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The US vetoed a UN Security Council resolution on Tuesday calling for an immediate ceasefire in Gaza.
The Algeria-drafted resolution received 13 votes in favour, an abstention from Britain and the US veto.
The resolution demanded “an immediate humanitarian ceasefire that must be respected by all parties” and the release of all hostages held in Gaza.
It also opposed the “forced displacement of the Palestinian civilian population”.
Similar to previous drafts rejected by the US, the text did not condemn Hamas's October 7 assault.
“Proceeding with a vote today was wishful and irresponsible. We cannot support a resolution that would put sensitive negotiations in jeopardy,” said Washington's UN envoy Linda Thomas-Greenfield ahead of the vote.
The US diplomat said Algeria’s resolution would negatively affect negotiations currently held in Cairo.
“Demanding an immediate, unconditional ceasefire without an agreement requiring Hamas to release the hostages will not bring about peace,” she said, adding that it could extend the fighting.
Ahead of the vote, Algeria’s UN envoy Amar Bendjama urged the international community to act swiftly, as the value of a ceasefire diminishes with each passing moment.
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“We are rapidly approaching a critical juncture where the call to hold the machinery of violence will lose its significance today,” he said.
“Every Palestinian is a target for death, extermination and genocide.”
Following the vote, the UAE criticised the veto decision, saying: "The UAE is deeply disappointed with the outcome of today's vote in the UN Security Council on the humanitarian ceasefire draft resolution, which was supported by 13 of the 15 members.
"After more than four months of carnage and no end in sight, this war must end."
The vote comes as Israel prepares to begin an expected ground invasion of Rafah, where about 1.4 million Palestinians are sheltering.
Samuel Zbogar, Slovenia’s representative at the UN who voted in favour of the resolution, said: “A possible Israeli ground offensive in Rafah would have unimaginable humanitarian consequences.
“It would push us on a path of no return. It is our duty to react before we wake up in a nightmare. And that’s why we are convinced it is high time for the council to pull the brake.”
The Palestinian envoy to the UN Riyad Mansour called the US veto "absolutely reckless and dangerous".
"The message given today to Israel with this veto is that it can continue to get away with murder," Mr Mansour said.
But Israel's ambassador to the UN was firm that a ceasefire would do nothing to solve the issues that caused the conflict.
“Will ceasefire bring home the hostages?” Gilad Erdan asked council members.
“Will a ceasefire eliminate Hamas? Will a ceasefire disarm Hezbollah, the Houthis and all the other Iranian terrorist proxies?
“We're still waiting for [Palestinian] President [Mahmoud] Abbas to condemn the October 7 massacre. What exactly will this silver bullet ceasefire achieve?”
Alternative resolution
The US has proposed its own draft resolution that calls for a temporary ceasefire “as soon as practicable” and warns Israel against a ground assault on Gaza’s southern city of Rafah.
The draft, seen by The National, underscores US “support for a temporary ceasefire in Gaza as soon as practical, based on the formula of all hostages being released” and calls for lifting all barriers on the provision of humanitarian assistance at scale.
The US text states that a major ground offensive in Rafah would not only harm civilians but also displace them into neighbouring countries, and says that “a major ground offensive should not proceed under current circumstances”.
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It also rejects any actions to reduce the territory of Gaza on a “temporary or permanent basis”, including through the establishment of so-called buffer zones.
The document does not name Israel, but in a clear reference, it “condemns calls by government ministers for the resettlement of Gaza and rejects any attempt at demographic or territorial change in Gaza that would violate international law”.
As an alternative to the Algerian-proposed resolution demanding an immediate ceasefire, the US draft marks the first time Washington has explicitly supported a ceasefire in the Gaza conflict.
Guyana’s ambassador to the UN, Carolyn Rodrigues-Birkett, told The National that US diplomats have “indicated that they will make the formal presentation of their draft” after council members are finished considering the Algerian draft.
Richard Gowan, UN director for the International Crisis Group, told The National that, to date, the US has only been focused on humanitarian issues in Gaza.
“Now it is trailing a text involving significant comments on the military situation in Gaza,” he said.
“[US President Joe] Biden won't desert Israel at the UN, but he may be using the UN as a platform to signal his displeasure with the state of Israel's campaign.”
Mr Gowan said the US draft may be a message to Israel to “rein in” its campaign in Gaza and stop events in the West Bank from spiralling.
“The mere fact that the Biden administration is floating a text with quite specific implicit warnings to Israel, especially over Rafah, is telling.”
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Company Profile
Company name: Big Farm Brothers
Started: September 2020
Founders: Vishal Mahajan and Navneet Kaur
Based: Dubai Investment Park 1
Industry: food and agriculture
Initial investment: $205,000
Current staff: eight to 10
Future plan: to expand to other GCC markets
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Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
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OPINIONS ON PALESTINE & ISRAEL
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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Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
Friday's schedule in Madrid
Men's quarter-finals
Novak Djokivic (1) v Marin Cilic (9) from 2pm UAE time
Roger Federer (4) v Dominic Thiem (5) from 7pm
Stefanos Tsitsipas (8) v Alexander Zverev (3) from 9.30pm
Stan Wawrinka v Rafael Nadal (2) from 11.30pm
Women's semi-finals
Belinda Bencic v Simona Halep (3) from 4.30pm
Sloane Stephens (8) v Kiki Bertens (7) from 10pm