Lebanon's parliament speaker Nabih Berri in Beirut on October 1, 2020. Reuters / Aziz Taher
Lebanon's parliament speaker Nabih Berri in Beirut on October 1, 2020. Reuters / Aziz Taher
Lebanon's parliament speaker Nabih Berri in Beirut on October 1, 2020. Reuters / Aziz Taher
Lebanon's parliament speaker Nabih Berri in Beirut on October 1, 2020. Reuters / Aziz Taher

Nabih Berri re-elected as Lebanon's parliament speaker for 7th term


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  • Arabic

Veteran politician Nabih Berri was re-elected as speaker of Lebanon’s parliament by simple majority for the seventh time in a row on Tuesday.

Mr Berri, 84, has served as speaker since 1992. He was the only candidate for the post of speaker.

Under the country's political system, the position is reserved for a Shiite Muslim.

He won by 65 votes in the 128-strong legislature ― the minimum number needed to secure the seat.

It is the lowest number of votes Mr Berri has received in his three decades of serving as the Speaker of Parliament. By contrast, in 2018, he won by 98 votes.

Twenty-three votes were returned blank and 40 were declared invalid.

  • Workers remove sections of the concrete barrier, which was erected by Lebanese security forces in 2020 to bar access to streets leading to the country's parliament building, at the entrance of the Lebanese Parliament in the capital Beirut. AFP
    Workers remove sections of the concrete barrier, which was erected by Lebanese security forces in 2020 to bar access to streets leading to the country's parliament building, at the entrance of the Lebanese Parliament in the capital Beirut. AFP
  • Lebanese authorities have ordered that the concrete barriers that have blocked access to the Parliament building since 2019 be removed. EPA
    Lebanese authorities have ordered that the concrete barriers that have blocked access to the Parliament building since 2019 be removed. EPA
  • The blockade was put in place after nationwide protests against Lebanon's ruling classes broke out. EPA
    The blockade was put in place after nationwide protests against Lebanon's ruling classes broke out. EPA
  • The removal of the barrier comes after parliamentary elections on May 15. EPA
    The removal of the barrier comes after parliamentary elections on May 15. EPA
  • Among those elected were 13 independent opposition MPs — many of whom were linked to the uprising in 2019. AFP
    Among those elected were 13 independent opposition MPs — many of whom were linked to the uprising in 2019. AFP
  • Of the independents, 12 will be entering Parliament for the first time, most of whom had previously called for the barriers to be taken down. AP
    Of the independents, 12 will be entering Parliament for the first time, most of whom had previously called for the barriers to be taken down. AP
  • New MP Elias Jradi said: 'There are no walls that rise between the representatives of the nation and citizens.' EPA
    New MP Elias Jradi said: 'There are no walls that rise between the representatives of the nation and citizens.' EPA
  • The blocks were being carted away and workers cleaned the surrounding streets. EPA
    The blocks were being carted away and workers cleaned the surrounding streets. EPA

The voting was disrupted by some MPs protesting that the vote counting was not read out properly, claiming it was being rigged.

Mr Berri then read some out loud. In what appeared to be an assemblage of protest votes by anti-establishment MPs born out of Lebanon's October 17 protest movement, Mr Berri read several ballots which carried pointed political messages.

One read, "Justice for the victims of the port explosion," in reference to the devastating blast in August 20 that killed at least 215 people.

The votes were then re-counted, this time out loud.

Lebanon elected a new parliament on May 15, in the first legislative election since the country's economic meltdown began.

“I will serve the Lebanese country regardless of sect or political alignment,” Mr Berri said after his re-election.

"Let the differences and competition be for the best for Lebanon".

Mr Berri heads the Amal Movement and has been a close ally of the heavily armed Iran-backed Hezbollah since the end of the 1975-90 civil war.

Heavy gunfire erupted in Beirut shortly after Mr Berri's was re-elected. In a statement published on Monday, he had called on his supporters to avoid such displays of support. Celebratory gunfire is frequent in Lebanon and often leads to fatalities.

MP Sami Gemayel complained to Mr Berri during the session about the sounds of bullets shot into the air.

Mr Berri shrugged. "I issued a statement about this, what else can I do?"

Parliament then proceeded to elect former education and defence minister Elias Bou Saab as deputy parliament speaker. Mr Bou Saab, 55, is a member of President Michel Aoun’s Free Patriotic Movement.

It took two rounds of voting for parliament to elect Mr Bou Saab, who did not obtain the absolute majority in the first round, with only 64 votes.

Legislators also elected two secretaries and three commissioners after a lengthy debate over the method of conduct the voting process for those posts.

The new parliament is deeply divided with no coalition holding a majority. The Hezbollah group and its allies lost the advantage they had held since 2018, and now hold 61 seats — four short of an absolute majority.

