US Secretary of State Antony Blinken speaks to the media at Ben Gurion International Airport in Tel Aviv before leaving Israel. AP
US Secretary of State Antony Blinken speaks to the media at Ben Gurion International Airport in Tel Aviv before leaving Israel. AP
US Secretary of State Antony Blinken speaks to the media at Ben Gurion International Airport in Tel Aviv before leaving Israel. AP
US Secretary of State Antony Blinken speaks to the media at Ben Gurion International Airport in Tel Aviv before leaving Israel. AP

Blinken’s latest Middle East trip yields few results amid row with Israel over Rafah


Willy Lowry
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  • Arabic

Live updates: Follow the latest news on Israel-Gaza

A three-day diplomatic blitz by US Secretary of State Antony Blinken appears to have failed to mend fences with Israeli leader Benjamin Netanyahu as the countries continue to butt heads over Israel's impending invasion of Rafah in southern Gaza.

Even before Mr Blinken left Israel, Mr Netanyahu doubled down on his support for a ground operation aimed at rooting out Hamas in Rafah, where more than a million Palestinians displaced from elsewhere in the enclave are sheltering.

Washington has repeatedly said it wants Israel to devise a plan that takes into consideration the safety of civilians before any operation begins.

Speaking after a meeting with Mr Blinken, Mr Netanyahu acknowledged the strong US support for Israel, particularly after October 7, when Hamas militants killed about 1,200 people in the south of the country, according to local officials, and kidnapped about 240.

“I told him that I greatly appreciate the fact that for more than five months we have been standing together in the war against Hamas,” Mr Netanyahu said.

“I also told him that we recognise the need to evacuate the civilian population from the combat zones and – of course – also see to the humanitarian needs, and we are working to this end.”

But the long-time Israeli leader added that his country's forces would go into Rafah regardless of US approval.

Benjamin Netanyahu acknowledges debate with US over plan to invade Rafah – video

“I also said that we have no way to defeat Hamas without entering Rafah and eliminating the remnant of the battalions there. I told him that I hope we would do this with US support but if necessary – we will do it alone,” he said.

Relations between the US and Israel have grown increasingly frosty as the war in Gaza has dragged on.

“You now have something much more profound and much more fundamental to the US-Israeli relationship,” Aaron David Miller, a former State Department Middle East analyst and current senior fellow at the Carnegie Endowment for International Peace, told The National.

“You have a huge crisis of confidence between the American President and Israeli Prime Minister, who has the most extreme right-wing government in the history of the country.”

According to Gaza health officials, about 32,000 Palestinians have been killed since Israel launched its onslaught on the Gaza Strip, the enclave’s infrastructure has been shattered and international aid agencies have warned of the possibility of famine.

But while Washington has taken a more critical tone towards its long-time ally, it has not yet held the Netanyahu government to account.

Israel targets Rafah with air strikes – in pictures

  • People inspect destroyed vehicles following deadly overnight Israeli bombardments of Rafah in the southern Gaza Strip. AFP
    People inspect destroyed vehicles following deadly overnight Israeli bombardments of Rafah in the southern Gaza Strip. AFP
  • A man stands in the rubble of a building hit by overnight Israeli air strikes in Rafah, where more than a million Palestinians have sought shelter. AFP
    A man stands in the rubble of a building hit by overnight Israeli air strikes in Rafah, where more than a million Palestinians have sought shelter. AFP
  • A building destroyed by overnight Israeli strikes on Rafah. AFP
    A building destroyed by overnight Israeli strikes on Rafah. AFP
  • The heavy bombardment caused widespread panic in Rafah because many people were asleep. Some feared Israel had begun its anticipated ground offensive on the city. Reuters
    The heavy bombardment caused widespread panic in Rafah because many people were asleep. Some feared Israel had begun its anticipated ground offensive on the city. Reuters
  • A building destroyed by overnight Israeli strikes on Rafah. AP
    A building destroyed by overnight Israeli strikes on Rafah. AP
  • Displaced Palestinians inspect the remains of their shelters at the Rafah refugee camp following overnight Israeli strikes. AFP
    Displaced Palestinians inspect the remains of their shelters at the Rafah refugee camp following overnight Israeli strikes. AFP
  • Shelters erected outside a damaged apartment building in the Rafah refugee camp, where food, water and medicine are becoming increasingly scarce. AFP
    Shelters erected outside a damaged apartment building in the Rafah refugee camp, where food, water and medicine are becoming increasingly scarce. AFP
  • An injured boy inside a building damaged by overnight Israeli strikes on Rafah. AFP
    An injured boy inside a building damaged by overnight Israeli strikes on Rafah. AFP
  • A woman and a man embrace a crying girl at Al Najjar Hospital in Rafah as they mourn relatives killed during the overnight bombardment. AFP
    A woman and a man embrace a crying girl at Al Najjar Hospital in Rafah as they mourn relatives killed during the overnight bombardment. AFP
  • A mourner cries as the dead bodies of victims are received in Rafah, where hospitals say their morgues are full. Getty Images
    A mourner cries as the dead bodies of victims are received in Rafah, where hospitals say their morgues are full. Getty Images

