Live updates: Follow the latest on Israel-Gaza
Negotiations on a Gaza ceasefire and the release of hostages held by Hamas have made significant progress, after both Israel and the militant Palestinian group softened their positions, sources familiar with the talks told The National on Friday.
They said Hamas has agreed to a temporary ceasefire lasting up to 40 days and dropped its demand for a written guarantee from mediators that Israel will continue talks until a permanent ceasefire is reached.
The truce will see a “limited” release of hostages, including female Israeli soldiers, in exchange for Palestinians held in Israeli jails, they said. Israel has also agreed to withdraw from a strip of land that runs the length of Egypt’s border with Gaza on the Palestinian side, which includes Rafah, the only crossing out of the coastal enclave that is not controlled by Israel, the sources added.
Meanwhile, Hamas confirmed in a statement that “indirect negotiations resumed in Doha", and it is ready “to reach an agreement”. It added that it will focus on a deal “that leads to a complete ceasefire and the enemy's withdrawal from Gaza”.
The White House said on Friday that brokering a ceasefire and hostage release deal “is both urgent and possible”.
“I don't have any breakthroughs to speak of today or announcements to make about participation physically,” US National Security Council spokesman John Kirby said. But he called Israel sending another negotiating team to Doha an “encouraging step”.
“We're going to be doing everything we can to see if we can broker a new ceasefire deal that will get the hostages home,” he told reporters on a call.
The resumption of stalled talks on a ceasefire represents a last-ditch attempt by the administration of US President Joe Biden to reach a deal before his departure from office on January 20.
But it comes as Israel intensifies assaults on the Palestinian enclave, with the Israeli army saying it struck about 40 sites linked to Hamas on Thursday and Friday. Nearly 90 Palestinians were killed and scores more wounded, Gaza's Government Media Office said in a statement.
“The Israeli army carried out 34 air strikes within 24 hours, targeting unarmed civilians across all governorates of the Gaza Strip,” the media office said.
Gaza city, in the north of the territory, has been particularly hit hard, with more than 15 Israeli attacks killing 50 people and wounding 120, according to Mahmoud Basal, spokesman for the enclave's civil defence authorities.
“What is happening in Gaza city is madness,” Mr Basal told The National. “It reflects the Israeli army's brutality and insatiable thirst for committing crimes against civilians without regard for international laws or treaties.”
He said civil defence teams were overwhelmed by distress calls. “We are no longer able to respond to all the calls for help amid the relentless bombardment. We urgently call for resources and equipment to enable the Civil Defence Directorate to fulfil its role in rescuing citizens.”
Mohammed Al Shobaki, 32, from Gaza city, said he was with his six-year-old son shopping for essentials when an air strike hit nearby. “They struck close to us, targeting a cart being pulled by a donkey,” he told The National. “Several people were martyred, and my son and I sustained moderate injuries.”
He said there had been constant shelling for two days, with people dying or being wounded every hour. “Every time there’s talk of a truce, the killing and brutality intensify,” he said. “The occupation tries to maximise its gains before any potential agreement. Gaza city is a prime target because of its dense population. Each strike seems to feed their appetite for death and destruction.”
Securing a ceasefire is a priority for the Biden administration, White House officials have said, but talks led by Washington have repeatedly stalled during 15 months of war.
One source close to the negotiations on Friday told The National: "The Israeli delegation that arrived in Doha today is continuing technical meetings that have been ongoing for some time in Qatar, aimed at bridging gaps between Hamas and Israel."
There are now concerns the Israelis could be preparing to intensify ground operations in Gaza city. Israeli media have quoted unnamed military sources in recent days saying army chief of staff Herzi Halevi has issued instructions to boost troop numbers in the area.
Mohammed Al Zayan, 27, from the city's Al Daraj neighbourhood, said escalating aerial bombings followed by a ground assault was a familiar strategy from the Israelis.
“We’ve grown used to the pattern,” he told The National. “Any military operation in Gaza city would be catastrophic, as the area is packed with displaced people. Tens of thousands of citizens are living in tents or on the streets, unable to find shelter or protect themselves from the cold – let alone from shelling and shrapnel.”
Hassan Al Asmar, 35, a father of three in Gaza city's Al Nasr neighbourhood, said every step outside his home was carefully calculated to mitigate the risks.
“Not an hour passes without hearing shelling or explosions,” he said. “Since the escalation began, I only leave the house for the most urgent necessities. The fear isn't just of death but of the lack of medical care if I or a family member were injured. I used to let my children play near our home, but now I’ve completely forbidden it.”
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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