Live updates: Follow the latest on Israel-Gaza
Sheikh Abdullah bin Zayed, Deputy Prime Minister and Minister of Foreign Affairs and Gideon Saar, Israeli Foreign Affairs Minister, have spoken about enabling the “urgent, sustainable, safe and unhindered” entry of aid into Gaza.
In a phone call reported by Wam, the pair are said to have found agreement to “allow the delivery of urgent humanitarian aid from the UAE. The aid will address the food needs of approximately 15,000 civilians in Gaza in the initial phase.”
Wam also reported that Sheikh Abdullah and Mr Saar discussed international mediation efforts to broker a truce and secure the release of the remaining hostages in Gaza.
Emergency response
A charity organisation in Sharjah has launched a scheme to deliver fresh bread to Gaza.
The project will run as part of an initiative under the UAE’s broader Gallant Knight 3 campaign launched by President Sheikh Mohamed to support Gaza’s civilians.
A Dh750,000 monthly budget has been allocated to the project being helmed by Sharjah Charity International, as part of an emergency response to the worsening humanitarian situation in the enclave.
“This project is designed to help some of the most vulnerable groups especially children, the elderly, and displaced families who are living in extremely difficult conditions due to the ongoing crisis,” said Abdullah Sultan bin Khadim, executive director of Sharjah Charity International.
“Operating the bakeries will provide people with bread, a daily essential, and builds on our earlier efforts, including digging 12 wells and running community kitchens to supply food to those affected.
“The bakery project alone is expected to supply bread to 20,000 people every day, making it one of the largest food aid initiatives currently serving the Gaza Strip, where there is a severe shortage of supplies and limited bakery capacity.”
He said the project would ensure aid reaches those most in need while maintaining their dignity and addressing their essential needs. He urged the public in the UAE to support the bakery programme by donating.
How to help
“We have made the donation process easy and secure. People can contribute via Apple Pay, Samsung Pay, SMS, or through our official website, he said. “Cash donations are also accepted at the charity’s offices, mosques, and retail locations.
“Every contribution, no matter how small, can change the life of a family that has lost everything. A quick response from donors allows us to expand the reach of support to as many people as possible in the coming days.
“We see it as our responsibility to continue supporting the people of Gaza, and we remain committed to sustainable humanitarian work that upholds human dignity and helps communities stay resilient in the face of hardship.”
The charity recently launched a fundraising campaign to collect Dh2.6 million for life-sustaining projects in Gaza. Of this, Dh1.2 million will go toward digging 12 new wells for clean water which is expected to benefit more than 312,000 people while Dh1.4 million will help fund the kitchens. The projects together aim to serve more than 45,000 people daily.
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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.”
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Zayed Sustainability Prize
Dust and sand storms compared
Sand storm
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- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
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- 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
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- Premier League-standard football pitch
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- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
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Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
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