Palestinians dig through the rubble of a building searching for bodies after an Israeli air strike at Shati (beach) refugee camp in Gaza City.    Finbarr O'Reilly  / Reuters
Palestinians dig through the rubble of a building searching for bodies after an Israeli air strike at Shati (beach) refugee camp in Gaza City. Finbarr O'Reilly / Reuters

France should resume its former role to help shift the EU’s policy on Israel



In recent weeks, people across the world have taken to the streets to protest against Israel's onslaught on Gaza. In Paris, thousands of protesters converged despite a ban, risking a prison sentence of up to six months. That authorities would go so far as to ban a march in solidarity with the Gazans underscores how sensitive the Israeli-Palestinian conflict has become in French politics. France is at the forefront of a wider trend in Europe in which increasingly diversified societies are demanding a different foreign policy course on the conflict.

Domestic issues aside, the protests raise questions about France’s ambiguous position on the Israel-Palestinian conflict. France, like the international community, has reached a moral and rhetorical impasse in trying to uphold a fictional balance between the two sides.

Yet France once played a singular role in the region. It was the late socialist president François Mitterrand who, as a friend of Israel, balanced France’s traditionally pro-Arab policy by seeking better ties with the Israelis. However, having witnessed the misery of the Gaza refugee camps, he spoke in 1982 before the Knesset of the need to accept a Palestinian state, almost 20 years before an American president did.

The time is ripe for a new policy now the peace process has floundered. As street scenes across Europe have shown, domestic political developments will soon demand it. The protests herald the rise of the “Gaza generation”, as the French daily Le Monde put it, that demands a values-based foreign policy for the Israeli-Palestinian conflict. Adding to the pressure is the close to 90 per cent of French Muslims who voted for François Hollande as president.

For religious and secular French Arabs, the Palestinian struggle is a powerful mobilising factor because of its symbolism. The anger expressed by third-generation French Arabs at their government’s inability to be on the right side of history is mirrored by their sense of alienation from their home country.

France, home to Europe’s largest Muslim and Jewish communities, also risks being contaminated by inter-religious strife. It is thus more important than ever to abandon France’s ambiguous position on the Israel-Palestinian struggle, which on these occasions acts as a catalyst for communal tensions.

While all French heads of state since Mitterrand supported the creation of a Palestinian state, none of them took significant action to help make it happen. Over the past decade especially, France’s distinctive voice in the region has become muddled. Under Nicolas Sarkozy, France strengthened political and economic ties with Israel, and pushed the EU to do the same. Mr Sarkozy also aligned himself closely with hardliners in Israel and the US on Iran. Mr Hollande has continued down the path set by his predecessor. In 2011, his Socialist Party called for the recognition of a Palestinian state, a call that has been ignored by Mr Hollande since taking office.

But Mr Hollande is struggling with Mitterrand’s legacy. In the past, France regularly challenged the western consensus on backing Israel unconditionally. It became an influential mediator, and Mitterand helped to turn Yasser Arafat’s Palestinian Liberation Organisation into a political force. Mitterrand is seen as the left’s moral compass, and he certainly would have denounced Israel’s flouting of international law.

Days before the protests, Mr Hollande declared that he refused to see the conflict “imported” to France. He fears a toxic brew of Islamophobia and anti-Semitism as already tense societal relations are superimposed with pro-Palestinian and pro-Israeli sentiments. Yet, the government has only further internalised a conflict around which opinions have hardened in recent years while both anti-Semitic and Islamophobic attacks are on the rise.

Prime minister Manuel Valls created a disconcerting amalgamation by claiming a “new” anti-Semitism played a role in the protests. There are also concerted efforts to link support for the Palestinians to a new breed of anti-Semitism in Europe.

The protests came at the back of the president’s jumbled communication on Operation Protective Edge. Many were surprised to see Mr Hollande give Benjamin Netanyahu a blank cheque to deal with Gaza as he pleased in a communiqué of support. No matter the hurried second statement expressing concern for civilian casualties without laying any blame, the impression was that France stood firmly behind Israel.

But increasingly, the Palestinian cause is gaining ground beyond Arab and Muslim circles, both in France and in Europe. Polls have found that the gap between European publics and their governments over policy towards Israel is growing. While the seeds for this swing were planted in the 2008 war on Gaza, the mood across Europe has turned against Israel and a tipping point possibly reached with the latest violence. As the conflict brought about a humanitarian catastrophe, France adopted an unusually tough tone with Israel, which might suggest the possibility of a less accommodating approach in the future.

Europe can have a huge impact on the conflict if it wants to. The EU is Israel’s largest trading partner and European pressure has been building, recently with moves to penalise Israel for its settlement policy. Yet, EU policy will not change if the “big three”, France, Germany and the United Kingdom, do not change their position. Europe has given up on the peace process and France might be in the best position to get it involved again.

What is certain is that sitting – or rather, wobbling – on the fence is an untenable option for France and other European states. With the conflict increasingly acting as a catalyst for clashes at home, the changing mood in European societies regarding Israel and the desire to return France to its singular place on the global stage, Mr Hollande would do well to channel more Mitterrand and less Sarkozy, and press the EU to get tough with Israel.

Bart Hesseling is a research analyst with the Delma Institute in Abu Dhabi, specialising in relations between Europe and the Arab world

RESULT

Los Angeles Galaxy 2 Manchester United 5

Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')

The biog

Family: Parents and four sisters

Education: Bachelor’s degree in business management and marketing at American University of Sharjah

A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls

Likes reading: autobiographies and fiction

Favourite holiday destination: Italy

Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning

Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes

Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure

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Pakistan: Sarfraz Ahmed (capt), Azhar Ali, Shan Masood, Sami Aslam, Babar Azam, Asad Shafiq, Haris Sohail, Usman Salahuddin, Yasir Shah, Mohammad Asghar, Bilal Asif, Mir Hamza, Mohammad Amir, Hasan Ali, Mohammad Abbas, Wahab Riaz

Sri Lanka: Dinesh Chandimal (capt), Lahiru Thirimanne (vice-capt), Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Sadeera Samarawickrama, Roshen Silva, Niroshan Dickwella, Rangana Herath, Lakshan Sandakan, Dilruwan Perera, Suranga Lakmal, Nuwan Pradeep, Vishwa Fernando, Lahiru Gamage

Umpires: Ian Gould (ENG) and Nigel Llong (ENG)
TV umpire: Richard Kettleborough (ENG)
ICC match referee: Andy Pycroft (ZIM)

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

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To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

Oppenheimer

Director: Christopher Nolan

Stars: Cillian Murphy, Emily Blunt, Robert Downey Jr, Florence Pugh, Matt Damon

Rating: 5/5

The years Ramadan fell in May

1987

1954

1921

1888

Teachers' pay - what you need to know

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

UAE currency: the story behind the money in your pockets