Live updates: Follow the latest from Israel-Gaza
Gaza’s unemployment rate has surged to nearly 80 per cent and its economy contracted by almost 85 per cent during the past 12 months of Israeli bombardment, according to a new report.
The occupied West Bank’s economy also suffered, with unemployment levels reaching 34.9 per cent and the economy shrinking by 21.7 per cent between early October last year and the end of September 2024, compared to the previous period, the International Labour Organisation said in a report on Thursday.
The overall unemployment rate in the Occupied Palestinian Territory, comprising Gaza and the occupied West Bank, climbed to an average of 51.1 per cent, with the real gross domestic product plunging by an average of 32.2 per cent during the period.
“This contraction in real GDP is unprecedented in the [Occupied Palestinian Territory’s] recent history,” the International Labour Organisation said. “Even during the most severe economic downturn of the second Palestinian uprising against Israeli occupation in 2001, real GDP fell by 14.9 per cent, less than half the scale of the current decline.”
The continuing Gaza war has devastated Palestine’s economy, with infrastructure, housing and schools destroyed. More than 42,000 people have died, with thousands more injured, since the war broke out between Hamas and Israel on October 7.
It is expected to take decades to repair the damage to Palestine's economy, with the scale of devastation far surpassing the impact of conflicts in 2008, 2012, 2014 and 2021, UN Trade and Development said in a report last month.
Damage to critical infrastructure in Gaza in the first four months of the Israeli bombardment was estimated at $18.5 billion, a joint report by the World Bank and the UN said in April.
In the first half of 2024, Gaza's GDP fell by nearly 86 per cent due to Israel’s attacks, while the occupied West Bank's first-half GDP declined 25 per cent, the International Monetary Fund said this month.
“The impact of the war in the Gaza Strip has taken a toll far beyond loss of life, desperate humanitarian conditions and physical destruction,” said Ruba Jaradat, ILO regional director for Arab states.
“It has fundamentally altered the socio-economic landscape of Gaza, while also severely impacting the West Bank’s economy and labour market. The impact will be felt for generations to come.”
In terms of sectors, value added in construction and manufacturing dropped by 47.3 per cent, and by 35.4 per cent in the mining, water and electricity sector, driven by uncertainty and restrictions on labour and material movement. The information and communication services sector, “typically relatively resilient during wars,” declined by 18.5 per cent, the report said.
The wholesale and retail trade plunged 29 per cent, while the transportation and storage sector recorded a 33.5 per cent decline during the period. Financial and insurance activities as well as agriculture, forestry and fishing were also hit.
The economic downturn has devastated living standards, with real GDP per capita dropping by 33.4 per cent across the Occupied Palestinian Territories. In the Gaza Strip, per capita GDP plunged by 84.9 per cent, while in the West Bank, it decreased by 23.4 per cent, according to the report.
Labour force participation rates also declined from 45.2 per cent in the pre-war period (October 2022 – September 2023) to an average of 43.5 per cent during the war year, with some people stopping work altogether.
In the West Bank, the war has taken a severe toll on men, with employment plummeting by more than 28 per cent as job losses hit more than 150,000 Palestinian men who had been working in Israel. Real daily wages have also fallen.
“To pave the way for a sustainable recovery, an immediate cessation of war is essential, facilitating a building forward better approach that prioritises infrastructure development through employment-intensive infrastructure, decent job creation, skills development and inclusive economic support,” the ILO said.
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
JUDAS AND THE BLACK MESSIAH
Directed by: Shaka King
Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons
Four stars
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A
Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
'Texas Chainsaw Massacre'
Rating: 1 out of 4
Running time: 81 minutes
Director: David Blue Garcia
Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham
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
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
ESSENTIALS
The flights
Emirates, Etihad and Swiss fly direct from the UAE to Zurich from Dh2,855 return, including taxes.
The chalet
Chalet N is currently open in winter only, between now and April 21. During the ski season, starting on December 11, a week’s rental costs from €210,000 (Dh898,431) per week for the whole property, which has 22 beds in total, across six suites, three double rooms and a children’s suite. The price includes all scheduled meals, a week’s ski pass, Wi-Fi, parking, transfers between Munich, Innsbruck or Zurich airports and one 50-minute massage per person. Private ski lessons cost from €360 (Dh1,541) per day. Halal food is available on request.
ITU Abu Dhabi World Triathlon
Living in...
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.
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
MO
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Book%20Details
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