Pep Montserrat for The National
Pep Montserrat for The National

Palestine's leaders have changed their language, but not their policy



On December 2, the Palestinian Authority president, Mahmoud Abbas, was back in Ramallah to a hero's welcome. A crowd, mostly Fatah supporters, cheered slogans reminiscent of those glorifying the late Palestine Liberation Organisation chairman Yasser Arafat. The sudden elevation of Mr Abbas's status was the result of a vote, on November 29, admitting Palestine to the UN as a non-member state. "Palestine has accomplished a historic achievement," Mr Abbas declared. "Now we have a state."

It was a remarkable turn of events, considering that two months earlier Ramallah was the scene of mass protests not witnessed in years. Neither Mr Abbas nor any of his officials was popular among fed-up, underpaid and despairing Palestinians.

But upon Mr Abbas's return, there seemed little need to dwell on the past, however recent. Thousands danced in the West Bank and Gaza, hailing the "victory" scored by the PA at the UN. The resolution at the UN General Assembly passed with an overwhelming majority of UN members: 138 votes in favour, nine against and 41 abstentions.

But to understand what transpired on that day, one needs to rewind about two years.

Soon after Egypt and other Arab countries followed Tunisia's revolutionary lead, Al Jazeera fashioned an interactive map of all Arab countries on its website. When a revolution ensued and chaos reigned supreme in any Arab country, the name of that country was highlighted in red, its place on the map shaded. It was a reductionist exercise at best, and, although subtle, a wish for revolution, or for something far more sinister. For nearly two years, "Palestine" on the Al Jazeera map remained unchanged, its name in black.

It was silly to think that an Arab Spring would reach Palestine in the same way it arrived to fully independent Arab countries, their peoples agonising under decades of unconcealed corruption, nepotism, sectarianism and outright dictatorship.

Palestine is not independent, hardly sectarian, and corruption and nepotism exist largely within political institutions affiliated with the PA, itself a creation of a lifeless political process that started with the Oslo accords nearly two decades ago. The PA subsists within the confines of the Israeli occupation, although it was meant to enjoy a temporary status that would, within a few years, lead Palestinians towards complete independence.

An independent country did not materialise. Nor did the PA manage to mobilise society towards fully functioning and accountable democratic institutions.

The issue of corruption in particular has frustrated Palestinians for years. It grew endemic in a political environment that requires transparent clarity of vision and objectives.

In an act of rare honesty in early February 2006, the PA's attorney general uncovered outright theft of nearly $700 million (Dh2.57bn) from PA coffers, mostly funds provided by the US, the EU and Arab governments.

The Guardian reported that Ahmed Al Meghami believed that billions of dollars may have been misappropriated in total. His office went on to order 25 arrests and to issue 10 international warrants related to fraud within the Palestinian Authority.

Despite the occasional "crackdown", Palestinian trust in their leadership remained scant. Last June, a poll published by the Palestinian Centre for Policy and Survey Research indicated that 72.9 per cent of Palestinians in the West Bank believed that PA institutions were corrupt. The results of the poll were highlighted mostly in Israeli media, and prompted little discussion among Palestine's own political elite.

With a lame political process, record expansion of illegal Jewish settlements, deepening corruption and a hopeless quest for unity among Palestinian factions, collective weariness in Palestine was becoming more palpable, but was somehow contained, through repression at times and a general sense of lethargy.

When the Egyptian dictator Hosni Mubarak was overthrown in Januarylast year, Palestinians in Gaza rejoiced, while those in Ramallah were suppressed with overwhelming force. As revolutions dragged on, the PA grew more wary of any attempt to challenge its rule.

On June 30 and July 1 last year, the PA police reacted with violence to peaceful protests in Ramallah's largest square. The beating of a large number of protesters went without any serious investigation. Complaints by local and international human-rights organisations also went unheeded. Human Rights Watch reported: "From January 2009 to July 2012, the Independent Commission for Human Rights (ICHR), the official Palestinian human rights ombudsman, received 584 complaints of torture and cruel, inhumane and degrading treatment by Palestinian security forces in the West Bank."

Concurrently, the official PA discourse grew more confused. Early in September last year, as general strikes and calls for the ousting of the PA government of Salaam Fayyad gripped major cities in the West Bank, Mr Abbas sought to take an early initiative. "The Palestinian Spring has begun, and we are in line with what the people say and what they want," he told Arab foreign ministers in Cairo.

Of course, nothing at all followed that poignant speech, not even cosmetic political changes, as is often the case with autocratic Arab governments when pressure mounts. Mr Abbas attempted to rebrand the issue as such: "Hunger is disloyal. We are trying to do what we can do to reduce prices."

