Lebanon’s report card for 2016 might read: “Bright and resilient but often disruptive. Must do better.”
And yet it was a year that ended on a high, of sorts. After a two-and-half-year hiatus, the Lebanese had a new president and a government. And despite the usual suspects once again being handed ministerial portfolios, including a man to run Women’s Affairs and a pensioner tasked to oversee the Ministry of Youth – just to highlight a few of the puzzling appointments – most Lebanese were just happy that country was again open for business.
Back in January things were looking decidedly dicey. There appeared to be no let up in the number of Syrians fleeing over the border, taking the unofficial number of refugees to nearly 2 million, equivalent to 50 per cent of the population, or to put it another way it’s as if 36 million Europeans moved to the United Kingdom over the same period. On this point, at least, we won the world’s admiration.
We also had a garbage crisis of apocalyptic proportions, which began in July of the previous year and, in January, showed no sign of ending. Hundreds of thousands of tonnes of trash quite literally had nowhere to go and the Ministry of Health reported an alarming spike in respiratory illness.
Both were bad for business. The burden of giving refuge to 2 million extra souls placed enormous strain on an already weakened infrastructure and there soon may not be enough water, electricity, road space and broadband to go around; hardly a mouthwatering environment for foreign investment, which, according to the United Nations Conference on Trade and Development (Unctad), had already fallen by 19.4 per cent to US$2.34 billion in 2015 from the year earlier, and down from $4.38bn in 2009.
There was also little meaningful progress made on Lebanon’s ambitions to tap into potentially significant oil and gas reserves after the likes of Total, Shell, Chevron and ExxonMobil signalled that they were fed up with having to deal with corrupt Lebanese officials in what should have been a relatively transparent process. Let’s see what the new government can do, but I’m not holding my breath.
In February, there was bad news for tourism and what little inward investment we could muster when Lebanon, at a meeting of the Arab League, refused to condemn the January 2 sacking of the Saudi Embassy in Tehran. The kingdom reacted immediately, threatening to withdraw its deposits in Lebanese banks and withholding $4bn earmarked for the Lebanese army and security services. More worrying was a travel advisory warning Saudi citizens about the security risks of travelling to Lebanon. For those trying to go the other way, the much-maligned Lebanese passport made it into Henley & Partners Visa Restrictions Index of the Top 10 worst travel documents to own.
In May, Beirut held municipal elections in which voters had a chance to elect people who might actually serve the capital. The Beirut Madinati – Beirut My City – bloc pledged to work towards turning Beirut into a greener, happier and more prosperous city, developing infrastructure, tourism and the financial sector, and reforming housing development. So what happened? The people voted for the same bunch of people responsible for creating and failing to solve, the garbage crisis. Plus ça change indeed.
In other news, the Lebanese Central Bank suspended three senior Hizbollah members’ accounts. The party declared that the Central Bank had “crossed a red line” while the bank said it was merely abiding by the Hizbollah International Financing Prevention Act, which targets banks that deal with Hizbollah or individuals, businesses or institutions linked to the party. One Hizbollah MP called the law “a violation of Lebanon’s sovereignty”, forgetting perhaps that sovereignty was a concept with which his party has played fast and loose for the past 10 years.
Meanwhile, at a conference in Beirut over the summer, the industry minister, Hussein Hajj Hassan, made the extraordinary admission that the political class doesn’t really bother itself with economic priorities. “[We] never had one serious discussion in the cabinet on activating the economy and helping the struggling industry in the country,” he told the audience.
At one point over the summer were told that Europeans topped the list of foreign tourists. The French apparently loved us the most, followed by the Germans and the British. The Americans and Canadians, came second and the Brazilians third. Arabs came in fourth with the Iraqis cited as the most frequent visitors, followed by Jordanians and Egyptians. The number of Saudi Arabian nationals visiting Lebanon in June dropped by a whopping 47.7 per cent.
The November 8 US presidential elections coincided with the airing of an ad on CNN sponsored by the Lebanese developer Demco Properties. “Lebanon is calling”, was a 40-second clip aimed to woo back expatriate talent, presumably in light of the news of General Michel Aoun’s presidential nomination.
