Lebanese expatriate Maan Abou Khzam is travelling from Dubai to Beirut today despite concerns about instability in the capital. He says he intends to stick to known safe areas and will be careful. Pawan Singh / The National
Lebanese expatriate Maan Abou Khzam is travelling from Dubai to Beirut today despite concerns about instability in the capital. He says he intends to stick to known safe areas and will be careful. Pawan Singh / The National
Lebanese expatriate Maan Abou Khzam is travelling from Dubai to Beirut today despite concerns about instability in the capital. He says he intends to stick to known safe areas and will be careful. Pawan Singh / The National
Lebanese expatriate Maan Abou Khzam is travelling from Dubai to Beirut today despite concerns about instability in the capital. He says he intends to stick to known safe areas and will be careful. Paw

Lebanese expats in UAE axe trips home after blast


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ABU DHABI // Lebanese expatriates in the UAE are cancelling planned journeys home due to the political unrest in Beirut.

Travel agents are expecting at least 70 per cent of trips to Lebanon to be called off after the south of the capital was rocked by an explosion on Tuesday.

The massive blast struck the Beir Al Abed neighbourhood, a stronghold of Hizbollah, wounding at least 53 people.

"I'm not taking any risks so I decided to cancel my business trip," said Abdullah Samman, a Lebanese resident of Abu Dhabi. "Access to Beirut airport has been blocked in the past so I can't afford to get stuck there should this escalate."

Customers who arranged trips through Al Majid Travel Agency in Dubai began cancelling flights on Tuesday, while Akbar Gulf Travels in Abu Dhabi has had at least 16 bookings to Beirut called off.

"Nobody wants to get into a war zone right now," said Hubert Dhanpal, a business development manager with Akbar Gulf Travel. "And there are definitely going to be more cancellations - at least 70 per cent.

"A lot less people have been travelling to Beirut from the time of political unrest there.

"A lot of people from Beirut work here, so they might postpone. In the past, even after they claimed it was safe to travel after political unrest, people still cancelled. It is a top destination because the weather is cooler but, especially with Ramadan, people want to stay safe."

But some expatriates are determined not to let the problems at home get in the way of their lives.

"I don't react to these things anymore," said Maan Abou Khzam, 27, who lives in Dubai and is travelling to Beirut today.

"It always happens, it's forecasted that explosions might happen during this time so we're used to it."

Mr Khzam said he intended to take precautions but would not be changing his travel plans.

"I'll be more careful and I'll probably just go out to the spots that are relatively safe, like downtown and Hamra," he said.

Jean-Marc Garabedian, 26, works in Dubai and travelled to Beirut yesterday.

"If everyone cancelled their trip to Lebanon, our economy would be greatly affected and this will only strengthen whoever is trying to destabilise our country," he said.

"I expected a blast sooner or later, especially with the situation in neighbouring Syria and the summer is ideal as it tends to affect our economy. But we will continue to live our daily lives."

He will avoid some areas, such as the south and north of the country.

Another Dubai resident, Marc Daoud, 29, plans to travel to Beirut next week. He has three more trips there planned over the summer.

"I was disappointed when I first found out what happened but I'm hoping it won't escalate and end up a repetition of the 2006 war," he said. "We've got used to these one-off events happening now, it's become a kind of new normal."

Mr Daoud does not expect the tension to escalate.

"With everything you hear going on, it's not just Lebanon," he said. "You can take any other countries within the perimeter and it's always the same. I think it's all linked to the same issue and it's reached its peak."

The situation is more worrying for expatriates who have family living close to the scene of the explosion.

"I was a bit worried because my family lives in Dahieh, which is two or three streets away from the bomb," said Ahmad Oneissi, 27, who lives in Dubai.

"You're used to this stuff in Dahieh but not these types of bombings, they're scary and you never know when it happens. These cases would make me worry."

Mr Oneissi said he still planned to fly home next month.

"I believe that if something should happen, it will happen," he said. "The area is less secure than other areas in Lebanon."

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

Indian construction workers stranded in Ajman with unpaid dues
Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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.”

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

COMPANY%20PROFILE
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Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The%20specs
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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5