The Beirut square that was once the site of mass protests against Lebanon’s ruling class became a place of joy and jubilation on Monday night, as hundreds of Lebanese gathered in the heart of the capital to celebrate their new President and Prime Minister.
The appointment of former army chief Joseph Aoun as President and veteran diplomat and chief of the International Court of Justice Nawaf Salam as Prime Minister has created a sense of renewed hope among many Lebanese.
“We’re overjoyed, it’s a dream come true,” said Tahani Mahjoub, 33, a social activist. “They are the right candidates for the job, and we believe they can steer the country to security and stability,” she told The National.
Ms Mahjoub was one of scores of Lebanese who gathered in Martyrs’ Square in Beirut to celebrate the appointment of what they described as the type of “qualified” candidates they had been demanding for years.
“This is the change we’ve been seeking since October 17,” said Ghida Farhat, referring to the start of a mass protest movement in 2019 that took tens of thousands of Lebanese to the streets against governance by Lebanon’s ruling parties.
“Joseph Aoun and Nawaf Salam are the right people for the job, and the right people to bring change,” Ms Farhat, 26, a marketing and communications specialist who moved back to Lebanon from Dubai in 2023, told The National.
Lebanese are cautiously optimistic about the appointment of their new President and Prime Minister, both of whom are not affiliated with any of Lebanon’s long-governing political parties.
“It’s not just about seeing new faces in power, it’s about the faces themselves,” said Ghiya Al Assaad, 25.
“Joseph Aoun has reminded us that we can have trust in Lebanese institutions and the Lebanese state again,” said the media writer and international relations graduate. “It feels like a breath of fresh air”.
Since late 2019, Lebanon has struggled under the weight of compounding crises created by decades of corruption and mismanagement. The collapse of Lebanon’s once globally-praised banking sector and the continuing economic crisis, one of the worst in Lebanese history, have left the country in shambles.
We’re feeling a sense of hope we had forgotten
Ghiya Al Assaad,
25
Despite the crisis, political and sectarian divisions put Lebanon in a state of deadlock, leaving the country without a president for two years and run by a caretaker cabinet with limited powers.
In September last year, Lebanon was dealt another blow when more than a year of cross-border fighting between Israel and Hezbollah escalated into a full-scale war, with Israeli attacks killing almost 4,000 people and leaving entire towns and villages in ruins. Almost 1.2 million people were displaced, many of whom were left on the streets in the absence of a proper government contingency plan. Many found their homes destroyed after a ceasefire was reached in late November.
“2024 was a very tough year, and we lived through months where our lives were in danger, homes destroyed and lands occupied,” Ms Al Assaad said. “It was a time when we did not see the light at the end of the tunnel, but now we’re feeling a sense of hope we had forgotten”.
Lebanon’s new President and Prime Minister face the task of ensuring that the ceasefire agreement with Israel is observed and respected amid continuous Israeli incursions. They will also have to lead postwar reconstruction efforts and implement long-awaited reforms to revive the economy and get Lebanon back on its feet again.
Despite the challenges ahead, Ms Farhat said the new appointments are a clear indicator of a “new era” in Lebanon.
“It’s delusional to say change will come overnight, but I really believe it just started.”
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
COMPANY%20PROFILE
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
UAE squad
Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
AIR
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Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
RECORD%20BREAKER
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Company%20Profile
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if you go
The flights
Emirates fly direct from Dubai to Houston, Texas, where United have direct flights to Managua. Alternatively, from October, Iberia will offer connections from Madrid, which can be reached by both Etihad from Abu Dhabi and Emirates from Dubai.
The trip
Geodyssey’s (Geodyssey.co.uk) 15-night Nicaragua Odyssey visits the colonial cities of Leon and Granada, lively country villages, the lake island of Ometepe and a stunning array of landscapes, with wildlife, history, creative crafts and more. From Dh18,500 per person, based on two sharing, including transfers and tours but excluding international flights. For more information, visit visitnicaragua.us.
STAY%2C%20DAUGHTER
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EYasmin%20Azad%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ESwift%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
KILLING OF QASSEM SULEIMANI
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now