It made no difference to HSBC, whose local operation was sold off to BLOM bank for about $100 million. HSBC, then the British Bank of the Middle East, opened in Beirut in 1946, ending a 70-year association with the country.
Happy New Year to all.
Michael Karam is a freelance writer who lives between Beirut and Brighton.
business@thenational.ae
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The specs
Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September
SHAITTAN
Director: Vikas Bahl
Starring: Ajay Devgn, R. Madhavan, Jyothika, Janaki Bodiwala
Rating: 3/5
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
MATCH INFO
Manchester City 0
Wolves 2 (Traore 80', 90+4')
More from Neighbourhood Watch:
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Moving Out 2
Developer: SMG Studio
Publisher: Team17
Consoles: Nintendo Switch, PlayStation 4&5, PC and Xbox One
Rating: 4/5
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
The five pillars of Islam
Five calorie-packed Ramadan drinks
Rooh Afza
100ml contains 414 calories
Tang orange drink
100ml serving contains 300 calories
Carob beverage mix
100ml serving contains about 300 calories
Qamar Al Din apricot drink
100ml saving contains 61 calories
Vimto fruit squash
100ml serving contains 30 calories
Tenet
Director: Christopher Nolan
Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh
Rating: 5/5
IPL 2018 FINAL
Sunrisers Hyderabad 178-6 (20 ovs)
Chennai Super Kings 181-2 (18.3 ovs)
Chennai win by eight wickets
Specs
Power train: 4.0-litre twin-turbo V8 and synchronous electric motor
Max power: 800hp
Max torque: 950Nm
Transmission: Eight-speed auto
Battery: 25.7kWh lithium-ion
0-100km/h: 3.4sec
0-200km/h: 11.4sec
Top speed: 312km/h
Max electric-only range: 60km (claimed)
On sale: Q3
Price: From Dh1.2m (estimate)
Hotel Data Cloud profile
Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)
LIKELY TEAMS
South Africa
Faf du Plessis (captain), Dean Elgar, Aiden Markram, Hashim Amla, AB de Villiers, Quinton de Kock (wkt), Vernon Philander, Keshav Maharaj, Kagiso Rabada, Morne Morkel, Lungi Ngidi.
India (from)
Virat Kohli (captain), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Rohit Sharma, Ajinkya Rahane, Hardik Pandya, Dinesh Karthik (wkt), Ravichandran Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Mohammad Shami, Jasprit Bumrah.
The bio:
Favourite film:
Declan: It was The Commitments but now it’s Bohemian Rhapsody.
Heidi: The Long Kiss Goodnight.
Favourite holiday destination:
Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.
Heidi: Australia but my dream destination would be to go to Cuba.
Favourite pastime:
Declan: I love brunching and socializing. Just basically having the craic.
Heidi: Paddleboarding and swimming.
Personal motto:
Declan: Take chances.
Heidi: Live, love, laugh and have no regrets.
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
Match info
Karnataka Tuskers 110-3
J Charles 35, M Pretorius 1-19, Z Khan 0-16
Deccan Gladiators 111-5 in 8.3 overs
K Pollard 45*, S Zadran 2-18
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
Dubai World Cup Carnival card:
6.30pm: Handicap (Turf) | US$175,000 | 2,410 metres
7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 | 1,400m
7.40pm: Handicap (T) | $145,000 | 1,000m
8.15pm: Dubawi Stakes Group 3 (D) | $200,000 | 1,200m
8.50pm: Singspiel Stakes Group 3 (T) | $200,000 | 1,800m
9.25pm: Handicap (T) | $175,000 | 1,400m
Scoreline:
Cardiff City 0
Liverpool 2
Wijnaldum 57', Milner 81' (pen)
Results:
Men’s wheelchair 200m T34: 1. Walid Ktila (TUN) 27.14; 2. Mohammed Al Hammadi (UAE) 27.81; 3. Rheed McCracken (AUS) 27.81.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
57 Seconds
Director: Rusty Cundieff
Stars: Josh Hutcherson, Morgan Freeman, Greg Germann, Lovie Simone
Rating: 2/5
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners