Lebanese men drive bikes past burning tyres set up by protesters to block a road in the capital Beirut on November 29. AFP
Lebanese men drive bikes past burning tyres set up by protesters to block a road in the capital Beirut on November 29. AFP
Lebanese men drive bikes past burning tyres set up by protesters to block a road in the capital Beirut on November 29. AFP
Lebanese men drive bikes past burning tyres set up by protesters to block a road in the capital Beirut on November 29. AFP

More than 6 in 10 Lebanese want to leave Lebanon permanently as crises continue


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Sixty-three per cent of Lebanese people want to leave the country permanently, a survey has found, as the nation's economy continues to spiral.

The latest results come two years after the country entered a financial meltdown. Prices of basic goods have skyrocketed while the value of local currency has plummeted by more than 90 per cent since 2019.

The Lebanese pound dropped against the dollar last week to about 25,000, from a peg in 2019 of 1,500.

The Gallup survey of 1,000 Lebanese adults conducted in August and released on Thursday showed Canada and Germany are the most desirable destinations for those wishing to leave — 28 per cent would like to go to Canada while 19 per cent would like to move to Germany.

The figures are a huge increase from the between 19-32 per cent who stated a desire to emigrate over the 12 years since Gallup began asking the question.

An explosion that killed more than 200 people last year, daily power cuts and a health system in meltdown caused by Covid-19 has sparked a brain drain as people look for better prospects abroad.

There has been little progress since Prime Minister Najib Mikati's government was formed in September after more than a year of political deadlock that compounded the crisis.

Mr Mikati's government has been deadlocked since a row over the investigation into the Beirut port blast in August 2020 flared during a Cabinet meeting on October 12. The Cabinet has not met since.

  • A helicopter dumps water on fires described by civil defence workers as '90% under control' following a round-the-clock battle to extinguish it before it could reach houses. All photos: Elizabeth Fitt
    A helicopter dumps water on fires described by civil defence workers as '90% under control' following a round-the-clock battle to extinguish it before it could reach houses. All photos: Elizabeth Fitt
  • A helicopter picks up water to douse areas fire trucks can't reach at the Deir Al Kalaa monastery, near the town of Beit Mery.
    A helicopter picks up water to douse areas fire trucks can't reach at the Deir Al Kalaa monastery, near the town of Beit Mery.
  • A tired firefighter rests on a gurney at the Deir Al Kalaa monastery.
    A tired firefighter rests on a gurney at the Deir Al Kalaa monastery.
  • Blackened pine trees cover land scorched by fires that broke out close to the town of Beit Mery.
    Blackened pine trees cover land scorched by fires that broke out close to the town of Beit Mery.
  • Fire and water trucks wait to attend to the blaze.
    Fire and water trucks wait to attend to the blaze.
  • Christian relgious icons next to trees blackened by fires.
    Christian relgious icons next to trees blackened by fires.
  • Exhausted civil defence volunteers take a break to eat after battling to control the fires for 24 hours.
    Exhausted civil defence volunteers take a break to eat after battling to control the fires for 24 hours.
  • A water helicopter flies over trees scorched by fire.
    A water helicopter flies over trees scorched by fire.
  • A helicopter picks up water to douse the fire.
    A helicopter picks up water to douse the fire.
  • Scorched trees after the blaze.
    Scorched trees after the blaze.
  • A stretch of forest near the town of Beit Mery smoulder.
    A stretch of forest near the town of Beit Mery smoulder.
  • Blackened ground and scorched trees.
    Blackened ground and scorched trees.
  • Coach Marco Villiegas plays tennis at the Overhead Tennis Academy against a charred backdrop.
    Coach Marco Villiegas plays tennis at the Overhead Tennis Academy against a charred backdrop.
  • Exhausted firefighters take a well-earned rest.
    Exhausted firefighters take a well-earned rest.

Subsidies have been cut back on almost all goods including fuel and medicine, pushing up prices as basic services such as health care crumble.

The survey found 85 per cent of people said they are finding it “difficult” or “very difficult” to survive on their income, including 62 per cent who say it is “very difficult”. The proportion of those finding it very difficult has almost doubled, compared to 32 per cent in 2019.

The UN's poverty envoy last month criticised Lebanon's politicians for failing the people. More than 80 per cent of the population is estimated to be living below the poverty line.

“I saw scenes in Lebanon that I never imagined I would see in a middle-income country,” Olivier De Schutter, the UN's special rapporteur on extreme poverty, said.

“The government's inaction in the face of this unprecedented crisis has inflicted great misery on the population.”

The country's issues are also creating a mental health crisis as more than half of people surveyed say they are experiencing great sadness (56 per cent).

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

Drivers’ championship standings after Singapore:

1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

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.”

Medicus AI

Started: 2016

Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh

Based: Vienna, Austria; started in Dubai

Sector: Health Tech

Staff: 119

Funding: €7.7 million (Dh31m)

 

Golden Shoe top five (as of March 1):

Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points

Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding

Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.

Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.

Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.

For more details, email openminds@cultures.ae or visit www.cultures.ae

 

Dolittle

Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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

RESULTS

5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).

5.30pm: Maiden (PA) Dh80,000 1,400m​​​​​​​
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.

6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m​​​​​​​
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.

6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m​​​​​​​
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.

7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.

7.30pm: Maiden (TB) Dh80,000 1,600m​​​​​​​
Winner: Dubai Canal, Harry Bentley, Satish Seemar.

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

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.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Biog:

Age: 34

Favourite superhero: Batman

Favourite sport: anything extreme

Favourite person: Muhammad Ali 

The details

Heard It in a Past Life

Maggie Rogers

(Capital Records)

3/5

Brief scores:

Toss: Nepal, chose to field

UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23

Nepal 132-7: Jora 53 not out; Zahoor 2-17

Result: UAE won by 21 runs

Series: UAE lead 1-0

Five films to watch

Castle in the Sky (1986)

Grave of the Fireflies (1988)

Only Yesterday (1991)

Pom Poki (1994)

The Tale of Princess Kaguya (2013)

The stats

Ship name: MSC Bellissima

Ship class: Meraviglia Class

Delivery date: February 27, 2019

Gross tonnage: 171,598 GT

Passenger capacity: 5,686

Crew members: 1,536

Number of cabins: 2,217

Length: 315.3 metres

Maximum speed: 22.7 knots (42kph)

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Updated: December 02, 2021, 6:31 PM