Ali Akbar Mohtashamipour, a Shiite cleric who as Iran's ambassador to Syria helped found the Lebanese militant group Hezbollah, has died of Covid-19. AP
Ali Akbar Mohtashamipour, a Shiite cleric who as Iran's ambassador to Syria helped found the Lebanese militant group Hezbollah, has died of Covid-19. AP
Ali Akbar Mohtashamipour, a Shiite cleric who as Iran's ambassador to Syria helped found the Lebanese militant group Hezbollah, has died of Covid-19. AP
Ali Akbar Mohtashamipour, a Shiite cleric who as Iran's ambassador to Syria helped found the Lebanese militant group Hezbollah, has died of Covid-19. AP

Iran cleric who founded Hezbollah and survived Israeli book bomb dies of Covid-19


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Ali Akbar Mohtashamipour, a Shiite cleric who helped found the Lebanese militant group Hezbollah and lost his right hand to a book bombing reportedly carried out by Israel, died on Monday of Covid-19. He was 74.

A close ally of Iran's late supreme leader Ayatollah Ruhollah Khomeini, Mohtashamipour in the 1970s formed alliances with groups across the Middle East.

After the 1979 revolution, he helped found the Islamic Revolutionary Guard Corps (IRGC) in Iran and, as ambassador to Syria, took the force across the region to help form Hezbollah.

In his later years, he slowly joined the cause of reformists in Iran, hoping to change its theocracy from the inside.

He backed the opposition leaders Mir Hossein Mousavi and Mahdi Karroubi in Iran’s Green Movement protests that followed the disputed 2009 re-election of president Mahmoud Ahmadinejad.

"If the whole people become aware, avoid violent measures and continue their civil confrontation with that, they will win," Mohtashamipour said at the time, although Mr Ahmadinejad would remain in office.

“No power can stand up to people’s will.”

Mohtashamipour died at a hospital in northern Tehran after contracting the coronavirus, the state-run IRNA news agency reported.

The cleric, who wore a black turban that identified him in Shiite tradition as a direct descendant of the Prophet Mohammed, had been living in the Shiite holy city of Najaf, Iraq, over the last 10 years after the disputed election in Iran.

Hardline judiciary chief Ebrahim Raisi, now considered the leading candidate in Iran’s presidential election next week, offered condolences to Mohtashamipour’s family.

The US Embassy in Beirut on April 18, 1983, after a bomb destroyed part of the building. AFP
The US Embassy in Beirut on April 18, 1983, after a bomb destroyed part of the building. AFP

“The deceased was one of the holy warriors on the way to the liberation of Jerusalem and one of the pioneers in the fight against the usurping Zionist regime,” Mr Raisi said, according to IRNA.

Born in Tehran in 1947, Mohtashamipour met Khomeini as the cleric lived in exile in Najaf after being expelled from Iran by Shah Mohammad Reza Pahlavi.

In the 1970s, Mohtashamipour crossed the Middle East speaking to militants groups at the time, helping to form an alliance between what would become the Islamic republic and the Palestinian Liberation Organisation as it battled Israel.

Once arrested by Iraq, Mohtashamipour found his way to Khomeini's residence in exile outside of Paris. They returned triumphant to Iran in the 1979 revolution.

In 1982, Khomeini sent Mohtashamipour to Syria, then under the rule of dictator Hafez Assad.

While ostensibly a diplomat, Mohtashamipour oversaw the millions that poured in to fund the IRGC’s operations in the region.

Lebanon, then dominated by Syria, which sent tens of thousands of troops there, was invaded by Israel in 1982 as it pursued the PLO in Lebanon.

Iranian support flowed into the Shiite communities occupied by Israel. That helped create a militant group called Hezbollah, or “the Party of God”.

The US blames Hezbollah for the 1983 bombing of its embassy in Beirut, killing 63 people, as well as the bombing later that year of the US Marine barracks in the Lebanese capital that killed 241 US troops and another attack that killed 58 French paratroopers. Hezbollah and Iran denied being involved.

A photo taken after the bombing of the US marine barracks in Beirut in 1983. AP
A photo taken after the bombing of the US marine barracks in Beirut in 1983. AP

“The court finds that it is beyond question that Hezbollah and its agents received massive material and technical support from the Iranian government,” US District Judge Royce Lamberth wrote in 2003 after relatives of 241 US service personnel brought a case against Iran for the barracks bombing.

That opinion, quoting a US Navy intelligence official, directly named Mohtashamipour as being told by Tehran to reach out to the nascent Hezbollah to "instigate attacks against the multinational coalition in Lebanon, and 'to take a spectacular action against the United States Marines'".

