Israeli Prime Minister Benjamin Netanyahu’s speech in Washington seemed primarily for domestic consumption, but even many Israelis were left disappointed by its content. Bloomberg
Israeli Prime Minister Benjamin Netanyahu’s speech in Washington seemed primarily for domestic consumption, but even many Israelis were left disappointed by its content. Bloomberg
Israeli Prime Minister Benjamin Netanyahu’s speech in Washington seemed primarily for domestic consumption, but even many Israelis were left disappointed by its content. Bloomberg
Israeli Prime Minister Benjamin Netanyahu’s speech in Washington seemed primarily for domestic consumption, but even many Israelis were left disappointed by its content. Bloomberg


America holds the cards in the US-Israel relationship. It should behave that way


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July 26, 2024

When Israeli Prime Minister Benjamin Netanyahu addressed a joint meeting of the US Congress on Thursday, he began by telling the assembled legislators they were meeting “at a crossroads of history”. Mr Netanyahu is right about that, albeit for entirely the wrong reasons.

What he failed to acknowledge is that the cause of Palestine has rarely attracted so much righteous support from the international community as it does today.

It is only a week since the International Court of Justice ruled that that Israel's presence in the occupied Palestinian territories is illegal. Another case at the ICJ, accusing Israel of genocide, is continuing and on Friday, the UK said it would no longer be challenging International Criminal Court arrest warrant proceedings for Mr Netanyahu and Israeli Defence Minister Yoav Gallant.

In addition, seven more UN member states recognised the state of Palestine this year and protests against the war in Gaza are a regular feature in many national capitals – including Washington, where pro-Palestinian demonstrators made their voices heard outside the Capitol building as Mr Netanyahu delivered his address.

In contrast, Israel’s current political class increasingly finds itself on the wrong side of history. On July 17, the same day that UN Secretary General Antonio Guterres told the Security Council that Israeli land grabs in the occupied West Bank were “driving a stake through the heart of any prospect for a two-state solution”, members of the country’s parliament overwhelmingly voted against the establishment of a Palestinian state – not just at this juncture, but even as part of an eventual political settlement. Days later, Israeli politicians approved the first reading of three bills to sever all relations with the UNRWA, the UN agency responsible for providing vital services for Palestinian refugees across the Middle East.

Mr Netanyahu’s speech in Washington seemed primarily for domestic consumption in Israel, where it was broadcast in the early evening. But even many Israelis were left disappointed by its content. There was little mention – if any – of the need for a ceasefire, a Palestinian state or, most notably, US President Joe Biden’s three-phase peace plan, a credible proposal that received backing from the UN Security Council on June 10.

The rising death toll in Gaza and the continuing plight of the remaining Israeli hostages shows that a new way forward is needed, particularly regarding the US-Israel relationship

Some in Mr Biden’s party have been irked not only by this intransigence from an ally, but by the unfolding horrors of the war in Gaza; Mr Netanyahu’s speech was boycotted by several Democratic legislators. But it is revealing that the Israeli leader felt able to ignore Mr Biden’s internationally endorsed peace plan while repeating the illusory line of “total victory” over Hamas.

The rising death toll in Gaza and the continuing plight of the remaining Israeli hostages shows that a new way forward is needed, particularly regarding the US-Israel relationship. The coming US presidential election provides an opportunity for a reset, with a chance for whoever wins in November to rewrite the script and rebalance the relationship – in reality, it is the US that holds the cards, and it is past time it behaved that way.

The alternative to a peace plan is continuing violence and occupation in Gaza that is in danger of becoming a forever war, the permanent displacement of Israeli and Arab civilians and a hiatus on regional bridge building. We are at a crossroads of history, but this conflict is stuck in a dead end. The time to find a way out is long overdue.

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

The specs: 2017 Lotus Evora Sport 410

Price, base / as tested Dh395,000 / Dh420,000

Engine 3.5L V6

Transmission Six-speed manual

Power 410hp @ 7,000rpm

Torque 420Nm @ 3,500rpm

Fuel economy, combined 9.7L / 100km

Red Sparrow

Dir: Francis Lawrence

Starring: Jennifer Lawrence, Joel Egerton, Charlotte Rampling, Jeremy Irons

Three stars

How being social media savvy can improve your well being

Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.

As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.

Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.

Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.

Torrena said that “most people believe that dieting and keeping fit is boring”.

However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.

“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.

People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

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 Limehouse Golem
Director: Juan Carlos Medina
Cast: Olivia Cooke, Bill Nighy, Douglas Booth
Three stars

UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.

No Shame

Lily Allen

(Parlophone)

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.”

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. 

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Updated: July 29, 2024, 6:15 PM