Lebanon’s Cabinet is expected to pass an executive order next week that enshrines the state’s commitment to maintaining exclusive control of weapons nationwide, political sources told The National on Friday.
An executive order would formalise into policy what Lebanese leaders have been trying to achieve since a November ceasefire officially put an end to fighting between Israel and Lebanon’s Hezbollah party and paramilitary organisation.
The expected move follows reports that the US has ramped up pressure on Lebanon’s leaders to issue a formal cabinet decision committing to disarm Hezbollah – a position also taken by the US-backed Lebanese Forces party, a rival of Hezbollah. The LF has accused the state’s top leadership – the President, Prime Minister and Parliament Speaker – of negotiating on behalf of Lebanon without the collective input of the government.
“Our position has been very clear since the beginning,” said Ghassan Hasbani, an LF member of parliament. “We’re demanding from the government, which we’re part of, to take a collective decision to put a timeline for the implementation of removal of arms, and the dismantling of militant armed groups by the end of this year.”
But a Lebanese political source, speaking on condition of anonymity, expressed scepticism that the executive order would amount to a major political decision. “The order will probably condition disarmament on Israel’s withdrawal,” said the source.
Another political source close to the LF told The National that they were lobbying for a majority vote at the cabinet meeting. “We’re not observers or spectators. We are part of this government and we’re going to push for a decision.”
The November ceasefire, which ended 14 months of war, required Israel’s withdrawal from south Lebanon, Hezbollah’s disarmament starting with the area south of Lebanon’s Litani river, and the eventual deployment of the Lebanese army throughout the entirety of the state.
But Israel has refused to withdraw from five Lebanese points of territory it occupied during the war and continues to attack Lebanon almost daily, while Hezbollah has conditioned its disarmament on Israel’s withdrawal – putting Lebanon’s leaders in a difficult position.
Next week’s cabinet meeting to enshrine the state’s monopoly on arms follows a forceful speech from President Joseph Aoun, the former army chief, in which he made explicit mention of Hezbollah’s arsenal for the first time.
Mr Aoun reiterated Lebanon’s commitment to reclaiming weapons from all paramilitary groups, “including those of Hezbollah”.
The President’s speech was also an indirect response to Hezbollah chief Naim Qassem, who earlier this week accused the US and Israel of employing “intimidation and threats”, and said the November ceasefire was meant “exclusively for the south Litani area” and not the whole of Lebanon.
“Anyone calling today for the surrender of weapons, whether internally or externally, on the Arab or the international stage, is serving the Israeli project,” Mr Qassem said on Wednesday.
Hezbollah is believed to still have a superior military capability to the Lebanese army, despite suffering major losses in its leadership and arsenal during its war with Israel, which began on October 8, 2023, in support of its ally Hamas in the Gaza strip.
The group – along with its allies – also form a political bloc that wields the power to paralyse parliamentary endeavours.
“We’re hoping that after what we heard from the President, this can be translated into a government decision to give clear orders to the Lebanese Armed Forces to put out a plan with a timeline to start its execution,” Mr Hasbani told The National.
“There will be some kind of executive order coming out on Tuesday, but it’s one thing to say we want it to happen as a prerequisite, and another for it to actually be implemented.
“This way it becomes an official government position rather than the political views of the political leaders.”
Hezbollah has publicly remained staunch in its demand that Israel withdraw from Lebanese territory and cease its attacks before it will disarm, but it has thus far refrained from responding to Israeli attacks.
Another political source close to the Lebanese Forces said that passing executive order would be “just another attempt to move forward on paper”.
“Israel’s presence in Lebanon suits both Hezbollah and Israel. Israel won’t leave unless Hezbollah disarms and Hezbollah won’t disarm unless Israel withdraws. They’re both buying and selling time.”
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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.”
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
'The Coddling of the American Mind: How Good Intentions and Bad Ideas are Setting up a Generation for Failure'
Greg Lukianoff and Jonathan Haidt, Penguin Randomhouse
UAE currency: the story behind the money in your pockets
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S23%20ULTRA
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.