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Joining the Palestinian Liberation Organisation would be a positive move for Hamas and open the door for the group to become enmeshed in the Palestinian political scene, Fatah spokesman Abdul Fattah Al Dawleh told The National.
Rival Palestinian parties Fatah and Hamas have been engaging in talks in Cairo, Beijing and Moscow over the past year in an attempt to reach unity for the first time in 18 years. The divide occurred when Islamist Hamas banished the secular Fatah, led by the PLO chairman, President Mahmoud Abbas, from Gaza in 2007 after Hamas won parliamentary elections. Now, after more than a year of war in which Israel has destroyed much of Gaza and killed more than 44,800 people, the group stands to gain from joining with Fatah in deciding a future for the Palestinian people.
“It adds to Hamas more than anyone else because it makes it part of the political process and allows it to get political cover,” said Mr Dawleh. The group, which has always staunchly rejected the PLO's legitimacy as the representative of Palestinians abroad, has recently become more flexible in its stance, he said.
“We hope to reach that moment where we see a change of heart soon and there are positive changes in the rhetoric, but we're not hearing it from all commanders.”
The Palestinian Authority has long been viewed as corrupt and distrusted by many Palestinians. The group, a newer organisation which has overshadowed the PLO and is supposed to be responsible for most of the occupied West Bank and the Gaza Strip has recently been under scrutiny for creating a technocratic government.
When asked by The National why it would take the killing of tens of thousands of Palestinians in Gaza for such changes to be made for the first time in more than a decade, Mr Dawleh said the “genocide” has made it clear that “factions cannot lead Palestinians”.
“A faction will only think about its own people and their interests and not the broader future of the Palestinian cause. It will be alone in confronting (Israel) and will not have the public cover that it needs,” he said.
Talks between rivals Hamas and Fatah have been under way in Cairo for the postwar administration of Gaza through the creation of a committee made up of members from across party lines in Palestine. Progress is being made towards Palestinian unity, Mr Dawleh said, although issues from the past 18 years remain.
“Until now, however, we have not reached the moment where we can turn the page over division.”
Mr Dawleh also said that the new government has been formed to “respond to challenges” from the international community and not give “leeway” for accusations of fractionalisation aimed at the Palestinian Authority.
The US is one of several state actors, including the UAE, advocating for the reform of the Palestinian Authority. Mr Dawleh said the step is necessary so long as it does not intervene with “constants” like demands for a Palestinian state.
“Not everything is perfect within state institutions, and faults have to be fixed, youth have to be more involved and we're open to this. There is an ongoing reform plan,” Mr Dawleh said.
“But politically, those who want the reforms to include leadership that makes major concessions on existential issues – we will not allow this.”
The US blocked a bid for Palestine to become a full member of the UN earlier this year and in November vetoed, for the fourth time, a UN Security Council ceasefire resolution for Gaza.
Part of the ceasefire deal being negotiated by Hamas and Israel through mediators includes the release of Palestinian prisoners, including prominent figure Marwan Barghouti who was a public favourite as successor for Mr Abbas in potential elections.
Mr Dawleh acknowledged that he would be fit for such a job.
“He is loved by all, and a personality that is popular and capable to becoming a great leader for the Palestinians,” the official said.
Mr Dawleh, however, said that whether Mr Barghouti is let out after serving more than 20 years in jail depends on how unwavering Hamas is in its demands.
“At the beginning of the war, Hamas was calling for the complete emptying of Israeli prisons from Palestinian detainees. This demand has now been watered down to the release of a list of prisoners – because of how severe and brutal the ongoing genocide is in Gaza and the toll it has taken on the people,” Mr Dawleh said.
“It's important to see him free and among us.”
All about the Sevens
Cape Town Sevens on Saturday and Sunday: Pools A – South Africa, Kenya, France, Russia; B – New Zealand, Australia, Spain, United States; C – England, Scotland, Argentina, Uganda; D – Fiji, Samoa, Canada, Wales
HSBC World Sevens Series standing after first leg in Dubai 1 South Africa; 2 New Zealand; 3 England; 4 Fiji; 5 Australia; 6 Samoa; 7 Kenya; 8 Scotland; 9 France; 10 Spain; 11 Argentina; 12 Canada; 13 Wales; 14 Uganda; 15 United States; 16 Russia
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.”
THE LOWDOWN
Romeo Akbar Walter
Rating: 2/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Robby Grewal
Cast: John Abraham, Mouni Roy, Jackie Shroff and Sikandar Kher
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
Spec%20sheet
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EU Russia
The EU imports 90 per cent of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil.
Results:
CSIL 2-star 145cm One Round with Jump-Off
1. Alice Debany Clero (USA) on Amareusa S 38.83 seconds
2. Anikka Sande (NOR) For Cash 2 39.09
3. Georgia Tame (GBR) Cash Up 39.42
4. Nadia Taryam (UAE) Askaria 3 39.63
5. Miriam Schneider (GER) Fidelius G 47.74
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Mobile phone packages comparison
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Company%20profile
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FIGHT INFO
Men’s 60kg Round 1:
Ahmad Shuja Jamal (AFG) beat Krisada Takhiankliang (THA) - points
Hyan Aljmyah (SYR) beat Akram Alyminee (YEM) - retired Round 1
Ibrahim Bilal (UAE) beat Bhanu Pratap Pandit (IND) - TKO Round 1
Men’s 71kg Round 1:
Seyed Kaveh Soleyman (IRI) beat Abedel Rahman (JOR) - RSC round 3.
Amine Al Moatassime (UAE) walk over Ritiz Puri (NEP)
