Smart cities must embrace the circular economy

GAZA CITY, Palestinian Territories: Israel’s plan for the “conquest” of Gaza has sparked renewed fears, but for many of the Palestinian territory’s residents, the most immediate threat to their lives remains the spectre of famine amid a months-long Israeli blockade.
The plan to expand military operations, approved by Israel’s security cabinet overnight, includes holding territories in the besieged Gaza Strip and moving the population south “for their protection,” an Israeli official said.
But Gaza residents told AFP that they did not expect the new offensive would make any significant changes to the already dire humanitarian situation in the small coastal territory.
“Israel has not stopped the war, the killing, the bombing, the destruction, the siege, and the starvation — every day — so how can they talk about expanding military operations?” Awni Awad, 39, told AFP.

Awad, who lives in a tent in the southern Gaza city of Khan Yunis after being displaced by Israeli evacuation orders, said that his situation was already “catastrophic and tragic.”
“I call on the world to witness the famine that grows and spreads every day,” he said.
The UN’s World Food Programme (WFP) in late April said it had depleted all its foods stocks in Gaza due to Israel’s blockade on all supplies since March 2.

There is no food, no medicine, and no nutritional supplements. The markets are empty of food, and the government clinics and pharmacies have nothing

Umm Hashem Al-Saqqa, Gaza City resident

Aya Al-Skafy, a resident of Gaza City, told AFP her baby died because of malnutrition and medicine shortages last week.
“She was four months old and weighed 2.8 kilograms (6.2 pounds), which is very little. Medicine was not available,” she said.
“Due to severe malnutrition, she suffered from blood acidity, liver and kidney failure, and many other complications. Her hair and nails also fell out due to malnutrition.”
Umm Hashem Al-Saqqa, another Gaza City resident, fears her five-year-old son might face a similar fate, but is powerless to do anything about it.
“Hashem suffers from iron deficiency anaemia. He is constantly pale and lacks balance, and is unable to walk due to malnutrition,” she told AFP.
“There is no food, no medicine, and no nutritional supplements. The markets are empty of food, and the government clinics and pharmacies have nothing.”
New military roadmap
Gaza City resident Mohammed Al-Shawa, 65, said that Israel’s new military roadmap changes little as it already controls most of Gaza.
“The Israeli announcement about expanding military operations in Gaza is just talk for the media, because the entire Gaza Strip is occupied, and there is no safe area in Gaza,” he said.
The UN’s Office for the Coordination of Humanitarian Affairs (OCHA) estimates that 69 percent of Gaza has now been either incorporated into one of Israel’s buffer zones, or is subject to evacuation orders.

The reality is that Israel is killing Palestinians in Gaza by bombing, shooting, or through starvation and denial of medical treatment

Mohammed Al-Shawa, Gaza City resident

That number rises to 100 percent in the southern governorate of Rafah, where over 230,000 people lived before the war but which has now been entirely declared a no-go zone.
“There is no food, no medicine, and the announcement of an aid distribution plan is just to distract the world and mislead global public opinion,” Shawa said, referring to reports of a new Israeli plan for humanitarian aid delivery that has yet to be implemented.
“The reality is that Israel is killing Palestinians in Gaza by bombing, shooting, or through starvation and denial of medical treatment,” he said.
Israel says that its renewed bombardments and the blockade of Gaza are aimed at forcing Hamas to release hostages held in the territory.
Israeli Finance Minister Bezalel Smotrich praised the new plan for Gaza on Monday and evoked a proposal previously floated by US President Donald Trump to displace the territory’s residents elsewhere.
The far-right firebrand said he would push for the plan’s completion, until “Hamas is defeated, Gaza is fully occupied, and Trump’s historical plan is implemented, with Gaza refugees resettled in other countries.”

Adel Alateeq, co-founder and CEO of Awaed, reflected on a career that has witnessed the evolution of Saudi Arabia’s investment landscape.

In a discussion with The Majlis podcast produced in partnership with Arab News, Alateeq described his career path from traditional finance to fintech startup cofounder.

Alateeq’s early roles involved managing public equity funds, an area significantly affected by Saudi Arabia’s market crash in February 2006.

“The market was booming, a lot of Saudis were participating in the Saudi markets,” he said.

“But, then, all of a sudden, came February 2006, a crash happens, and a lot of people lost trust, lost money, a lot of money in the market, and then they started looking for other things, and they started deserting the local markets.”

The financial turmoil, coupled with the 2008 global financial crisis, highlighted the vulnerability of relying solely on public equities and spurred a search for alternative investments.

This led Alateeq to work on the first real estate investment trust in Saudi Arabia with Riyad Capital, a project initiated around 2008 and eventually launched in 2016.

Simultaneously, he championed the development of a venture capital fund with Riyad Capital.

Discussions began in 2012, but it took four years to convince investors, primarily due to skepticism about the potential for startups in Saudi Arabia at the time.

“We started talking about the fund back in 2012. We only launched in 2016,” Alateeq said.

“It took us four years to convince investors, and to fundraise for our first VC fund, because a lot of investors did not believe that there would be startups coming out of Saudi.”

Not long afterwards, Alateeq was tapped by the Public Investment Fund to join Jada Fund of Funds, founded in 2018.

He said the mandate was to “catalyze the private equity and venture capital industry” in Saudi Arabia.

Despite the challenges of building a team remotely during the global pandemic, Jada achieved its five-year key performance indicators within just three years.

Speaking about his move to establish the Awaed digital wealth management platform, Alateeq said: “Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations.”

Alateeq believes that Saudi retail clients are “underserved” by existing players who struggle to reach them effectively.

He challenges the notion that Saudis lack financial literacy, arguing that the key issue is one of “access, not knowledge.”

In line with the unique aspects of the Saudi market, Awaed allows users to screen out non-Sharia compliant investment options.

Reflecting on the Saudi banking and investment sector, Alateeq said that its profitability can lead to complacency and a lack of innovation among many established players.

“The market is hungry,” he said. “There’s so much to do. But because of that, creativity is not at its best.”

Alateeq is optimistic about the country’s reforms under Vision 2030. “I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity,” he said.