• Emergency personnel inspect the scene after the car bomb that killed former Lebanese Prime Minister Rafik Hariri, in Beirut. EPA
    Emergency personnel inspect the scene after the car bomb that killed former Lebanese Prime Minister Rafik Hariri, in Beirut. EPA
  • Salim Jamil Ayyash, one of four men wanted for the assassination of Lebanon's former Prime Minister Rafik Hariri. Reuters
    Salim Jamil Ayyash, one of four men wanted for the assassination of Lebanon's former Prime Minister Rafik Hariri. Reuters
  • Judges Walid Akoum, Janet Nosworthy, David Re, Micheline Braidy and Nicola Lettier preside over the courtroom of the Special Tribunal for Lebanon in The Hague in 2014. Reuters
    Judges Walid Akoum, Janet Nosworthy, David Re, Micheline Braidy and Nicola Lettier preside over the courtroom of the Special Tribunal for Lebanon in The Hague in 2014. Reuters
  • Francois Roux, Head of Defence Office, sits beside Anne-Marie Burns, Associate Legal Officer, in the courtroom of the Special Tribunal for Lebanon in The Hague, Netherlands in 2010. Reuters
    Francois Roux, Head of Defence Office, sits beside Anne-Marie Burns, Associate Legal Officer, in the courtroom of the Special Tribunal for Lebanon in The Hague, Netherlands in 2010. Reuters
  • Bahia Hariri, sister of the former Prime Minister Rafik Hariri, in August 2020. EPA
    Bahia Hariri, sister of the former Prime Minister Rafik Hariri, in August 2020. EPA
  • Irish Deputy Police Commisioner Peter Fitzgerald, left, head of a United Nations fact-finding team, inspects the bomb scene in 2005. Reuters
    Irish Deputy Police Commisioner Peter Fitzgerald, left, head of a United Nations fact-finding team, inspects the bomb scene in 2005. Reuters
  • Draped with the Lebanese national flag, the coffin of assassinated former Lebanese prime minister Rafik Hariri is carried through a crowd in central Beirut in February 2005. EPA
    Draped with the Lebanese national flag, the coffin of assassinated former Lebanese prime minister Rafik Hariri is carried through a crowd in central Beirut in February 2005. EPA
  • A woman mourns former prime minister Rafik Hariri during protests in the port city of Sidon, February 15, 2005. Reuters
    A woman mourns former prime minister Rafik Hariri during protests in the port city of Sidon, February 15, 2005. Reuters
  • Lebanese policemen and security forces inspect the scene of the car bomb which blew up the motorcade of former prime minister Rafik Hariri on Beirut's seafront. Reuters
    Lebanese policemen and security forces inspect the scene of the car bomb which blew up the motorcade of former prime minister Rafik Hariri on Beirut's seafront. Reuters
  • Emergency personnel inspect the scene after of a car bomb that killed former Lebanese Prime Minister Rafic Hariri, in Beirut, Lebanon, February 14, 2005. EPA
    Emergency personnel inspect the scene after of a car bomb that killed former Lebanese Prime Minister Rafic Hariri, in Beirut, Lebanon, February 14, 2005. EPA

Lebanon tribunal cancels Salim Ayyash trial over lack of funds


Elias Sakr
  • English
  • Arabic

A new trial against Salim Ayyash, found guilty last year of involvement in the assassination of former Lebanese prime minister Rafik Hariri, has been cancelled by a UN-backed tribunal due to a lack of funds.

The trial was meant to begin on June 16, prosecuting Ayyash, a member of the Iran-backed Lebanese armed group Hezbollah, for attacks on senior Lebanese politicians: former deputy prime minister Elias El Murr, former lawmaker Marwan Hamade and politician George Hawi.

Mr Hamade and El Murr survived the assassination attempts, but Hawi was killed.

The court found the three cases to be connected with the attack that killed Mr Hariri in 2005 and charged Ayyash with five counts, including acts of terrorism.

“The imminent exhaustion of funds will impact the tribunal’s ability to finance the continuation of judicial proceedings and completion of its mandate unless further contributions are forthcoming this month,” the court said.

The Special Tribunal for Lebanon (STL) said days earlier the court would close in July if it didn't find urgent funding.

Lebanon is responsible for covering 49 per cent of the tribunal's budget but has been unable to fulfil its commitments due to a crippling economic and financial crisis that has plunged half the country’s population into poverty.

In March, the UN provided $15.5 million in additional funding to plug the deficit but funding remains short.

Ahead of the trial, it urged the international community to provide further financial support.

“The STL continues its intensive efforts to raise the funds required to carry on its ongoing judicial proceedings and reiterates its urgent call upon the international community for its continued financial support,” the STL said.

Lawyers representing the victims said the tribunal’s failure for financial reasons would send a negative message to those awaiting justice, describing the court as "the last hope for rule of law and justice in Lebanon".

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Fuel economy combined 12.2L / 100km

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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.”

MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Two products to make at home

Toilet cleaner

1 cup baking soda 

1 cup castile soap

10-20 drops of lemon essential oil (or another oil of your choice) 

Method:

1. Mix the baking soda and castile soap until you get a nice consistency.

2. Add the essential oil to the mix.

Air Freshener

100ml water 

5 drops of the essential oil of your choice (note: lavender is a nice one for this) 

Method:

1. Add water and oil to spray bottle to store.

2. Shake well before use. 

Dolittle

Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

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Inter Milan 2 (Vecino 65', Barella 83')

Verona 1 (Verre 19' pen)

The specs

Engine 60kwh FWD

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Power 204hp Torque 360Nm

Price, base / as tested Dh174,500 

'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5

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