US President Joe Biden said he hopes the ceasefire will be in place by March 4, about a week before the start of Ramadan. AP
US President Joe Biden said he hopes the ceasefire will be in place by March 4, about a week before the start of Ramadan. AP
US President Joe Biden said he hopes the ceasefire will be in place by March 4, about a week before the start of Ramadan. AP
US President Joe Biden said he hopes the ceasefire will be in place by March 4, about a week before the start of Ramadan. AP

World

US

Biden hopes Gaza ceasefire will be in place by next week

US has been working with Egypt and Qatar to broker deal that would lead Hamas to release all hostages in exchange for extended pause in fighting

The National

February 26, 2024

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Live updates: Follow the latest news on Israel-Gaza

US President Joe Biden said on Monday that he hopes there will be a ceasefire in the Israel-Gaza war in place by "the end of the weekend".

“My National Security Adviser [Jake Sullivan] tells me that we're close … we're not done yet,” he said during a visit to New York.

The US has been working with Egypt and Qatar to broker an agreement that would lead to Hamas releasing the remaining hostages in exchange for an extended pause in fighting.

An earlier proposal by the three sides was rejected by Israeli Prime Minister Benjamin Netanyahu after Hamas made a counter-offer that he called “delusional”.

The US earlier vetoed a UN Security Council resolution, tabled by Algeria, that called for an immediate ceasefire in Gaza.

Washington gave continuing negotiations with Cairo and Doha over a deal to enact a pause in the fighting as its reason.

Earlier on Monday, Mr Netanyahu’s office said that the Israeli army had presented to the war cabinet its operational plan for a ground offensive into Rafah, Gaza’s southernmost town.

About 1.4 million Palestinians have sought safety in the city, which is on the border with Egypt.

The war in Gaza began after Hamas militants killed about 1,200 people and kidnapped 240 in southern Israel on October 7, according to Israeli figures.

More than 29,700 people have been killed in Gaza since the war began, according to health authorities in the enclave.

Latest from the Israel-Gaza war – in pictures

  • Displaced Palestinians hold a white flag as they pass an Israeli tank position while fleeing the Hamad Town district of Khan Younis. Bloomberg
    Displaced Palestinians hold a white flag as they pass an Israeli tank position while fleeing the Hamad Town district of Khan Younis. Bloomberg
  • A Palestinian woman cuts material to be used for sewing nappies at a workshop in Rafah. AFP
    A Palestinian woman cuts material to be used for sewing nappies at a workshop in Rafah. AFP
  • Smoke rises following an explosion in Gaza, as seen from southern Israel. AP
    Smoke rises following an explosion in Gaza, as seen from southern Israel. AP
  • Parachutes carrying relief for Palestinians drop from an Egyptian Air Force cargo plane over central Gaza. Bloomberg
    Parachutes carrying relief for Palestinians drop from an Egyptian Air Force cargo plane over central Gaza. Bloomberg
  • A Palestinian boy who is suffering from malnutrition is treated at a healthcare centre amid widespread hunger. Reuters
    A Palestinian boy who is suffering from malnutrition is treated at a healthcare centre amid widespread hunger. Reuters
  • Palestinian children attend an English class in the library of the school housing displaced people in Rafah, the southern Gaza Strip. AFP
    Palestinian children attend an English class in the library of the school housing displaced people in Rafah, the southern Gaza Strip. AFP
  • An UNRWA-run school housing displaced Palestinians in Rafah. AFP
    An UNRWA-run school housing displaced Palestinians in Rafah. AFP
  • Palestinians search for bodies and survivors in the rubble of a residential building destroyed in an Israeli air strike in Rafah. AP
    Palestinians search for bodies and survivors in the rubble of a residential building destroyed in an Israeli air strike in Rafah. AP
  • A wounded Palestinian man who lost his wife and daughter walks past a neighbours' house destroyed by Israeli bombing in Rafah. AFP
    A wounded Palestinian man who lost his wife and daughter walks past a neighbours' house destroyed by Israeli bombing in Rafah. AFP
  • An injured man is rescued from the rubble after an Israeli air strike on the Rafah camp in Gaza. EPA
    An injured man is rescued from the rubble after an Israeli air strike on the Rafah camp in Gaza. EPA
  • Palestinians walk amid the rubble of houses destroyed by the Israeli bombardment of Gaza city. AFP
    Palestinians walk amid the rubble of houses destroyed by the Israeli bombardment of Gaza city. AFP
  • Aid is dropped into Gaza from US military aircraft. Reuters
    Aid is dropped into Gaza from US military aircraft. Reuters
  • Palestinians gather at air lorries in Gaza. More than 100 were killed when Israeli troops opened fire. AP
    Palestinians gather at air lorries in Gaza. More than 100 were killed when Israeli troops opened fire. AP
  • The sun sets behind destroyed buildings in Gaza. AFP
    The sun sets behind destroyed buildings in Gaza. AFP
  • A Palestinian man enters a heavily damaged house following an Israeli strike in Rafah, in the southern Gaza Strip. AFP
    A Palestinian man enters a heavily damaged house following an Israeli strike in Rafah, in the southern Gaza Strip. AFP
  • A wounded Palestinian is assisted at the site of an Israeli strike in Deir Al Balah, in the central Gaza Strip. Reuters
    A wounded Palestinian is assisted at the site of an Israeli strike in Deir Al Balah, in the central Gaza Strip. Reuters
  • Palestinians gather in the hope of getting bags of flour carried by air lorries near an Israeli checkpoint in Gaza city, as the enclave's residents face crisis levels of hunger. Reuters
    Palestinians gather in the hope of getting bags of flour carried by air lorries near an Israeli checkpoint in Gaza city, as the enclave's residents face crisis levels of hunger. Reuters
  • Palestinian children wait to receive food cooked by a charity kitchen as the conflict between Israel and Hamas continues in Gaza. Reuters
    Palestinian children wait to receive food cooked by a charity kitchen as the conflict between Israel and Hamas continues in Gaza. Reuters
  • A displaced Palestinian child holds a crying baby in a camp in Rafah, in the southern Gaza Strip. Reuters
    A displaced Palestinian child holds a crying baby in a camp in Rafah, in the southern Gaza Strip. Reuters
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Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
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  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

Meydan race card

6pm Dubai Trophy – Conditions(TB) $100,000 (Turf) 1,200m 

6.35Dubai Trophy – Conditions(TB) $100,000 (Turf) 1,200m
1,800m 

7.10pm Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m ,400m 

7.45pm Al Rashidiya – Group 2 (TB)  $180,000  (T) 1,800m 

8.20pm Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

8.55pm Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

9.30pm Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m  

Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

While you're here
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Director: Minkie Spiro

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THE SPECS

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Transmission: Constant Variable (CVT)

Power: 141bhp 

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Price: Dh64,500

On sale: Now

While you're here

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.”

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

Killing of Qassem Suleimani
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
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Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

Updated: February 27, 2024, 4:45 AM
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