People participate in the Washington pro-Palestine protest on November 4. Getty Images / AFP
People participate in the Washington pro-Palestine protest on November 4. Getty Images / AFP
People participate in the Washington pro-Palestine protest on November 4. Getty Images / AFP
People participate in the Washington pro-Palestine protest on November 4. Getty Images / AFP

Protests, walkouts and sit-ins take place across the US in support of Gaza


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Dozens of student organisations and activist groups across the US are planning to engage in pro-Palestine events on Thursday, as calls for a ceasefire in the Israel-Gaza war grow.

The events, registered on the Shut It Down for Palestine website, include rallies, sit-ins, teach-ins, film screenings and others focused on ending the violence.

“Across the world, millions of people are engaging in demonstrations and organising major marches in solidarity with Palestine,” the website says.

“Our demands for an immediate ceasefire, cutting all aid to Israel and lifting the siege on Gaza have broader support than ever.”

Healthcare workers in Philadelphia, law students in New York and an indigenous organisation in California have registered demonstrations planned for Thursday.

Many of the events have been organised by student groups at universities, which have become a major point for activism in support of Gaza.

Included on the list is a protest outside the State Department in Washington, organised by groups including the Answer Coalition and the Palestinian Youth Movement.

Outside the State Department, a crowd of about 50 protesters chanted slogans including: “No more money for Israel’s slaughter.” Dozens of demonstrators stood in front of the State Department chanting “shame” as employees exited the building.

Also in Washington, the Museum of the Palestinian People will hold a community vigil on Thursday evening commemorating those killed in Gaza.

“Join walkouts, pickets of Israeli embassies and consulates, and pickets of companies profiting from Israeli occupation,” the Answer Coalition wrote on social media platform X, formerly Twitter.

“Be a part of the international call to action!”

The nationwide day of demonstrations takes place days after tens of thousands of people from across the country gathered in Washington to demand a ceasefire.

“We must keep building momentum and increase the pressure with more marches, walkouts, sit-ins and other forms of direct action directed at the political offices, businesses and workplaces that fund, invest and collaborate with Israeli genocide and occupation,” the website states.

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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