Israeli Prime Minister Benjamin Netanyahu said the Abraham Accord marked a "warm" peace with the UAE that had led to a surge in economic opportunities, as diplomats made the first moves towards restarting the stalled Palestinian-Israeli peace process.
Addressing the World Economic Forum's Davos 2021 on Wednesday, he said agreements on normalisation of relations with the UAE, Bahrain, Sudan and Morocco would change the region in a positive way.
"Everyone in Israel is supremely delighted with the peace that we have," Mr Netanyahu said.
“It’s going to be great because the Emirates have proved to be – as I’ve always seen them – tremendously entrepreneurial, and they’re guided by a visionary leader [who] understands the power of innovation and the power to dare, to dream,” the veteran Israeli leader said in his virtual address.
Mr Netanyahu described a “new kind of peace that is changing relations between Israelis and Arabs, and I have to tell you, Arabs and Jews in Israel too. I means it’s unbelievable what this is doing.”
As the prime minister was speaking, officials in New York were briefed on new efforts to revive the peace process between Israelis and Palestinians by inviting Arab ministers to talks on the decades-old conflict with the UN, US and European Union in the coming months.
Russia’s deputy UN ambassador Dmitry Polyanskiy told reporters that Jordan, Egypt, Saudi Arabia, the UAE and Bahrain could join the Quartet format that has seen the US, EU, Russia and the UN attempt to broker agreements. The Arab representatives could be invited to a “Quartet plus” ministerial-level video conference in the late spring or early summer.
Mr Polyanskiy described an opportunity for renewed diplomacy after “encouraging initial signals” from US President Joe Biden, who has quickly distanced himself from the previous Trump administration’s deal-making, which favoured Israel and was rejected by Palestinians.
“Now we see some encouraging signals from the new administration that would be more devoted to collective efforts and formats
At the Davos meeting, the Israeli leader also spoke about Covid-19 pandemic and the vaccination drive that has seen Israel and the UAE emerge as global leaders. Israel has inoculate more 30 per cent of its population of nine million with at least a first dose.
The UAE has distributed 27.07 doses per 100 people of its population – or 2.67 million.
"We're in an arms race, except it's not an arms race, it's a race between vaccination and [virus] mutations?," Mr Netanyahu said.
He told Davos that Israel had purchased lots of vaccines fast and hadn't quibbled about the cost.
But he added that the most pressing issue at the moment is what level of protection the vaccine would give to individuals and how successful it would be in preventing infection when the economy opened up.
"There are more mutations and there will be more mutations in the future. It means we have to race as fast as we can to vaccinate first the risk groups in the population and then everyone else in order to give immunity, and then probably expect the companies that are producing the vaccines at this point to modify their vaccines to accommodate mutations that they don't cover now as they develop, and then we'll have to purchase them.
“That's going to be our life for the coming years. I don’t think that we’re going to evade that, but we can overcome it."
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The specs: Audi e-tron
Price, base: From Dh325,000 (estimate)
Engine: Twin electric motors and 95kWh battery pack
Transmission: Single-speed auto
Power: 408hp
Torque: 664Nm
Range: 400 kilometres
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
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UAE currency: the story behind the money in your pockets
Ashes 2019 schedule
August 1-5: First Test, Edgbaston
August 14-18: Second Test, Lord's
August 22-26: Third Test, Headingley
September 4-8: Fourth Test, Old Trafford
September 12-16: Fifth Test, Oval
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
UAE currency: the story behind the money in your pockets
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The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
- Max Dowman (Arsenal)
15 years, 235 days old
- Jeremy Monga (Leicester)
15 years, 271 days old
- Harvey Elliott (Fulham)
16 years, 30 days old
- Matthew Briggs (Fulham)
16 years, 68 days old
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Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
