Women march in the annual Al Quds Day rally in Manama. Many Bahrainis are opposed to ending the Arab world's isolation of Israel.
Women march in the annual Al Quds Day rally in Manama. Many Bahrainis are opposed to ending the Arab world's isolation of Israel.
Women march in the annual Al Quds Day rally in Manama. Many Bahrainis are opposed to ending the Arab world's isolation of Israel.
Women march in the annual Al Quds Day rally in Manama. Many Bahrainis are opposed to ending the Arab world's isolation of Israel.

Few takers for engaging Israel


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Manama // An article last week by Bahrain's crown prince calling on Arab countries to adopt a new approach to relations with Israel has unleashed a torrent of debate from Manama to Washington, and is testing the ability of Gulf states to leverage their growing economic clout into regional political influence. Sheikh Salman bin Hamad al Khalifa, in his article for The Washington Post, argued that for the Arab-Israeli peace process to move forward "a great deal of campaigning - patiently and repeatedly targeting all relevant parties" was needed.

"This is where we as Arabs have not done enough to communicate directly with the people of Israel," he wrote. "We have not done a good enough job demonstrating to Israelis how our initiative can form part of a peace between equals in a troubled land holy to three great faiths. Others have been less reticent, recognising that our success would threaten their vested interest in keeping Palestinians and Israelis at each other's throats. They want victims to stay victims so they can be manipulated as proxies in a wider game for power. The rest of us - the overwhelming majority - have the opposite interest."

Sheikh Salman added that the two reasons behind his call at this time were the need to make the region safer for all and because peace would bring greater prosperity to the Middle East. "Already, the six oil and gas nations of the Gulf Co-operation Council have grown into a powerful trillion-dollar market. Removing the ongoing threat of death and destruction would open the road to an era of enterprise, partnership and development on an even greater scale for the region at large," he wrote.

He also called on Arabs to reach out to the Israeli public by utilising the media to reaffirm to them that peace is a strategic option for the Arab world, denying at the same time that such a move would represent a normalisation of relations between Israel and Arab states. "Some Arabs, simplistically equating communication with normalisation, may think we are moving too fast toward normalisation. But we all know that dialogue must be enhanced for genuine progress. We all, together, need to take the first crucial step to lay the groundwork to effectively achieve peace. So we must all invest more in communication," he wrote.

It was not the first time a top Bahraini official has led efforts for better relations with Israel. Last October the foreign minister, Sheikh Khalid bin Ahmed al Khalifa, called for the creation of a new regional organisation that would include all of the Arab states, Iran, Turkey and Israel. This month Bahraini officials from the foreign and interior ministries undertook the first visit to Israel to bring back five Bahrainis who were detained there while attempting to deliver aid by boat to the besieged Gaza Strip during the Israeli blockade.

Yigal Palmor, a spokesman for Israel's foreign ministry, confirmed that the officials had arrived in Israel, but said there was "no other significance" to the visit apart from accompanying the deportees home. Bahraini opposition groups and anti-Israeli groups issued statements shortly after Sheikh Salman's article appeared in which they criticised the move as a step towards "naturalisation with the Zionist enemy".

Bahrainis, regardless of the sectarian differences that divide them on other regional issues, also quickly utilised the internet and Facebook to form reaction groups to reject the crown prince's call. Nonetheless, the article seems to have achieved its goal of provoking a renewed debate on ossified positions of the major players. It drew strong support from the US administration and opened the door for serious debate within the Arab world on one hand, but on the other, has managed to draw only a cold response from within Israel.

The US administration, which just a day before the article's publication was calling on Arabs to do more to support its Middle East peace initiative, welcomed the crown prince's position and announced that the US Middle East envoy, George Mitchell, would give a speech in Bahrain next week when he arrives in the region as part of a tour that will also take him to Israel. Mr Mitchell, who will be making his second visit to Bahrain in less than three months, is expected to urge other Arab states to follow Sheikh Salman's lead.

The Obama administration, which is locked in a disagreement with the Israeli government over the construction and expansion of Jewish settlements in the West Bank and East Jerusalem, has also been pressuring key Arab states to take steps towards improving relations with Israel. The reaction from Tel Aviv towards the Bahraini crown prince, however, has been less than enthusiastic. The Jerusalem Post yesterday quoted unnamed Israeli officials who welcomed the Bahraini gesture, but who thought that it would have little effect on the Arab world.

"Gestures by Bahrain would be nice, but don't necessarily mean anything," one official was quoted as saying by the paper. "The question is what influence they would have on any other country, and the answer is none. Obviously it is better than nothing, but moves by Bahrain won't change anything in Arab public opinion or Arab politics." Key opposition groups in Bahrain have also come out against the call.

The Leftist National Democratic Action Society (Waad) issued a statement on Monday that said it rejected attempts to improve relations with Israel, describing the case of Palestinian territory as one of occupation and ethnic cleansing that cannot be resolved through a public relations campaign. "The message that must be sent to the occupying state and its citizens is that there will be no peace without the return of the rights of the Palestinian, the return of the refugees to their land and the defeat of the racist Zionist project," the statement said.

Bahrain is a pro-western state and serves as home to the US navy's 5th Fleet Command. However, the small Gulf island was the scene of scores of angry protests during the US invasion of Iraq and Israel's wars on Lebanon in 2006 and Gaza this year. Bahrain also has a Jewish community of about 40 people, representing the only Jewish presence in any of the six Gulf states and one of the world's smallest. It also houses the only synagogue in the Gulf.

Last year Bahrain appointed a Jewish woman, Huda Ezra Ebrahim Nonoo, to be its ambassador to Washington - a first for an Arab country, just a few years after she and another relative were appointed to the Bahraini Consultative Assembly. The Arab states have supported the 2002 peace initiative introduced by Saudi Arabia to the Arab League, which called for peace with Israel if it withdraws to the 1967 borders.

In 2005, Bahrain closed down its boycott office, which oversaw the enforcement of the Arab League decision to boycott Israeli goods, ahead of signing its free trade agreement with the United States. mmahdi@thenational.ae

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

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How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

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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.”

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Name: Hassan Mohsen Elhais

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The specs

Engine: 3.0-litre six-cylinder MHEV

Power: 360bhp

Torque: 500Nm

Transmission: eight-speed automatic

Price: from Dh282,870

On sale: now

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

If you go

Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.

Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com

A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com

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