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A leading international barrister based in the UK is to represent Israel at the International Court of Justice next week when judges hear the petition by South Africa that alleges “genocidal acts against the people in Gaza”.
Prof Malcolm Shaw is to make the case for Israel as it seeks dismissal of a filing that “Israel has engaged in, is engaging in and risks further engaging in genocidal acts against the Palestinian people in Gaza”.
The call for intervention from the ICJ alleges Israel has broken its obligations under the Genocide Convention.
South Africa, among other urgent measures, is asking the court to order that “Israel shall immediately suspend its military operations in and against Gaza” and that both countries “take all reasonable measures within their power to prevent genocide”.
The Peace Palace in The Hague is familiar ground for Prof Shaw who has previous represented at least four nations at the ICJ, including Ukraine in a commercial arbitration case and Cameroon on boundary issues.
Prof Shaw, 76, represented the UAE in at least one case, an aviation dispute with Qatar.
He is a member of Essex Court Chambers, a leading set of barristers' chambers in central London specialising in, among other fields, public international law.
Prof Shaw has developed an international reputation for advising on territorial disputes, maritime law, state succession, state immunity, the recognition of foreign governments and states, and human rights.
He has also given advice to a number of foreign governments, including the UK, international organisations, multinational corporations and private clients.
He has appeared at the European Court of Human Rights and the European Court of Justice.
Prof Shaw has also represented or advised the Canadian province of Quebec on its status, as well as Ireland on neutrality and armed conflicts, and Cyprus on state succession.
He graduated from the University of Liverpool and the Hebrew University of Jerusalem and founded the Human Rights Centre at the University of Essex in 1983.
Israel signed the Genocide Convention and is subject to the jurisdiction of the ICJ and its rulings.
But ICJ rulings are not always adhered to, notably a 2022 order for Russia to halt its invasion of Ukraine.
South Africa brought the case against Israel to the ICJ. Its ICJ application referred to alleged breaches by Israel of its obligations under the Genocide Convention.
“Israel has engaged in, is engaging in and risks further engaging in genocidal acts against the Palestinian people in Gaza,” the application said.
South Africa also alleged Israel was acting “with the requisite specific intent … to destroy Palestinians in Gaza as part of the broader Palestinian national, racial and ethnic group”.
The first hearing date is Thursday, January 11.
UAE currency: the story behind the money in your pockets
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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White hydrogen: Naturally occurring hydrogen
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Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
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