Putin tells Abbas he backs two-state solution

MOSCOW // Russia supports the resumption of dialogue between Israel and Palestine, president Vladimir Putin said on Thursday, as his US counterpart, Donald Trump, prepares to visit Israel.

Mr Putin said Russia “will continue to give its full support to the resumption of direct dialogue between Palestinians and Israelis”, following talks with Palestinian leader Mahmoud Abbas in the southern Russian city of Sochi.

“The peaceful coexistence of the two states – Palestine and Israel – is an indispensable condition to ensure genuine security and stability in this region,” Mr Putin said.

Mr Abbas, meanwhile, said Palestine “values Russia’s counterterrorism efforts, as well as its contribution to strengthening security and stability in the Middle East, including in Syria”, Russia’s Ria Novosti state news agency reported.

After Mr Putin’s meeting with Mr Abbas, Russia’s defence ministry said Israeli defence minister Avigdor Lieberman had called his Russian counterpart, Sergei Shoigu, on Thursday.

The two ministers discussed defence cooperation between Russia and Palestine as well as regional security issues, the ministry said.

Mr Abbas said on Thursday that he welcomed “president Trump’s desire to help find a solution” to the Israel-Palestinian conflict, according to a transcript published by official Palestinian news agency Wafa.

“I told him that we were completely ready to cooperate with him and undertake efforts to reach a historical peace plan to end the conflict between us and the Israelis,” Mr Abbas added.

The Palestinian leader met with the US president at the White House on May 3.

Mr Abbas said on Tuesday that Mr Trump was expected to visit the Palestinian territories “soon” and that he was ready to meet Israel’s prime minister as part of the US president’s peace efforts.

Mr Trump is expected in Israel later this month as part of his first foreign trip. Mr Abbas said on Tuesday, “we are looking forward to his visit soon to Bethlehem” in the occupied West Bank, with speculation the visit will occur on May 23.

* Agence France-Presse

Dust and sand storms compared

Sand storm

Particle size: Larger, heavier sand grains
Visibility: Often dramatic with thick "walls" of sand
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Source: Open desert areas with strong winds

Dust storm

Particle size: Much finer, lightweight particles
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UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final

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Youth take centre stage for this year's Zayed Sustainability Prize

What is the Zayed Sustainability Prize?

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How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

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Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Brief scores:

Liverpool 3

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Manchester United 1

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Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)

COMPANY PROFILE

Name: Kumulus Water

Started: 2021

Founders: Iheb Triki and Mohamed Ali Abid

Based: Tunisia

Sector: Water technology

Number of staff: 22

Investment raised: $4 million

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Name: Hassan Mohsen Elhais

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

The 12 Syrian entities delisted by UK

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

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.”

Why seagrass matters

Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
Biodiversity: Support species like sea turtles, dugongs, and seabirds
Coastal protection: Reduce erosion and improve water quality

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Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024

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2. Anikka Sande (NOR) For Cash 2 39.09

3. Georgia Tame (GBR) Cash Up 39.42

4. Nadia Taryam (UAE) Askaria 3 39.63

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Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

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