Anti-Netanyahu protesters demonstrate outside of the Knesset in Jerusalem on September 29, 2020 amid a national coronavirus lockdown in Israel. EPA
Anti-Netanyahu protesters demonstrate outside of the Knesset in Jerusalem on September 29, 2020 amid a national coronavirus lockdown in Israel. EPA
Anti-Netanyahu protesters demonstrate outside of the Knesset in Jerusalem on September 29, 2020 amid a national coronavirus lockdown in Israel. EPA
Anti-Netanyahu protesters demonstrate outside of the Knesset in Jerusalem on September 29, 2020 amid a national coronavirus lockdown in Israel. EPA

Israel passes law to limit protests during 'virus emergency'


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Israel's parliament has approved a law restricting demonstrations as part of a coronavirus-related state of emergency that critics said was aimed at silencing protests against Prime Minister Benjamin Netanyahu.

The law, which passed its final reading by 46 votes to 38 on Wednesday, was intended to be one of several measures approved by parliament on Friday that tightened a second nationwide lockdown.

But debate on the measure was put off as the government struggled to secure the required votes in the face of opposition outcry and a protest outside parliament on Tuesday.

The lockdown, which took effect on September 18, closed most workplaces, markets, places of worship, schools and cultural venues.

It also banned journeys of more than a kilometre from home, other than for essential purposes such as buying food and medicine or receiving medical treatment.

The new law gives the government powers to declare a "special emergency caused by the coronavirus pandemic" for renewable periods of one week.

During that time, the one-kilometre limit on travel will apply to demonstrations, and there will also be restrictions on numbers.

The state of emergency can only be declared during a lockdown.

The government has yet to use those powers, but with 243,895 coronavirus infections and 1,552 deaths in a population of nine million, Israel has the world's highest weekly infection rate per capita.

On Wednesday, the health ministry said that 212 patients were on respirators, a record figure since the start of the pandemic in Israel.

Meir Cohen, of main opposition party Yesh Atid-Telem, condemned the new controls on demonstrations as a "slippery slope".

Yair Golan, of the left-wing Meretz party, said that the new law would not stop the demonstrations.

"The anger growing in the streets will find its way out," he said.

In recent months, weekly protests have been held outside Mr Netanyahu's Jerusalem residence, demanding that he resign over his management of the pandemic and his ongoing trial on corruption charges.

Shortly after the measures were finalised, an opposition group, the Movement for Quality Government in Israel, filed a petition at the supreme court to challenge the legality of the measure.

"In the darkness of the night, members of the Knesset brought Israel a step closer to crushing democracy, but we won't let that happen," the movement said in a statement.

"And don't let them say the law is crucial to save people from coronavirus," it said, and pointed out that demonstrations in vehicles where people drive cars in convoy on the streets – where risk of infection was minimal – were prohibited, too.

"There are no health considerations in this legislation, rather a sweeping prohibition on demonstrating against a prime minister accused of bribery, fraud and a breach of trust," the movement said.

On Tuesday, Mr Netanyahu said that this lockdown, originally set to end on October 10, would last "not less than a month, and maybe much more time than that".

At a Cabinet meeting on Wednesday evening focused on the lockdown, Mr Netanyahu said that lifting restrictions will be slow and that it could be between six months and a year until normal life resumes.

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PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

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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.”

Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

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What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

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The Undertaker beats Rusev in a casket match

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Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last

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Specs
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Star%20Wars%3A%20Ahsoka%20
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What is Genes in Space?

Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.

It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration. 

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RESULTS
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