With Palestinians and Israelis blaming each other and a senior Israeli minister predicting that "at least a decade" is needed to secure a peace agreement, prospects appear dimmer than ever for the stalled Palestinian-Israeli peace process.
Analysts say that a fundamental rethink of approach, especially by the US, is now needed to salvage the process.
Avigdor Lieberman, the far-right Israeli foreign minister, yesterday said the parties should concentrate on deepening economic and security ties rather than pursuing a comprehensive peace agreement.
"I think we have good economic and security cooperation [with the Palestinians] and we should pursue that cooperation on both fronts and delay the political solution for at least a decade," Mr Lieberman told the Agence France-Presse news agency.
His comments came as Dennis Ross, adviser to Barack Obama, the US president, reportedly held secret talks this week with Israeli military and intelligence leaders and with the US insisting that it is continuing efforts to push forward the peace process.
But Mr Ross landed amid a round of finger pointing that suggests the parties are only moving further apart.
A report in the Israeli press earlier in the week said the US administration was exasperated with Ehud Barak, the Israeli defence minister and head of the Labour Party, for not being able to deliver on promises he had reportedly made the US. Little credence has been given to that report in Washington where a State Department spokesman on Monday characterised it as "more about political mischief than substance". But it suggests that the focus, for Israelis and Palestinians at least, has moved from pushing forward negotiations to avoiding blame for their collapse.
On Sunday, Benjamin Netanyahu, the Israeli prime minister, explicitly fingered the Palestinians while also suggesting that it was the US administration that withdrew a settlement moratorium package he had otherwise been prepared to push through his hardline cabinet.
Analysts say the problems lie deeper and a new approach by all parties is necessary. If any blame is to be apportioned, most say Mr Netanyahu must be held largely responsible, not least for being unable or unwilling to present any constructive suggestions of his own.
"The only explanation for the collapse is that Netanyahu was not interested," said Yaron Ezrahi, a political scientist at Jerusalem's Hebrew University. "His positions are much more extreme right than he lets the world know and the rest is theatre."
Mahdi Abdul Hadi, the head of the Palestinian Academic Society for the Study of International Affairs, said: "Any message that came to the doorstep of Netanyahu from Washington, Cairo, Ramallah or any place in Europe found a shut door. Netanyahu was closed to any initiatives or proposals."
Even in Washington, analysts say Mr Netanyahu must shoulder a large part of the responsibility for the failure.
"The notion that the US in some way has slowed the process I would take exception with," said Robert Wexler, the president of the Centre for Middle East Peace and Economic Cooperation, a Washington think tank. While the former Democrat member of Congress said there is "blame to be shared in all directions ... with all due respect to Prime Minister Netanyahu, we, the US, have engaged with him for the better part of 18 months and he has yet to define any of his own thoughts and ideas regarding borders, Jerusalem or refugees".
Analysts say the Israeli premier's reluctance to accept the Palestinian and US demand for a temporary construction freeze on Jewish settlements in the occupied West Bank and East Jerusalem showed that he is still opposed to making territorial concessions. They added that Mr Netanyahu preferred to cater to the pro-settler, ultranationalist parties that make up the majority of his ruling coalition so that he can stay in power.
The US had offered Israel diplomatic and security incentives in return for implementing a three-month extension to the freeze, but the deal fell through amid media reports that Israel did not want it to include East Jerusalem. Israel views East Jerusalem as an inseparable part of its capital while the Palestinians want the area, occupied by Israel in the 1967 war, as the capital of their future state.
The offer was criticised by Palestinians as far too generous to Israel and some analysts suggest it was just as well it fell through.
"I don't think it is bad that the offer was withdrawn, if indeed the US withdrew it," said Marwan Muasher, the vice president for studies at the Carnegie Endowment for International Peace.
"Giving Israel a number of concessions for a 90-day extension of the moratorium does not make much sense," Mr Muasher, a former Jordanian foreign minister said. "It is clear that Israel would simply use the time to avoid engaging in any serious process and then, after 90 days, go back to settlement building, this time with American acquiescence, if not approval."
Critics said the US needed to have applied more pressure on Israel.
