Hamas hands over video in exchange for prisoners


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JERUSALEM // Hamas militants handed over a two-minute video showing a healthy-looking Israeli soldier held captive since 2006, and in exchange Israel freed 19 Palestinian women prisoners on Friday - the first tangible step toward defusing a key flashpoint in Israeli-Palestinian hostilities. An Israeli official who saw the video of Sgt Gilad Schalit said the 23-year-old looked good and spoke lucidly about something from his past. He gave no further details and spoke on condition of anonymity because the footage had not been released to the public. It was the first glimpse of Sgt Schalit since his capture nearly 3 1/2 years ago. Before Friday, the only signs of life had been three letters and an audio tape. The prisoners' triumphant return home to a flag waving and cheering crowd, together with the video's arrival in Israel, gave hope to each side that a wider, long-awaited prisoner swap is now in the offing. Hamas is demanding freedom for hundreds of Palestinian prisoners as their price for Sgt Schalit, whose capture in a bloody cross-border raid has touched a raw nerve in a country where most families have loved ones in the military. Friday's deal could also herald an end to a crippling, Israel-led blockade of Gaza, which has prevented the territory from rebuilding after Israel's winter war there. Israel imposed the blockade after Hamas seized power in Gaza two years ago. Israel has made it clear that it will not ease the embargo before the serviceman is freed. About 200 people waving Palestinian flags greeted vans carrying 18 of the women into the West Bank. The prisoners blew kisses to the crowd through the vehicles' open windows. Later, the prisoners were greeted by the Palestinian president Mahmoud Abbas in his walled compound, as elated related relatives threw fistfuls of sweets in the air. The women had been jailed for relatively minor offences and were close to release. Only a few were members of militant groups, and most were assigned supporting roles, such as helping bombers reach their targets, said Bothaina Duqmaq, a prisoners' rights activist in the West Bank, Israel's lead negotiator in prisoner swap talks viewed the video first in Tel Aviv to determine its authenticity. The video was then transferred to Jerusalem, where the prime minister Benjamin Netanyahu and defence minister Ehud Barak viewed it. A copy of the disc was also delivered by helicopter to the Schalit family in northern Israel. Channel 1 TV said Sgt Schalit appeared healthy and clean-shaven, and that his hair had been trimmed. Reporters and cameramen thronged the Schalit home as an army general walked with a manila envelope carrying the video inside. Sgt Schalit was captured in June 2006 by Hamas-linked militants in Gaza who tunnelled under the border into Israel, killed two other soldiers and dragged him into Palestinian territory.

*AP

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%3Cp%3E%3Cstrong%3EPros%3C%2Fstrong%3E%0D%3C%2Fp%3E%0A%3Cul%3E%0A%3Cli%3EEasy%20to%20use%20and%20require%20less%20rigorous%20credit%20checks%20than%20traditional%20credit%20options%0D%3C%2Fli%3E%0A%3Cli%3EOffers%20the%20ability%20to%20spread%20the%20cost%20of%20purchases%20over%20time%2C%20often%20interest-free%0D%3C%2Fli%3E%0A%3Cli%3EConvenient%20and%20can%20be%20integrated%20directly%20into%20the%20checkout%20process%2C%20useful%20for%20online%20shopping%0D%3C%2Fli%3E%0A%3Cli%3EHelps%20facilitate%20cash%20flow%20planning%20when%20used%20wisely%0D%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3E%3Cstrong%3ECons%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cul%3E%0A%3Cli%3EThe%20ease%20of%20making%20purchases%20can%20lead%20to%20overspending%20and%20accumulation%20of%20debt%0D%3C%2Fli%3E%0A%3Cli%3EMissing%20payments%20can%20result%20in%20hefty%20fees%20and%2C%20in%20some%20cases%2C%20high%20interest%20rates%20after%20an%20initial%20interest-free%20period%0D%3C%2Fli%3E%0A%3Cli%3EFailure%20to%20make%20payments%20can%20impact%20credit%20score%20negatively%0D%3C%2Fli%3E%0A%3Cli%3ERefunds%20can%20be%20complicated%20and%20delayed%0D%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3E%3Cem%3ECourtesy%3A%20Carol%20Glynn%3C%2Fem%3E%3C%2Fp%3E%0A
Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

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Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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