People inspect their homes in Rafah for damage done by Israeli air strikes. UN Secretary General Antonio Guterres criticised the collective punishment of Palestinians. Getty images
People inspect their homes in Rafah for damage done by Israeli air strikes. UN Secretary General Antonio Guterres criticised the collective punishment of Palestinians. Getty images
People inspect their homes in Rafah for damage done by Israeli air strikes. UN Secretary General Antonio Guterres criticised the collective punishment of Palestinians. Getty images
People inspect their homes in Rafah for damage done by Israeli air strikes. UN Secretary General Antonio Guterres criticised the collective punishment of Palestinians. Getty images

Israel bringing historic levels of 'destruction and death' in Gaza, UN chief says


Adla Massoud
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Live updates: Follow the latest news on Israel-Gaza

UN Secretary General Antonio Guterres on Wednesday criticised Israel's military operations for bringing death and destruction to Gaza on a scale not seen since he started in his job eight years ago.

“Nothing justifies the horrific terror attacks launched by Hamas against Israel on October 7. Nor is there any justification for the collective punishment of the Palestinian people,” Mr Guterres said.

“Yet, Israeli military operations have resulted in destruction and death in Gaza at a scale and speed without parallel since I became Secretary General.”

Mr Guterres, who started his job in 2017, described the situation in Gaza a “festering wound” that threatens the entire region and he called for an immediate humanitarian ceasefire and the unconditional release of all hostages.

He said that the world has entered an “age of chaos” with a deeply divided Security Council “deadlocked by geopolitical fissures”.

“We are seeing the results: a dangerous and unpredictable free-for-all with total impunity,” Mr Guterres told the 193-member UN General Assembly, outlining his priorities for 2024.

With the war in Gaza entering its fifth month, Mr Guterres expressed alarm at reports of an imminent Israeli ground invasion of the southern city of Rafah which “would exponentially increase what is already a humanitarian nightmare with untold regional consequences”.

Israel vowed to eliminate the Palestinian militant group Hamas and launched air strikes and a ground offensive that have killed more than 27,700 people, mostly women and children, according to the Gaza Health Ministry.

Israeli Defence Minister Yoav Gallant said this week that the army would “reach places where we have not yet fought … right up to the last Hamas bastion, which is Rafah”.

The UN Secretary General’s spokesman Stephane Dujarric told reporters since the onset of the Gaza conflict, “civilians have been told for their own safety to move south progressively. And now they're in a last little corner."

"If the fighting that we've seen in the north in the center of Gaza moves to Rafah the consequences would be catastrophic and almost too catastrophic to imagine," he added.

UN Secretary General Antonio Guterres addressed the General Assembly on Wednesday. AFP
UN Secretary General Antonio Guterres addressed the General Assembly on Wednesday. AFP

Mr Guterres, who is in his second and final five-year term, called for reform of the Security Council, stressing that this is not the first time it has been divided but “it is the worst”.

He said that unlike during the Cold War, when “well-established mechanisms helped manage superpower relations,” those mechanism are missing “in today's multipolar world”.

“Today’s dysfunction is deeper and more dangerous,” he said. “Our world has entered an age of chaos.”

He said that the Security Council needs the capacity to make and carry out decisions, and should be more inclusive.

“It is totally unacceptable that the African continent is still waiting for a permanent seat,” he said.

In his speech, Mr Guterres also called for the council’s working methods to be updated so that it can make progress, “even when members are sharply divided”, and in light of global conflicts “stoking further inequalities and injustice.”

He noted that trade through the Suez Canal is down by 42 per cent since the start of Houthi attacks on shipping in the Red Sea more than three months ago.

“Trade via the Panama Canal is down 36 per cent in the past month, because of low water levels – a by-product of the climate crisis,” he added.

Mr Guterres urged world leaders to use the Summit of the Future in September in New York, on the sidelines of the annual General Assembly, as a chance to “shape multilateralism for years to come”.

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Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

Champions parade (UAE timings)

7pm Gates open

8pm Deansgate stage showing starts

9pm Parade starts at Manchester Cathedral

9.45pm Parade ends at Peter Street

10pm City players on stage

11pm event ends

Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

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Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

UAE currency: the story behind the money in your pockets
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'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”

Ads on social media can 'normalise' drugs

A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.

The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.

Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.

Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.

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.
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Profile of VoucherSkout

Date of launch: November 2016

Founder: David Tobias

Based: Jumeirah Lake Towers

Sector: Technology

Size: 18 employees

Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake

Investors: Seed round was self-funded with “millions of dollars” 

Updated: February 07, 2024, 6:31 PM