The Palestinian cause would be much strengthened if the doors to Jerusalem were open to Arabs without persecution, said Palestine’s president Mahmoud Abbas.
He urged Arab countries to ease their restrictions on travelling to Israel and encourage their people to visit Jerusalem.
More than 20 countries have no diplomatic ties to Israel and refuse to recognise it as a state.
“Do not leave us alone. Going to Jerusalem is not going to Israel and supporting Israel. It is supporting Palestinians,” he said yesterday at the Al Azhar International Conference in Support of Jerusalem, which is taking place in Cairo.
"How can Palestine stand and resist if you cannot support us? This is the land of not only Muslims, but all religions.”
The status of Jerusalem is one of the most sensitive issues in the long-running conflict between Palestine and Israel. That status as regards the Palestinians is now under threat since US president Donald Trump’s announcement recognising the holy city as the capital of Israel, a move that was denounced by the UN and 128 countries.
Israel regards the whole city as its capital, while the Palestinians want the eastern sector as the capital of a future state. Israel occupied East Jerusalem at the same time as the West Bank in 1967 and annexed it in a move that was not recognised by the international community.
For Arabs, entering Jerusalem involves a lengthy and rigorous process and potentially serious problems at home.
Kuwait is among the 20 countries that do not recognise Israel as a state and Kuwaitis risk legal repercussions if they have an Israeli stamp in their passport.
But the country’s chief lawmaker, Marzouq Al Ghanim, said: “To support Jerusalem, we must first know it, its land, its people and its smell, not because it is Palestine’s capital, not because it is an essential part of our origins, not because it is the land of the holy people, but because it is crucial to the world.”
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Also read:
Year in review: What now for the Palestinians?
Palestinian leaders urge Abbas to withdraw recognition of Israel
Palestinian leader rebukes Trump: 'Shame on you'
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There have been 11 conferences since 1948 at Al Azhar – the primary seat of learning for the world’s Sunni Muslims – on the subject of resisting the Zionist occupation of Palestine but this one was the first in more than 30 years.
“I am fully aware that my words are not new, and that we have endured 70 years without changing any reality in the blood that has been spilled and the sacrifices experienced in Palestine, but these words come at a crucial moment,” said Ahmed Al Tayeb, the Grand Imam of Al Azhar.
He called on Arab, Muslim and Christian communities to support Palestine.
Mr Abbas stressed that support from Arab countries must continue, especially as faith in the UN wanes. The UN has passed 750 General Assembly resolutions and 86 Security Council decisions since 1948, but has done little to address Israel’s disregard for international law.
On Tuesday, Mr Trump announced a US$60 million cut in funding from the US to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), a historic reduction by the agency’s biggest donor.
The head of the agency said the cut in funding will affect regional security and could put vital health, educational and food services at risk.
“At stake is the dignity and human security of millions of Palestine refugees, in need of emergency food assistance and other support in Jordan, Lebanon, Syria, and the West Bank and Gaza Strip,” said UNRWA commissioner-general Pierre Krahenbuhl, calling for a global fundraising campaign to keep schools and clinics open through this year and beyond.
More than half of the two million residents of the Gaza Strip, where the unemployment rate is 46 per cent, depend on support from UNRWA and other humanitarian agencies.
The conference in Cairo brought together 68 countries to address the biggest challenges facing Palestinians. Although critics maintain such gatherings achieve little, Mr Al Ghanim of Kuwait, said failing to convene over Palestine would be akin to abandoning the cause.
“Some say that there is no need for conferences, but talks like these allow us to counter the Zionists who want us to forget Jerusalem, the Palestinian people, and the olive in our daily lives,” he said, referring to the olive tree as a symbol of the Palestinians’ attachment to their land.
Dr Fahed Al Shelaimi, chairman of the Gulf Forum for Peace and Security, said visiting Jerusalem would be integral to providing real financial and diplomatic support.
“You saw the speaker of the parliament, Marzouq Al Ghanim, sitting next to Mr Abbas, so I hope the issue of travelling is bought up, to make it easier to visit,” he said.
COMPANY PROFILE
Name: Kumulus Water
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Investment raised: $4 million
The specs
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Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
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Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
The specs: Volvo XC40
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Engine: 2.0-litre, turbocharged in-line four-cylinder
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A
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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