Israel must abandon its threat to annex parts of the occupied West Bank, the United Nation’s top envoy to the Middle East has said.
Nikolay Mladenov warned that going ahead with the plan would violate international law and deal “a devastating blow” to the two-state solution.
He also called on the United States, Russia and the European Union to work with the UN to quickly come up with a proposal to enable the four parties in the so-called Middle East Quartet to take up their mediation role and work with countries in the region for peace.
“Israel must abandon the threat of annexation,” he said. “The Palestinian leadership must re-engage with all members of the Quartet.”
Mr Mladenov told the UN Security Council on Wednesday that in the coming weeks all sides should work to preserve the prospect of a negotiated two-state resolution to the conflict.
“These efforts must begin immediately, there is no time to lose,” he said. “The fate of the Palestinian and Israeli people must not be determined by destructive unilateral action that cements divisions and may put peace beyond our reach in our lifetime.”
Israeli Prime Minister Benjamin Netanyahu has vowed to annex the Jordan Valley and Jewish settlements in the Occupied West Bank in line with US President Donald Trump’s Middle East plan, which favours Israel and was rejected by the Palestinians.
Mr Netanyahu formed a new Israeli government earlier this month with his chief rival Benny Gantz. The coalition agreement allows the prime minister to present an annexation proposal to the government as soon as July 1.
Palestinian President Mahmoud Abbas said on Tuesday that the Palestinian Authority will no longer be committed to any signed agreements with Israel or the US, following Israel’s annexation pledge.
US Secretary of State Mike Pompeo said he hoped Mr Abbas’s move would not end security co-ordination.
"We hope that the security arrangements will continue to be in place, that the work that's done on the ground there to keep people in Israel and Palestinians safe will continue," Mr Pompeo said on Wednesday. "I regret that he's decided to abrogate these agreements," Mr Pompeo said.
Mr Mladenov, the UN special co-ordinator for the Middle East peace process, told the council he would meet Palestinian Prime Minister Mohammad Shtayyeh on Thursday “to understand better the practical side of the decision by the leadership and its implications on the ground.”
He said Mr Abbas’s statement also calls for negotiations under international auspices, including by the Quartet, to advance a negotiated two-state solution.
US ambassador Kelly Craft made no mention of Mr Abbas’ statement but acknowledged concerns by many council members about Mr Trump’s peace plan.
“What is needed right now, if we hope to take even a first step in the right direction, is for the parties to sit down with one another,” she said. “If this council is serious about wanting to see progress in the Middle East, then I urge each of you to look seriously at the steps you can take to encourage direct negotiations.”
Immediately before the council met, its four European Union members – France, Germany, Belgium and Estonia – and former member Poland delivered a joint statement. It expressed willingness “to support and facilitate resumed direct and meaningful negotiations between the two parties, to resolve all final status issues and achieve a just and lasting peace.”
The EU members said they are also ready to engage immediately with Israel’s new government and key parties.
The two-state solution, with Jerusalem as the future capital for both states, “is the only way to ensure sustainable peace and stability in the region,” they said. The EU has said it will not recognise any changes to 1967 borders unless they are agreed to by the Israelis and Palestinians.
Russia’s UN ambassador Vassily Nebenzia said the doors to a two-state solution may be closed and “no time should be wasted”. He said international co-operation and action is needed now “as never before.”
UAE currency: the story behind the money in your pockets
The%20specs%3A%202024%20Mercedes%20E200
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UAE currency: the story behind the money in your pockets
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
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.”
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
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.
Zayed Sustainability Prize
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
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THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
