NAZARETH, ISRAEll // Israel celebrated last weekend its success at the United Nations in forcing the Palestinians to defer demands that the International Criminal Court investigate allegations of war crimes committed by Israel during its winter assault on the Gaza Strip. The about-turn, following vigorous lobbying from Israel and the United States, appears to have buried the damning report of Richard Goldstone into the fighting, which killed almost 1,400 Palestinians, most of them civilians. Israeli diplomats suggested on Sunday that Washington had promised the Palestinian Authority, in return for delaying the Goldstone-mandated probe, that the United States would apply "significant pressure" on Benjamin Netanyahu, the Israeli prime minister, to move ahead on a diplomatic process when the US envoy, George Mitchell, arrives in the region tomorrow. But, according to Israeli and Palestinian analysts, diplomatic arm-twisting may not have been the only factor in the PA's change of heart. Haaretz newspaper reported last week that, behind the scenes, Palestinian officials had faced threats that Israel would retaliate by inflicting enormous damage on the beleaguered Palestinian economy. In particular, Israel warned it would renege on a commitment to allot radio frequencies to allow Wataniya, a mobile phone provider, to begin operations this month in the West Bank. The telecommunications industry is the bedrock of the Palestinian economy, with the current monopoly company, PalTel, accounting for half the worth of the Palestinian stock exchange. The collapse of the Wataniya deal would have cost the Palestinian Authority hundreds of millions of dollars in penalties, blocked massive investment in the local economy and jeopardised about 2,500 jobs. Omar Barghouti, a Jerusalem-based founder of a Palestinian movement for an academic and cultural boycott of Israel, denounced the Palestinian Authority's move: "Trading off Palestinian rights and the fundamental duty to protect the Palestinians under occupation for personal gains is the textbook definition of collaboration and betrayal." The deal to establish Wataniya, a joint venture between a Qatar Telecom-owned company of the same name based in Kuwait, and PIF, a Palestinian investment company, as the second Palestinian mobile phone operator has been at the centre of the international community's plans to revive the West Bank's economy and show that Palestinians are better off under Mr Abbas's rule than Hamas. Tony Blair, the Middle East envoy representing the so-called Quartet of the United States, Russia, the UN and the EU, brokered the agreement last summer, saying Wataniya's investment of more than US$700 million (Dh2.6 billion) over the next 10 years would "provide a much-needed boost to the Palestinian economy". But while Mr Netanyahu has welcomed the deal as part of his plans for an "economic peace", an option he prefers to Palestinian statehood, Israel has been dragging its feet in allocating the necessary frequencies. Wataniya's planned launch this year had to be pushed back and the company has threatened to pull out of the deal if the new October 15 deadline is missed. If it does, the Palestinian Authority will have to repay $140m in licensing fees and could be liable for hundreds of millions more that Wataniya has invested in building 350 communication masts across the West Bank. According to Who Profits?, an Israeli organisation that investigates links between Israel and international companies in exploiting the occupied territories, Israel has a vested interest in limiting the success of the Palestinian mobile phone industry and protecting its control over extensive parts of the West Bank it wants for Jewish settlement. The only existing Palestinian operator, Jawwal, a subsidiary of PalTel, has been blocked from building communications infrastructure in the so-called Area C of the West Bank, comprising 60 per cent of the territory, which is designated under full Israeli control. Instead, four Israeli companies - Cellcom, Orange, Pelephone and Mirs - have built an extensive network of antennas and transmission stations for Jewish settlers in Area C. Mirs, a subsidiary of Motorola Israel, also has an exclusive licence to provide cellular services to the Israeli military. Typically, Palestinians travelling outside the major population areas of the West Bank find a limited or non-existent Jawwal service and therefore have to rely on the Israeli companies. A World Bank report last year found that as much as 45 per cent of the Palestinian mobile phone market may be in the hands of the Israeli companies. In violation of the Oslo Accords, these firms do not pay taxes to the PA for their commercial activity, losing the Palestinian treasury revenues of up to $60m a year. Israeli companies also rake off additional surcharges on connections made by Palestinians using Jawwal, including calls between mobile phones and landlines, between the West Bank and Gaza and many within Area C, and international calls. Dalit Baum, a founder of Who Profits?, said the importance of the telecommunications industry to the Palestinian economy made it a point of leverage over the PA at moments of diplomatic crisis, such as the Goldstone report. foreign.desk@thenational.ae
SHAITTAN
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
Price: Dh7,500,00
On sale: Now
COMPANY%20PROFILE
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SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Mohammed Al Attas
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
Where to buy art books in the UAE
There are a number of speciality art bookshops in the UAE.
In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show.
In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.
In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.
Company%20Profile
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The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
INDIA SQUAD
Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami
Second ODI
England 322-7 (50 ovs)
India 236 (50 ovs)
England win by 86 runs
Next match: Tuesday, July 17, Headingley
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
