Iran's Foreign Minister Abbas Araghchi prays at the grave of Hezbollah leader Hassan Nasrallah in Beirut, on June 3. AFP
Iran's Foreign Minister Abbas Araghchi prays at the grave of Hezbollah leader Hassan Nasrallah in Beirut, on June 3. AFP
Iran's Foreign Minister Abbas Araghchi prays at the grave of Hezbollah leader Hassan Nasrallah in Beirut, on June 3. AFP
Iran's Foreign Minister Abbas Araghchi prays at the grave of Hezbollah leader Hassan Nasrallah in Beirut, on June 3. AFP

Hezbollah assured Lebanese officials it won’t join Iran’s retaliation, security sources say


Mohamad Ali Harisi
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Live updates: Follow the latest on Israel-Iran conflict

Lebanese officials have urged Hezbollah not to join Iran’s response to Israeli attacks and the group has assured them it will not take part, security sources told The National on Saturday.

“Officials moved quickly to urge Hezbollah not to drag Lebanon into another war, and the group has given reassurances that it has no intention of doing so,” one of the Lebanese sources said.

Israel’s deadly strike on Iran on Friday wiped out much of Tehran’s military and nuclear leadership. A broader regional offensive by Israel over the past two years has severely weakened Iranian proxies across the region, leaving Hezbollah unable to come to its sponsor’s aid.

Still, there is concern within security circles in Lebanon over one specific factor: Hezbollah’s arsenal of strategic, long-range precision missiles.

“We know those important missiles can only be launched on orders from Iran,” the source said. “The problem is, we don’t know whether they still exist or if they were destroyed by Israel. And if they do still exist, there’s a worry they could eventually be used and lead to a new devastating war with Israel.”

A second security source confirmed that the state had formally requested Hezbollah not to interfere, and the group responded positively.

“Many people have fled southern Lebanon and Hezbollah-controlled areas in Beirut out of fear of Israeli strikes and a wider escalation despite the assurances,” the source added.

Israel’s offensive against Hezbollah, which escalated in September 2024, took out most of the group’s leaders and destroyed most of its arsenal. By Israeli and US intelligence estimates, around 70 per cent of Hezbollah’s military capabilities have been destroyed.

Even if Hezbollah were in a position to attack, its main supply route by land through Syria was cut when its ally, Bashar Al Assad, was deposed last December by rebels who Hezbollah itself had spent years fighting. This means the group would have difficulty replenishing the limited stores that remain.

Lebanese leaders and western diplomats are aware that Lebanon’s relative stability is hanging in the balance. The US and France scrambled to reach a shaky, if uneven, ceasefire in Lebanon. But the ceasefire, and Hezbollah’s defeat, has led to a de facto political reality: Israel can strike at will in Lebanon, but Hezbollah – and Lebanon – would be severely punished for attacking or retaliating.

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With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds.  Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.

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Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

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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.”

Day 2, stumps

Pakistan 482

Australia 30/0 (13 ov)

Australia trail by 452 runs with 10 wickets remaining in the innings

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Updated: June 18, 2025, 11:41 AM