Live updates: Follow the latest news on Israel-Gaza
Group of Seven leaders said they were very concerned by the situation on the Israel-Lebanon border, at a summit of the top western nations in Italy on Thursday.
After a session on the Middle East at the start of the two-day summit, officials said attention had focused on the border between Israel and Lebanon, where Iran-backed Hezbollah has engaged in escalating retaliatory operations with the Israeli army.
A senior US official said specific security arrangements were needed as the bloc acknowledged that a ceasefire in Gaza was not enough to secure peace in the region.
The meeting also endorsed US efforts to secure a ceasefire, according to a draft communique circulating at the summit in Puglia.
The US, France and Israel have agreed to work together to advance a roadmap presented by Paris this year to defuse tensions between Hezbollah and Israel, French President Emmanuel Macron said.
"With the United States, we agreed on the principle of a trilateral (contact group), Israel, the United States and France, to advance on the roadmap that we proposed and we will do the same with the Lebanese authorities," Mr Macron said at the G7 leaders' summit.
Leaders reaffirmed their unwavering commitment to a two-state solution, just weeks after the Israeli government lashed out at Spain, Norway and Ireland for recognising a Palestinian state.
They called on Israel to refrain from a full-scale offensive in Rafah, “in line with their obligations under international law”. The G7 consists of the US, the UK, Canada, Germany, Japan, France and Italy.
The EU fully supports US President Joe Biden's proposal for a ceasefire, said EU Council president Charles Michel.
The bloc's three priorities are an end to the war, more humanitarian access and a pathway to a two-state solution.
“There is one lesson learnt: security without peace is not security,” Mr Michel told reporters.
“It's a very dark situation but we feel the window of opportunity must be seized so that we can relaunch a serious political track to make a decision regarding a two-state solution.”
Mr Michel was speaking after attending an emergency humanitarian conference for Gaza held in Jordan earlier this week.
“It's important for the EU to be represented and active in those debates,” he said, adding that he planned to debrief G7 leaders about the conversations he held.
Mr Michel lamented the polarisation in Europe caused by the Gaza war.
“There is a high price that we pay,” he said. “First, this is paid by the people specifically in the region but there are terrible consequences for others.”
The EU is an unofficial eighth member of the G7.
Hamas has welcomed the ceasefire proposal, but insists any agreement must secure an end to the war, a demand Israel still rejects.
Israel described Hamas's response to the new US peace proposal as total rejection.
Mr Biden said "the biggest hang-up so far" to a deal on a Gaza truce and hostage release is the Palestinian militant group.
"I've laid out an approach that has been endorsed by the UN Security Council, by the G7, by the Israelis, and the biggest hang-up so far is Hamas refusing to sign on even though they have submitted something similar," he said.
Since a brief week-long truce in November, repeated attempts to arrange a ceasefire have failed, with Hamas insisting on a permanent end to the war and full Israeli withdrawal from Gaza.
US National Security Adviser Jake Sullivan said Hamas had submitted an amended proposal with some minor changes that could be worked out, as well as others that were not in line with what Mr Biden had detailed or that had been embraced by the UN Security Council.
Mr Sullivan said Israel was standing behind the ceasefire proposal Mr Biden outlined in a May 31 speech, and that he had heard no Israeli leader challenge the deal.
The latest war started with a Hamas-led attack on Israel on October 7, during which about 1,200 people were killed and 240 taken hostage. The Israeli military response in Gaza has so far killed more than 37,200.
Mr Biden was expected to update G7 leaders on the ceasefire negotiations and how their countries could support the process, Mr Sullivan said, underscoring the broader implications for increasing tension between Israel and Lebanon.
Mr Biden would discuss “the increasing intensity and scope of the strikes by Hezbollah deeper into Israel, and including into civilian areas”, Mr Sullivan said, adding that a ceasefire in Gaza would help to bring calm to that region as well.
G7 leaders would also compare notes on what he called “the continuing threat posed by Iran, both with respect to its support for proxy forces, and with respect to the Iranian nuclear programme, where we continue to have grave concerns”.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
AT%20A%20GLANCE
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Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
UAE currency: the story behind the money in your pockets
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Hamilton profile
Age 32
Country United Kingdom
Grands Prix entered 198
Pole positions 67
Wins 57
Podiums 110
Points 2,423
World Championships 3
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
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UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Company%20profile
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