A long-standing mediator, Egypt is manoeuvring between Israel and the Palestinians to negotiate a durable truce to violence that has flared in the Gaza Strip in recent months – but with utmost discretion.
Deadly clashes since protests began along the Gaza border with Israel on March 30 have at times generated fears of a new war between Israel and the strip's Islamist rulers Hamas.
But on November 2, the frontier between the blockaded enclave and Israel had one of its calmest Fridays since the protest movement started.
At least 218 Palestinians have been killed in clashes with Israeli soldiers over the last seven months or so, according to a tally kept by AFP. One Israeli soldier has been shot dead in the violence.
The ongoing diplomatic efforts focus first and foremost on brokering an agreement that would see Hamas snuff out border protests in exchange for Israel softening its crippling decade-long blockade.
Egypt has been central to these moves, and the UN is also involved.
"We are working to ensure that there will never be any kind of armed conflict in the Strip and West Bank," Egypt's President Abdel Fattah El Sisi said on Sunday.
The indirect negotiations have been unfolding in great secrecy, and scant information has filtered out.
Egyptian media, including outlets close to the regime, has referred only to Palestinian sources or reports from Israel in its coverage of the talks.
"Egypt is continuing its efforts to achieve a durable calm," a Hamas source said, asking not to be named.
"There have been several meetings with the Hamas leadership and [other Palestinian] factions for this purpose."
An Egyptian diplomatic source said Gaza was high on the state's priority list.
"All Egyptian agencies are mobilised for the issue," he said, asking not to be named.
"The Egyptian authorities don't release information because the negotiations are ongoing," he added.
Hamas-Fatah rift
Egypt's intelligence service – rather than foreign ministry – is managing the Palestinian file.
"There are obviously diplomatic and political factors but to their minds [the Egyptians] the situation is a security one," said Zack Gold, a Middle East analyst at the US-based CNA research centre.
Since Egypt's military toppled Islamist president Mohamed Morsi and his Muslim Brotherhood movement in 2013, the north of the Sinai peninsula – which borders Gaza – has been hit by an ISIS insurgency.
In February, Egypt's military launched an offensive to neutralise the militants in Sinai, but Cairo has for years considered the entire area a security priority.
It has therefore been at the forefront of Gaza diplomacy since 2014, when the latest of three wars between Hamas and Israel took place in the Palestinian enclave.
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Calmer protests along Gaza border after Hamas ceasefire gesture
Hamas agrees to end protests along Israel-Gaza border
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Egyptian mediation yielded a ceasefire between Hamas and the Jewish state four years ago, but the fragility of that status quo has been tested regularly since then.
Despite Egypt's long-standing mistrust of Hamas – based on the Palestinian group's links to the Muslim Brotherhood – Cairo has regularly sent delegations to the Gaza Strip.
But beyond a ceasefire with Israel, reconciliation between Hamas and rival Palestinian faction Fatah is also essential to the success of Egypt's intervention, according to the Egyptian diplomatic source.
The Fatah-run Palestinian Authority headed by President Mahmud Abbas has semi-autonomy in parts of the occupied West Bank, but lost control of Gaza to Hamas in a near-civil war between the two in 2007.
On Saturday, President Abbas went to Egypt to discuss "the dangers posed to the Palestinian cause" with President El Sisi, according to a statement by the Egyptian presidency.
Just as with attempts to bridge the gap between Hamas and Israel, mediation between the two Palestinian factions has not yet yielded convincing results, said Mr Gold.
But Egypt's efforts have prevented the situation from deteriorating, he added.
In October 2017, in a rare show for the media, Egypt's intelligence service celebrated the signing of a reconciliation agreement between Hamas and Fatah.
But that deal failed to yield concrete results on the ground.
So "there is not really reason for Egypt to highlight its involvement until ... [it] has produced a successful outcome", said Mr Gold.
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Name: Almnssa
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Founder: Areej Selmi
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Sectors: Internet, e-commerce
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The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
When Umm Kulthum performed in Abu Dhabi
Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.
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Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
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Killing of Qassem Suleimani
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
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Engine: 3.5-litre V6
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Fuel economy, combined: 7.0L / 100km
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.”
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5