Palestinian Latifa Ahmed, center, holds a picture of her late son Issam Badran during his funeral in the West Bank village of Qusra Saturday. Badran was shot dead during a clash with Israeli soldiers and settlers.
Palestinian Latifa Ahmed, center, holds a picture of her late son Issam Badran during his funeral in the West Bank village of Qusra Saturday. Badran was shot dead during a clash with Israeli soldiers Show more

More negotiations ahead for Palestinian statehood bid



NEW YORK // As the dust settles at the United Nations headquarters, the only thing that seems clear is that much is still to be determined.

The Palestinian bid for statehood will now go through a process at the Security Council that can take anywhere from days to months. On Monday, members will meet to discuss the Palestinian application.

What appears certain is that, for now, most countries want to avoid a controversial and potentially divisive vote. So, they are inclined to give efforts to reconvene direct peace talks a chance.

Palestinian officials say they want a vote as soon as possible, but it is not clear they will be able to force the issue. And even if they did, the Palestinians do not, in spite of earlier claims to the contrary, have the support of the nine members of the 15-member council needed to force the US to cast a veto, which it is trying to avoid.

One option for the Palestinians is to go to the General Assembly to ask for support to become a non-state member, the second-best option that would at least give the Palestinians a confidence-boosting majority there.

In the meantime, efforts to restart negotiations will gather pace. The Quartet of Middle East mediators - the US, Russia, the EU and the UN - released a statement Friday that set a one-month deadline for a "preparatory meeting" between the parties to agree on an agenda for negotiations, and a six-month timeline for "substantial progress".

But neither the Quartet statement nor US officials in briefings to journalists have spelt out what would happen if the time frames are not met.

Moreover, Mahmoud Abbas, the Palestinian leader, told reporters yesterday on his way back to Ramallah from New York that, "we will not deal with any initiative" that does not address the issue of Israeli settlement construction in occupied territory or base a framework for territorial negotiations on 1967 borders.

The Quartet statement mentioned neither. And Benjamin Netanyahu, the Israeli prime minister, has dismissed the Palestinian position as a "precondition" and is urging the Palestinians to "stop negotiating about negotiating".

A resumption of negotiations thus looks very difficult at the moment, said Daoud Kuttab, a Palestinian analyst.

"There is very little trust about the willingness and the desire of the Israelis and the Americans to make serious concessions. So the Palestinian position is going to try to be positive without being reckless."

Mr Kuttab said it all comes down to behind-the-scenes negotiations, where there "will be attempts to test the waters … to see what the other side has in terms to progress things".

But it will take a lot for Palestinians to be swayed, especially as faith in American mediation appears to have been lost, said Mark Perry, a Washington-based military and political analyst.

"The Palestinian bid at the UN signalled the collapse of the Oslo process and the collapse of American mediation," Mr Perry said. "The only problem is, who else but the US is there?"

Indeed, it is US diplomacy on the conflict, and perhaps in the Middle East generally, that has emerged the biggest loser in the past few days.

Mr Abbas achieved something spectacular: he focused the world's attention on Palestinian rights rather than West Bank or Gaza violence and managed to eclipse Israel's well-oiled public relations machine.

By the time Mr Netanyahu took to the podium at the UN's General Assembly on Friday, he looked and sounded defensive. He even started his speech by insulting the world leaders in his audience, calling them participants in a "theatre of the absurd".

But, in practice, both leaders just restated their positions, even if Mr Abbas did so to better effect. It is US mediation efforts that appears to have emerged damaged.

Mr Obama angered not only Palestinians with his speech on Wednesday - in which he announced that the US would veto the Palestinian statehood bid if the US had to - he also created the impression that the US had lost its way, praising people's aspirations for freedom and democracy in the countries of the Arab Spring, yet being willing to block Palestinian aspirations for independence.

"He completely caved in to the Israeli position," said Mr Perry. Washington, now, "is adrift. There is no Middle East policy".

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

ICC Women's T20 World Cup Asia Qualifier 2025, Thailand

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

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Score

Third Test, Day 1

New Zealand 229-7 (90 ov)
Pakistan

New Zealand won the toss and elected to bat

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

MATCH INFO

Uefa Champions League semi-final, first leg

Bayern Munich 1
Kimmich (27')

Real Madrid 2
Marcelo (43'), Asensio (56')

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Fight card

Bantamweight

Siyovush Gulmamadov (TJK) v Rey Nacionales (PHI)

Lightweight

Alexandru Chitoran (ROM) v Hussein Fakhir Abed (SYR)

Catch 74kg

Tohir Zhuraev (TJK) v Omar Hussein (JOR)

Strawweight (Female)

Weronika Zygmunt (POL) v Seo Ye-dam (KOR)

Featherweight

Kaan Ofli (TUR) v Walid Laidi (ALG)

Lightweight

Leandro Martins (BRA) v Abdulla Al Bousheiri (KUW)

Welterweight

Ahmad Labban (LEB) v Sofiane Benchohra (ALG)

Bantamweight

Jaures Dea (CAM) v Nawras Abzakh (JOR)

Lightweight

Mohammed Yahya (UAE) v Glen Ranillo (PHI)

Lightweight

Alan Omer (GER) v Aidan Aguilera (AUS)

Welterweight

Mounir Lazzez (TUN) Sasha Palatnikov (HKG)

Featherweight title bout

Romando Dy (PHI) v Lee Do-gyeom (KOR)

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