Palestinian unity hopes dim as Egyptian crisis grows



The streets of Cairo have been seeing much action of late, as Egyptians rally against the government of President Mohammed Morsi. But even as that country's political landscape teeters, Palestinians have tried - fruitlessly it turns out - to make use of Egypt's reinvigorated role as a broker to reconcile Fatah and Hamas.

Meetings in Cairo last month would have been hailed as a feat were it not for the fact that Palestinians have been witnessing the sad dance carried out for years between the two feuding factions: kiss and make up before exchanging blame.

In one respect, the goodwill gestures of the past few months have paved the way for reconciliation, which would set in motion the chain of events needed to resuscitate the PLO. But as news emerged that Egyptian efforts failed to materialise into an agreement, it became obvious, once again, that too many hurdles must be overcome before the PLO can represent Palestinians in the West Bank, the Gaza Strip and abroad.

The signing of the Oslo Accords in 1993 secured a diminished role for the PLO somewhat by default; its structure merging with, and subsequently overshadowed by, the PA. As the PA was granted limited governance of the geographic areas allotted to its leadership under the agreement, a fiefdom was created, relegating the PLO to the so-called "peace process".

Palestinians abroad felt neglected and excluded from decision-making, thus becoming increasingly dependent on the countries that hosted them. This push and pull between the PA and the PLO is regularly illustrated in the disagreements between PA President Mahmoud Abbas, and Tunis-based PLO and Fatah leader Farouq Kaddoumi, over the former's sidelining of the PLO (and also due to divisions within Fatah itself).

But much like the PA, the PLO suffers from a lack of accountability and legitimacy, patrimony and an ailing veteran elite notoriously averse to reform.

Historically the PLO's decision-making has been controlled by Fatah. For years, numerous agreements have called for overhauling the PLO, lately to reflect Hamas's rising stature in Palestinian society, but to no avail. Under political bureau chief Khaled Meshal's rule, Hamas has managed to outshine Fatah, whose declining status is linked to that of Mr Abbas.

With so much centralised power in Mr Abbas's role, some argue that the PLO would need to be headed by a charismatic leader living outside of the West Bank and the Gaza Strip - unhindered by Israeli restrictions or the power struggle between Fatah and Hamas. Rumours have been circulating recently that Mr Meshal himself may be vying for the PLO's top leadership role.

It would be hard to imagine such a scenario unfolding, not least because Hamas is not part of the PLO. Incorporation into the organisation itself may be hard to fathom, as the PLO has long been a secular institution including many left-leaning factions such as the Popular Front for the Liberation of Palestine (PFLP), Democratic Front for the Liberation of Palestine (DFLP), Palestine Liberation Front (PLF) and others. An Islamist figurehead to rule over these factions may be too hard to stomach for some members.

The disagreement between the factions in Cairo last month centred on the details of how and when Palestine National Council elections would take place (the PNC has held only 22 sessions since the PLO was established in 1964).

According to Nayef Hawatmeh, the DFLP's secretary general, "All 12 factions agreed, except Hamas, on the need to have proportional representation for parliament and presidential elections in addition to the Palestinian National Council." Hamas, however, wants to use proportional voting for only 75 per cent of the seats, with the rest chosen via bloc voting.

Either way, the PLO's renewed role depends largely on reconciliation between Fatah and Hamas, a substantial obstacle considering the chasm between their political views and visions on how to resist Israel's occupation of the West Bank and the Gaza Strip. With this deep political and geographic rift between the two, the PLO will not be in a position to negotiate any future settlement with Israel. As this is the PLO's raison d'être, the question of relevance and legitimacy again rears its head.

Reconciliation will have to answer to Israeli whims as well. For example, the last time a "government of national accord" was formed, Israel boycotted and withheld funds, effectively strangling the governing body until it collapsed under duress. Just before this latest Cairo meeting, Israeli authorities prevented PFLP leader Abdul Rahim Malouh from leaving the territories to join the reconciliation talks.

Emboldened by regional changes that brought about the strengthening of Islamist regimes in Egypt and Tunis, Hamas has been hailed by many Palestinians as employing a model of resistance that bears fruit while recovering national dignity. As anything less than a decisive defeat is considered a victory for the group, the events of last December saw Hamas emerge victorious, with an enhanced status following its demonstrated ability to hurl rockets inside Israeli population centres.

The PA has taken a markedly different route, supporting efforts that eschew violence. The PLO has not formally addressed this issue but will most likely have to in the future. In the meantime, Israel remains opposed to any unity government. In fact, Israeli Prime Minister Benjamin Netanyahu has warned that any such government would effectively spell the end of the two-state solution.

Mr Netanyahu's government has noted in the past that the split within the Palestinian political arena is further evidence that there's no "partner" on the Palestinian side to negotiate with. But as Israel's former foreign minister Avigdor Lieberman stated back in December, "We are ready to move forward, but we do not know who represents the Palestinians - Hamas or Fatah." Neither, it seems, do the Palestinians.

Dalia Hatuqa is a journalist and writer based in the West Bank

On Twitter: @DaliaHatuqa

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

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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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About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group

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SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

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The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 720hp

Torque: 770Nm

Price: Dh1,100,000

On sale: now

Major matches on Manic Monday

Andy Murray (GBR) v Benoit Paire (FRA)

Grigor Dimitrov (BGR) v Roger Federer (SUI)

Rafael Nadal (ESP) v Gilles Muller (LUX)

Adrian Mannarino (FRA) Novak Djokovic (SRB)

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

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Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

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.

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