A mural in Gaza in the occupied West Bank. Tuesday was the 30th anniversary of the signing of the Oslo Accords. AFP
A mural in Gaza in the occupied West Bank. Tuesday was the 30th anniversary of the signing of the Oslo Accords. AFP
A mural in Gaza in the occupied West Bank. Tuesday was the 30th anniversary of the signing of the Oslo Accords. AFP
A mural in Gaza in the occupied West Bank. Tuesday was the 30th anniversary of the signing of the Oslo Accords. AFP

‘Failed’ Oslo Accords should be scrapped, says key Israeli architect of deal


Laura O'Callaghan
  • English
  • Arabic

The Oslo Accords should be scrapped because the past 30 years have proved they are a failure, a key architect of the historic peace deal has said.

Yossi Beilin suggested the twin pacts between Israel and the Palestinian Liberation Organisation (PLO) had lost their true meaning and been “abused” by Israel.

Dutch diplomat and former peace negotiator Robert Serry said it was “remarkable” to hear one of the masterminds of the Oslo Accords speak about their legacy with such dismay.

Backing Mr Beilin’s call for the agreement to be torn up, he argued a new approach to peace between Israel and the Palestinians was needed for a positive outcome to be achieved.

The comments came during an online discussion hosted by London-based think tank Chatham House on Tuesday, the 30th anniversary of the signing of the Oslo Accords.

“Let us stop it,” Mr Beilin told the audience.

Yossi Beilin, a former member of the Israeli government and an architect of the Oslo Accords, called for the agreement to be scrapped. AP
Yossi Beilin, a former member of the Israeli government and an architect of the Oslo Accords, called for the agreement to be scrapped. AP

“We never thought that it would be for 30 years and that we would mark the 30th year of Oslo. It’s not a success. It’s a failure because we cannot get to a permanent agreement.

“We are dragging it and dragging it. It’s being abused by those who don’t want a permanent agreement and prefer the zero-sum game.

“I think the best thing which [should] happen to Oslo is to kill it."

Mr Beilin has previously served in several positions in the Israeli government and was deputy foreign minister in 1993 when PLO chairman, Yasser Arafat, and the Israeli prime minister at the time, Yitzhak Rabin, sign the deal. Their historic handshake on the White House lawn as then-US president Bill Clinton looked on was seen as a major breakthrough in Israeli-Palestinian relations.

But three decades on, both sides remain locked in a conflict that seems never-ending.

Mr Beilin said people on all sides, including right-wing politicians in Israel, Hamas and many supporters of Fatah – formerly the Palestinian National Liberation Movement – consider the Oslo Accords “a mistake and a disaster”.

He said it would be better if Israel “got back to the status of occupier”, whereby it would be responsible to pay for the Palestinian budget and sort out education and other services in the occupied territories.

Mr Serry said the agreement had been “manipulated by successive right-wing governments” in Israel and suggested the signing had prompted Europe to become less engaged in the Middle East peace process.

“We [have] left it mainly since Oslo to the Americans,” he said. “The Europeans took a back seat.”

He stressed that a new paradigm was needed for a two-state solution to materialise.

“We cannot go on in the way that we are looking at the problem,” Mr Serry said.

Dalal Iriqat, a lecturer at the Arab American University in Palestine, told the audience the Oslo Accords had given the false impression that Israel and the Palestinians had been engaged in peace talks for the past 30 years.

She pointed out the last serious bilateral discussions held between the two sides, apart from over security co-ordination, was in 2012.

Only a solution to Israel’s occupation of Palestinian territories that gives her people a right to self-determination can be considered a goal, she said.

Dr Iriqat said Palestinian communities in the West Bank were being increasingly targeted by “extreme settler terrorism”.

The international community should make recognising the existence of a Palestinian state the first step on the road towards a two-state solution, she said.

Predictions

Predicted winners for final round of games before play-offs:

  • Friday: Delhi v Chennai - Chennai
  • Saturday: Rajasthan v Bangalore - Bangalore
  • Saturday: Hyderabad v Kolkata - Hyderabad
  • Sunday: Delhi v Mumbai - Mumbai
  • Sunday - Chennai v Punjab - Chennai

Final top-four (who will make play-offs): Chennai, Hyderabad, Mumbai and Bangalore

Asia Cup 2018 final

Who: India v Bangladesh

When: Friday, 3.30pm, Dubai International Stadium

Watch: Live on OSN Cricket HD

CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

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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.”

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.

Directed: Smeep Kang
Produced: Soham Rockstar Entertainment; SKE Production
Cast: Rishi Kapoor, Jimmy Sheirgill, Sunny Singh, Omkar Kapoor, Rajesh Sharma
Rating: Two out of five stars 

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Updated: September 12, 2023, 3:56 PM