Pope Francis received Lebanese President Michel Aoun in a private audience at the Vatican on March 21. EPA / Vatican Media
Pope Francis received Lebanese President Michel Aoun in a private audience at the Vatican on March 21. EPA / Vatican Media
Pope Francis received Lebanese President Michel Aoun in a private audience at the Vatican on March 21. EPA / Vatican Media
Pope Francis received Lebanese President Michel Aoun in a private audience at the Vatican on March 21. EPA / Vatican Media

Pope Francis to visit Lebanon in June, says president's office


Amr Mostafa
  • English
  • Arabic

Pope Francis will visit Lebanon in June, the president’s office said on Tuesday, in an apparent show of support for the country experiencing an unprecedented economic meltdown.

Francis has held special prayers for Lebanon and has repeatedly said since the economic downturn began in October 2019 that he plans to visit the country.

Francis earlier said he was still working on arranging a meeting with the head of the Russian Orthodox Church, despite that leader’s apparent justification for Russia’s invasion of Ukraine.

The leader of the Roman Catholic Church said he would not rule out travelling to Ukraine if it would help.

While returning home from Malta on Sunday, Francis said he and Patriarch Kirill of Moscow were considering a location in the Middle East.

It was not immediately clear if their meeting will be held in Lebanon. The two leaders spoke by video on March 16.

The call was all the more remarkable because Francis and Kirill have only met once, at the Havana airport in 2016, in what was then the first encounter between a pope and Russian patriarch in more than 1,000 years.

Francis’s trip will be the first visit by a pope to the Mediterranean nation since 2012, when Pope Benedict XVI paid a three-day visit to Lebanon.

President Michel Aoun’s office said he received the Vatican’s ambassador to Lebanon, who told him Francis would visit in June, with an exact date and schedule to be decided later.

“The Lebanese have been waiting for this visit for a long time to express their gratitude to the pope for his stance toward Lebanon and its people,” Mr Aoun was quoted as saying.

The Vatican spokesman, Matteo Bruni, said a trip to Lebanon was “one of the hypotheses being studied".

More than 70 per cent of Lebanon’s 6 million people, including 1 million Syrian refugees, now live in poverty because of the crisis rooted in decades of corruption and mismanagement by the ruling class.

The Lebanese pound has lost more than 90 per cent of its value and tens of thousands of people have lost their jobs during the crisis, which the World Bank described as one of the worst the world has witnessed since the 1850s.

  • A coffee shop on Hamra Street in Beirut. The street has changed dramatically over the years, reflecting one of the three biggest financial crashes globally since the 1850s. All photos by AP
    A coffee shop on Hamra Street in Beirut. The street has changed dramatically over the years, reflecting one of the three biggest financial crashes globally since the 1850s. All photos by AP
  • Michel Eid, 88, works in his music shop on Hamra street. Mr Eid has witnessed the rise and fall of Lebanon through the changing fortunes of this famed boulevard for more than 60 years.
    Michel Eid, 88, works in his music shop on Hamra street. Mr Eid has witnessed the rise and fall of Lebanon through the changing fortunes of this famed boulevard for more than 60 years.
  • People pass in front of a beggar, centre, on Hamra Street. Fuelled by massive debt and the unsustainable way it was financed, the crisis has slashed Lebanon's gross domestic product by 58.1% since 2019, the World Bank said.
    People pass in front of a beggar, centre, on Hamra Street. Fuelled by massive debt and the unsustainable way it was financed, the crisis has slashed Lebanon's gross domestic product by 58.1% since 2019, the World Bank said.
  • Naim Saleh, who sells newspapers, magazines and books. Mr Saleh said business has dropped dramatically - he used to sell 50 books a day, compared with only about two a month now.
    Naim Saleh, who sells newspapers, magazines and books. Mr Saleh said business has dropped dramatically - he used to sell 50 books a day, compared with only about two a month now.
  • Shoppers pass a masks street vendor sitting on the ground next to a shop that has closed amid the country's economic crisis.
    Shoppers pass a masks street vendor sitting on the ground next to a shop that has closed amid the country's economic crisis.
  • Hamra Street once was home to the region's top movie theatres, shops selling international brands and cafes where intellectuals from around the Arab world gathered.
    Hamra Street once was home to the region's top movie theatres, shops selling international brands and cafes where intellectuals from around the Arab world gathered.
  • A man passes next to old movie projectors placed outside a theatre in Hamra Street. The projectors were used in the past at the movie theatre once known as Saroula.
    A man passes next to old movie projectors placed outside a theatre in Hamra Street. The projectors were used in the past at the movie theatre once known as Saroula.
  • Today, Hamra Street reflects Lebanon's devastating multiple crises, with closed stores, beggars and piles of trash on the corners.
    Today, Hamra Street reflects Lebanon's devastating multiple crises, with closed stores, beggars and piles of trash on the corners.
  • Beggars sit in front of shops that have been closed since the economic crisis.
    Beggars sit in front of shops that have been closed since the economic crisis.
  • A sign from an old clothes shop set by Hamra Merchants Committee.
    A sign from an old clothes shop set by Hamra Merchants Committee.
  • Michel Eid in his music shop.
    Michel Eid in his music shop.
  • Elie Rbeiz, 70, a hairdresser at his shop in Hamra Street. Mr Rbeiz expanded his business 20 years ago to include men clothes. "Hamra is not the Hamra of the past," he said. His business has dropped 60% over the past two years.
    Elie Rbeiz, 70, a hairdresser at his shop in Hamra Street. Mr Rbeiz expanded his business 20 years ago to include men clothes. "Hamra is not the Hamra of the past," he said. His business has dropped 60% over the past two years.
  • In January, the World Bank blasted Lebanon's ruling class for "orchestrating" one of the world's worst national economic depressions due to their exploitative grip on resources.
    In January, the World Bank blasted Lebanon's ruling class for "orchestrating" one of the world's worst national economic depressions due to their exploitative grip on resources.