“They're angry, they're frustrated, but they've yet to impose a single cost or consequence,” Mr Miller said.

Speaking to reporters at the airport in Tel Aviv before returning to Washington after his sixth trip to the region since October 7, Mr Blinken avoided pushing back too hard against Israel's apparent intransigence over Rafah.

He said he had begun to lay out the US vision for Rafah, but was looking forward to next week when a senior Israeli team was expected to travel to Washington and go “through the details of what we see as the best way forward”.

But Mr Blinken did add that an invasion of Rafah risked “jeopardising” Israel’s “long-term security and standing” in the world.

As he met leaders in Israel, US, Egyptian, Qatari and Israeli officials were scheduled to meet in Doha for further discussions on a potential hostage deal.

“We've made progress in the last couple of weeks on the hostage negotiations, closing gaps,” Mr Blinken said.

“Almost by definition, when you get down to the last items, they tend to be the hardest. So there's still a lot of work to be done.”

His final meetings with Israeli leaders came on the same day China and Russia vetoed a US Security Council resolution that stressed the need for an “immediate” ceasefire.

After the vote, Mr Blinken said: “I think we were trying to show the international community a sense of urgency about getting a ceasefire tied to the release of hostages – something that everyone, including the countries that vetoed the resolution, should have been able to get behind … It’s unimaginable why countries wouldn’t be able to do that.”

The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

The specs: 2018 Ford F-150

Price, base / as tested: Dh173,250 / Dh178,500

Engine: 5.0-litre V8

Power: 395hp @ 5,000rpm

Torque: 555Nm @ 2,750rpm

Transmission: 10-speed automatic

Fuel consumption, combined: 12.4L / 100km

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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

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The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

The years Ramadan fell in May

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The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
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7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
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NO OTHER LAND

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Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 

 

 

UAE SQUAD

Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
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What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
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THE DETAILS

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Director: Ron Howard

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

Ponti

Sharlene Teo, Pan Macmillan

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."

MATCH INFO

Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90' 4)

Man of the match Harry Kane

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: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Moonfall

Director: Rolan Emmerich

Stars: Patrick Wilson, Halle Berry

Rating: 3/5

Meydan race card

6.30pm: Maiden; Dh165,000; (Dirt) 1,200m
7.05pm: Handicap; Dh170,000; (D) 1,200m​​​​​​​
7.40pm: Maiden; Dh165,000; (D) 1,900m​​​​​​​
8.15pm: Handicap; Dh185,000; (D) 2,000m​​​​​​​​​​​​​​
8.50pm: Handicap; Dh185,000; (D) 1,600m​​​​​​​
9.25pm: Handicap; Dh165,000; (D) 2,000m

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PSL FINAL

Multan Sultans v Peshawar Zalmi
8pm, Thursday
Zayed Cricket Stadium, Abu Dhabi

Updated: March 22, 2024, 6:51 PM