A general view of the Jewish settlement of Ateret west of the city of Ramallah in the occupied West Bank. Abbas Momani / AFP
A general view of the Jewish settlement of Ateret west of the city of Ramallah in the occupied West Bank. Abbas Momani / AFP

Israel’s festivities will highlight 50 years of shame



Israel is to hold lavish celebrations over the coming weeks to mark the 50th anniversary of what it calls the “liberation of Judea, Samaria and the Golan Heights” – or what the rest of us describe as the birth of the occupation.

The centrepiece event will take place in Gush Etzion, south of Jerusalem. The West Bank settlement “bloc” enjoys wide support in Israel, not least because it was established long ago by the supposedly left-wing Labour party, now heading the opposition.

The jubilee is a potent reminder that for Israelis, most of whom have never known a time before the occupation, Israel’s rule over the Palestinians seems as irreversible as the laws of nature. But the extravagance of the festivities also underscores the growth over five decades of Israel’s self-assurance as an occupier.

Documents found this month from Israel’s archives reveal that when Israel captured East Jerusalem in 1967, its first concern was to hoodwink the international community.

The foreign ministry ordered Israel’s ambassadors to mischaracterise its illegal annexation of East Jerusalem as a simple “municipal fusion”. To avoid diplomatic reprisals, Israel claimed it was necessary to ease the provision of essential services to the occupied Palestinian population.

Interestingly, those drafting the order advised that the deception was unlikely to succeed. The United States had already insisted that Israel commit no unilateral moves.

But within months Israel had evicted thousands of Palestinians from the Old City and destroyed their homes. Washington and Europe have been turning a blind eye to such actions ever since.

One of the Zionist movement’s favourite early slogans was: “Dunam after dunam, goat after goat”. The seizure of small areas of territory measured in dunams, the demolition of the odd home, and the gradual destruction of herding animals would slowly drive the Palestinians off most of their land, “liberating” it for Jewish colonisation. If it was done piecemeal, the objections from overseas would remain muffled. It has proved a winning formula.

Fifty years on, the colonisation of East Jerusalem and the West Bank is so entrenched that a two-state solution is nothing more than a pipe dream.

Nonetheless, US president Donald Trump has chosen this inauspicious moment to dispatch an envoy, Jason Greenblatt, to end the Israeli-Palestinian conflict.

In a “goodwill” response, Israeli prime minister Benjamin Netanyahu has unveiled a framework for settlement building. It is exactly the kind of formula for deception that has helped Israel consolidate the occupation since 1967.

Mr Netanyahu says expansion will be “restricted” to “previously developed” settlements, or “adjacent” areas, or, depending on the terrain, “land close” to a settlement.

Peace Now points out that the settlements already have jurisdiction over some 10 per cent of the West Bank, while far more is treated as “state land”. The new framework, says the group, gives the settlers a green light to “build everywhere”.

The Trump White House has shrugged its shoulders. A statement following Mr Netanyahu’s announcement judged the settlements no “impediment to peace”, adding that Israel’s commitments to previous US administrations would be treated as moot.

Effectively, the US is wiping the slate clean, creating a new baseline for negotiations after decades of Israeli changes stripping the Palestinians of territory and rights.

Although none of this bodes well, Egypt and Jordan’s leaders met Mr Trump this month to push for renewed talks between Israel and the Palestinians. The White House is said to be preparing to welcome the Palestinian president, Mahmoud Abbas. Some senior Palestinians are rightly wary. Abbas Zaki, a Fatah leader, fears Mr Trump will try to impose a regional solution on Arab states, over Mr Abbas’s head, designed to “eliminate the Palestinian cause altogether”.

David Ben Gurion, Israel’s founding father, reportedly once said: “What matters is not what the goyim [non-Jews] say, but what the Jews do.”

For nearly a quarter of a century, the Oslo accords dangled an illusory peace carrot that usefully distracted the global community as Israel nearly quadrupled its settler population, making even a highly circumscribed Palestinian state unrealisable. Now, that game plan is about to be revived in new form. While the US, Israel, Jordan and Egypt focus on the hopeless task of creating a regional framework for peace, Israel will be left undisturbed once again to seize more dunams and more goats.

In Israel, the debate is no longer simply about whether to build settler homes, or about how many can be justified. Government ministers argue instead about the best moment to annex vast areas of the West Bank associated with so-called settlement blocs such as Gush Etzion. Israel’s imminent celebrations should lay to rest any confusion that the occupation is still considered temporary. But when occupation becomes permanent, it metamorphoses into something far uglier.

It is past time to recognise that Israel has established an apartheid regime and one that serves as a vehicle for incremental ethnic cleansing. If there are to be talks, ending that outrage must be their first task.

Jonathan Cook is an independent journalist in Nazareth

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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COMPANY PROFILE
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Number of employees: 4

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.”

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

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Engine: 3.0-litre six-cylinder turbo
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THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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