The 19 MPs from the Christian Lebanese Forces, who are fiercely critical of Hezbollah and their Christian ally, the Free Patriotic Movement, supported Mr Bou Saab's rival, surgeon Ghassan Skaff. Mr Skaff obtained 60 votes in the second round.

Despite changes in parliament and a history-making election of 13 new anti-establishment legislators, there was no alternative to Mr Berri.

All 27 Shiite MPs elected on May 15 are affiliated with either Amal or its ally Hezbollah, viewed as a terrorist organisation by several western countries.

The popularity of Lebanon's traditional sectarian political clique is at rock bottom since the start of the country's economic crisis in 2019.

The 13 new opposition MPs walked to parliament from Beirut's port, where they had met with families of the blast victims.

Ali Noureddine, a 28-year old protester, told The National : "We are standing here to demand that the port explosion investigation file is a priority, and in solidarity with independent MPs who were voted into Parliament to tell them that they are not alone."

Lebanon has been suffering for months from water, electricity, medicine and bread shortages. Politicians have been able to do little to stem shortages - harsh symptoms of Lebanon's prolonged economic collapse.

As voting was under way for Mr Bou Saab, an MP told Mr Berri: "We want the AC. We're hot".

Referencing the shortages, Mr Berri answered: "Deal with it, there are people who live without any electricity."

The Parliament session, marked by bickering and debate over the proper way to conduct votes, foretells of potential future divisions that may well face a deeply split Parliament. The new Parliament will now be tasked with forming a cabinet, and enacting reforms necessary to bring Lebanon out of a steep economic mire.

"The path to change is not an easy one," said Ibrahim Mneimne, one of 13 independent, anti-establishment MPs voted into Parliament. "We see how difficult it will be."

Yet celebrations occurred inside and outside Parliament on Tuesday. In a media room where the session was being monitored by journalists, some broke into applause when Mr Berri's re-election was announced. Videos circulated of security officers dancing in the streets.

Lebanese police officers in Beirut celebrate Nabih Berri's re-election as parliament speaker. Reuters / Aziz Taher
Lebanese police officers in Beirut celebrate Nabih Berri's re-election as parliament speaker. Reuters / Aziz Taher
ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
%3Cp%3EAndroid%20Alpha%3C%2Fp%3E%0A%3Cp%3EAndroid%20Beta%3C%2Fp%3E%0A%3Cp%3EAndroid%20Cupcake%3C%2Fp%3E%0A%3Cp%3EAndroid%20Donut%3C%2Fp%3E%0A%3Cp%3EAndroid%20Eclair%3C%2Fp%3E%0A%3Cp%3EAndroid%20Froyo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Gingerbread%3C%2Fp%3E%0A%3Cp%3EAndroid%20Honeycomb%3C%2Fp%3E%0A%3Cp%3EAndroid%20Ice%20Cream%20Sandwich%3C%2Fp%3E%0A%3Cp%3EAndroid%20Jelly%20Bean%3C%2Fp%3E%0A%3Cp%3EAndroid%20KitKat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Lollipop%3C%2Fp%3E%0A%3Cp%3EAndroid%20Marshmallow%3C%2Fp%3E%0A%3Cp%3EAndroid%20Nougat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Oreo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Pie%3C%2Fp%3E%0A%3Cp%3EAndroid%2010%20(Quince%20Tart*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2011%20(Red%20Velvet%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2012%20(Snow%20Cone*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2013%20(Tiramisu*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2014%20(Upside%20Down%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2015%20(Vanilla%20Ice%20Cream*)%3C%2Fp%3E%0A%3Cp%3E%3Cem%3E*%20internal%20codenames%3C%2Fem%3E%3C%2Fp%3E%0A
How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 11.12L/100km

Price: From Dh796,600

On sale: now

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.”

The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

'How To Build A Boat'
Jonathan Gornall, Simon & Schuster

Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%3Cbr%3E%3C%2Fp%3E%0A

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

ARSENAL IN 1977

Feb 05 Arsenal 0-0 Sunderland

Feb 12 Manchester City 1-0 Arsenal

Feb 15 Middlesbrough 3-0 Arsenal

Feb 19 Arsenal 2-3 West Ham

Feb 26 Middlesbrough 4-1 Arsenal (FA Cup)

Mar 01 Everton 2-1 Arsenal

Mar 05  Arsenal 1-4 ipswich

March 08 Arsenal 1-2 West Brom

Mar 12 QPR 2-1 Arsenal

Mar 23 Stoke 1-1 Arsenal

Apr 02  Arsenal 3-0 Leicester

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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

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Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

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Updated: May 31, 2022, 2:02 PM