Antony Blinken, the US Secretary of State, is in the Middle East pushing for a ceasefire deal. AFP
Antony Blinken, the US Secretary of State, is in the Middle East pushing for a ceasefire deal. AFP
Antony Blinken, the US Secretary of State, is in the Middle East pushing for a ceasefire deal. AFP
Antony Blinken, the US Secretary of State, is in the Middle East pushing for a ceasefire deal. AFP

Blinken welcomes 'hopeful' sign of Gaza ceasefire progress after Hamas signals support


Thomas Helm
  • English
  • Arabic

Live updates: Follow the latest on Israel-Gaza

A statement of support from Hamas for a UN resolution backing a ceasefire in Gaza was a “hopeful” indication of progress, US Secretary of State Antony Blinken said on Tuesday.

His comments came soon after a senior Hamas official told Reuters that the group supports a UN Security Council ceasefire resolution that was passed yesterday and is ready to discuss details.

Mr Blinken, on his eighth trip to the region since the war in Gaza broke out in October, was speaking after meetings with Israeli officials aimed at pushing for the ceasefire plan.

He said Israeli Prime Minister Benjamin Netanyahu had “reaffirmed his commitment” to a ceasefire proposal at a meeting on Monday.

Both warring parties will still have to overcome key sticking points, in particular Mr Netanyahu’s insistence that fighting in Gaza will end only when Israel has achieved its war aims.

Mr Blinken also met Israeli opposition politicians on Tuesday.

The office of former war cabinet minister Benny Gantz issued a statement in reference to Lebanon, saying “the [US] together with the international community have an important role to play in removing the threat posed by Hezbollah on Israel’s northern border”.

Fighting between Israel and Hezbollah has been steadily increasing in intensity and fears are mounting that a fully fledged war is nearing.

The statement added that Mr Gantz’s National Unity party “will support any responsible arrangement” to secure the release of Israeli hostages held in Gaza.

Mr Gantz urged Mr Blinken to apply “maximum pressure” on negotiators to reach a hostage release deal.

Mr Blinken also met opposition leader Yair Lapid.

Before arriving in Israel, the US Secretary of State met Egyptian President Abdel Fattah El Sisi in Cairo on Monday. Mr Blinken is set to travel to Jordan on Tuesday to attend a conference on the humanitarian response in Gaza.

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if you go

The flights

Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.

The hotel

Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850

 Events and tours

There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com

For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art. 

More information

For ideas on planning a trip to Scotland, visit www.visitscotland.com

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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

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Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

Engine: 5.6-litre V8

Transmission: seven-speed automatic

Power: 400hp

Torque: 560Nm

Price: Dh234,000 - Dh329,000

On sale: now

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.”

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RESULT

Brazil 2 Croatia 0
Brazil: 
Neymar (69'), Firmino (90' 3)    

Updated: June 11, 2024, 10:23 AM