Lebanon also continues to struggle against the fall-out from a huge blast at Beirut’s port on August 4, 2020, which killed more than 216 people, injured more than 6,000 and damaged large parts of the capital.

The explosion of thousands of tonnes of improperly stored ammonium nitrate was one of the largest non-nuclear blasts in history. Twenty months later, the stalled judicial investigation has failed to provide answers.

Francis insisted last year that Lebanon must remain a “land of tolerance and pluralism” as he welcomed the country’s Christian patriarchs to the Vatican to pray for an end to the economic and political crisis that has thrown the country into chaos.

Lebanon has the largest percentage of Christians in the Middle East and is the only Arab country with a Christian head of state. Christians make up a third of the population.

The Vatican fears Lebanon’s collapse is particularly dangerous for its Christian community.

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

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MATCH INFO

Uefa Champions League last 16, second leg
Liverpool (0) v Atletico Madrid (1)
Venue: Anfield
Kick-off: Thursday, March 12, midnight
Live: On beIN Sports HD

Results:

5pm: Conditions (PA) Dh80,000 1,400m | Winner: AF Tahoonah, Richard Mullen (jockey), Ernst Oertel (trainer)

5.30pm: Handicap (TB) Dh90,000 1,400m | Winner: Ajwad, Gerald Avranche, Rashed Bouresly

6pm: Maiden (PA) Dh80,000 1,600m | Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinel

6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: Duc De Faust, Szczepan Mazur, Younis Al Kalbani

7pm: Wathba Stallions Cup (PA) Dh70,000 2,200m | Winner: Shareef KB, Fabrice Veron, Ernst Oertel

7.30pm: Handicap (PA) Dh90,000 1,500m | Winner: Bainoona, Pat Cosgrave, Eric Lemartinel

While you're here
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• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.

• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.

• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.

• Met Donald Trump at the White House and received his backing.

THREE
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Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)

Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)  

Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)

Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)

Jemma Eley – goal attack / wing attack (Dubai College)

Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)

Molly Fuller – goal attack / wing attack (Dubai College)

Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)

Noorulain Hussain – goal defence / wing defence (Dubai College)

Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)

Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)         

Eliza Petricola – wing attack / centre (Dubai English Speaking College)

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

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

Cryopreservation: A timeline
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  2. Ovarian tissue surgically removed
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World Sevens Series standing after Dubai

1. South Africa
2. New Zealand
3. England
4. Fiji
5. Australia
6. Samoa
7. Kenya
8. Scotland
9. France
10. Spain
11. Argentina
12. Canada
13. Wales
14. Uganda
15. United States
16. Russia

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Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails

Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies

Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments

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DAY%20ONE%20RESULT
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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.”

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.

Updated: April 06, 2022, 5:53 AM