Egyptian President Hosni Mubarak, right meets with Palestinian authority President Mahmoud Abbas at the Presidential palace in Cairo, Egypt, Saturday, Sept. 5, 2009. Talks come within the framework of efforts aimed at reviving the Middle East peace process. (AP Photo/Amr Nabil) *** Local Caption ***  XAN101_MIDEAST_EGYPT_PALESTINIANS.jpg
The Egyptian President Hosni Mubarak, right, with the Palestinian Authority President Mahmoud Abbas in Cairo yesterday.

Optimism as prisoner swap talks progress



RAMALLAH // In spite of repeated denials, reports that Hamas and Israel are close to agreeing a prisoner exchange deal continue unabated. According to Israeli media reports, Khaled Meshaal, the Hamas leader-in-exile, was en route yesterday to Cairo for discussions on how to finalise an exchange deal that would see at least 450 Palestinian prisoners released in stages in return for the release of Cpl Gilad Shalit, an Israeli soldier captured three years ago along the border with Gaza. Mr Meshaal is due to meet Egyptian officials as well as a delegation from Gaza during his visit. Hamas yesterday said that Mr Meshaal was in Cairo for talks on how to further Palestinian unity discussions, and a spokesman denied that a prisoner exchange deal was on the agenda. "There are several reasons for the visit," said Ayman Taha, the spokesman. "The main one is the internal dialogue. A prisoner exchange deal will only be discussed if it happens to come up in talks." Mahmoud Abbas, the Palestinian president and Fatah leader, was also in Cairo yesterday for talks with the Egyptian President Hosni Mubarak, but it was not clear whether there was a connection between the visits of the two rivals, Mr Abbas and Mr Mashaal. Mr Abbas left before Mr Mashaal arrived, but he did say the topic of reconciliation talks came up during his discussions with Mr Mubarak. He also reiterated his stance that a total settlement freeze was a condition for restarting talks with the Israelis. Speculation about a prisoner exchange deal picked up pace last week when it was revealed that Germany was involved in mediation efforts along with Egypt. Germany has mediated prisoner exchange deals involving Israel before, the latest in 2006 between Israel and Hizbollah, the Lebanese Shiite group. Cairo has been trying to mediate the release of Cpl Shalit since 2007 but with no luck. Hamas has previously asked for a non-regional mediator in a bid to ensure that Israel lives up to its side of any bargain. According to a report last week in Der Spiegel, a German magazine, Israel has already agreed to a deal in which it would release 450 Palestinian prisoners, including some convicted of killing Israelis. Hamas would then allow Cpl Shalit to travel to Cairo, after which Israel would release more prisoners. Some of those released, according to the report, would be exiled, a sticking point in previous negotiations. Hamas has yet to respond to the proposal. German involvement would certainly take negotiations to another level, and Mr Taha acknowledged that German mediation efforts were "extremely serious". Nevertheless, he said, negotiations were "only at the beginning". Also last week, Israel released nine Hamas ex-parliamentarians imprisoned since 2006. While the nine legislators had served their full 40-month sentences, the release could be seen as a first confidence-building measure. On the other hand, it seems improbable that Hamas would agree to a deal in the absence of a separate agreement on the issue of opening crossings into Gaza. While Israel's siege on the impoverished Gaza Strip has somewhat eased in recent weeks, Israel still bars much-needed construction materials from entering Gaza. The two-year Israeli siege has had a dramatic impact on Gaza's economy. Some 95 per cent of local industries have had to shut down, while repair work to Gaza's electricity power plant and debilitated sewage system remains undone. In addition, the absence of construction materials means that any reconstruction of Gaza after Israel's devastating onslaught in January cannot begin. Mr Taha accepted that a prisoner exchange deal with Israel could have a positive impact on the internal Palestinian dialogue. Nevertheless, he said, without an opening of the crossings, "there would be no exchange deal". okarmi@thenational.ae

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

1,000 Books to Read Before You Die: A Life-Changing List
James Mustich, Workman

COMPANY PROFILE

Name: Kinetic 7
Started: 2018
Founder: Rick Parish
Based: Abu Dhabi, UAE
Industry: Clean cooking
Funding: $10 million
Investors: Self-funded

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

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TWISTERS

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Babumoshai Bandookbaaz

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Three stars

SPECS

Engine: Two-litre four-cylinder turbo
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The specs

Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September

Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says. 

Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

RESULTS

5pm Maiden (PA) Dh80,000 (Turf) 1,600m

Winner Thabet Al Reef, Bernardo Pinheiro (jockey), Abdallah Al Hammadi (trainer)

5.30pm Handicap (PA) Dh80,000 (T) 1,600m

Winner Blue Diamond, Pat Cosgrave, Abdallah Al Hammadi

6pm Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m

Winner Hameem, Adrie de Vries, Abdallah Al Hammadi

6.30pm Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m

Winner Shoja’A Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7pm Maiden (PA) Dh80,000 (T) 1,200m

Winner Heros De Lagarde, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm Handicap (TB) Dh100,000 (T) 2,400m

Winner Good Tidings, Antonio Fresu, Musabah Al Muhairi

J Street Polling Results

97% of Jewish-Americans are concerned about the rise in anti-Semitism

76% of US Jewish voters believe Donald Trump and his allies in the Republican Party are responsible for a rise in anti-Semitism

74% of American Jews agreed that “Trump and the Maga movement are a threat to Jews in America"

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

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices