A crater is left after Lebanese Army soldiers blew up a device in the car park of the American University of Beirut Medical Centre in Beirut on September 18, 2024. The day before, pagers rigged with explosives were detonated, killing 12 people, including members of Lebanon's Hezbollah, injuring more than 2,800 others. EPA
A crater is left after Lebanese Army soldiers blew up a device in the car park of the American University of Beirut Medical Centre in Beirut on September 18, 2024. The day before, pagers rigged with explosives were detonated, killing 12 people, including members of Lebanon's Hezbollah, injuring more than 2,800 others. EPA
A crater is left after Lebanese Army soldiers blew up a device in the car park of the American University of Beirut Medical Centre in Beirut on September 18, 2024. The day before, pagers rigged with explosives were detonated, killing 12 people, including members of Lebanon's Hezbollah, injuring more than 2,800 others. EPA
A crater is left after Lebanese Army soldiers blew up a device in the car park of the American University of Beirut Medical Centre in Beirut on September 18, 2024. The day before, pagers rigged with e

Turkey intercepted second batch of pagers rigged with explosives after Israeli attack on Hezbollah


Lizzie Porter
  • English
  • Arabic

Turkey’s intelligence services intercepted a shipment of explosive-rigged electronics on its way to Lebanon last September, possibly preventing a repeat of the lethal Israeli attacks on the Hezbollah militant group days earlier, Turkish media and officials said.

Turkey’s spy agency, the MIT, received intelligence that a shipment weighing 850kg, containing 1,300 pagers and 710 charging devices, arrived at Istanbul Airport in September 2024, the Daily Sabah newspaper reported, one day before a wide-scale Israeli attack in Lebanon that blew up thousands of pagers in use by Hezbollah members.

A Turkish intelligence official said there was no official statement on the Daily Sabah report, but told The National that its details were correct.

MIT launched an operation, using information that the shipment from Hong Kong, labelled as "food choppers", was scheduled to depart from Istanbul to Beirut through the Turkish city's main airport, Daily Sabah said.

Istanbul Prosecutor’s Office ordered the confiscation of the cargo, and the shipment was transferred to a laboratory where analysis revealed three grams of a white, unidentified explosive material placed inside each pager’s battery block, along with detonator fuses.

An analysis of the desktop chargers and batteries also found a brown coloured explosive material that had been inserted into the batteries.

Speaking to the Associated Press, a Hezbollah spokesman said that days after the September 17 pagers attack in Lebanon and Syria, Hezbollah informed Turkish intelligence that a shipment of pagers was in Turkey and about to be sent to Lebanon.

Turkish authorities confiscated the pagers and most likely destroyed them, the Hezbollah spokesman said, without adding detail. Daily Sabah did not clarify what happened to the charging devices and pagers, which were from the Taiwanese manufacturer Gold Apollo, the newspaper’s report added.

Israel confirmed last year that it carried out the pager and walkie-talkie attacks in Lebanon in September, although the Israeli military did not immediately respond to The National's request for comment on the Turkish interception of another shipment of rigged devices.

The explosions represented a huge escalation in the conflict with the Lebanese militant group that had been ongoing since the Hamas-led attacks on southern Israel on October 7, 2023.

Hezbollah’s leader Hassan Nasrallah was killed in an Israeli strike on Beirut 10 days later, and the cross-border fighting only eased in late November, when a ceasefire came into force. The pager attack killed dozens of people and wounded thousands more, including civilians. Two children were among those killed.

It is not clear why the details of the Turkish interception have come to light now. Turkey’s relations with Israel have significantly deteriorated since the October 7 attacks and the subsequent war in Gaza, which Turkish officials have vigorously opposed.

Ankara also has frosty relations with Hezbollah: they supported opposing sides in the Syrian civil war, and the militant group receives backing from Iran, one of Turkey’s major regional rivals.

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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.”

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Stars: Basel Adra, Yuval Abraham

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Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

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  • Wear hamdania for work, always wear a ghutra and agal 
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