Israel carried out air strikes on Friday after Gaza militants fired rockets as tensions soared following an Israeli raid in the occupied West Bank that killed 10 Palestinians in Jenin.
A 61-year-old woman was among those killed in what was the deadliest single raid in the territory for more than two decades.
The flare-up poses an early test for Israeli Prime Minister Benjamin Netanyahu’s far-right government and casts a shadow on US Secretary of State Antony Blinken’s expected trip to the region next week.
The UAE condemned the Israeli forces' storming of the Jenin refugee camp on Thursday, calling on Israeli authorities to prevent the situation from escalating further.
In a statement, the UAE’s Ministry of Foreign Affairs and International Co-operation called on Israeli authorities to assume responsibility for reducing instability in the region.
“The ministry stressed the need to support all regional and international efforts to advance the Middle East peace process, end illegal practices that threaten the two-state solution and establish an independent Palestinian state on the 1967 borders with East Jerusalem as its capital,” it said.
The GCC condemned in the “strongest terms the continued Israeli incursions into the occupied Palestinian cities and the repeated attacks on them”.
Of the five rockets fired at Israel, three were intercepted, one fell in an open area and another fell short inside Gaza, the Israeli military said. It said the air strikes had targeted an underground rocket manufacturing site for Hamas, as well as militant training areas.
The rockets set off air raid sirens in southern Israel but there were no reports of casualties on either side.
Both the Palestinian rockets and Israeli air strikes seemed limited so as to prevent escalation into a full-blown war. Israel and Hamas have fought four wars and several smaller skirmishes since the militant group came to power in Gaza in 2007.
Thursday’s deadly raid in Jenin is likely to reverberate on Friday as Palestinians gather for weekly Muslim prayers that are often followed by protests. Hamas had earlier threatened revenge for the raid.
Dr Anwar Gargash, diplomatic adviser to the UAE President, described Israel’s actions in Jenin as “dangerous and worrying”.
“The Israeli escalation in Jenin is dangerous and worrying and undermines international efforts to advance the priority of the peace agenda,” he said in a tweet on Friday.
“The UAE, China and France moved to convene a Security Council meeting that confirms the will of the international community to give priority to peaceful solutions and to promote communication and dialogue instead of confrontations and escalation, which results in further complexity and aggravation."
Among those confirmed dead in Jenin was Majeda Obeid, 61, who lived a few metres from the house targeted by the Israeli forces.
Her daughter, Kefiyat Obeid, told AFP her mother was shot as she peered out of her window at the clashes.
“After she finished her prayers, she stopped for a moment to look and, as she stood up, she was hit in the neck by a bullet and she fell against the wall and then to the floor,” the 26-year-old said. Bloodstains are soaked into the rug at their home.
The Israeli military said the incursion on Jenin was aimed at Islamic Jihad militants who were allegedly behind attacks on Israeli soldiers and civilians and, according to Defence Minister Yoav Gallant, were planning “to conduct a terror attack in Israel”.
Three Palestinians were shot in a firefight, while Israeli forces shot another two “fleeing the scene”, an army statement said. Israeli forces also shot a sixth suspect inside a building and other Palestinians were hit after firing on troops, the army said.
There were no casualties among Israeli forces, the military added.
The Palestinian Authority also confirmed it would halt the ties that its security forces maintain with Israel in a shared effort to contain militants. Previous threats have been short-lived, in part because of the benefits the authority enjoys from the relationship and also due to US and Israeli pressure to maintain it.
Palestinian Authority spokesman Nabil Abu Rudeineh said President Mahmoud Abbas had decided to cut security co-ordination in “light of the repeated aggression against our people”. He also said the Palestinians planned to file complaints with the UN Security Council, International Criminal Court and other international bodies.
Barbara Leaf, the top US diplomat for the Middle East, said President Joe Biden's administration was deeply concerned about the situation and that civilian casualties reported in Jenin were “quite regrettable”. But she also said the Palestinian announcement that it would suspend security ties and to pursue the matter with international organisations was a mistake.
Fight card
- Aliu Bamidele Lasisi (Nigeria) beat Artid Vamrungauea (Thailand) POINTS
- Julaidah Abdulfatah (Saudi Arabia) beat Martin Kabrhel (Czech Rep) POINTS
- Kem Ljungquist (Denmark) beat Mourad Omar (Egypt) TKO
- Michael Lawal (UK) beat Tamas Kozma (Hungary) KO
- Zuhayr Al Qahtani (Saudi Arabia) beat Mohammed Mahmoud (UK) POINTS
- Darren Surtees (UK) beat Kane Baker (UK) KO
- Chris Eubank Jr (UK) beat JJ McDonagh (Ireland) TKO
- Callum Smith (UK) beat George Groves (UK) KO
MATCH INFO
Burnley 0
Man City 3
Raheem Sterling 35', 49'
Ferran Torres 65'
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
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.”
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
Water waste
In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
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