Protesters in Tel Aviv call for Netanyahu to agree a deal for Hamas to release Israeli hostages, on August 31. AP
Protesters in Tel Aviv call for Netanyahu to agree a deal for Hamas to release Israeli hostages, on August 31. AP
Protesters in Tel Aviv call for Netanyahu to agree a deal for Hamas to release Israeli hostages, on August 31. AP
Protesters in Tel Aviv call for Netanyahu to agree a deal for Hamas to release Israeli hostages, on August 31. AP


More hostage deaths show how little Israel's war can achieve


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September 02, 2024

Having received the news on Saturday night that six Israeli hostages’ bodies were recovered from Gaza, Israel’s President, Isaac Herzog, apologised “for failing to bring them home safely”. For nearly a year, Israel has been gripped by the fates of those who were taken captive by Hamas during a murderous assault against mostly civilian targets in Israel on October 7. Ninety-seven are thought to remain in Gaza.

The Hostage Families Forum has accused Israel’s Prime Minister, Benjamin Netanyahu, of “abandoning” their loved ones by prioritising an unwinnable war in Gaza over the diplomacy needed to reach a ceasefire and see more hostages released. Mr Netanyahu says his government’s invasion of Gaza, nearing the end of its eleventh month, aims to free the hostages through a combination of rescue operations and military pressure on Hamas.

Of the 251 Israelis and foreign citizens kidnapped on October 7, 117 have been returned alive. Only eight of them were rescued by the Israeli military; 105 were released through a diplomatically brokered prisoner exchange and four were released by Hamas on humanitarian grounds. Mr Netanyahu’s “military pressure” strategy has not forced the release of a single hostage, though it has killed more than 40,000 Palestinians and devastated the lives of close to two million Gazans.

Netanyahu’s 'military pressure' has not forced the release of a single hostage, though it has killed more than 40,000 Palestinians

Sunday marked the start of a three-day pause in Israeli military operations in Gaza, during which Israel has agreed to allow the UN to run a polio vaccination drive after initially rejecting it. The effort, funded in part by the UAE, will see 640,000 children under the age of 10 vaccinated against the virus, which emerged in Gaza this year for the first time in a quarter of a century.

The vaccination campaign is a positive development in a very dire situation, and would not have been necessary had Israel abided by its obligations under international humanitarian law during the war. It should also be used to bring renewed focus on the need for a ceasefire deal, but Israel has already undermined that opportunity by extending the conflict to the West Bank. Last week, the military launched an offensive in several West Bank towns, killing at least 20 Palestinians, including civilians, and raising fears of a second front being opened. The tension has been compounded by news in recent months of abuse of Palestinian detainees held in Israeli military prisons.

The increasingly fraught atmosphere in Israel extends to the government. A security cabinet meeting on Thursday night discussing the latest developments in ceasefire talks brokered by Qatar, the US and Egypt reportedly turned into a shouting match between Mr Netanyahu and his Defence Minister, Yoav Gallant. The point of contention was Mr Netanyahu’s plans for Israeli soldiers to continue occupying the Philadelphi Corridor, the boundary between Gaza and Egypt, despite Hamas and Egypt’s objections. Continued Israeli occupation in the corridor would not only violate previous agreements on how the Egypt-Gaza border is managed but also diminish the prospect of any long-term peace; a final settlement between Palestinians and Israelis requires less Palestinian territory under Israeli occupation – not more.

Mr Gallant suggested that offering some compromise on the issue would make a hostage deal more likely. Mr Netanyahu allegedly said holding Philadelphi was more important than that.

Perhaps the most striking element of the cabinet meeting was Mr Gallant’s warning that, one way or another, Mr Netanyahu would eventually be forced to give in to Hamas’s demands. Such a dire prediction from the country’s own Defence Minister speaks volumes about the prospect of Israel achieving any of its aims. In the meantime, the likelihood of more tragedies, like the deaths of Israeli hostages and many more innocent Palestinian civilians, only grows.

The Intruder

Director: Deon Taylor

Starring: Dennis Quaid, Michael Ealy, Meagan Good

One star

Match info:

Portugal 1
Ronaldo (4')

Morocco 0

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.”

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

MATCH INFO

Red Star Belgrade v Tottenham Hotspur, midnight (Thursday), UAE

UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid

Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona

Liz%20Truss
%3Cp%3EMinisterial%20experience%3A%20Current%20Foreign%20Secretary.%0D%3Cbr%3E%0DWhat%20did%20she%20do%20before%20politics%3F%20Worked%20as%20an%20economist%20for%20Shell%20and%20Cable%20and%20Wireless%20and%20was%20then%20a%20deputy%20director%20for%20right-of-centre%20think%20tank%20Reform.%0D%3Cbr%3E%0DWhat%20does%20she%20say%20on%20tax%3F%20She%20has%20pledged%20to%20%22start%20cutting%20taxes%20from%20day%20one%22%2C%20reversing%20April's%20rise%20in%20National%20Insurance%20and%20promising%20to%20keep%20%22corporation%20tax%20competitive%22.%3C%2Fp%3E%0A
RESULT

Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Key fixtures from January 5-7

Watford v Bristol City

Liverpool v Everton

Brighton v Crystal Palace

Bournemouth v AFC Fylde or Wigan

Coventry v Stoke City

Nottingham Forest v Arsenal

Manchester United v Derby

Forest Green or Exeter v West Brom

Tottenham v AFC Wimbledon

Fleetwood or Hereford v Leicester City

Manchester City v Burnley

Shrewsbury v West Ham United

Wolves v Swansea City

Newcastle United v Luton Town

Fulham v Southampton

Norwich City v Chelsea

Indoor Cricket World Cup

Venue Insportz, Dubai, September 16-23

UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The biog

Prefers vegetables and fish to meat and would choose salad over pizza

Walks daily as part of regular exercise routine 

France is her favourite country to visit

Has written books and manuals on women’s education, first aid and health for the family

Family: Husband, three sons and a daughter

Fathiya Nadhari's instructions to her children was to give back to the country

The children worked as young volunteers in social, education and health campaigns

Her motto is to never stop working for the country

Pieces of Her

Stars: Toni Collette, Bella Heathcote, David Wenham, Omari Hardwick   

Director: Minkie Spiro

Rating:2/5

Updated: September 02, 2024, 4:20 AM