• Palestinian protesters wave flags as Israeli troops take position during a protest against Jewish settlements in the West Bank village of Nabi Saleh, near Ramallah. Reuters
    Palestinian protesters wave flags as Israeli troops take position during a protest against Jewish settlements in the West Bank village of Nabi Saleh, near Ramallah. Reuters
  • Now that Prime Minister Benjamin Netanyahu has secured a new term in office, there’s little to prevent him from annexing large parts of the West Bank as early as this summer. AP
    Now that Prime Minister Benjamin Netanyahu has secured a new term in office, there’s little to prevent him from annexing large parts of the West Bank as early as this summer. AP
  • An Israeli soldier stands guard during a tour made by Israeli parliament members in the Jordan Valley near the Jewish settlement of Maale Efrayim. Reuters
    An Israeli soldier stands guard during a tour made by Israeli parliament members in the Jordan Valley near the Jewish settlement of Maale Efrayim. Reuters
  • Israeli soldiers take position as Palestinian demonstrators gather during a protest against expansion of Israeli settlements in the West Bank. AP
    Israeli soldiers take position as Palestinian demonstrators gather during a protest against expansion of Israeli settlements in the West Bank. AP
  • King Abdullah (r) of Transjordan on May 13, 1948 in Amman with Abed Al Rahman Azzam, the secretary general of the Arab League and Abd Al Elah Ibn Ali, the Prince Regent of Iraq, the day before the beginning of the first Arab-Israeli War. AFP
    King Abdullah (r) of Transjordan on May 13, 1948 in Amman with Abed Al Rahman Azzam, the secretary general of the Arab League and Abd Al Elah Ibn Ali, the Prince Regent of Iraq, the day before the beginning of the first Arab-Israeli War. AFP
  • Palestinians surrender to Israeli soldiers in June 1967 in the occupied territory of the West Bank after Israel launched a pre-emptive attack on Egypt and Syria and seized the Gaza Strip, Sinai Peninsula and the Golan Heights in Syria as well as the West Bank and Arab East Jerusalem. AFP
    Palestinians surrender to Israeli soldiers in June 1967 in the occupied territory of the West Bank after Israel launched a pre-emptive attack on Egypt and Syria and seized the Gaza Strip, Sinai Peninsula and the Golan Heights in Syria as well as the West Bank and Arab East Jerusalem. AFP
  • A Palestinian child plays in a refugee camp in Jordan on June 23, 1967. AFP
    A Palestinian child plays in a refugee camp in Jordan on June 23, 1967. AFP
  • PLO chairman Yasser Arafat delivers a speech to the Palestine National Council meeting to make the historic proclamation of a Palestinian state in the Israeli-occupied territories and to recognize Israel in the Palace of Nations conference hall on November 12, 1988, in Algiers. AFP
    PLO chairman Yasser Arafat delivers a speech to the Palestine National Council meeting to make the historic proclamation of a Palestinian state in the Israeli-occupied territories and to recognize Israel in the Palace of Nations conference hall on November 12, 1988, in Algiers. AFP
  • US President Bill Clinton stands between PLO leader Yasser Arafat and Israeli Prime Minister Yitzahk Rabin as they shake hands for the first time on September 13, 1993 at the White House. AFP
    US President Bill Clinton stands between PLO leader Yasser Arafat and Israeli Prime Minister Yitzahk Rabin as they shake hands for the first time on September 13, 1993 at the White House. AFP
  • Hussein Ibn Talal, King of Jordan and Israeli Premier Yitzhak Rabin shake hands after they exchanged the documents of the Peace Treaty at Beit Gabriel conference centre on November 10, 1994 on the southern shore of the Sea of Galilee. AFP
    Hussein Ibn Talal, King of Jordan and Israeli Premier Yitzhak Rabin shake hands after they exchanged the documents of the Peace Treaty at Beit Gabriel conference centre on November 10, 1994 on the southern shore of the Sea of Galilee. AFP
  • Palestinian President Mahmoud Abbas speaks during the Palestinian leadership meeting and threatened to end security coordination with Israel and the United States, saying Israeli annexation would ruin chances for peace. AFP
    Palestinian President Mahmoud Abbas speaks during the Palestinian leadership meeting and threatened to end security coordination with Israel and the United States, saying Israeli annexation would ruin chances for peace. AFP
  • Houses in the Israeli settlement of settlement of Kedumim are seen in the foreground as part of the Palestinian city of Nablus is seen in the background (far left) in the Israeli-occupied West Bank. Reuters
    Houses in the Israeli settlement of settlement of Kedumim are seen in the foreground as part of the Palestinian city of Nablus is seen in the background (far left) in the Israeli-occupied West Bank. Reuters
  • Israel's controversial concrete barrier (C) separating the Jewish settlement of Neve Yaakov (foreground) in the northern part of east Jerusalem and the Palestinian area of al-Ram (background) in the occupied West Bank. AFP
    Israel's controversial concrete barrier (C) separating the Jewish settlement of Neve Yaakov (foreground) in the northern part of east Jerusalem and the Palestinian area of al-Ram (background) in the occupied West Bank. AFP
  • An Israeli activist holds a banner during a protest against the US peace plan for the Middle East, in front of the US ambassador's residence in Jerusalem, on May 15, 2020, as Palestinians commemorate the 72nd anniversary of the 1948 Nakba or "catastrophe". AFP
    An Israeli activist holds a banner during a protest against the US peace plan for the Middle East, in front of the US ambassador's residence in Jerusalem, on May 15, 2020, as Palestinians commemorate the 72nd anniversary of the 1948 Nakba or "catastrophe". AFP
  • A Palestinian shepherd tends to his camels on arid land considered to be in "Area C" (under Israeli security and administrative control), southeast of Yatta town in the southern West Bank district of Hebron. AFP
    A Palestinian shepherd tends to his camels on arid land considered to be in "Area C" (under Israeli security and administrative control), southeast of Yatta town in the southern West Bank district of Hebron. AFP
  • A general view of the Israeli settlement of Elon Moreh, as seen from the Palestinian village of Azmout near the West Bank City of Nablus. EPA
    A general view of the Israeli settlement of Elon Moreh, as seen from the Palestinian village of Azmout near the West Bank City of Nablus. EPA
  • The West Bank Jewish settlement of Maale Michmash. AP
    The West Bank Jewish settlement of Maale Michmash. AP

