In the two weeks since Hamas militants infiltrated Israel in a cross-border attack and dealt it its severest blow in decades – killing nearly 1,400 people, injuring hundreds more and taking nearly 200 people hostage – the devastation has only widened, and a disproportionate price is being paid by Palestinian civilians.
In Israel's ensuing retaliatory attacks on Gaza, at least 4,385 Palestinians have been killed. Just in the past week, hospitals have been bombed in Gaza, entire families wiped out, children made orphans and parents left to burying their shrouded children.
In all of this acute despair, the faintest glimmer of hope was visible on Saturday when humanitarian aid was finally allowed in to the Gaza Strip. After a wait of more than a week by nearly 200 lorries queued on the Egyptian side of the Rafah crossing in the Sinai Peninsula, 20 lorries carried in essentials for the desperate population of Gaza. It is uncertain whether Israel will let in more aid or fuel, for fear of Hamas seizing it for its own ends.
For a population of 2.3 million in the Gaza Strip, however, 20 lorries of necessary supplies is a start but it is nowhere near sufficient. As UN Secretary General Antonio Guterres, said in Cairo, the aid cannot be a one-time delivery.
Fuel is needed in Gaza so that hospitals can use electricity; intensive care units, incubators for babies can function, and desalination units provide potable water, at the minimum. Even before October 7, the Israeli blockade kept Gazans in a chokehold, deprived of normality and fully dependent on aid to survive. "We heat the salt water and when it cools, we drink it," said Mahmoud Muhammad Al-Shorbaji, a resident of Gaza, just one among the barricaded 2.3 million trying to survive bombings, with no water, no bread, no electricity, fuel or respite.
The international community witnessing the siege of Gaza, watching images and reports of killings, must continue to rally together to end this war. A collective regional message of de-escalation was heard at the Cairo summit on Saturday. Even though a final statement did not emerge, an upside was the urgency with which the various stakeholders attempted to address the problem, a crucial first step. Indeed, the need for international mediation and diplomacy, as has been called for in these pages, has never been more urgent. It is the best, and perhaps only, way to resolve this crisis.
On Saturday, UAE President Sheikh Mohamed called for an immediate end to hostilities in Gaza. He joined leaders of Egypt, Jordan, Turkey, Qatar, Iraq, Saudi Arabia, Greece, Italy and Spain, foreign ministers of other nations, as well as organisations such as the UN, EU, the Arab League and the African Union, to speak in one voice, recognising the need to prevent this already disastrous war from raging further. In the war between Israel and Hamas, civilian lives, including that of children, must not be allowed to be collateral.
The coming together of divergent voices on a humanitarian issue of this scale is necessary to begin talk of a ceasefire, and embark on the elusive project of long-term peace for Palestinians and Israelis – and for stability of the entire region.
Israel's need to see the hostages return safely should be the government’s highest priority. On Friday, two US hostages came home. But even as Judith Raanan, 59, and her daughter Natalie, 17, were released from captivity in Gaza, there were almost 200 people still held by Hamas, among them reportedly 30 teenagers and children.
Hamas claims that Israeli air strikes have killed 20 among the hostages. More lives should not be added to that tally, for which talks remain crucial.
The anguish of families to get their loved ones back can only be imagined. It must be at the centre of reasons to call for a ceasefire, despite incendiary rhetoric from Israel’s Defence Minister, Yoav Gallant, of neutralising and destroying. “We shall demolish it [Gaza] and it will never be built again,” he has said.
The faint hope delivered by aid lorries and by the talks in Cairo has to be built on. There is no other choice. As one Arab diplomat said in Cairo of the summit, it's like breaking bread at gunpoint. The tragedy remains, though, that for people in Gaza, the situation has gone far beyond gunpoint and can get much worse still.
Live updates: Follow the latest news on Israel-Gaza
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
Killing of Qassem Suleimani
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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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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The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now