Israel has come under a barrage of Arab and European criticism after its finance minister denied the existence of the Palestinian people.
It was the latest controversy involving members of the ultra-right government of Prime Minister Benjamin Netanyahu, which came to power in December and took what Palestinian and Jordanian officials describe as provocative actions aimed at undermining the two-state solution.
“There are no Palestinians, because there isn't a Palestinian people,” Israeli Minister of Finance Bezalel Smotrich said on Sunday.
He was speaking at a memorial service in Paris attended by members of France's Jewish community He spoke from behind a flag depicting expanded Israeli borders that incorporated Jordan and the Palestinian territories.
In early January, days after Mr Netanyahu's government took office, National Security Minister Itamar Ben-Gvir, another hardline Israeli official, entered the Al Aqsa Mosque compound in occupied East Jerusalem, in action seen widely seen in the Middle East as provocative.
Jordan’s Foreign Minister Ayman Al Safadi said on Tuesday that Mr Smotrich's remarks and the optics of his speech were provocative and "exclusionary".
Mr Al Safadi said the actions "will not undermine us, nor the rights of the Palestinian people".
"The right of existence of the Palestinian people is not cancelled by extremists' statements," Mr Al Safadi said. He called for the revival of the two-state solution to achieve Palestinian-Israeli peace.
Jordan and Israel signed a peace treaty in 1994.
"Killing the two-state solution will ingrain racial separation [in Palestine] and lead to more tension," Mr Al Safadi said.
An official source told Reuters that Israel's national security advisor had called Mr Safadi to assure him that Israel respected his country's sovereignty and territorial integrity.
Mr Safadi said his government could adopt further steps if Israel repeated such provocations, but did not elaborate.
Israel's Foreign Ministry wrote on Twitter: "Israel is committed to the 1994 peace agreement with Jordan. There has been no change in the position of the State of Israel, which recognizes the territorial integrity of the Hashemite Kingdom."
Jordan was stepping up a diplomatic campaign to pressure Israel to lift heavy-handed security measures during the fasting month of Ramadan beginning later this week, Safadi said.
The comments by Mr Smotrich prompted Jordan on Monday to summon Israel's ambassador to Jordan, Eitan Sorkis, to receive a rebuke.
The UAE has also condemned the speech.
The UAE Ministry of Foreign Affairs and International Co-operation said the UAE “rejected the incitement rhetoric and all practices that contradict moral and human values and principles”.
Oman also issued a "total rejection" of Mr Smotrich's "irresponsible and provocative" comments.
On Monday, EU foreign policy chief Josep Borrell called Mr Smoprtich's remarks conterproductive, especiallu in the situation which is already very tense".
"Could you Imagine if a Palestinian leader would say that the Israeli state doesn’t exist," he said. "What would have been the reaction?”.
Palestinian prime minister Mohammad Shtayyeh said ahead of a cabinet meeting on Monday the "inflammatory statements" made by Mr Smotrich provided "conclusive evidence of the extremist, racist Zionist ideology... of the current Israeli government".
Egypt, which in 1979 became the first Arab country to recognise and sign a peace treaty with Israel, condemned the "inflammatory and unacceptable" as well as "racist" remarks, Cairo's foreign ministry said in a statement.
Barcelona 3
Messi (27’, 32’, 87’)
Leganes 1
El Zhar (68’)
The Vines - In Miracle Land
Two stars
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
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%3Cp%3ECreated%20by%3A%20Darren%20Star%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Lily%20Collins%2C%20Philippine%20Leroy-Beaulieu%2C%20Ashley%20Park%3C%2Fp%3E%0A%3Cp%3ERating%3A%202.75%2F5%3C%2Fp%3E%0A
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.”
ODI FIXTURE SCHEDULE
First ODI, October 22
Wankhede Stadium, Mumbai
Second ODI, October 25
Maharashtra Cricket Association Stadium, Pune
Third ODI, October 29
Venue TBC
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Thor: Ragnarok
Dir: Taika Waititi
Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson
Four stars
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
