Israeli forces evict Palestinains from protest against settlements



BURIN, WEST BANK // Palestinians and activists were removed today from a new camp near a West Bank village, after a third attempt at the novel form of protest against Jewish settlement.

The Israeli army used tear gas to remove hundreds of people who had set up four temporary huts and three tents near Burin, south of Nablus in the northern West Bank, a witness said.

Journalists were also forcefully removed from the site. The witness said the army made arrests, but was not aware of injuries.

A spokesman for the army was unaware of the eviction, but said there was "a violent and illegal riot taking place near Burin".

"Approximately 150 Palestinians were gathering and hurling rocks at IDF (Israel Defence Forces) soldiers, who are responding with riot dispersal means," the spokesman said.

Earlier, residents and activists set up what they called "the neighbourhood... Al Manatir", the activist Abir Kopty said. The name means "the traditional stone huts Palestinians built in their agricultural lands, which were used as shelter for the watchmen of the fields", Ms Kopty said.

"Burin lost a lot of its land to the settlements around, Har Bracha and others, and is subject to settlers' terror and attacks on the people."
She said settlers had thrown stones at village residents and activists from afar before the army got involved. The witness said that after the eviction, one of the structures was taken away by a group of them.

In January, Palestinians put up a 24-tent protest camp on disputed land on the eastern outskirts of Jerusalem, dubbed Bab Al Shams or Gate of the Sun in Arabic, in a bid to draw attention to Israeli plans to build in the area, known as E1.

Later that month, activists set up an encampment of four tents and a structure under construction to protest against Israel's intention to confiscate land near Beit Iksa north-west of Jerusalem, naming it Bab Al Karama, or "Gate of Dignity."

Both encampments were later removed by the Israeli military which controls those parts of the occupied West Bank.

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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