting to do and leaving the scope, aim and timetable of additional hostilities completely undefined, he only added to the impression that he would prefer to see this war go on, perhaps, as Mr Biden said, indefinitely.

Hamas leaders understood this dichotomy immediately, and played on it, saying that they would accept the proposal as long as Israel “agreed to end the war”. Their intention is obvious: to exploit and exacerbate the split between Mr Biden and Mr Netanyahu and, indeed, between the US and Israel in general, over the continuation and purpose of the war. However, Hamas leaders in Gaza almost certainly also want the war, which they apparently believe is going according to plan, to continue indefinitely. The insurgency and “permanent state of war” they intended all along has already begun in Gaza city and elsewhere, after all.

Mr Netanyahu tried to manage the latest crisis with Washington caused by his intransigence by saying he is open to phase 1, which includes a 42-day pause in fighting in exchange for return of many remaining hostages. But he insisted that Mr Biden had not presented “the whole picture” in his speech. Once again, however, it was clear that he did not embrace the logic of Mr Biden’s three-phase plan or his goal of securing an end to the war.

Mr Netanyahu not only effectively rejected Mr Biden’s proposal, he also batted aside the opportunity to blame his extremist coalition partners for the Israeli refusal to co-operate, welcoming the opportunity to play that role himself. However, Mr Smotrich and Mr Ben-Gvir refused to allow him to monopolise Israeli hawkishness, threatening to leave and bring down the government if it ever agreed to what both of them separately described as a “surrender”.

Mr Biden and his administration will continue to pressure Mr Netanyahu, the entire Israeli leadership and even the Israeli public to get behind this proposal that he unconvincingly claims was their own offer, but his chances look decidedly slim.

Mr Netanyahu has clearly decided that the best way to stay out of prison, given that he is facing serious corruption charges in an ongoing trial, is to stay in office, and the best way to remain in power is to continue the war into the foreseeable future. Mr Biden implied as much in a recent interview with TIME magazine. And Mr Netanyahu is unlikely to risk losing his coalition and face incarceration just to please Washington.

The rift between the Israeli government and Mr Biden, and indeed between Israel and the US, over Gaza – not to mention a possible invasion of Lebanon and the necessity of creating a Palestinian state – appears to be widening at every phase.

This is not, as I’ve noted on these pages before, an ordinary rift in the US-Israeli partnership. It has, instead, all the makings of the beginning of the end of the “special relationship” that has existed between the two countries since the late 1960s. And, as things stand, it’s only likely to get worse over time.

Live updates: follow the latest on the Israel-Gaza war

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Dubai College A 50-12 Dubai College B

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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BELGIUM%20SQUAD
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How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

MATCH INFO

Chelsea 0

Liverpool 2 (Mane 50', 54')

Red card: Andreas Christensen (Chelsea)

Man of the match: Sadio Mane (Liverpool)

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

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MATCH INFO

Champions League last 16, first leg

Tottenham v RB Leipzig, Wednesday, midnight (UAE)

Drivers’ championship standings after Singapore:

1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

Brief scores:

Pakistan (1st innings) 181: Babar 71; Olivier 6-37

South Africa (1st innings) 223: Bavuma 53; Amir 4-62

Pakistan (2nd innings) 190: Masood 65, Imam 57; Olivier 5-59

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Countries offering golden visas

UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.

Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.

Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.

Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence. 

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

Turkish Ladies

Various artists, Sony Music Turkey 

Long read

Mageed Yahia, director of WFP in UAE: Coronavirus knows no borders, and neither should the response

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

While you're here
The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
New schools in Dubai
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F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
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  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Company%20profile
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ASSASSIN'S%20CREED%20MIRAGE
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WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

Results:

6.30pm: Maiden Dh 165,000 1,400m.
Winner: Walking Thunder, Connor Beasley (jockey), Ahmad bin Harmash (trainer).

7.05pm: Handicap (rated 72-87) Dh 165,000 1,600m.
Winner: Syncopation, George Buckell, Doug Watson.

7.40pm: Maiden Dh 165,000 1,400m.
Winner: Big Brown Bear, Pat Dobbs, Doug Watson.

8.15pm: Handicap (75-95) Dh 190,000 1,200m.
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8.50pm: Handicap (85-105) Dh 210,000 2,000m.
Winner: New Trails, Connor Beasley, Ahmad bin Harmash.

9.25pm: Handicap (75-95) Dh 190,000 1,600m.
Winner: Pillar Of Society, Pat Dobbs, Doug Watson.

ELECTION%20RESULTS
%3Cp%3EMacron%E2%80%99s%20Ensemble%20group%20won%20245%20seats.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20second-largest%20group%20in%20parliament%20is%20Nupes%2C%20a%20leftist%20coalition%20led%20by%20Jean-Luc%20Melenchon%2C%20which%20gets%20131%20lawmakers.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20far-right%20National%20Rally%20fared%20much%20better%20than%20expected%20with%2089%20seats.%3C%2Fp%3E%0A%3Cp%3EThe%20centre-right%20Republicans%20and%20their%20allies%20took%2061.%3C%2Fp%3E%0A
Updated: June 05, 2024, 3:15 PM