Live updates: Follow the latest on Israel-Gaza
The time has come to implement UN resolutions recognising Palestine as a state, said Maria Fernanda Espinosa, former president of the UN General Assembly.
“I have lost track of how many resolutions have passed through the General Assembly addressing this long-standing, protracted and unresolved conflict. I think it is about time for implementation,” Ms Espinosa told The National on Wednesday at the Raisina Middle East conference in Abu Dhabi.
A fragile truce between Israel and Hamas was brokered earlier this month, pausing more than a year of war that killed over 47,100 Palestinians and caused widespread destruction. Israel launched its assault after the October 7, 2023 attacks by Hamas, in which about 1,200 people were killed and 250 taken hostage.
Many officials say that lasting peace in the Middle East requires serious discussions on a two-state solution.
“We don't need to come up with anything revolutionary or new. There are international laws, mandates and commitments from the vast majority of UN members, calling for a two-state solution and peace in the Middle East,” said Ms Espinosa.
The complex, multiphase ceasefire, was enabled by the US and other mediators. However, after the inauguration of Donald Trump last week, the US President rescinded sanctions imposed by the previous Biden administration on far-right Israeli settler groups and people accused of violence against Palestinians in the occupied West Bank. He also called for Egypt and Jordan to take in Palestinians from Gaza.
“Who is going to benefit from real, sustainable and durable peace in the Middle East? The answer is everybody. I have heard Donald Trump wants peace. The way you build peace is by bringing all the parties together, ensuring that everyone makes compromises, and reaching an agreement that benefits those who have suffered,” said Ms Espinosa.
She emphasised the importance of a balanced approach: “We have a shared responsibility. If we want peace, it needs to be a people-centred peace – one that benefits all parties equally.”
Mr Trump signed this month an executive order titled “Putting America First in International Environmental Agreements”, directing the US to withdraw from the Paris Agreement and other international climate commitments.
Mr Trump also signed another executive order titled “Withdrawing the United States from the World Health Organisation”, initiating the process for the US to formally exit the WHO.
These decisions prompted widespread questions about their potential global impact.
“The environmental crisis we are facing is directly affecting and harming people,” said Ms Espinosa. “Sometimes, we focus too much on institutions and legal or normative frameworks. As diplomats, especially at the negotiation table, we tend to do this. But we often forget to ask: who are the people involved in this?"
“Climate change and its impacts do not respect borders. Nature doesn’t understand what a national border is. It’s a global crisis, and science has repeatedly proven this. The UAE has hosted a very successful COP, and I had the privilege of serving on its advisory committee. It demonstrated that when the world comes together, incredible things can happen,” she added.
Match info
Wolves 0
Arsenal 2 (Saka 43', Lacazette 85')
Man of the match: Shkodran Mustafi (Arsenal)
What is Bitcoin?
Bitcoin is the most popular virtual currency in the world. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency. A Bitcoin itself is essentially a line of computer code. It's signed digitally when it goes from one owner to another. There are sustainability concerns around the cryptocurrency, which stem from the process of "mining" that is central to its existence.
The "miners" use computers to make complex calculations that verify transactions in Bitcoin. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers.
Despacito's dominance in numbers
Released: 2017
Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon
Views: 5.3 billion on YouTube
Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification
Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.
Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
CREW
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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.
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A list of the animal rescue organisations in the UAE
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score)
Porto (0) v Liverpool (2), Wednesday, 11pm UAE
Match is on BeIN Sports
RESULTS
2.30pm Jaguar I-Pace – Conditions (PA) Dh80,000 (Dirt)
1,600m
Winner Namrood, Antonio Fresu (jockey), Musabah Al Muhairi
(trainer)
3.05pm Land Rover Defender – Maiden (TB) Dh82,500 (D)
1,400m
Winner Shadzadi, Tadhg O’Shea, Bhupat Seemar
3.40pm Jaguar F-Type – Maiden (TB) Dh82,500 (Turf) 1,600m
Winner Tahdeed, Fernando Jara, Nicholas Bachalard
4.15pm New Range Rover – Handicap (TB) Dh87,500 (D) 1,400m
Winner Shanty Star, Richard Mullen, Rashed Bouresly
4.50pm Land Rover – Handicap (TB) Dh95,000 (T) 2,400m
Winner Autumn Pride, Bernardo Pinheiro, Helal Al Alawi
5.25pm Al Tayer Motor – Handicap (TB) Dh95,000 T) 1,000m
Winner Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm Jaguar F-Pace SVR – Handicap (TB) Dh87,500 (D) 1,600m
Winner Scabbard, Sam Hitchcock, Doug Watson
ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
RESULT
Aston Villa 1
Samatta (41')
Manchester City 2
Aguero (20')
Rodri (30')
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Scoreline:
Manchester City 1
Jesus 4'
Brighton 0
