Georges Ibrahim Abdallah during his trial in Lyon, in July 1986, with his lawyer Jacques Verges. AFP
Georges Ibrahim Abdallah during his trial in Lyon, in July 1986, with his lawyer Jacques Verges. AFP
Georges Ibrahim Abdallah during his trial in Lyon, in July 1986, with his lawyer Jacques Verges. AFP
Georges Ibrahim Abdallah during his trial in Lyon, in July 1986, with his lawyer Jacques Verges. AFP

French court orders release of Lebanese militant imprisoned since 1984 for Paris killings


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A French court on Friday ordered the release of pro-Palestinian Lebanese militant Georges Ibrahim Abdallah, jailed for 40 years after being convicted over the killing of two foreign diplomats, prosecutors said.

The court said Abdallah, first detained in 1984 and convicted in 1987 over the 1982 murders, would be released on December 6 on the condition that he leaves France.

French anti-terror prosecutors said in a statement to The National that they would appeal within 24 hours.

The founder of the Lebanese Armed Revolutionary Factions (LARF), which was an offshoot of the Popular Front for the Liberation of Palestine, Abdallah is the face of a violent period in France when attacks related to the Middle East were perpetrated regularly.

A campaign to release Georges Ibrahim Abdallah has run for most of the 40 years he has been in jail. AFP
A campaign to release Georges Ibrahim Abdallah has run for most of the 40 years he has been in jail. AFP

The 11 requests for release he has made since 2001 have mostly been rejected as a result of his refusal to repudiate the killings or compensate the victims' relatives, and because his return to Lebanon would spark new upheavals.

An inmate of the Lannemezan prison in south-west France, Abdallah, now 73, has always acknowledged his involvement in the murders of US military attache Charles Robert Ray and Israeli diplomat Yacov Barsimantov in Paris. Throughout he has insisted he is a “fighter” who battled for the rights of Palestinians and not a “criminal”.

Born the son of a Lebanese army officer in Qoubaiyat, a village in the north, Abdallah became a secondary school teacher. Revolutionary politics took over and after a series of attacks attributed to his group he was arrested in Lyon collecting the deposit on a property in October 1984. The search of properties under the nom de guerre Abdel Kader Saadi turned up radio transmitters and automatic weapons.

Initially sentenced to four years for possession of arms, the pressure on the authorities to press for a life sentence was immense. A bombing campaign thought to be led by Abdallah's brother Emile in 1986 led to 10 more deaths. A new trial opened in 1987.

Lebanese Prime Minister Najib Mikati asked France on a visit for the authorities to release him and described Abdallah as “a political prisoner” in 2012. He had been eligible to apply for parole since 1999 but all his previous applications had been turned down, except in 2013 when he was granted release on the condition he was expelled from France.

After a phone call lobbying the French government from Hillary Clinton, then US Secretary of State, the interior minister Manuel Valls refused to go through with the order and Abdallah remained in jail.

Abdallah's current lawyer, Jean-Louis Chalanset, said Friday's decision was “a legal and a political victory”. His legal team maintains that Abdallah has spent the longest time in prison in the world for acts related to the Israeli-Palestinian conflict.

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Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

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Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

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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Director: Anna Boden, Ryan Fleck

Starring: Brie Larson, Samuel L Jackson, Jude Law,  Ben Mendelsohn

4/5 stars

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MWTC info

Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Updated: November 16, 2024, 9:15 AM