Palestinian ambassador to the UN Riyad Mansour. Reuters
Palestinian ambassador to the UN Riyad Mansour. Reuters
Palestinian ambassador to the UN Riyad Mansour. Reuters
Palestinian ambassador to the UN Riyad Mansour. Reuters

UN adopts landmark resolution marking Palestinian 'Nakba Day'


Adla Massoud
  • English
  • Arabic

The UN General Assembly on Wednesday adopted its first resolution to commemorate Nakba Day, the “day of catastrophe”, when Palestinians were driven from their homes in 1948 following the foundation of Israel.

A total of 90 states voted in favour of the resolution while 30 were against, including the US, the UK, Germany and Canada. Forty-seven countries abstained.

Co-sponsored by Saudi Arabia and the United Arab Emirates amongst others, the resolution was adopted towards the end of a year in which Palestinian-Israeli violence has surged in the West Bank.

“Today, this General Assembly will finally acknowledge the historical injustice that befell the Palestinian people, adopting a resolution that decides to commemorate in this General Assembly Hall the 75th anniversary of the Nakba,” Palestinian UN envoy Riyad Mansour told the UN's 193 member countries.

“Our people deserve recognition of their plight, justice for the victims, reparation for their loss and fulfilment of their rights.”

The resolution, included in a series of other Palestinian motions, calls for the commemoration of the Nakba at the General Assembly Hall in 2023, and the dissemination of relevant archives and testimonies.

Each year on May 15, Palestinians remember the events leading up to the creation of Israel in 1948 that would claim hundreds of lives and affect many generations in the years that followed.

“Seventy five years ago, a very different General Assembly adopted a resolution partitioning Palestine without ever consulting the people of Palestine,” Mr Mansour said.

He said that, 75 years later, Israeli policies were still uprooting Palestinians, with seven million refugees part of the global diaspora.

  • Palestinians in the West Bank city of Hebron participate in a rally marking the 74th anniversary of the Palestinian Nakba (catastrophe), referring to their uprooting in the war over Israel's 1948 creation. EPA
    Palestinians in the West Bank city of Hebron participate in a rally marking the 74th anniversary of the Palestinian Nakba (catastrophe), referring to their uprooting in the war over Israel's 1948 creation. EPA
  • Palestinians carry a large national flag during a Nakba Day rally to mark the displacement of thousands of Palestinians after the founding of the Israeli state in the aftermath of the Second World War. AP
    Palestinians carry a large national flag during a Nakba Day rally to mark the displacement of thousands of Palestinians after the founding of the Israeli state in the aftermath of the Second World War. AP
  • Nakba Day, marked here in the West Bank city of Ramallah, commemorates the 700,000 Palestinians who were forced to flee and seek refuge in neighbouring Jordan, Lebanon, Syria, the West Bank and the Gaza Strip. AP
    Nakba Day, marked here in the West Bank city of Ramallah, commemorates the 700,000 Palestinians who were forced to flee and seek refuge in neighbouring Jordan, Lebanon, Syria, the West Bank and the Gaza Strip. AP
  • Israeli security forces were on high alert on Sunday after warnings by Hamas as Palestinians marked Nakba Day in places such as the West Bank city of Ramallah. EPA
    Israeli security forces were on high alert on Sunday after warnings by Hamas as Palestinians marked Nakba Day in places such as the West Bank city of Ramallah. EPA
  • Palestinians marching in the occupied West Bank town of Ramallah in a Nakba Day rally to mark the biggest tragedy in Palestine’s history. AFP
    Palestinians marching in the occupied West Bank town of Ramallah in a Nakba Day rally to mark the biggest tragedy in Palestine’s history. AFP
  • A young Palestinian waves national flags from a rooftop as people march in a rally marking the 74th anniversary of the Nakba (catastrophe) in the occupied West Bank town of Ramallah. AFP
    A young Palestinian waves national flags from a rooftop as people march in a rally marking the 74th anniversary of the Nakba (catastrophe) in the occupied West Bank town of Ramallah. AFP
  • A Palestinian man at a Nakba rally in Ramallah holds a key to symbolise property lost during the forced removal of Palestinians from their homes after the formation of Israel. Reuters
    A Palestinian man at a Nakba rally in Ramallah holds a key to symbolise property lost during the forced removal of Palestinians from their homes after the formation of Israel. Reuters
  • Palestinians mark the 74th anniversary of the Nakba in Ramallah. Reuters
    Palestinians mark the 74th anniversary of the Nakba in Ramallah. Reuters
  • Demonstrators remembering the Nakba, the forced removal of Palestinians from their homes after the formation of Israel. Reuters
    Demonstrators remembering the Nakba, the forced removal of Palestinians from their homes after the formation of Israel. Reuters
  • A Palestinian girl takes part in a Ramallah rally marking the 74th anniversary of the Nakba. Reuters
    A Palestinian girl takes part in a Ramallah rally marking the 74th anniversary of the Nakba. Reuters

Mr Mansour warned that the two-state solution had reached “the end of the road”.

“Either the international community summons the will to act decisively or it will let peace die passively,” he said.