Government

Sheikh Mohamed assures Jordanian king of solidarity and rejects Israel's annexation of Palestinian lands

In a phone call, the Crown Prince of Abu Dhabi said the UAE was working with Arab countries against the illegal move

The National

June 18, 2020

  • English
  • Arabic

The UAE fully supports Jordan and rejects the illegal annexation of Palestinian lands by Israel, Sheikh Mohamed bin Zayed told the Jordanian King Abdullah on Wednesday.

The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and King Abdullah shared a phone call, where they discussed the Israeli government's planned illegal annexation of Palestinian territories. They said this move breached international resolutions and undermined the prospects of peace in the Middle East.

Sheikh Mohamed said the UAE was working with Arab countries and the international community against this illegal move and its expected fallout.

He also reiterated the UAE's appreciation of Jordan's support for the Palestinian cause, noting the importance of continuing co-ordination between the two countries for the greater good of the two nations' peoples and the Arab nation at large, reported state news agency Wam.

"I assured King Abdullah, in our phone conversation, of the UAE's full solidarity with Jordan and our categorical rejection of accepting Israel's illegal annexation of Palestinian lands. We are working with our Arab brethren and the international community against this illegal move," Sheikh Mohamed said on Twitter.

The pair also discussed the "brotherly" relationship between the UAE and Jordan in addition to an array of regional and international issues of common concern.

On Tuesday, a group of almost 50 UN human rights specialists called Israel’s plan to annex nearly a third of the West Bank amounts to a "vision of a 21st Century apartheid".

They warned that the move would be a “serious violation” of international law and reinforce an "already unjust reality" as well as only intensifying human rights violations against Palestinians.

"What would be left of the West Bank would be a Palestinian Bantustan, islands of disconnected land completely surrounded by Israel and with no territorial connection to the outside world,” the experts said.

Israeli Prime Minister Benjamin Netanyahu aims to begin a process of applying Israeli sovereignty to Jewish settlements in the Jordan Valley and West Bank from July 1.

The US effectively gave its blessing for the move last year in President Trump's Middle East peace plan, which proposes to leave Palestine with the remaining 70 per cent of the West Bank, along with Gaza and part of East Jerusalem as its capital.

The Palestinians, who claim these lands in their entirety, have rejected the terms.

Israel captured the West Bank in the 1967 Arab-Israeli war and built dozens of settlements, which are illegal under international law.

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.”

Killing of Qassem Suleimani
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

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What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

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Real Betis v Sevilla, 10.45pm (UAE)

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Barcelona v Liverpool, Wednesday, 11pm (UAE).

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