Biden's humiliation shows futility of US peace talks


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'To wipe the spit off his face," the Israeli journalist Akiva Eldar wrote on Friday, "Biden had to say it was only rain." That, said Eldar, was why the US vice president Joe Biden ended up commending the Israeli prime minister Benjamin Netanyahu's "handling" of what had been universally interpreted as his public humiliation at the hands of the Israeli government. Washington's latest peace effort was mocked by the announcement of plans for new Israeli settlements in East Jerusalem on the same day that Mr Biden had publicly expressed Washington's unswerving support for Israel and announced a plan for "indirect" negotiations between Israel and the Palestinians.

Even before the Israeli announcement, the "proximity" talks - in which the two sides, no longer able to find their way to a negotiating table, would now discuss a two-state solution via American go-betweens - had been widely recognised as of limited value. The Israelis had successfully resisted the Obama administration's demand that they demonstrate their seriousness by halting construction on land conquered in 1967; their purpose in indulging the "proximity" process, one senior Israeli official said, was simply to create an atmosphere more conducive to challenging Iran. The Arab League gave conditional backing to the talks, with a deadline of just four months, despite what the secretary general Amr Moussa called the league's "lack of conviction in the seriousness of the Israeli side".

But the fact that Israel chose Mr Biden's visit to declare new plans to expand its occupation of East Jerusalem was deemed so provocative that the Americans were forced to condemn it - or at least, condemn its timing - as "undermining trust" in the peace process. As US and Israeli papers reported on Mr Biden's humiliation, the Israelis hastily apologised for the timing of the announcement - but never for its content: Mr Netanyahu has no intention of stopping the expansion of settlements in the Holy City, because he has publicly declared his refusal to cede control of East Jerusalem in any peace agreement. While the timing of the announcement may have embarrassed their guest, Israel's minister of public affairs Yuli Edelstein told The New York Times: "It is also very important to make things clear and not to play make-believe. Prime Minister Netanyahu and others have been saying loud and clear that according to Israeli law Jerusalem is sovereign Israeli territory, so no special commissions are needed to build within the municipal borders of Jerusalem. There will not be in the foreseeable future an Israeli government willing to divide Jerusalem. Normally our friends in Washington understand that."

The US position, of course, is that East Jerusalem is occupied territory, and that final-status talks must include the issue of sharing the city both sides claim as their capital. But the Israeli message is clear: we're happy to go through the motions of a peace "process" in order to satisfy the Americans and focus their attention on Iran. But don't hold your breath waiting for Israel to accept a sovereign, independent Palestinian state based on the 1967 borders, with East Jerusalem as its capital - the generally accepted formula for a two-state solution.

The Palestinian Authority leadership, and its Arab backers, know this, of course; they, too, were going through the motions of the Obama administration's latest peace effort, hoping to simply demonstrate to the Americans that the Israelis are not serious. But even though the Israelis proved their point even before the talks got underway, the Americans remain determined to continue with the "proximity" talks for which they have greater enthusiasm than either of the two parties.

The promise of the "peace process" had always been that bilateral talks between Israel and the Palestinians would produce agreement on creating a viable Palestinian state alongside Israel. It turns out, however, that this is simply no longer true. Israel has decided it can live with the status quo, and as its political median has shifted steadily to the right and the settler movement has made gains into government, the assumptions of two decades ago no longer hold. And the Israeli government believes it has sufficient support on both sides of the aisle in the US Congress that it can resist any pressure from the White House.

Conventional wisdom in Israeli politics once held that no Israeli government would survive a clash with the United States; today, Mr Netanyahu is confident that if it came to a showdown, he could make an end run around the Obama administration and win the battle for Capitol Hill. And, of course, the Israelis are betting that the 2012 US election will restore the Republicans to the White House. So, the Obama administration finds itself politically unable to press Mr Netanyahu into the concessions necessary to restart a credible peace process, even though America's own interests require one. The Israeli daily Yediot Ahronot claimed on Thursday that Mr Biden had sharply castigated the Israelis behind closed doors, reportedly warning them: "What you're doing here undermines the security of our troops who are fighting in Iraq, Afghanistan and Pakistan. That endangers us, and it endangers regional peace."

Perhaps, but in public US officials insisted that the "proximity" talks remained on track, even though the Israelis have made amply clear that they won't lead anywhere. The Obama administration is more inclined to maintain the illusion of a peace process than to frankly acknowledge that there's no agreement to be had through bilateral negotiations. The Israelis are fine with that, but Mr Biden's visit carried a grim message for the Palestinian Authority and their Arab backers - and, indeed, for dovish Israelis like Akiva Eldar - for whom it demonstrated the futility of waiting for the United States to deliver an end to the Israeli occupation.

Tony Karon is an analyst based in New York who blogs at www.tonykaron.com.

Closing the loophole on sugary drinks

As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.

The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.

Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.

Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
 

Not taxed:

Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates

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.”

MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

if you go
Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

Europe's top EV producers
  1. Norway (63% of cars registered in 2021)
  2. Iceland (33%)
  3. Netherlands (20%)
  4. Sweden (19%)
  5. Austria (14%)
  6. Germany (14%)
  7. Denmark (13%)
  8. Switzerland (13%)
  9. United Kingdom (12%)
  10. Luxembourg (10%)

Source: VCOe 

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Slow loris biog

From: Lonely Loris is a Sunda slow loris, one of nine species of the animal native to Indonesia, Malaysia, Thailand and Singapore

Status: Critically endangered, and listed as vulnerable on the International Union for Conservation of Nature red list due to growing demand in the global exotic pet trade. It is one of the most popular primate species found at Indonesian pet markets

Likes: Sleeping, which they do for up to 18 hours a day. When they are awake, they like to eat fruit, insects, small birds and reptiles and some types of vegetation

Dislikes: Sunlight. Being a nocturnal animal, the slow loris wakes around sunset and is active throughout the night

Superpowers: His dangerous elbows. The slow loris’s doe eyes may make it look cute, but it is also deadly. The only known venomous primate, it hisses and clasps its paws and can produce a venom from its elbow that can cause anaphylactic shock and even death in humans