He also called on the international community to pressure Israel and for the UN to grant the Palestinians a state, with East Jerusalem as its capital.

Israel’s UN representative, Gilad Erdan, accused the body of spreading a “false” narrative about the Nakba, which he said the Palestinians caused by refusing to accept the partition plan.

“By supporting resolutions that single out, condemn and vilify Israel, you are telling the Palestinians that their path of incitement and terror-funding truly pays off,” Mr Erdan said.

Also addressing the body was Csaba Korosi, president of the 77th session of the General Assembly.

Mr Korosi implored the international community to help “break the vicious circle of hatred and violence” and shift the dynamics from disagreement to engagement.

  • Women and children carry personal belongings on the five-kilometre journey through no man's land to the Arab lines in Tulkarim, June 1948. They were brought by lorry to this point from an Arab village near Haifa. Getty Images
    Women and children carry personal belongings on the five-kilometre journey through no man's land to the Arab lines in Tulkarim, June 1948. They were brought by lorry to this point from an Arab village near Haifa. Getty Images
  • An elderly Palestinian refugee in the Hussein refugee camp, also known as the Camp of Return. Reuters
    An elderly Palestinian refugee in the Hussein refugee camp, also known as the Camp of Return. Reuters
  • The day after the state of Israel was founded, a group of Haganah fighters celebrate after taking control of the Arab town of Jaffa, to the south of Tel Aviv. Reuters
    The day after the state of Israel was founded, a group of Haganah fighters celebrate after taking control of the Arab town of Jaffa, to the south of Tel Aviv. Reuters
  • Arabs carrying possessions on their heads flee from a village in Galilee about five months after the creation of the state of Israel. Reuters
    Arabs carrying possessions on their heads flee from a village in Galilee about five months after the creation of the state of Israel. Reuters
  • Arabs fleeing from a village in Galilee pass a burnt-out vehicle on a mountain road about five months after the creation of the state of Israel. Reuters
    Arabs fleeing from a village in Galilee pass a burnt-out vehicle on a mountain road about five months after the creation of the state of Israel. Reuters
  • Arab refugees return to their village after its surrender during the 1948 war that followed the foundation of Israel. AFP
    Arab refugees return to their village after its surrender during the 1948 war that followed the foundation of Israel. AFP
  • Palestinians speak with Israeli soldiers near a captured Arab village during the 1948 war. AFP
    Palestinians speak with Israeli soldiers near a captured Arab village during the 1948 war. AFP

“As said by Mahatma Gandhi, 'An eye for an eye only ends up making the whole world blind,” he said. “Let us give young people a reason for hope.”

On Tuesday, UN Secretary General Antonio Guterres called for the occupation to end.

Mr Guterres blamed the conflict on occupation, settlements, home demolitions, evictions and closures of Gaza crossings.

He also underlined his commitment to a two-state solution.

“The United Nations’ position is clear — peace must advance, the occupation must end,” he said.

Tor Wennesland, the UN envoy to the Middle East, on Monday warned that the Palestinian-Israeli conflict was “reaching a boiling point”.

This year is on course to be the deadliest for Palestinians in the West Bank since the UN started tracking deaths in 2005.

The UN says that Palestinian refugees live mainly in territory occupied by Israel since 1967, including East Jerusalem, in neighbouring Arab states and in camps in the region.

  • The sister of Palestinian artist Diana al-Amour, 22, who was reportedly killed in an Israeli bombardment days before, looks through her sketches in her room at the family home near the border with Israel, east of Khan Yunis in the southern Gaza Strip. AFP
    The sister of Palestinian artist Diana al-Amour, 22, who was reportedly killed in an Israeli bombardment days before, looks through her sketches in her room at the family home near the border with Israel, east of Khan Yunis in the southern Gaza Strip. AFP
  • Diana al-Amour's brother in her old room at the family home east of Khan Yunis in the southern Gaza Strip. AFP
    Diana al-Amour's brother in her old room at the family home east of Khan Yunis in the southern Gaza Strip. AFP
  • Diana al-Amour's brother inspects her sketches in her former room in the family home in the southern Gaza Strip. AFP
    Diana al-Amour's brother inspects her sketches in her former room in the family home in the southern Gaza Strip. AFP
  • The artist's brother with one of her sketches. AFP
    The artist's brother with one of her sketches. AFP
  • Duniana al-Amour's father, Adnan, in her damaged room, which was hit by an Israeli strike. The young woman was one of the first people killed by Israeli strikes in the latest round of violence. Shrapnel tore through her bedroom during Israel’s surprise opening salvo last Friday. AP
    Duniana al-Amour's father, Adnan, in her damaged room, which was hit by an Israeli strike. The young woman was one of the first people killed by Israeli strikes in the latest round of violence. Shrapnel tore through her bedroom during Israel’s surprise opening salvo last Friday. AP
  • Drawings by Duniana al-Amour in her damaged room. AP
    Drawings by Duniana al-Amour in her damaged room. AP
  • A damaged wall in the young woman's bedroom at the family home in the southern Gaza Strip. AP
    A damaged wall in the young woman's bedroom at the family home in the southern Gaza Strip. AP

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.”

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Updated: November 30, 2022, 10:16 PM