An IRNA obituary of Mohtashamipour described him as “one of the founders of Hezbollah in Lebanon” and blamed Israel for the bombing that wounded him.

It did not discuss the US allegations about his involvement in the suicide bombings targeting Americans.

At the time of the assassination attempt on him, Israel's Mossad intelligence agency had received approval from prime minister Yitzhak Shamir to pursue Mohtashamipour, according to Rise and Kill First, a book on Israeli assassinations by journalist Ronen Bergman.

They chose to send a bomb hidden inside a book described as a “magnificent volume in English about Shiite holy places in Iran and Iraq” on Valentine’s Day in 1984, Bergman wrote.

The bomb exploded when Mohtashamipour opened the book, tearing away his right hand and two fingers on his left. But he survived, later becoming Iran’s interior minister and serving as a hardline lawmaker in parliament before joining reformists in 2009.

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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%3Cp%3E%3Cstrong%3ETHE%20SPECS%3C%2Fstrong%3E%0D%3Cbr%3EEngine%3A%203.5-litre%20V6%0D%3Cbr%3ETransmission%3A%209-speed%20automatc%0D%3Cbr%3EPower%3A%20279hp%0D%3Cbr%3ETorque%3A%20350Nm%0D%3Cbr%3EPrice%3A%20From%20Dh250%2C000%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

START-UPS%20IN%20BATCH%204%20OF%20SANABIL%20500'S%20ACCELERATOR%20PROGRAMME
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Forced%20Deportations
%3Cp%3EWhile%20the%20Lebanese%20government%20has%20deported%20a%20number%20of%20refugees%20back%20to%20Syria%20since%202011%2C%20the%20latest%20round%20is%20the%20first%20en-mass%20campaign%20of%20its%20kind%2C%20say%20the%20Access%20Center%20for%20Human%20Rights%2C%20a%20non-governmental%20organization%20which%20monitors%20the%20conditions%20of%20Syrian%20refugees%20in%20Lebanon.%3C%2Fp%3E%0A%3Cp%3E%E2%80%9CIn%20the%20past%2C%20the%20Lebanese%20General%20Security%20was%20responsible%20for%20the%20forced%20deportation%20operations%20of%20refugees%2C%20after%20forcing%20them%20to%20sign%20papers%20stating%20that%20they%20wished%20to%20return%20to%20Syria%20of%20their%20own%20free%20will.%20Now%2C%20the%20Lebanese%20army%2C%20specifically%20military%20intelligence%2C%20is%20responsible%20for%20the%20security%20operation%2C%E2%80%9D%20said%20Mohammad%20Hasan%2C%20head%20of%20ACHR.%3Cbr%3EIn%20just%20the%20first%20four%20months%20of%202023%20the%20number%20of%20forced%20deportations%20is%20nearly%20double%20that%20of%20the%20entirety%20of%202022.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3ESince%20the%20beginning%20of%202023%2C%20ACHR%20has%20reported%20407%20forced%20deportations%20%E2%80%93%20200%20of%20which%20occurred%20in%20April%20alone.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EIn%20comparison%2C%20just%20154%20people%20were%20forcfully%20deported%20in%202022.%3C%2Fp%3E%0A
Violence%20
%3Cp%3EInstances%20of%20violence%20against%20Syrian%20refugees%20are%20not%20uncommon.%3C%2Fp%3E%0A%3Cp%3EJust%20last%20month%2C%20security%20camera%20footage%20of%20men%20violently%20attacking%20and%20stabbing%20an%20employee%20at%20a%20mini-market%20went%20viral.%20The%20store%E2%80%99s%20employees%20had%20engaged%20in%20a%20verbal%20altercation%20with%20the%20men%20who%20had%20come%20to%20enforce%20an%20order%20to%20shutter%20shops%2C%20following%20the%20announcement%20of%20a%20municipal%20curfew%20for%20Syrian%20refugees.%3Cbr%3E%E2%80%9CThey%20thought%20they%20were%20Syrian%2C%E2%80%9D%20said%20the%20mayor%20of%20the%20Nahr%20el%20Bared%20municipality%2C%20Charbel%20Bou%20Raad%2C%20of%20the%20attackers.%3Cbr%3EIt%20later%20emerged%20the%20beaten%20employees%20were%20Lebanese.%20But%20the%20video%20was%20an%20exemplary%20instance%20of%20violence%20at%20a%20time%20when%20anti-Syrian%20rhetoric%20is%20particularly%20heated%20as%20Lebanese%20politicians%20call%20for%20the%20return%20of%20Syrian%20refugees%20to%20Syria.%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A