Arab Israelis run for cover as Israeli riot police fire tear gas in the northern town of Umm El-Fahm.
Arab Israelis run for cover as Israeli riot police fire tear gas in the northern town of Umm El-Fahm.

Israeli riot police break up march



Israeli riot police fired tear gas to break up clashes today in Umm El-Fahm, a bastion of Israeli Arab nationalism, where far-right Jewish extremists held a court-sanctioned march. Angry residents threw stones at helmeted police who were deployed in their thousands for the rally in the northern Israeli town. Police responded with tear gas, sound grenades and water cannon to disperse the demonstrators but there were no immediate reports of injuries.

Police said 15 officers were hurt during the clashes and three people had been arrested, while Israeli media said 16 people had been hurt, including an MP with the left-wing Meretz party and a deputy police chief. Carrying Israeli flags, the far-right protestors marched for a half hour under heavy police protection on the outskirts of Umm El-Fahm, prevented by the police and hundreds of angry residents from entering the town.

The Jewish demonstrators had petitioned the High Court to allow them to march in the city, a stronghold of the radical wing of the Islamic Movement in Israel, to demonstrate their right to march anywhere in Israel. Far right-wingers in Israel often accuse the state's Arab citizens of being a fifth column and of supporting Palestinian militants. Among the leaders of the march was Baruch Marzel, who led the anti-Arab Kach party that was banned in 1994 and who has been questioned several times by police in connection with attacks on Arabs. Another leader was Michael Ben Ari, an MP with the far-right National Union settler party.

Arab residents said the protest was meant to provoke and had to be stopped. "This is not just a simple provocation," the head of the Islamic Movement Sheikh Raed Salah said, saying Israel's extreme right wanted to "legitimise the transfer" of Israeli Arabs from the country. "We have to fight to stay here and we must prevent by all means Marzel and company from entering into Umm El-Fahm." Ahmad Tibi, an Israeli Arab MP, added: "Freedom of expression should not mean the freedom to expel and incite against the Arab citizens."

Mr Ben Ari denied the claim. "There are hostile elements who say that the State of Israel is a provocation," he told Ynet news website. "But all we are doing is waving the Israeli flag. "All we are demanding is loyalty to the state ... we are not here to provoke or expel anyone." Israel's High Court signed off on the Umm El-Fahm march in October, but police then called off planned demonstrations on several occasions. The court ruled again in favour of a march in January.

Marzel had planned to monitor voting in Umm El-Fahm during the February 10 Israeli election, but the authorities withdrew permission at the last minute for fear of violence. Arabs make up about 20 per cent of Israel's population of nearly seven and a half million, and are the descendents of those who remained in Israel following the creation of the Jewish state and the 1948 Arab-Israeli war. *AFP

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BMW M5 specs

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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.

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November 1-3: Abu Dhabi Grand Prix (Formula One)

November 28-30: Dubai International Rally

January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)

March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)

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May 13, v Malaysia
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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.

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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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