Protests against Prime Minister Benjamin Netanyahu's proposed Immunity Law. Getty
Protests against Prime Minister Benjamin Netanyahu's proposed Immunity Law. Getty
Protests against Prime Minister Benjamin Netanyahu's proposed Immunity Law. Getty
Protests against Prime Minister Benjamin Netanyahu's proposed Immunity Law. Getty

Netanyahu seeks to subvert rule of law


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After winning a fifth term in office, Israeli Prime Minister Benjamin Netanyahu might think he is untouchable. The thousands of protesters who gathered on the streets of Tel Aviv over the weekend, however, would no doubt disagree. They massed in public amid claims Mr Netanyahu is trying to pass legislation to ensure he cannot be prosecuted while in power. The crowds of Israelis were protesting against a bill proposed in the Knesset by Likud member Miki Zohar, an ally of Mr Netanyahu, which would ensure the sitting prime minister was immune from prosecution. As pressure mounts on the prime minister to form a coalition before Wednesday's deadline – when he forfeits the right to form a government and the baton could be passed to another member of the Knesset – he is clearly feeling the heat. In February, attorney general Avichai Mandelblit announced his intention to indict Mr Netanyahu, pending a hearing in October. Now there are suggestions possible coalition partners are promising to support legislation protecting him from the law, in return for sweeteners. The Union of Right-Wing Parties, for example, has demanded an annexation-for-immunity deal to help him reach the right number of seats, whereby Mr Netanyahu commits to annexing large tracts of the West Bank.

Mr Netanyahu is no friend to Palestinians. He has frozen funds to the Palestinian Authority and ramped up the construction of illegal settlements and the demolition of Palestinian homes. It is therefore no surprise that he will consider trading their liberties for his own vested interests. The latest move from Likud, thought to be with his approval, shows he has no respect for the rule of law, whether it affects Israelis or Palestinians. It is a flagrant attempt to override democratic processes – so much so that his rival Benny Gantz went so far as to say: "There are those who are attempting to replace the people's rule with the rule of a single man and to enslave an entire nation to the interests of one man."

No political leader is above the law. It was the notion of an “imperial presidency” that led to Richard Nixon’s fall from grace in 1973. More than four decades on, US President Donald Trump insists he is unimpeachable. Rules of law are there for a reason: to protect the people and ensure those who govern them are beyond reproach. It is not yet clear what will happen to Mr Netanyahu or Mr Trump. But neither should they consider themselves immune, because complete protection from the law implies politicians can do as they wish, regardless of the consequences. Those who act with impunity can end up manipulating political systems for personal gain or for the benefit of a select few. Mr Netanyahu is learning that the support of the people who voted him in is not limitless but comes with responsibility and great expectations. He would be wise to realise if he continues to act in self-interest alone, his time could run out.

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Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

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.”

Results
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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
The biog

Favourite film: Motorcycle Dairies, Monsieur Hulot’s Holiday, Kagemusha

Favourite book: One Hundred Years of Solitude

Holiday destination: Sri Lanka

First car: VW Golf

Proudest achievement: Building Robotics Labs at Khalifa University and King’s College London, Daughters

Driverless cars or drones: Driverless Cars

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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Abi Andrews, Serpent’s Tail

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Ashraf Ghani 50.64 per cent

Abdullah Abdullah 39.52 per cent

Gulbuddin Hekmatyar 3.85 per cent

Rahmatullah Nabil 1.8 per cent

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How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.