Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Karim Sahib/AFP via Getty Images

The Palestinian Authority failed on Wednesday to get the Arab League's foreign ministers to endorse a resolution criticizing the U.S.-brokered normalization deal between Israel and the United Arab Emirates.

Why it matters: This is a very unusual development and a big blow to the Palestinians, who hold the rotating presidency of the Arab League. For decades, Arab League foreign ministers have endorsed every draft resolution the Palestinians have put forward.

  • After the Trump administration's Middle East peace plan was released in January, the Palestinians managed to get the Arab League to condemn the plan — but, this time, many Arab countries refused to condemn the UAE.
  • The Arab League’s Assistant Secretary-General Hossam Zaki said during a press conference after the meeting that the foreign ministers discussed the Palestinian text and entered several amendments, but they couldn’t reach a consensus and decided not to put out any statement on the Israel-UAE agreement.

What they're saying: Palestinian Foreign Minister Riyad al-Maliki condemned the Israel-UAE agreement in his speech and called upon Arab countries to announce that there will be no normalization with Israel before the establishment of a Palestinian state with its capital in East Jerusalem.

  • Emirati Minister of State for Foreign Affairs Anwar Gargash defended his country’s decision in his speech. He said the normalization agreement was not done at the expense of the Palestinians, adding that the deal managed to stop Israel’s annexation plans in the West Bank.
  • Other foreign ministers — mainly the Saudi foreign minister — pledged their support for the Palestinians and their aspirations, but stopped short of criticizing the UAE.

What’s next: The White House plans to invite foreign ministers and ambassadors from many Arab countries to attend the deal's signing ceremony next week in order to show the deal has Arab support.

  • It is still unclear how many Arab countries will send representatives.

Go deeper

Updated Nov 23, 2020 - World

Saudi Arabia denies Netanyahu met secretly with crown prince

Secretary of State Mike Pompeo, Israeli Prime Minister Benjamin Netanyahu, and Bahrain's Foreign Minister Abdullatif at a press conference on Nov. 18. Photo: Menahem Kahana/POOL/AFP via Getty Images

Israeli Prime Minister Benjamin Netanyahu traveled in secret Sunday to the city of Neom on Saudi Arabia's Red Sea coast for a meeting with Crown Prince Mohammed Bin Salman and Secretary of State Mike Pompeo, Israeli sources told me.

The latest: Saudi Foreign Minister Faisal bin Farhan on Monday denied the meeting took place — a signal that the Saudis may be unhappy with the leak or are at least trying to publicly distance themselves from the meeting. Netanyahu, on the other hand, has not denied the story.

Bipartisan group of senators seeks coronavirus stimulus deal

Sens. Joe Manchin (D-W.V.) and Susan Collins (R-Maine). Photo: Drew Angerer/Getty Images

At least eight Republican and Democratic senators have formed an informal working group aimed at securing new coronavirus spending during the lame-duck session, a move favored by President-elect Biden, two sources familiar with the group tell Axios.

Why it matters: It may be the most significant bipartisan step toward COVID relief in months.

FCC chairman to depart in January

FCC Chairman Ajit Pai. Photo: Alex Wong/Getty Images

Ajit Pai will leave his post as chairman of the Federal Communications Commission on Jan. 20, the agency said today.

Why it matters: Pai's Inauguration Day departure is in keeping with agency tradition, and could set up the Biden administration with a 2-1 Democratic majority at the FCC if the Senate fails to confirm another Trump nominee during the lame-duck period.