Smoke rises over ancient Roman ruins in Lebanon's Baalbek city following an Israeli air strike on October 31. AFP
Smoke rises over ancient Roman ruins in Lebanon's Baalbek city following an Israeli air strike on October 31. AFP
Smoke rises over ancient Roman ruins in Lebanon's Baalbek city following an Israeli air strike on October 31. AFP
Smoke rises over ancient Roman ruins in Lebanon's Baalbek city following an Israeli air strike on October 31. AFP

Israeli army strikes Lebanon's historic city of Baalbek after issuing new eviction orders


Nada Maucourant Atallah
  • English
  • Arabic

Live updates: Follow the latest on Israel-Gaza

Several air strikes hit Baalbek in eastern Lebanon on Sunday, after the Israeli military issued eviction orders for parts of the historical city and a neighbouring village. The Israeli strikes in Baalbek and Douris destroyed or damaged many buildings, including a restaurant located just metres from the Baalbek Government Hospital, Lebanon's National News Agency (NNA) reported.

Lebanon's health ministry said the hospital, “which is currently crowded with patients and wounded individuals”, was also damaged in the attack, which it condemned as a breach of international and humanitarian laws. Abbas Shoker, the director of Baalbek Governmental Hospital said the damage was minor. “We expect to replace the shattered glass within 24 hours, and our operations will not be disrupted. We are fully prepared,” he said.

The warning to residents of Baalbek and Douris was the third issued for the area by Israeli army spokesman Avichay Adraee since Wednesday, but the first to mention specific buildings. It identified four structures in Baalbek, including one near the city's main hospital and Dar Baalbek school, and one building in Douris.

Israel has dramatically escalated its air strikes on Baalbek and other parts of Lebanon's Bekaa Valley this week, killing more than 150 people. On Wednesday, it issued a citywide bombing alert for Baalbek – a Unesco World Heritage Site renowned for its 3,000-year-old Roman temples, among the best-preserved in the world – and surrounding areas. It was the first time the Israeli military has issued a displacement order for an entire city since it escalated its attacks on Lebanon in late September.

But the strikes in the Bekaa Valley have also hit outside the designated zones. An attack on Bednayel, an area near Baalbek not covered by the warnings, killed eight people including two children on Wednesday.

The Israeli army has issued eviction orders for dozens of villages in southern Lebanon, urging residents to leave immediately. According to the UN, these warnings covered a quarter of Lebanon’s territory – an assessment made before the Baalbek bombing notices were issued. Since then, tens of thousands of people have fled the area. Human rights group Amnesty International has raised concerns over these “evacuation orders” and potential mass forced displacements.

Israel says it is targeting Hezbollah, the Lebanese political and armed group which holds sway over parts of the Bekaa Valley. Intensified attacks in the area and neighbouring Syria suggest an effort to sever the group's supply route for weapons. However, civilians are bearing the brunt of the attacks. Bashir Khodor, the governor of Baalbek-Hermel, said that more than two thirds of the 67 people killed in attacks on the governorate on October 28 were women and children.

The National visited Baalbek district three times this week, speaking with several civilian victims, including children in hospitals, affected by the rising violence.

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A

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.”

How%20champions%20are%20made
%3Cp%3E%0D%3Cstrong%3EDiet%3C%2Fstrong%3E%20%0D%3Cbr%3E7am%20-%20Protein%20shake%20with%20oats%20and%20fruits%0D%3Cbr%3E10am%20-%205-6%20egg%20whites%0D%3Cbr%3E1pm%20-%20White%20rice%20or%20chapati%20(Indian%20bread)%20with%20chicken%0D%3Cbr%3E4pm%20-%20Dry%20fruits%20%0D%3Cbr%3E7.30pm%20-%20Pre%20workout%20meal%20%E2%80%93%20grilled%20fish%20or%20chicken%20with%20veggies%20and%20fruits%0D%3Cbr%3E8.30pm%20to%20midnight%20workout%0D%3Cbr%3E12.30am%20%E2%80%93%20Protein%20shake%20%0D%3Cbr%3E%3Cstrong%3ETotal%20intake%3A%3C%2Fstrong%3E%204000-4500%20calories%20%0D%3Cbr%3E%3Cstrong%3ESaidu%E2%80%99s%20weight%3A%3C%2Fstrong%3E%20110%20kg%0D%3Cbr%3E%3Cstrong%3EStats%3A%3C%2Fstrong%3E%20Biceps%2019%20inches.%20Forearms%2018%20inches%3C%2Fp%3E%0A
Updated: November 03, 2024, 6:21 PM