Blindfolded Palestinians, who fled to Israel from Gaza, sit aboard a bus as they are transported by the Israeli army near the Erez Crossing, just outside the northern Gaza Strip.
Blindfolded Palestinians, who fled to Israel from Gaza, sit aboard a bus as they are transported by the Israeli army near the Erez Crossing, just outside the northern Gaza Strip.

Fatah supporters return to Gaza



GAZA CITY // Most of the 180 Fatah supporters who fled into Israel from the Gaza Strip after a dramatic escape from Hamas action, will be returned to the Gaza Strip today, Israeli and Palestinian officials said. The men, members of a Gaza clan linked to Fatah, escaped to Israel under fire yesterday after a Hamas crackdown on their family's stronghold left nine people dead. Hamas said its forces had detained about 30 of the Fatah supporters who had already been sent back to Gaza. Officials said this was keeping with a request from the moderate Palestinian president, Fatah's Mahmoud Abbas, to send the men back. The wounded would be allowed to remain in Israeli hospitals, they said, speaking on condition of anonymity because the information had not been officially released to the public. Nimr Hammad, a political adviser to Mr Abbas, said everyone wanted by Hamas would be allowed to remain in the West Bank for their safety. He would not say how many were included in each group or offer an explanation for the move. Israel said it was Mr Abbas who originally asked to let the men through, but the Palestinian leader might fear that allowing the men to stay in the West Bank would be handing Hamas a victory while weakening his own supporters in Gaza. A Hamas spokesman, Sami Abu Zuhri, said Hamas had arrested the men who were sent back and would question them. Any not involved in illegal acts would be released, he said. Wary Israeli troops allowed the Gazans to cross the heavily-guarded border yesterday, stripping them first to make sure none were wearing explosives. When the soldiers went to open the gate, heavy fire erupted, apparently from Hamas forces, said Col Ron Ashrov, an Israeli military commander in the border area. Twenty-two of those who crossed were injured, he said. Mortar shells hit near the crossing as the Palestinians fled their homes for the territory of their longtime enemy. The Israeli soldiers prepared stretchers, and ambulances rushed the badly wounded to nearby hospitals.

The incident began yesterday when Hamas forces launched a raid on a crowded Gaza City neighbourhood dominated by the Hilles clan, linked to Fatah. The sides battled each other with mortars and machine guns. Three Hamas men were killed, along with six Fatah supporters, and nearly 90 were wounded in what was one of Gaza's bloodiest rounds of internal fighting since Hamas seized the territory more than a year ago. The Hamas raid was part of an intensifying weeklong campaign sparked by a mysterious explosion on July 25 that killed five Hamas men and a six-year old girl. Hamas blamed Fatah and began rounding up the rival group's members.

Fatah denied the charge and launched a retaliatory offensive against Hamas in the West Bank. Hamas alleged that the Hilles clan was hiding those who perpetrated the attack. The Islamic group's forces prevailed after heavy fighting in the neighbourhood's streets, and many of the clan's men fled in the direction of the border fence. Mr Abbas and the Egyptian government contacted Israel and asked to let them through, and the Israeli defence minister Ehud Barak agreed, according to Israeli military officials.

They spoke on condition of anonymity because the request was not officially made public. The incident punctuated one of the new realities of the conflict: Palestinian infighting has become so bitter that some Palestinians fear Israel less than they do each other.

Haim Ramon, the Israeli vice premier, said today that Israel had a responsibility to help supporters of Mr Abbas, who is negotiating a peace deal with Israel. "We have to decide on one central and basic position, and that is that we co-operate and want to help the pragmatic forces among the Palestinians, those who want to negotiate with us and who are fighting the radical Islam of Hamas, those who oppose terrorism," Mr Ramon told Army Radio.

*AP/Reuters

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

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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Did you know?

Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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MATCH INFO

Day 1 at Mount Maunganui

England 241-4

Denly 74, Stokes 67 not out, De Grandhomme 2-28

New Zealand 

Yet to bat

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Match statistics

Dubai Sports City Eagles 8 Dubai Exiles 85

Eagles
Try:
Bailey
Pen: Carey

Exiles
Tries:
Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3

Man of the match: Tomas Sackmann (Exiles)