Live updates: Follow the latest news on Israel-Gaza
President Joe Biden understands the fear and anxiety of Arabs and Muslims in the US and around the world and is “steadfastly” pushing Israel to try to protect civilians in the Gaza Strip, the White House has told The National.
Speaking one month since the October 7 Hamas attacks on southern Israel, National Security Council spokesman John Kirby on Tuesday also ruled out US troops fighting in Gaza and said there were no signs Iran has jumped into the conflict “with both feet”, despite a surge in attacks by Tehran-linked groups in Iraq and Syria.
In the weeks since Hamas killed about 1,400 people in Israel and took 240 more hostage, Israel has pounded the Gaza Strip to try to eradicate the group.
Hamas health authorities say more than 10,300 people have been killed, most of them women and children, raising questions as to the legitimacy and proportionality of the Israeli response.
Mr Kirby said the White House believes that Hamas should never be allowed to govern Gaza again and that Israel must be able to defend itself.
But Mr Biden “also understands the fear, the anxiety, the mourning in the Arab community and the Muslim community here and around the world for the civilian casualties”, Mr Kirby said.
“It's heartbreaking to see the images coming out of Gaza, of little babies being pulled from the rubble and being killed by these air strikes, and that is why he has maintained steadfastly in every conversation that he has with the Prime Minister [Benjamin Netanyahu], the need to do everything possible to protect innocent civilian life.”
Mr Biden spoke to Mr Netanyahu on Monday and discussed “temporary and localised pauses” in strikes on the Gaza Strip.
When asked if the US is satisfied that Israel is striking legitimate military targets, Mr Kirby said: “We are not going to react in real time to every strike or every tactical operation that the Israelis conduct”.
The President is facing mounting anger at home and abroad over his handling of the conflict and his administration’s refusal to call for a ceasefire, instead trying to persuade Israel to enact more loosely defined “pauses”.
The Pentagon requires no monitoring of how US bombs are used in Gaza and Mr Kirby reiterated the US position that it is “still the case” that there are no “red lines” in how Israel conducts its operations in the Palestinian territory.
Mr Kirby said the White House still does not take Hamas authorities’ civilian casualty numbers “at face value”, but said “many, many thousands” had been killed.
A growing number of Mr Biden’s fellow Democrats are calling for a ceasefire, and on Saturday tens of thousands of protesters in Washington marched in solidarity with Palestinians in Gaza, demanding US support for a ceasefire.
Arab and Muslim-American voters in key states, including Michigan, say they will not support Mr Biden in 2024, a loss of support that could prove critical.
Mr Biden has drawn ire for comments questioning the death toll in Gaza, even as schools, hospitals and apartment buildings collapse under Israeli strikes.
Iran-backed attacks
The US is trying to avoid the Israel-Gaza war becoming a broader regional conflict but attacks launched by Hezbollah from Lebanon have already increased, and Iran-backed militias are attacking American forces in Iraq and Syria on a near daily basis.
American forces in Iraq were hit with two more attacks in the past 24 hours, a Defence Department official confirmed to The National on Tuesday, bringing the number of strikes on US and coalition forces in Iraq and Syria to 40 since mid-October, with 22 in Iraq and 18 in Syria so far.
Nonetheless, Mr Kirby said the US does not assess other groups or nations are determined to broaden the conflict.
“While there has been some rocket attacks, certainly across the northern border of Israel, from Lebanon … We still would not judge that any other actor, including Iran, has jumped in with both feet here to try to really escalate the conflict,” Mr Kirby said.
No US boots on the ground
Washington is Israel’s largest benefactor, funding its military with $3.3 billion annually. Congress is currently seeking another $14.3 billion in emergency funding.
The US has sent air defence systems, aircraft carriers and troops to the Middle East in recent weeks, but officials have stressed they are there to protect US forces in the region and deter other countries or groups from getting involved in the Israel-Gaza war.
The Pentagon says it has special operations forces working in Israel, primarily to assist in hostage recovery efforts. Last week, the US confirmed it is flying unarmed drones over Gaza to try to aid in these operations.
Mr Kirby said this should not be seen as a sign that the US will eventually deploy troops to help the Israelis in their ground operations in Gaza.
“The use of unmanned aerial assets is strictly to help provide a measure of situational awareness about hostages and where they might be,” Mr Kirby said.
“It should not be construed by anybody as some sort of precursor to US boots on the ground. There is no plan, no intention to put American soldiers on the ground in Gaza.”
The latest from the Israel-Gaza war – in pictures
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
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Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
First Person
Richard Flanagan
Chatto & Windus
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Most sought after workplace benefits in the UAE
- Flexible work arrangements
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The biog
Favourite car: Ferrari
Likes the colour: Black
Best movie: Avatar
Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy
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Results
6.30pm: Maiden Dh165,000 (Dirt) 1,600m
Winner: Celtic Prince, David Liska (jockey), Rashed Bouresly (trainer).
7.05pm: Conditions Dh240,000 (D) 1,600m
Winner: Commanding, Richard Mullen, Satish Seemar.
7.40pm: Handicap Dh190,000 (D) 2,000m
Winner: Grand Argentier, Pat Dobbs, Doug Watson.
8.15pm: Handicap Dh170,000 (D) 2,200m
Winner: Arch Gold, Sam Hitchcott, Doug Watson.
8.50pm: The Entisar Listed Dh265,000 (D) 2,000m
Winner: Military Law, Antonio Fresu, Musabah Al Muhairi.
9.25pm: The Garhoud Sprint Listed Dh265,000 (D) 1,200m
Winner: Ibn Malik, Dane O’Neill, Musabah Al Muhairi.
10pm: Handicap Dh185,000 (D) 1,400m
Winner: Midnight Sands, Pat Dobbs, Doug Watson.
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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
Brief scores:
Arsenal 4
Xhaka 25', Lacazette 55', Ramsey 79', Aubameyang 83'
Fulham 1
Kamara 69'
RESULTS
1.45pm: Handicap (TB) Dh80,000 (Dirt) 1,400m
Winners: Hyde Park, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard
2.45pm: Conditions (TB) Dh100,000 (D) 1,200m
Winner: Hurry Up, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Shadwell Jebel Ali Mile Group 3 (TB) Dh575,000 (D) 1,600m
Winner: Blown by Wind, Xavier Ziani, Salem bin Ghadayer
3.45pm: Handicap (TB) Dh72,000 (D) 1,600m
Winner: Mazagran, Tadhg O’Shea, Satish Seemar.
4.15pm: Handicap (TB) Dh64,000 (D) 1,950m
Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman
4.45pm: Handicap (TB) Dh84,000 (D) 1,000m
Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.
The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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
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.”
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Points about the fast fashion industry Celine Hajjar wants everyone to know
- Fast fashion is responsible for up to 10 per cent of global carbon emissions
- Fast fashion is responsible for 24 per cent of the world's insecticides
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- Fast fashion labour workers make 80 per cent less than the required salary to live
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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Lampedusa: Gateway to Europe
Pietro Bartolo and Lidia Tilotta
Quercus