• Michel Aoun, Lebanon's outgoing president, addresses his supporters as he leaves the presidential palace in Baabda on the day before his six-year term officially ends. Reuters
    Michel Aoun, Lebanon's outgoing president, addresses his supporters as he leaves the presidential palace in Baabda on the day before his six-year term officially ends. Reuters
  • Supporters of Lebanese President Michel Aoun gather to say farewell near the presidential palace in Baabda, Lebanon. Reuters
    Supporters of Lebanese President Michel Aoun gather to say farewell near the presidential palace in Baabda, Lebanon. Reuters
  • Supporters of Lebanese President Michel Aoun gather to say farewell near the presidential palace in Baabda, Lebanon. Reuters
    Supporters of Lebanese President Michel Aoun gather to say farewell near the presidential palace in Baabda, Lebanon. Reuters
  • A man sells balloons bearing likenesses of Lebanon's departing President Michel Aoun and Gebran Bassil, a Christian MP, former minister and Mr Aoun's son-in-law, as supporters gather to say farewell to Mr Aoun near the presidential palace in Baabda, Lebanon. Reuters
    A man sells balloons bearing likenesses of Lebanon's departing President Michel Aoun and Gebran Bassil, a Christian MP, former minister and Mr Aoun's son-in-law, as supporters gather to say farewell to Mr Aoun near the presidential palace in Baabda, Lebanon. Reuters
  • Supporters celebrate the career of Michel Aoun, Lebanon's departing president, at the presidential palace in Baabda, Lebanon. Reuters
    Supporters celebrate the career of Michel Aoun, Lebanon's departing president, at the presidential palace in Baabda, Lebanon. Reuters
  • Supporters of the outgoing Lebanese President Michel Aoun gather at Baabda Palace ahead of Aoun's farewell ceremony at the end of his term, Baabda, east of Beirut, Lebanon. EPA
    Supporters of the outgoing Lebanese President Michel Aoun gather at Baabda Palace ahead of Aoun's farewell ceremony at the end of his term, Baabda, east of Beirut, Lebanon. EPA
  • Supporters of the outgoing Lebanese President Michel Aoun pose under a national flag as they gather at Baabda Palace ahead of Aoun's farewell ceremony at the end of his term, Baabda, east of Beirut, Lebanon. EPA
    Supporters of the outgoing Lebanese President Michel Aoun pose under a national flag as they gather at Baabda Palace ahead of Aoun's farewell ceremony at the end of his term, Baabda, east of Beirut, Lebanon. EPA
  • Supporters of the outgoing Lebanese President Michel Aoun gather at Baabda Palace ahead of Aoun's farewell ceremony at the end of his term, Baabda, east of Beirut, Lebanon. EPA
    Supporters of the outgoing Lebanese President Michel Aoun gather at Baabda Palace ahead of Aoun's farewell ceremony at the end of his term, Baabda, east of Beirut, Lebanon. EPA
  • A supporter of the outgoing Lebanese President Michel Aoun holds his portrait during a gathering at Baabda Palace. Mr Aoun served in the Lebanese Army from 1958 to 1991. EPA
    A supporter of the outgoing Lebanese President Michel Aoun holds his portrait during a gathering at Baabda Palace. Mr Aoun served in the Lebanese Army from 1958 to 1991. EPA
  • Supporters of Lebanon's President Michel Aoun at the presidential palace in Baabda. AFP
    Supporters of Lebanon's President Michel Aoun at the presidential palace in Baabda. AFP
  • Lebanon's President Michel Aoun leaves the palace in Baabda on Sunday afternoon. Before his departure he signed a broad government resignation decree. AFP
    Lebanon's President Michel Aoun leaves the palace in Baabda on Sunday afternoon. Before his departure he signed a broad government resignation decree. AFP
  • Supporters of Lebanon's President Michel Aoun cheer under a large national flag, as he prepares to leave the presidential palace in Babbda at the end of his mandate. AFP
    Supporters of Lebanon's President Michel Aoun cheer under a large national flag, as he prepares to leave the presidential palace in Babbda at the end of his mandate. AFP
  • An image of Lebanon's departing President Michel Aoun is held high by a supporter near the presidential palace in Baabda, Lebanon. Reuters
    An image of Lebanon's departing President Michel Aoun is held high by a supporter near the presidential palace in Baabda, Lebanon. Reuters

Qatar envoy visits Lebanon as push to end presidential vacuum continues


Jamie Prentis
  • English
  • Arabic

Qatari Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani has been in Lebanon on an unannounced visit as part of an international effort to end the country's 15-month presidential vacuum. The exact dates of the visit were not clear.