But for two years, Mr Abbas desperately attempted to escape by pushing forward. Addressing a PLO meeting in Ramallah in July 2011, Mr Abbas tested the Arab Spring rhetoric once more. "In this coming period, we want mass action, organised and coordinated in every place." He called on Palestinians to wage "popular resistance" insisting that it must be "unarmed popular resistance so that nobody misunderstands us".

Mr Abbas needed any victory, no matter how insignificant, to be promoted to Palestinians as a "great achievement". He also needed a state, even only on paper, oddly imposed on a map dotted with settlements, military zones and an ever-growing Separation Wall.

Even when American pressure mounted on Mr Abbas to abandon his UN bid, it was no longer feasible that the 76-year-old leader would bow to the usual pressure.

Israel didn't make things any easier. On November 14 this year, Hamas, along with the resistance groups, scored what most Palestinians celebrated as a military victory over Israel in a fight Israel had initiated, and quickly called off.

"In the days that followed, the Palestinian Authority and Mr Abbas found themselves uncomfortably on the sidelines as Hamas rallied Egypt, Turkey, Qatar and other Arab countries to its cause," wrote TheNew York Times.

Hamas's representatives were for the first time regarded as representatives of all Palestinians. Mr Abbas understood that his UN moment would make or break the political future of his authority, his political party and him personally.

Palestine's UN membership reflected genuine solidarity with its cause by the majority of nations. For Mr Abbas it was a tactic nonetheless, aimed to offset a growing imbalance caused by frivolous peace talks, deep and growing corruption, and factional rivalry. The Arab Spring was the catalyst that destabilised the status quo in Palestine, forcing the PA to upgrade its language, without seriously upgrading its policies.

And soon after the Palestinians' party was over, Benjamin Netanyahu's government declared plans to further isolate Jerusalem and slice the West Bank into even smaller, disconnected parts. Then, few talked of symbolic victories or historic achievements. The only "facts on the ground" were now shaped by Israeli bulldozers, as has long been the case.

Ramzy Baroud is an internationallysyndicated columnist and the editor of PalestineChronicle.com. His latest book is My Father was a Freedom Fighter: Gaza's Untold Story

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Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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%3Cp%3E%3Cbr%3E%3Cstrong%3EUFC%20112%3A%3C%2Fstrong%3E%20Invincible%20(April%2010%2C%202010)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20Fight%20Night%3A%20%3C%2Fstrong%3ENogueira%20v%20Nelson%20(April%2011%2C%202014)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20242%3A%3C%2Fstrong%3E%20Khabib%20v%20Poirier%20(September%207%2C%202019)%3Cbr%3E%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EFight%20Island%201%3C%2Fstrong%3E%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20251%3A%3C%2Fstrong%3E%20Usman%20v%20Masvidal%20(July%2012%2C%202020)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20on%20ESPN%3A%3C%2Fstrong%3E%20Kattar%20v%20Ige%20(July%2016%2C%202020)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20Fight%20Night%3A%20%3C%2Fstrong%3EFigueiredo%20v%20Benavidez%202%20(July%2019%2C%202020)%3Cbr%3E%3Cbr%3EUFC%20on%20ESPN%3A%20Whittaker%20v%20Till%20(July%2026%2C%202020)%3Cbr%3E%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EFight%20Island%202%3C%2Fstrong%3E%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20253%3A%20%3C%2Fstrong%3EAdesanya%20v%20Costa%20(September%2027%2C%202020)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20on%20ESPN%3A%3C%2Fstrong%3E%20Holm%20v%20Aldana%20(October%204%2C%202020)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20Fight%20Night%3A%3C%2Fstrong%3E%20Moraes%20v%20Sandhagen%20(October%2011%2C%202020)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20Fight%20Night%3A%3C%2Fstrong%3E%20Ortega%20v%20Korean%20Zombie%20(October%2018%2C%202020)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20254%3A%20%3C%2Fstrong%3EKhabib%20v%20Gaethje%20(October%2024%2C%202020)%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cstrong%3EFight%20Island%203%3Cbr%3E%3Cbr%3EUFC%20on%20ABC%3A%3C%2Fstrong%3E%20Holloway%20v%20Kattar%20(January%2016%2C%202021)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20on%20ESPN%3A%3C%2Fstrong%3E%20Chiesa%20v%20Magny%20(January%2020%2C%202021)%3Cbr%3E%3Cbr%3E%3Cstrong%3EUFC%20257%3A%20%3C%2Fstrong%3EPoirier%20v%20McGregor%202%20(January%2024%2C%202021)%3Cbr%3E%3Cbr%3E%20%3Cbr%3E%3Cbr%3EUFC%20267%3A%20Blachowicz%20v%20Teixeira%20(October%2030%2C%202021)%3Cbr%3E%3Cbr%3EUFC%20280%3A%20Oliveira%20v%20Makhachev%20(October%2022%2C%202022)%3C%2Fp%3E%0A
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 
COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 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.”

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The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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