When Lebanese billionaire Najib Mikati was appointed prime minister in 2011, he was forced to resign after a falling out with Hezbollah.
But on Thursday, he secured his fourth term at the helm of the country, gaining the support of 54 of Parliament's 128 members — including those from Hezbollah and its Shiite ally Amal.
Mr Mikati, who returned to the leadership in July 2021 amid hopes that he would help lead Lebanon out of its worst crisis in decades, will continue in a caretaker role until a government is formed, a process that typically goes on for months as political factions divvy up roles in the Cabinet and beyond.
Analysts and politicians expect this Cabinet formation process to be further complicated by a looming struggle over who will replace President Michel Aoun, the Hezbollah-aligned Maronite Christian head of state, when his term ends on October 31.
“The Mikati of 2021 is different from the Mikati of 2011,” Fadi Ahmar, a lecturer in Middle East studies, told The National last year.
He pointed to Mr Mikati’s distance from his former allies the Syrian regime of Bashar Al Assad and Hezbollah. The Iran-backed militia sent its forces to fight alongside Mr Al Assad after the 2011 uprising, without the Lebanese state's permission.
“He is aware that close ties with the Syrian regime and Hezbollah will impede the work of any future government,” Dr Ahmar said.
Lebanon has been in economic meltdown since late 2019 after decades of corruption and financial mismanagement, pushing more than half of the population below the poverty line.
Yet Mr Mikati, one of the richest men in the Arab world, is a member of the entrenched political elite accused by protesters of running Lebanon’s economy into the ground.
He is the latest in a line of business tycoons to assume the premiership since the end of Lebanon’s 15-year civil war in 1990.
Political career
Mr Mikati is a self-made billionaire, twice former prime minister and member of Parliament representing the northern city of Tripoli — one of the poorest on the Mediterranean.
His political career began in the 1990s, when Lebanon was largely under Syrian control. From 1998 until 2004, he was minister of public works and transport.
“His Syria ties helped him get a ministerial portfolio when Lebanon was under Syrian rule,” Dr Ahmar said.
“It was even rumoured he had a personal relationship with Bashar Al Assad.”
He changed his stance because his Sunni community could not accept it any more after Rafik Hariri’s killing
Fadi Ahmar,
lecturer in Middle East studies
Damascus had troops in Lebanon for nearly 30 years until 2005 and still holds influence in Beirut despite a weakening hold since the onset of its civil war in 2011.
Mr Mikati’s Syria ties even secured him a slice of the Syrian mobile phone sector through his company MTN, the smaller of two mobile network operators in Syria, which he later sold.
But his relations with Damascus and its Lebanese ally Hezbollah began to shift after the assassination of former prime minister Rafik Hariri in 2005. An international court found that Hariri was murdered by a Hezbollah operative.
“He changed his stance because his Sunni community could not accept it any more after Rafik Hariri’s killing, and especially after the Syrian revolution against the regime,” Dr Ahmar said.
The Assad regime is unpopular in Lebanon’s Sunni-majority north. Animosity towards Damascus grew further after its security apparatus murdered mostly Sunni peaceful protesters, initiating Syria’s descent into war.
Mr Mikati has also distanced himself from the Syrian regime and Hezbollah to regain the trust of Lebanon’s estranged allies in the West and the Gulf, Dr Ahmar said.
“He never publicly condemned the regime but he is no longer on good terms with the Syrian government.”
In 2000, Mr Mikati was elected to Parliament for the first time as a representative of Tripoli, a seat he has held continuously except from 2005 to 2009.
He first became prime minister in 2005 after the assassination of Hariri, the father of Saad Hariri. His term lasted only a few months and was focused on organising parliamentary elections.
He became prime minister again in 2011 and led a Hezbollah-dominated government for two years before resigning.
Business empire
Together with his brother Taha, Mr Mikati made his fortune in telecoms.
A former employee described his management style as hands-on.
“Mikati is a one-man show. He likes to be in charge of everything,” the former employee said.
The brothers founded Investcom in 1982 and built mobile phone masts in Ghana, Liberia and Benin, Forbes reported.
In 2007, they co-founded the investment company M1 group, which specialises in telecoms, property, aircraft financing, fashion and energy, Mr Mikati’s official website says.
The company recently bought the Myanmar business of Norwegian telecoms company Telenor after the military coup there pushed them to leave.
Forbes Middle East listed Najib and Taha Mikati as two of the richest Arabs in 2020, ranking ninth and seventh, respectively.
Protesters routinely held sit-ins in front of Mr Mikati’s house in Tripoli in the past year, accusing him of amassing wealth while residents of his city slip further into poverty.
Dr Ahmar, who teaches at the Lebanese University, told The National that Mr Mikati “has a non-confrontational personality”.
“He tries to be on good terms with everyone. He never really cut ties with Hezbollah or the Syrians but he is also close to his Arab, Sunni base.”
If you go
Flights
Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.
The stay
Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
Wenger's Arsenal reign in numbers
1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
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.”
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
More from Neighbourhood Watch:
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Four tips to secure IoT networks
Mohammed Abukhater, vice president at FireEye in the Middle East, said:
- Keep device software up-to-date. Most come with basic operating system, so users should ensure that they always have the latest version
- Besides a strong password, use two-step authentication. There should be a second log-in step like adding a code sent to your mobile number
- Usually smart devices come with many unnecessary features. Users should lock those features that are not required or used frequently
- Always create a different guest network for visitors
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Fixture
Friday, March 29, Abu Dhabi Harlequins v Jebel Ali Dragons, The Sevens, Dubai
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
