A block of silos damaged in the Beirut port blast collapsed on Thursday, as Lebanon marked two years since the massive explosion that killed 215 people, injured thousands and destroyed large parts of the capital.
The collapse happened as people were gathering nearby to mark the blast anniversary, leaving some of the silos still standing. Families of the victims held marches in Beirut on Thursday afternoon as they continued their search for justice, with protests also planned in the US, Europe and elsewhere.
A few hundred people began their march at the Justice Palace in Adlieh, holding photos of the victims as well as placards with slogans such as, “You will not kill us twice” and “Lebanon is hostage to a criminal regime”. The number of marchers had grown into the thousands by the time they reached the port.
At 6.07pm - exactly two years after the explosion happened - sirens blared as firefighters commemorated their colleagues and other victims who died in the blast. A moment of silence was broken by the sound of applause for the firefighters and others who perished.
The August 4, 2020, explosion occurred after a huge stock of ammonium nitrate, inexplicably left in storage at the port for years, caught fire.
So far, no senior officials have been held accountable for the blast and a judicial investigation has been stalled for eight months.
There has been widespread political interference in the investigation and two sitting MPs charged in connection with the blast have refused to attend hearings.
“We want justice. We have been waiting for the Lebanese justice for two years and it's not going anywhere,” protester Camille Mourani told The National.
“So today, we are asking for international justice, an international investigation," she said, holding a sign with a picture of one of the ex ministers who is wanted in relation to the investigation.
Families of victims want the UN's Human Rights Council to set up an international enquiry. As part of the march on Thursday, they protested outside the French embassy in Beirut and urged Paris to back an external investigation.
Paul Naggear lost his 3-year-old daughter Alexandra in the blast. As protesters entered Martyrs Square, the site of Lebanon's 2019 protest movement, he said: “Justice in Lebanon is dead.”
“We are relying on the international fact-finding mission from the UN Human Rights Council that has been blocked by France,” he told The National. “We need to lobby to make this happen.”
A handful of protesters - some carrying gallows, others coffins daubed with the names of victims in red paint - briefly clashed with riot police outside parliament.
Speaking on the morning of the anniversary, Lebanon's top Christian cleric Bechara Boutros Al Rai hit out at the government's handling of the investigation, saying it had “no right” to impede justice and that “God condemns those officials” who do so.
"What more do you want, what more than this crime of the century, to act?" he said.
UN Secretary General Antonio Guterres said there had been “two years without justice”.
“In the name of the dead, among them the son of a UN staff member, I reiterate my call for an impartial, thorough and transparent investigation into the explosion,” he said.
Two-year-old Isaac, the son of UN staffer Sarah Copland, was the youngest person to die in the explosion.
Amnesty International, Human Rights Watch, Legal Action Worldwide and other NGOs on Wednesday called on the UN to send a fact-finding mission.
“It is now, more than ever, clear that the domestic investigation cannot deliver justice,” they said.
Official correspondence between political, security and judicial officials has revealed that many were aware about the hazardous substances stored in the port though no meaningful action was taken to remove it.
On the eve of the second anniversary of the deadly blast, Pope Francis said the truth over what happened “can never be hidden”.
The 2020 explosion has been blamed on mismanagement and corruption, and is viewed as a symptom of the country's many systemic problems.
Lebanon is in the grip of a devastating economic crisis which first became apparent in 2019 and has been described by the World Bank as one of the worst in modern history.
Much of the population has been plunged into poverty, the local currency has fallen in value by more than 90 per cent and there are widespread shortages in water, electricity, medicines and other basic supplies.
Compounding the trauma for survivors and relatives of victims is a fire that has blazed for weeks at the port’s grain silos, which were heavily damaged in the blast.
A section of the silos first collapsed on Sunday, with more falling on the anniversary. Efforts to put out the fire have so far been unsuccessful.
On Thursday, as marchers gathered near the port, a Lebanese Army helicopter could be seen dropping what appeared to be water on the site.
The environment and health ministries in late July issued instructions to residents living near the port to stay indoors in well-ventilated spaces and to wear masks.
The fate of the silos, which shielded parts of Beirut from the blast, remains a deeply sensitive topic. In April, Lebanon's Cabinet approved their demolition after a survey found they could collapse in the coming months.
But many Lebanese, including families of some of the blast victims, want the silos to remain as a memorial. Some believe the government is using the fire as a pretext to allow the demolition of the silos.
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
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Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
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Price: expected to start at Dh1,432,000
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.”
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Australia: Aaron Finch (c), Mitchell Marsh, Alex Carey, Ashton Agar, Nathan Coulter-Nile, Chris Lynn, Nathan Lyon, Glenn Maxwell, Ben McDermott, D’Arcy Short, Billy Stanlake, Mitchell Starc, Andrew Tye, Adam Zampa.
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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
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
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The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now