A Palestinian woman walks past a graffiti-filled wall in the West Bank. Palestine’s economy shrunk by 11.5 per cent last year, one of the sharpest contractions on record. AFP
A Palestinian woman walks past a graffiti-filled wall in the West Bank. Palestine’s economy shrunk by 11.5 per cent last year, one of the sharpest contractions on record. AFP
A Palestinian woman walks past a graffiti-filled wall in the West Bank. Palestine’s economy shrunk by 11.5 per cent last year, one of the sharpest contractions on record. AFP
A Palestinian woman walks past a graffiti-filled wall in the West Bank. Palestine’s economy shrunk by 11.5 per cent last year, one of the sharpest contractions on record. AFP

World Bank to donate $80m to boost Palestinian economic opportunities


Deepthi Nair
  • English
  • Arabic

The World Bank’s board has recommended the allocation of $80 million to support the economic welfare and durable opportunities for Palestinians.

The funds, in the form of grants, will be transferred from the bank’s income to the dedicated trust fund for Gaza and the West Bank, according to a statement from the Washington-based lender on Friday.

“In light of the Covid-19 pandemic, now in its second year, the impact of the May 2021 conflict with Gaza and the fiscal distress, the new replenishment comes at a critical time to help support Palestinian economic development while responding to these shocks to the economy and society,” Kanthan Shankar, World Bank country director for West Bank and Gaza, said.

The new replenishment comes at a critical time to help support Palestinian economic development
Kanthan Shankar,
World Bank country director for West Bank and Gaza

Last year was the worst on record for Palestinians in nearly three decades, as the Covid-19 pandemic compounded the effects of Israeli occupation, according to the United Nations Conference on Trade and Development (Unctad). A slow or inadequate recovery in 2021 will heighten the risk of bankruptcy for small and medium-sized enterprises brought to the brink by the pandemic, Unctad said in a September report.

The Palestinian economy shrank by 11.5 per cent in 2020, the second largest contraction since the establishment of the Palestinian National Authority in 1994, from growth of 1.4 per cent in 2019, according to Unctad data.

As economic activity ground to a halt last year, more than 66,000 employees lost their jobs and unemployment rose to 26 per cent. The labour force participation rate declined to 41 per cent in 2020, from 44 per cent in 2019. The crisis engulfed all sectors of the economy, including tourism, construction, services, industrial and agricultural sectors, Unctad said.

The World Bank approved a four-year strategy in May this year for Palestine that is focused on protecting lives and creating jobs amid the Covid-19 pandemic. The lender said earlier this year it expects the economy to grow by 3.5 per cent in 2021.

The funds, worth $80m, will support the bank’s assistance strategy, aimed at strengthening resilience and providing much-needed support for social protection, the World Bank said.

It also supports the recovery efforts in Gaza through cash-for-work opportunities for poor and vulnerable populations, and through the second phase of an energy sector multi-phase programmatic approach, according to the statement.

The funds will also contribute to a well-connected Palestinian economy that is more integrated into the regional and global markets with a particular focus on energy trade and digital connectivity. It will be particularly beneficial to private sector growth, including technology start-ups and the IT services sector, the statement added.

These efforts will help foster job creation and sustainable opportunities, the World Bank said.

Building on its partnership with the Palestinian Authority and co-ordination with donors, the World Bank Group will work with Palestinian policymakers to support the reform agenda in the priority areas of governance and public financial management, gender reform and climate change, as well as building investor confidence in the business environment, the statement said.

The World Bank granted an additional $9m to Palestine’s Innovative Private Sector Development Project in March to support start-ups and SMEs through financial and technical assistance.

It also approved a grant of $20m to improve access to high-speed broadband services in Palestinian territories in the same month.

The Palestinian Authority received 20 per cent less in international aid last year than in 2019, according to a World Bank report in February this year.

As a result, the authority faced a financing gap of about $1.1 billion last year, forcing it to deplete its reserves and start 2021 in “a tough fiscal position”.

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

BACK%20TO%20ALEXANDRIA
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ETamer%20Ruggli%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENadine%20Labaki%2C%20Fanny%20Ardant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
Short-term let permits explained

Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

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.

Gertrude Bell's life in focus

A feature film

At one point, two feature films were in the works, but only German director Werner Herzog’s project starring Nicole Kidman would be made. While there were high hopes he would do a worthy job of directing the biopic, when Queen of the Desert arrived in 2015 it was a disappointment. Critics panned the film, in which Herzog largely glossed over Bell’s political work in favour of her ill-fated romances.

A documentary

A project that did do justice to Bell arrived the next year: Sabine Krayenbuhl and Zeva Oelbaum’s Letters from Baghdad: The Extraordinary Life and Times of Gertrude Bell. Drawing on more than 1,000 pieces of archival footage, 1,700 documents and 1,600 letters, the filmmakers painstakingly pieced together a compelling narrative that managed to convey both the depth of Bell’s experience and her tortured love life.

Books, letters and archives

Two biographies have been written about Bell, and both are worth reading: Georgina Howell’s 2006 book Queen of the Desert and Janet Wallach’s 1996 effort Desert Queen. Bell published several books documenting her travels and there are also several volumes of her letters, although they are hard to find in print. Original documents are housed at the Gertrude Bell Archive at the University of Newcastle, which has an online catalogue.
 

UAE currency: the story behind the money in your pockets
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 258hp from 5,000-6,500rpm

Torque: 400Nm from 1,550-4,000rpm

Transmission: Eight-speed auto

Fuel consumption: 6.1L/100km

Price: from Dh362,500

On sale: now

Profile of RentSher

Started: October 2015 in India, November 2016 in UAE

Founders: Harsh Dhand; Vaibhav and Purvashi Doshi

Based: Bangalore, India and Dubai, UAE

Sector: Online rental marketplace

Size: 40 employees

Investment: $2 million

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
Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

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

On sale: now

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
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57%20Seconds
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MATCH INFO

Bayern Munich 2 Borussia Monchengladbach 1
Bayern:
 Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)

Man of the Match: Breel Embolo (Borussia Monchengladbach)

SPEC%20SHEET
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Coffee: black death or elixir of life?

It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?

Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.

The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.

The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.

Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver. 

The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.

But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.

Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.

It also raises blood pressure, which is largely problematic for people with existing conditions.

So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.

Rory Reynolds

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

A Long Way Home by Peter Carey
Faber & Faber

Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Updated: October 22, 2021, 5:10 AM