RAMALLAH // It must be assumed that the discussion at the somewhat reluctantly and hastily arranged meeting in Washington last night between Barack Obama, the US president, and Benjamin Netanyahu, the Israeli prime minister, would have focused almost exclusively on the future of the Palestinian-Israeli peace process.
Certainly, Palestinian leaders and officials are publicly declaring that future is at risk. In Hebron, on Sunday, Mahmoud Abbas, the head of the Palestine Liberation Organisation and Palestinian Authority (PA), said there was "no possibility of establishing a Palestinian state while settlements continue", and urged Israelis to ponder what they really wanted, "if they want peace".
He reiterated his position that there could be no resumption of negotiations with Israel while the settlement construction continued. A freeze on such construction is one of the obligations on Israel under the 2003 Quartet-sponsored road map. It is also the main reason Mr Abbas cited last Thursday for his desire not to seek re-election in any new Palestinian elections.
The Quartet is composed of the United States, Russia, the European Union and the United Nations.
Saeb Erekat, the PLO's chief negotiator, last week warned that it would not rule out any option, including abandoning the two-state solution and dismantling the PA to pursue a one-state solution, in which Palestinians would push for equal rights alongside Jews on all the territory of historic Palestine. He, too, cited Israeli settlement construction as the main obstacle to the peace process.
The Israeli media, meanwhile, have been rife with rumours that Salam Fayyad, the PA prime minister, has struck a secret agreement with the US to unilaterally declare an independent Palestinian state. PA officials have rejected those reports, but the idea of unilaterally declaring statehood is not a new one and was only narrowly rejected by Yasser Arafat after negotiations collapsed at Camp David in 2000.
Both the US and Israel have remained muted in their reactions to these statements. In Israel, Mr Abbas's stated desire not to run for re-election is seen by many as simply a political manoeuvre.
"Israelis see it as a transparent ploy to put pressure on Israel," said Gerald Steinberg, a professor of political science at Bar Ilan University in Tel Aviv. "The Israeli inclination is to see it as primarily a Palestinian issue."
Mr Steinberg rejected talk of a one-state solution as a "very unlikely process" that "wouldn't make any difference as far as Israel was concerned". He said statements by Palestinian officials that the peace process was at risk were "an empty threat".
"Israelis don't see the peace process as endangered because it never really started again."
Nevertheless, it is hard to avoid the conclusion that the Palestinian-Israeli peace process may have run its course.
The Palestinian negotiating position has been constant since the Oslo process, and Mr Abbas has in recent days reiterated that position. A two-state solution for the Palestinian leadership means an independent Palestinian state created on the 1967 borders, with minor adjustments and equal territorial swaps. East Jerusalem should become the capital of a Palestinian state while a "formula" will be agreed between the parties for the return of Palestinian refugees. This among Palestinian politicians is known as the "historic compromise", a compromise because it gives up Palestinian claims to 78 per cent of historic Palestine.
Even Hamas, the Islamist movement that is implacably opposed to any peace process with Israel, has declared that under such a scenario it would enter into a generation-long ceasefire with Israel and leave it to future generations to decide whether this should be the long-term solution.
Israelis, however, reject this approach. As far as successive Israeli governments have been concerned, the peace process meant negotiating over what territory of the West Bank and Gaza Palestinians might exercise self-rule over.
Ariel Sharon, the stricken former prime minister, was the first sitting Israeli government leader to talk officially of Palestinian statehood, but only over a limited amount of occupied territory.
Mr Netanyahu has reluctantly endorsed the idea of Palestinian statehood and only in the most lukewarm of terms. Meanwhile, any talk of Jerusalem, unilaterally annexed by Israel in 1967, is an Israeli "concession" in itself while a return of refugees to Israel itself would at most be symbolic.
Throw into the mix Israeli settlements, illegal under international law, which continue to grow, taking more of the territory that Palestinians envisage for their state, and with it any incentive for Palestinian leaders to continue negotiating. There are now half a million Jewish settlers residing in occupied territory. Nine of them sit in the Israeli cabinet, and the current Israeli coalition is committed to the settlement project.
With positions this far apart, a negotiations process, even if it could get off the ground, would seem moribund from the outset. That may be bearable for Israelis, at least in the absence of a third intifada, but it is not for Palestinians, who continue to live under military occupation, with the attendant restrictions on their movement and economy as well as recourse to the law.
In this context, Palestinians largely feel the options have run out.
"We are stuck, the Israelis are stuck and so are the Americans," said Mustafa Abu Sway, a political scientist at Al Quds University.
"Practically, people may be pushed to a one-state solution even if it is not their declared aim," Mr Abu Sway said. "There is no progress in [Palestinian-Israeli] talks, there is no willingness on the part of Netanyahu to consider the 1967 borders as the borders, settlements continue to expand. On the ground, Israel is pushing for a one-state solution without knowing it, by making a two-state solution impossible."
okarmi@thenational.ae
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
Four tips to secure IoT networks
Mohammed Abukhater, vice president at FireEye in the Middle East, said:
- Keep device software up-to-date. Most come with basic operating system, so users should ensure that they always have the latest version
- Besides a strong password, use two-step authentication. There should be a second log-in step like adding a code sent to your mobile number
- Usually smart devices come with many unnecessary features. Users should lock those features that are not required or used frequently
- Always create a different guest network for visitors
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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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.”
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
Results
1. New Zealand Daniel Meech – Fine (name of horse), Richard Gardner – Calisto, Bruce Goodin - Backatorps Danny V, Samantha McIntosh – Check In. Team total First round: 200.22; Second round: 201.75 – Penalties 12 (jump-off 40.16 seconds) Prize €64,000
2. Ireland Cameron Hanley – Aiyetoro, David Simpson – Keoki, Paul Kennedy – Cartown Danger Mouse, Shane Breen – Laith. Team total 200.25/202.84 – P 12 (jump-off 51.79 – P17) Prize €40,000
3. Italy Luca Maria Moneta – Connery, Luca Coata – Crandessa, Simone Coata – Dardonge, Natale Chiaudani – Almero. Team total 130.82/198.-4 – P20. Prize €32,000
Scoreline
Ireland 16 (Tries: Stockdale Cons: Sexton Pens: Sexton 3)
New Zealand 9 (Pens: Barrett 2 Drop Goal: Barrett)
Arsenal's pre-season fixtures
Thursday Beat Sydney 2-0 in Sydney
Saturday v Western Sydney Wanderers in Sydney
Wednesday v Bayern Munich in Shanghai
July 22 v Chelsea in Beijing
July 29 v Benfica in London
July 30 v Sevilla in London
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
SQUADS
UAE
Mohammed Naveed (captain), Mohamed Usman (vice-captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Nepal
Paras Khadka (captain), Gyanendra Malla, Dipendra Singh Airee, Pradeep Airee, Binod Bhandari, Avinash Bohara, Sundeep Jora, Sompal Kami, Karan KC, Rohit Paudel, Sandeep Lamichhane, Lalit Rajbanshi, Basant Regmi, Pawan Sarraf, Bhim Sharki, Aarif Sheikh
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
