With the fifth anniversary of Beirut’s 2020 port explosion on Monday, one might expect to see memorials and other acts of remembrance across the city, but many in Lebanon are simply trying to move on.
Between the continuing economic crisis, regional conflicts and political inaction, the outrage over the Beirut blast and public demands for justice have grown quieter and quieter. The official investigation remains unfinished, and many remain sceptical that those responsible will ever be held to account.
Complicating matters further is the fact that Lebanon lacks a reliable public record. Archives are poorly maintained, if they are kept at all.
Illuminating and solidifying forgotten heritage has long been a great passion for artist, author and amateur historian Eddy Choueiry, who has brought together his academic background in philosophy and psychology with a quietly patriotic love for the legacy of Lebanon.
In the wake of the August 4 blast, however, his creative practice took on a new meaning, unpicking a disaster years in the making. Half a decade later, he plans to present the findings of his research, first in a public lecture hosted by Assabil Public Library in Beirut, and later in a soon-to-release book.
“After the explosion, my target was to make a book to represent what we call in French a travail de deuil, or work of mourning,” Choueiry tells The National. “It's a mourning process and, as is usual with this process, I wanted to do it through art, culture and heritage, so I started the book one week after the blast.”
The history of the Port of Beirut stretches back to the Ottoman Empire, which, in 1887, put control of the port into the hands of the French company Compagnie du Port, des quais et des Entrepots de Beyrouth. The Port of Beirut quickly grew to become a key shipping centre for the region, continuing to expand during the French Mandate thanks to greater funding and trade from France, even after Lebanon became an independent nation in 1943. In 1960, the company was renamed the Gestion et Exploitation du Port de Beyrouth.
Unfortunately, the Port of Beirut also earned a reputation for corruption and smuggling. Abandoned crew and cargo were also common occurrences, as was the case with the MV Rhosus, the Moldovan ship which, in 2013, delivered 2,750 tonnes of ammonium nitrate that caused the 2020 blast.
Many of the records of the port were destroyed by the explosion, but Choueiry managed to uncover a trove of physical documents kept in the Gestion et Exploitation du Port de Beyrouth offices. It took four years just to go through all the files, which include letters, photographs, maps, contracts and even newspaper articles.
“The old archives of the harbour had been saved – although still damaged – because they were in a closet,” says Choueiry. “I discovered a lot of documents, so I limited my research to the Ottoman period, the French Mandate period, and then – after our independence – the construction of the silos.”
Unbeknownst to most in Lebanon, the 2020 explosion at the port of Beirut, although the most devastating, was not the first such blast. In fact, three other explosions had taken place, in 1919, 1928 and 1934. In the case of the first two events, only one fatality was reported from each incident. In the case of the third, 20 people were killed and 14 were injured.
The 1934 case stands out in particular in eerie similarity to the events of 2020. Back then, Warehouse S was used to store hazardous and explosive materials – including gunpowder and TNT – under restricted access but, due to limited space, this holding area had also started to be used for other goods, including flammable textiles and foodstuffs. Questions were also raised regarding the collapse of Warehouse S’s roof and the failure of the sprinkler system to prevent fire from spreading through the building following the explosion. Ultimately, no responsible party was ever identified, and the damaged site was built over.
“The authorities launched an inquiry into the cause of that explosion,” Choueiry explains, “but it led nowhere. Even at the time, it was predicted [in the local press] that it would lead nowhere, as with the two previous port explosions that happened in 1919 and 1928; that the third – 1934 – was going to be the same, without consequences.”
Despite the recurring historical pattern of worsening accidents caused by the improper storage and handling of hazardous materials at the port, no lessons were seemingly learnt. When the new grain silos were completed and put into operation in 1970, the port authorities designated Warehouse 12 – the eventual epicentre of the 2020 explosion – as the holding area for such materials; a building almost directly co-located with the silos.
“This is crazy,” says Choueiry. “The silos stocked grain and wheat for the whole of Lebanon. Who could imagine putting this warehouse in front of the silos? There is no excuse in 2020 that nobody knew about the importance of nitrate, and how it's so dangerous. They are not doing their jobs as they should. It's negligence.”
Today, the remains of the damaged silos stand over the Port of Beirut as a scarred reminder of the latest tragedy to befall the harbour, but ensuring that it will be the last requires that Lebanon change its relationship with its complex and often painful past. Through this “mourning work”, Choueiry and those like him are attempting to put Lebanon’s ephemeral history into concrete forms that will persist and provide clarity for future generations, in the hope that this cycle of abuse, impunity and failure can finally be broken for good.
“We shouldn't forget this injustice that happened to Beirut and to Lebanon,” says Choueiry. “We are crossing our fingers with the 2020 explosion that – if we are fortunate – we will have answers. God knows how long it's going to take, to tell the truth about what really happened.”
“If you put yourself face-to-face with catastrophe, it's going to be an eternal trauma,” he continues. “But, if you try to make enough of it into something related to your identity, to your culture, now you are making something fruitful.”
Company%20Profile
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The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
<html><head><meta http-equiv="Content-Type" content="text/html" charset="UTF-8" /></head><body><!--PSTYLE=* Labels%3aFH Label 18 Sport--><p>Beach soccer</p><!--PSTYLE=BY Byline--><p>Amith Passela</p><p /></body></html>
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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.”
57%20Seconds
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%20Ramez%20Gab%20Min%20El%20Akher
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Brief scores
Day 1
Toss England, chose to bat
England, 1st innings 357-5 (87 overs): Root 184 not out, Moeen 61 not out, Stokes 56; Philander 3-46
The%20Specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.6-litre%20twin%20turbocharged%20V6%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20472hp%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20603Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh290%2C000%20(%2478%2C9500)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20now%3C%2Fp%3E%0A
Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5
Company profile
Company name: Nestrom
Started: 2017
Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi
Based: Jordan
Sector: Technology
Initial investment: Close to $100,000
Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt
Date started: January 2017, app launched November 2017
Based: Dubai, UAE
Sector: Private/Retail/Leisure
Number of Employees: 18 employees, including full-time and flexible workers
Funding stage and size: Seed round completed Q4 2019 - $1m raised
Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels
Race 3
Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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