Israeli soldiers shot dead a Palestinian man after he approached them with his hands in the air during a raid in the old quarter of Nablus in the occupied West Bank on Tuesday.
The man, who was not identified, was one of what the Israeli army said were two terrorists who were “eliminated” after attempting to snatch a weapon from a soldier.
Footage and photos of the incident show a man wearing a white shirt, dark trousers and a red cap walking towards soldiers positioned at the entrance to a narrow passageway in one of the old city's lanes.
Once close, he appears to talk to them, arms still raised, before a series of shots ring out. Subsequent photos show the man lying on the ground, a red stain on his shirt, with another person also prone on the ground nearby, as soldiers stand over them.
The Israeli army said that “as a result of the attempt to steal the soldier’s weapon, several bullets were fired, moderately injuring one soldier, and lightly injuring three additional soldiers”.
Palestinian authorities said Nidal Amireh, 40, and his brother, Khaled, 35, died of their injuries after being shot by Israeli troops, who were withholding their bodies.
Dozens wounded in Nablus raids
In addition to the two deaths, Palestinian medics reported dozens of people injured during the raid as a result of either beatings by Israeli soldiers, being hit by shrapnel and from inhaling tear gas.
The Palestinian Red Crescent said many of the injured had to be treated in the old city after its ambulances were blocked from entering.
The Israel army said it arrested six wanted people, and seized weapons during a search of “over 250 structures” during the operation.
AFP reported that dozens of military vehicles entered the city shortly after midnight, after a curfew had been announced over loudspeakers the day before.
The raid was focused on the old city, a densely populated area bordering a large downtown square where young men and boys gathered to burn tyres and throw stones at the armoured vehicles. Israeli flags were raised over the roofs of buildings that had been turned into temporary bases for Israeli troops during the raid.
Nablus is in the northern West Bank, a Palestinian territory occupied by Israel since 1967.
The territory's north has been the target of a major Israeli military operation dubbed “Iron Wall” since January 21, two days after the start of a ceasefire in Gaza.
Violence has surged in the West Bank since the start of the Gaza war, caused by the unprecedented October 7, 2023 attack by the Palestinian militants group Hamas on southern Israel.
At least 938 Palestinians, including fighters but also many civilians, have been killed in the West Bank by Israeli soldiers or settlers, according to data from the Palestinian Authority.
During the same period, at least 35 Israelis, both civilians and soldiers, have been killed in Palestinian attacks or during Israeli military raids, according to official Israeli figures.
Global state-owned investor ranking by size
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The%20specs
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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.”
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
