No playing field, much less a level one, for Palestinians



The peerless Andrés Iniesta spearheading Spain's historic Euro 2012 triumph. Andrea Pirlo's equally wonderful individual performances in that tournament. Or even Didier Drogba's immense display in Chelsea's Champions League victory.

But none come close. The most significant personal achievement by a footballer this summer belongs to a player few have ever heard of.

On July 22, 2009, Palestinian international footballer Mahmoud Sarsak left his home in Gaza for the West Bank to join his new team, Balata Youth, for a league match.

He didn't get far; at a security crossing, he was arrested by Israeli forces. Sarsak, like hundreds of other Palestinians, was accused of "terrorist" activities and jailed under the internationally illegal Unlawful Combatant Law, which allows Israel to detain individuals indefinitely without charge or trial. His jail term was renewed six times, every six months.

Yesterday, to hero's welcome, Sarsak was released, having last month agreed to end a three-month hunger strike in exchange for his freedom. The strike was one of the longest by a Palestinian prisoner; he lost nearly half his normal weight.

Sarsak's ordeal moved a group of footballers, led by Eric Cantona, and other international figures like Ken Loach and Noam Chomsky to demand his release. In a letter to UEFA president Michel Platini, Cantona called for Israel to be subjected to the same scrutiny that Euro 2012 hosts Poland and Ukraine faced recently over racism.

"Why are these same groups silent when Israel is to host the UEFA Under 21s competition in 2013?" the letter said. "Racism, human rights abuses and gross violations of international law are daily occurrences in that country," it went on.

The Palestinian Football Union Association had also, somewhat optimistically, called on UEFA to bar Israel from hosting that event. There is little chance of that happening; UEFA, like its big brother Fifa, barely pressured Israel, only expressing the usual "concern".

As ever, in sports, as in politics, there is one law for Israel and another for everyone else.

When, in February 2009, Israeli tennis player Shahar Peer was initially refused a visa to participate in the Dubai Women's Tennis Championship, there was uproar in the tennis community. The Women's Tennis Association (WTA) even threatened to pull the tournament from Dubai. Politics and sports, after all, should never mix. Ultimately, she was allowed to play.

But the indignation shown by the WTA then is rarely, if ever, extended to Palestinian athletes by sporting associations or, shamefully, the world's media. Palestinians have rarely been afforded a level playing field, or indeed, any playing field at all.

Travel restrictions mean that footballers in Gaza and the West Bank often are often unable to attend training sessions. Many Palestinian footballers have, like Sarsak, been arrested. International matches involving Palestine have been abandoned several times, Israel refusing to grant players exit visas.

When, in 2007, Palestine was unable to field a team against Singapore in a qualifying match for the 2010 World Cup, Fifa and the Asian Football Confederation (AFC) refused to reschedule the match, and awarded Singapore a 3-0 walkover win.

Sadly, such stories are common, and are told in two excellent documentaries: Goal Dreams, by Maya Sanbar and Jeffrey Saunders, about the Palestinians' 2006 World Cup qualifying campaign; and Women in the Stadium by Sawsan Qaoud, highlighting the struggles of the Bethlehem-based Palestinian Women's national football team.

Even these injustices pale in comparison to Sarsak's tragedy. At 25, his body is ravaged, and he is unlikely to regain full health again, never mind play football.

But his victory transcends football. He has shown, yet again, the power of peaceful resistance.

Some triumphs are worth more than cups and medals.

On Twitter: @AliKhaled_

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