No public mention of the trip was made by the two countries, nor were there any statements by Lebanese politicians. However, a political source played down the significance of the visit being unannounced, noting that not all trips by international envoys are made public.

Qatar is part of a powerful five-country group – the others being the US, France, Saudi Arabia and Egypt – that has explored efforts to end the impasse that has existed since Michel Aoun departed the presidential palace in Baabda at the end of October 2022.

And while many Lebanese political figures have expressed their gratitude for the initiative and the regular visits by the various envoys – whether announced or unannounced – a limited sense of optimism remains among those The National spoke to. Some also argue that a solution must come from within the country, rather than from outside it.

Despite 12 sessions, the deeply divided 128-seat parliament, where no faction holds a majority, has failed to come closer to electing Mr Aoun's successor. In Lebanon's unique confessional system, the position of president is reserved for a Maronite Christian, the prime minister a Sunni Muslim, and the speaker of parliament a Shiite Muslim.

At a meeting last summer in Doha, the five countries said they had discussed “concrete options with respect to implementing measures against those who are blocking progress”.

When the war on Gaza broke out on October 7, last year and spread to Lebanon's southern border, talk of the Lebanese presidential vacuum no longer made local headlines.

Later in December, when French envoy Jean-Yves Le Drian visited Beirut, the impetus appeared to be renewed even as the cross-border conflict between Lebanese armed group Hezbollah and Israel – which has largely been contained to south Lebanon – has continued to expand in its intensity.

Mr Le Drian, a former French foreign minister who was appointed as President Emmanuel Macron's envoy last summer, is expected to visit Lebanon again in early February.

During his November visit he for the first time floated the idea of finding a new candidate who had not received significant backing in previous polls.

Powerful Shiite group Hezbollah and its ally the Amal Movement have refused to budge from backing Suleiman Frangieh, the scion of a powerful Maronite family from north Lebanon and a close friend of Syria's Bashar Al Assad.

A bloc of MPs, comprised of about a third of parliament, backed MP Michel Moawad in the first 11 sessions, before supporting International Monetary Fund official Jihad Azour when the last poll was held last summer. It is widely accepted that neither man now has a chance to succeed Mr Aoun.

One name that continues to come up is the commander of the Lebanese Armed Forces, Gen Joseph Aoun, who is not related to the former president. However, some influential opposition to him remains, particularly from the Free Patriotic Movement – the party founded by Mr Aoun, the former president.

In the event of a presidential vacuum, the Council of Ministers takes on the powers of head of state. But the cabinet is in a caretaker status and its powers are therefore severely curtailed.

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

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It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

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MATCH INFO

Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)

Arsenal win 5-4 on penalties

Man of the Match: Ainsley Maitland-Niles (Arsenal)

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
UAE currency: the story behind the money in your pockets
Match info

Manchester United 1
Fred (18')

Wolves 1
Moutinho (53')

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.”

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

The past winners

2009 - Sebastian Vettel (Red Bull)

2010 - Sebastian Vettel (Red Bull)

2011 - Lewis Hamilton (McLaren)

2012 - Kimi Raikkonen (Lotus)

2013 - Sebastian Vettel (Red Bull)

2014 - Lewis Hamilton (Mercedes)

2015 - Nico Rosberg (Mercedes)

2016 - Lewis Hamilton (Mercedes)

2017 - Valtteri Bottas (Mercedes)

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Tell Me Who I Am

Director: Ed Perkins

Stars: Alex and Marcus Lewis

Four stars

Results

5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer) 

5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud 

6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel 

6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel 

7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami 

7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.  

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Updated: January 24, 2024, 2:31 PM