"Washington knows very well that the Israeli government was not ready for peace but it continued its balanced approach of blaming both sides for the deadlock, even as it knew there was no symmetry," said Michael Warschawski, a founder of the Alternative Information Centre, a joint Israeli-Palestinian activist group. "The least they should have done to pressure Netanyahu was to freeze discussion in congress on military aid to Israel."
With Mr Netanyahu in thrall to his hardline coalition and Palestinians divided between Fatah, the faction of Mahmoud Abbas, the Palestinian president, and Hamas, the Islamist party that controls Gaza and rejects negotiations, analysts say the onus is very much on the US to come up with a better formula for talks.
"There has been no movement toward conflict resolution in the two years of this administration's efforts to resolve the conflict," said Mr Muasher. "What we have seen is more of the same: an incremental approach, no ideas on the table, a move from indirect talks to direct talks and back again and a retreat on administration positions that give the impression to the parties that there is no price to pay."
A bilateral approach alone will not succeed, said Mr Muasher, unless it is complemented by the inclusion of other key regional players, crucially Saudi Arabia. Further down the line, he suggested, the US, along with Quartet, which also includes the UN, Russia and the EU, should put forward its own comprehensive package. The two parties, he said, "simply are not capable of doing that on their own".
Mr Wexler said the peace process was at a "defining moment". In the short term, he suggested, the US should pursue private diplomacy and hope the two parties "do what they previously have not done" and seriously engage on those issues.
Failing that, the US would, in "two to four months", be faced with a stark choice.
"We either withdraw from the process because it's fruitless, or we lay out what are in effect Obama parameters."
If the administration were to lay down its own parameters, said Mr Wexler, "I would respectfully suggest we do so from the point of view of advancing an American national security interest."
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More on animal trafficking
Huddersfield Town permanent signings:
- Steve Mounie (striker): signed from Montpellier for £11 million
- Tom Ince (winger): signed from Derby County for £7.7m
- Aaron Mooy (midfielder): signed from Manchester City for £7.7m
- Laurent Depoitre (striker): signed from Porto for £3.4m
- Scott Malone (defender): signed from Fulham for £3.3m
- Zanka (defender): signed from Copenhagen for £2.3m
- Elias Kachunga (winger): signed for Ingolstadt for £1.1m
- Danny WIlliams (midfielder): signed from Reading on a free transfer
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Results
2.15pm: Handicap Dh80,000 1,950m
Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).
2.45pm: Handicap Dh90,000 1,800m
Winner: Right Flank, Pat Dobbs, Doug Watson.
3.15pm: Handicap Dh115,000 1,000m
Winner: Leading Spirit, Richard Mullen, Satish Seemar.
3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.
4.15pm: Handicap Dh105,000 1,400m
Winner: Ode To Autumn, Patrick Cosgrave, Satish Seemar.
4.45pm: Shadwell Farm Conditions Dh125,000 1,200m
Winner: Last Surprise, James Doyle, Simon Crisford.
5.15pm: Handicap Dh85,000 1,200m
Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
MATCH INFO
Rugby World Cup (all times UAE)
Final: England v South Africa, Saturday, 1pm
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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%3Cp%3EAuthor%3A%20Shalash%3Cbr%3ETranslator%3A%20Luke%20Leafgren%3Cbr%3EPages%3A%20352%3Cbr%3EPublisher%3A%20And%20Other%20Stories%3C%2Fp%3E%0A
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
PSL FINAL
Multan Sultans v Peshawar Zalmi
8pm, Thursday
Zayed Cricket Stadium, Abu Dhabi
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.”
Who is Allegra Stratton?
- Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
- Took up a public relations role for Chancellor Rishi Sunak in April 2020
- In October 2020 she was hired to lead No 10’s planned daily televised press briefings
- The idea was later scrapped and she was appointed spokeswoman for Cop26
- Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
- She has strong connections to the Conservative establishment
- Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
more from Janine di Giovanni
Results
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RESULTS
Cagliari 5-2 Fiorentina
Udinese 0-0 SPAL
Sampdoria 0-0 Atalanta
Lazio 4-2 Lecce
Parma 2-0 Roma
Juventus 1-0 AC Milan