The killing of 10 Palestinians by Israeli forces and thousands of injuries have scarred villagers in Beita in the occupied West Bank, where residents are counting the toll of a year of protests.
“I attended the first day of the school year, I went to their classroom and there was one empty seat. They had put a photo on it,” said Said Hamayel, 49, whose son Muhammad was shot dead in June.
“All his friends were present and were really affected," he said. "They started to cry over their loss."
Muhammad Hamayel, 16, was one of 10 Palestinians who paramedics have recorded being shot dead by Israeli soldiers in the past year.
Beita lies south of Nablus, beside a major road that cuts through the West Bank and below hills dotted with olive trees.
On one of those hilltops last spring, Israelis arrived and started building. Within weeks there were breezeblock homes, tarmac over the earth and a playground.
While the international community deems all Israeli settlements in the West Bank illegal, Israel’s government distinguishes between those it approves and ones its citizens build without permission.
Although the settlement outpost was deemed illegal under Israeli law, soldiers were stationed at the site while Palestinians from Beita demonstrated on the slopes opposite.
Protesting against what they saw as the theft of their community’s land, much of the village youth took to the hillside.
“Muhammad was very ambitious and had big hopes … [he] wanted to study international law,” said his father, sitting in the local municipality.
The teenager was shot in the heart, physicians from the Palestinian Red Crescent Society told The National.
Medics have treated more than 170 gunshot wounds in Beita over the past year, in addition to nearly 1,000 injuries from rubber bullets.
The Israeli military said the demonstrations represented a threat to civilians and troops.
Over the past year, “hundreds of Palestinian rioters set fires, burnt tyres and hurled rocks and explosive devices”, the military said.
“The IDF [Israeli Defence Forces] responded with riot-dispersal means and live fire in accordance with standard operational procedures.”
Many Palestinians have lost eyes, while other protesters are expected to suffer from lifelong medical problems after being shot in the knee.
Palestinian medics have recorded about 4,500 injuries from various types of tear gas over the year of violence.
“Some of the gas hurts your skin,” said Dr Abdel Jaleel Hunjul, who heads a field hospital established at the start of the protests.
“If you, for example, try to put some water [on your skin], it will be like hell. It will burn.”
The military used drones to drop vast quantities of tear gas on the demonstrators, while the canisters also hit ambulances, Dr Hunjul said.
Rallies continued despite the Israeli settlers evacuating the site last summer, under an agreement that the buildings would remain while authorities decide whether they can return.
Sitting in the Red Crescent centre in Beita, Dr Hunjul flicks through photos and videos of the wounds he has seen in recent months.
One of the most severely wounded treated at the field hospital was a man in his 20s who was shot in the mouth.
“When he got to the hospital, [there was] blood everywhere. We started CPR, and he came back [to life],” Dr Hunjul said.
Among those they could not save was 15-year-old Ahmad Bani Shamsah, who had been shot in the head.
His grieving mother May Bani Shamsah, 37, said: "When I read the medical report about my son, it made my body shudder. His whole brain had exploded."
When the protests turned deadly, she had tried to prevent her son from joining in the demonstrations.
“We shut him in the house, we didn’t let him go out," she said. "There were serious clashes every day."
The number of people wounded in Beita protests has fallen in recent weeks, but there are fears of further violence if the Israeli government allows the settlers to return.
“When the settlers enter the hill, what will happen?" said Ms Bani Shamsah. "Of course, everyone will go to the hill.”
A track leading to the outpost was being guarded by soldiers, while a huge Israeli flag flew from the hilltop.
Sitting in her living room, Ms Bani Shamsah considered what her community has gone through over the past year.
“The village has changed a lot,” she said, beside pictures of her late son. “Today you feel that most of the village is sorrowful.”
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
Pros%20and%20cons%20of%20BNPL
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KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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RESULTS
5pm: Handicap (TB) Dh100,000, 2,400m
Winner: Recordman, Richard Mullen (jockey), Satish Seemar (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000, 2,200m
Winner: AF Taraha, Tadhg O’Shea, Ernst Oertel
6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000, 1,400m
Winner: Dhafra, Fabrice Veron, Eric Lemartinel
6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000, 1,400m
Winner: Maqam, Fabrice Veron, Eric Lemartinel
7pm: Handicap (PA) Dh85,000, 1,600m
Winner: AF Momtaz, Fernando Jara, Musabah Al Muhairi
7.30pm: Maiden (PA) Dh80,000, 1,600m
Winner: Optimizm, Patrick Cosgrave, Abdallah Al Hammadi
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.”
UAE currency: the story behind the money in your pockets
How The Debt Panel's advice helped readers in 2019
December 11: 'My husband died, so what happens to the Dh240,000 he owes in the UAE?'
JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.
“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”
November 26: ‘I owe Dh100,000 because my employer has not paid me for a year’
SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue.
SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."
October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'
MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.
“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December."
Company%20profile
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