Live updates: Follow the latest on Israel-Gaza
At least 52 Palestinians were killed in Israeli attacks on the Gaza Strip on Thursday, including 11 in an air strike on a tent encampment in southern Gaza, medical sources said.
Eleven people died in the strike on a camp sheltering displaced families in Al Mawasi, designated as a humanitarian area by Israel, in western Khan Younis, Palestinian news agency Wafa reported. Fifteen people were wounded in the attack. The dead included the director general of Gaza's police department, Mahmoud Salah, and his aide Hussam Shahwan, Hamas-run Al Aqsa TV reported.
The Israeli military confirmed it carried out the attack, saying Mr Shahwan was the “head of Hamas Internal Security Forces in the southern Gaza Strip”, responsible for developing intelligence assessments in attacks on Israel's troops in Gaza.
The Hamas-run security administration included tens of thousands of police who maintained public order before the outbreak of the war. The police have largely vanished from streets in many areas after being targeted by Israel, contributing to a breakdown of law and order that has hindered the delivery of desperately needed humanitarian aid.
Philippe Lazzarini, head of the UN agency for Palestinian refugees, UNRWA, said the strike on Al Mawasi showed there was no safe place in Gaza. “Another remainder that there is no humanitarian zone let alone a 'safe zone',” Mr Lazzarini posted on X.
Eight people were also killed and others injured in strikes at two road junctions, Al Ayoun and Al Lababidi, in western Gaza city. Four more were killed in an attack on a group of people near Askalan mosque at Al Shati camp in the west of Gaza. A strike also hit a building in central Khan Younis, killing six people and injuring others.
In a separate strike on Al Shati camp, four more Palestinians were killed and others injured, while a Palestinian was also killed in a strike on eastern Gaza city. Another Israeli attack, on a group of people in a town in eastern Khan Younis, killed two, according to Wafa.
Strikes on Deir Al Balah killed at least four people, with more deaths reported in attacks on Al Maghazi camp, also in central Gaza. In the north of the enclave, another 12 people were killed in attacks, including 10 in Jabalia Al Balad.
More than 45,500 Palestinians have died in Gaza since war broke out in October 2023, according to health officials in the enclave. Most of Gaza's 2.3 million people have been displaced and much of the tiny coastal strip is in ruins. The war was sparked by the Hamas-led attack on Israel on October 7, 2023 in which 1,200 people were killed and another 251 taken hostage to Gaza, according to Israeli tallies.
Israeli Defence Minister Israel Katz threatened on Wednesday to intensify attacks on Gaza if Hamas continued to fire rockets into Israel.
“I want to send a clear message from here to the heads of the terrorists in Gaza: if Hamas does not soon allow the release of the Israeli hostages from Gaza … and continues firing at Israeli communities, it will face blows of an intensity not seen in Gaza for a long time,” Mr Katz said after visiting the Israeli town of Netivot, which was recently targeted by rocket fire.
The renewed fire from Gaza in recent days has caused little damage in Israel and the rockets have been launched in far fewer numbers than in the early stages of the war, but they are a political blow for the Israeli government after nearly 15 months of fighting.
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
The five stages of early child’s play
From Dubai-based clinical psychologist Daniella Salazar:
1. Solitary Play: This is where Infants and toddlers start to play on their own without seeming to notice the people around them. This is the beginning of play.
2. Onlooker play: This occurs where the toddler enjoys watching other people play. There doesn’t necessarily need to be any effort to begin play. They are learning how to imitate behaviours from others. This type of play may also appear in children who are more shy and introverted.
3. Parallel Play: This generally starts when children begin playing side-by-side without any interaction. Even though they aren’t physically interacting they are paying attention to each other. This is the beginning of the desire to be with other children.
4. Associative Play: At around age four or five, children become more interested in each other than in toys and begin to interact more. In this stage children start asking questions and talking about the different activities they are engaging in. They realise they have similar goals in play such as building a tower or playing with cars.
5. Social Play: In this stage children are starting to socialise more. They begin to share ideas and follow certain rules in a game. They slowly learn the definition of teamwork. They get to engage in basic social skills and interests begin to lead social interactions.
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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.”
21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
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Business Insights
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Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
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The biog
Occupation: Key marker and auto electrician
Hometown: Ghazala, Syria
Date of arrival in Abu Dhabi: May 15, 1978
Family: 11 siblings, a wife, three sons and one daughter
Favourite place in UAE: Abu Dhabi
Favourite hobby: I like to do a mix of things, like listening to poetry for example.
Favourite Syrian artist: Sabah Fakhri, a tenor from Aleppo
Favourite food: fresh fish
The specs: 2018 Mercedes-Benz S 450
Price, base / as tested Dh525,000 / Dh559,000
Engine: 3.0L V6 biturbo
Transmission: Nine-speed automatic
Power: 369hp at 5,500rpm
Torque: 500Nm at 1,800rpm
Fuel economy, combined: 8.0L / 100km
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