Israel has granted European spymasters access to parts of the secret Iranian nuclear files spirited by Mossad from Tehran ahead of a visit by Benjamin Netanyahu to Germany, France and Britain this week.
The European powers' dogged determination to uphold the 2015 agreement even after President Donald Trump pulled the US out of the accord has dismayed Mr Netanyahu.
A briefing dossier prepared for the trip shows key parts of the Iranian government's work to convert the country’s nuclear development activities into an atomic bomb. Israel said the material proves Iran harbours plans to build a bomb.
Protests are expected to dog Mr Netanyahu over the bloodshed on the Gaza border, where Israeli forces turned their guns on demonstrators asserting their right to return on the 70th anniversary of the Nakba expulsions. However the Israeli leader hopes to keep the focus of his visit on his country's preoccupation with Iran.
David Albright, a US expert on Iran's nuclear programme, told the Times newspaper that the memos culled from the trove of material Israel took from Iran should prompt those still in the deal to set an ultimatum to Iran. Mr Albright said the Israeli revelations underpinned his belief that Iran's Fordow underground enrichment facility was designed to produce weapons-grade uranium.
He said Iran should now face demands for an audit of its military bases for hidden nuclear activity.
“If it refuses then the Iran agreement should be discarded and the world should return to a pressure campaign and the re-imposition of sanctions,” he said.
Mr Netanyahu began his tour with a meeting with German Chancellor Angela Merkel and is set to hold working discussions with French President Emmanuel Macron and British Prime Minister Theresa May.
"I will meet there with three leaders and will discuss two subjects: Iran and Iran," he said at the airport before leaving. "It could be that on this matter there isn't a consensus right now, but with time, in my opinion, that understanding will be reached."
Peter Lintl, a German international relations expert, said the visit was likely to do little to change minds in the short term, especially in Berlin which has close trading ties with Iran. “Germany believes that the nuclear agreement with Iran was a step in the right direction,” he said. “Israel, on the other hand, says that the agreement offers Iran the opportunity to develop a nuclear bomb — even under the guise of alleged legitimacy — thanks to the deal.”
Israeli officials said Mr Netanyahu was ready to chip away at European support for the deal, viewing the difficulties of maintaining the deal as rising over time.
"There's no secret that the prime minister wants to completely change the agreement and replace it with an agreement that covers the issues that are missing," said Oded Eran, a former Israeli ambassador now working at the Institute for National Security Studies at Tel Aviv University. "I don't think that he will change the policy, but he will get maybe a commitment to work on the missing points."
The second aspect of the discussion on Iran is the country’s position in Syria where Mr Netanyahu fears the establishment of a permanent Tehran-controlled military presence within striking distance of his country. “Israel will continue to maintain full freedom of action in the country in accordance with its security needs,” the Israeli leader told a cabinet meeting before his departure.
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Amid growing debate in France about the rise of anti-Semitism, Mr Netanyahu and Mr Macron are set to launch a far-reaching programme of cultural exchanges that will see approximately 400 events staged in both countries.
The two leaders will take part in a gala launch titled Israel@Lights at the Grand Palais gallery on Paris's Champs Elysées.
In Britain, concerns over anti-anti-Semitism are focused at the political level, with the opposition Labour party under fire for harbouring activists with hateful views. Commentators in Israel have said that under the Conservative government and with the prospect of Britain leaving the EU, ties with London are closer than at any time since the creation of Israel.
The first official visit by a senior member of the royal family will take place when Prince William travels to the region in a few weeks. The Haaretz newspaper said the visit would lift one of the "black clouds" that had lingered since the end of the British mandate in Palestine in 1948. "Israel's foreign service considers the upcoming event to be a breakthrough," the newspaper said. "On numerous occasions in the past, various individuals and organisations sought to invite the queen herself or representatives of the crown to Israel, but the Foreign Office blocked the moves."
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.”
Bio
Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Killing of Qassem Suleimani
Killing of Qassem Suleimani
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The specs
Engine: 2.0-litre 4-cyl turbo
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Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
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Engine: Four electric motors, one at each wheel
Power: 579hp
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Transmission: Single-speed automatic
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The Lowdown
Kesari
Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
