Lebanese Christian leader Samir Geagea at his home in the Lebanese village of Maarab in October 2018.
Lebanese Christian leader Samir Geagea at his home in the Lebanese village of Maarab in October 2018.
Lebanese Christian leader Samir Geagea at his home in the Lebanese village of Maarab in October 2018.
Lebanese Christian leader Samir Geagea at his home in the Lebanese village of Maarab in October 2018.

Lebanese Forces leader summoned to give statement over deadly Beirut clashes


Elias Sakr
  • English
  • Arabic

Lebanon’s military intelligence agency summoned Lebanese Forces leader Samir Geagea on Monday to give a statement about recent clashes that left seven people dead in one of the country’s worst episodes of violence since 2008.

The summons comes after Iran-backed Hezbollah accused the country's second largest Christian party, Lebanese Forces (LF), of shooting at protesters who took to the streets to demand the removal of the judge leading the investigation into the Beirut port blast.

Mr Geagea denied the accusations, arguing that Hezbollah loyalists sparked the clashes with local residents when they stormed and vandalised property in an area that separated Christian and Muslim neighbourhoods during the country’s 15-year civil war.

Mr Geagea was asked to testify at the army intelligence’s headquarters on Wednesday, according to a notice posted at LF headquarters. Mr Geagea was not present to receive the request, a source close to the LF leader told The National.

The source said the LF's parliamentary bloc and legal team will assess the request and decide on future appropriate measures.

However, the source described the move as part of the continuing tug of war between “those who seek to uphold Lebanon’s sovereignty and state monopoly over weapons on one hand, and Hezbollah on the other.”

Mr Geagea had said Hezbollah’s attack on peaceful neighbourhoods was reminiscent of the May 7, 2008 events, when gunmen loyal to the Iran-backed party overran parts of Beirut after the government decided to dismantle its private telecom network.

The LF source said law should apply to all parties including Hezbollah, echoing an earlier statement by Mr Geagea. The latter told a local TV station days earlier he would only give a statement after investigators first listen to Hezbollah leader Hassan Nasrallah.

Mr Geagea, however, said the confrontation with Hezbollah must remain political. Hezbollah leader Hassan Nasrallah has accused Mr Geagea of seeking to instigate civil strife.

Earlier on Monday, the government commissioner at the military court charged 68 people including 18 detainees with murder and inciting sectarian strife in connection with the clashes.

The army said it had concluded investigations into the incident and referred the case to the military prosecutor.

The clashes broke out shortly after protesters gathered for a demonstration organised by Hezbollah and its Shiite ally, Parliament Speaker Nabih Berri’s Amal movement, against Judge Tarek Bitar.

Mr Bitar has issued arrest warrants for two former ministers allied with Hezbollah, including ex-finance minister Ali Hassan Khalil, a close aide of Mr Berri and a member of his parliamentary bloc who was the target of US sanctions last year.

The two indicted officials, along with two other former ministers and former prime minister Hassan Diab, have snubbed Mr Bitar’s summons, arguing he has no authority to prosecute them in line with the constitution. All five argue that they should be tried instead by a special body comprising senior judges and parliamentarians.

Hezbollah has since accused Mr Bitar of politicising the probe into the port explosion that killed over 200 people and destroyed large parts of the capital in August 2020.

Media reports have linked hundreds of tons of explosive fertilisers that were stored at Beirut port for over six years to businessmen with close links to Syrian President Bashar Assad, a key ally of Hezbollah.

It remains unclear who owned the ammonia nitrate, what triggered the explosion or why it was left sitting at the port for so long.

The explosion left Lebanon without a functioning cabinet for a year, compounding the country’s financial meltdown. The crisis has been described by the World Bank as one of the most severe globally since the 1850s.

Lebanon's new cabinet, led by Prime Minister Najib Mikati, has yet to convene since the clashes after ministers affiliated with Hezbollah and its allies threatened to boycott the coming session if Mr Bitar was not replaced.

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.”

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

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THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

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Company%20profile
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The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

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SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP%204
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The specs

Engine: 3.5-litre twin-turbo V6

Power: 380hp at 5,800rpm

Torque: 530Nm at 1,300-4,500rpm

Transmission: Eight-speed auto

Price: From Dh299,000 ($81,415)

On sale: Now

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Updated: October 25, 2021, 3:35 PM