Lebanon's President and Prime Minister told a visiting senior Iranian official on Wednesday of their deep dissatisfaction at criticism from Tehran about plans to disarm Hezbollah, in a powerful rebuke of the group's main backer.
President Joseph Aoun told Ali Larijani, Secretary of Iran's Supreme National Security Council, that such remarks were “unhelpful” and that Lebanon “does not accept anyone interfering in its internal affairs”.
Prime Minister Nawaf Salam singled out comments by Iranian Foreign Minister Abbas Araghchi and Ali Akbar Velayati, adviser to Iran's supreme leader Ayatollah Ali Khamenei, during his meeting with Mr Larijani. Such comments marked a "blatant departure" from diplomatic norms and respect for sovereignty, he said.
Mr Larijani's visit comes a week after the Lebanese government agreed on a move to disarm Hezbollah in a historic decision.
Hezbollah, a powerful Iran-backed Shiite paramilitary force and political party, is the only non-state group to hold arms since the Lebanese civil war ended in 1990.
“The friendship we seek to establish between Lebanon and Iran must not be with one sect or one Lebanese component, but with all Lebanese,” Mr Aoun told Mr Larijani, according to statement from the presidential office and an aide to the president.
“Lebanon, which absolutely does not interfere in the affairs of any other country and respects its privacy, including Iran, does not accept anyone interfering in its internal affairs,” he said, comments echoed later by Mr Salam.
“No party, without exception, is permitted to bear arms or seek external support,” Mr Aoun said.
Mr Larijani told Mr Aoun “Iran does not wish to see any disruption to its friendship or relations with the Lebanese state and people”, the presidency statement said.
Speaking to reporters later after a meeting with Parliament Speaker Nabih Berri, Mr Larijani said Iran urged Lebanon to keep Hezbollah armed while insisting Tehran did not interfere in Lebanese internal affairs.
He described Israel as a predatory animal that Hezbollah stood up to, insisting that the only country that interfered with Lebanese affairs was the US by demanding a “timetable” for Hezbollah's disarmament.
Hezbollah was once the region's most powerful non-state armed group but has seen its power diminish after losing its top leadership and much of its arsenal during a war with Israel last year.
Mr Larijani arrived in the Lebanese capital from Baghdad, where he made his first foreign visit since being appointed to the role.
He was received at the airport by officials from Hezbollah and representatives of Mr Berri, who organised the visit. Mr Berri heads the Amal Movement, a Hezbollah ally.
“If … the Lebanese people are suffering, we in Iran will also feel this pain and we will stand by the dear people of Lebanon in all circumstances,” Mr Larijani said upon landing in Beirut.
Dozens of supporters waving Iran and Hezbollah flags gathered along the airport road to welcome Mr Larijani. He briefly stepped out of his car to greet them as they chanted slogans of support.
Mr Larijani visited Mr Berri after meeting Mr Aoun. His meeting with Mr Salam took place after a session of the Lebanese cabinet.
He later went to the tomb of Hassan Nasrallah, the former leader of Hezbollah who was assassinated by Israel last year.
“We may have lost him, but his sons, raised in his school of thought, live on," Mr Larijani said.
Mr Salam's cabinet last week agreed to end the presence of all non-state armed groups in Lebanon and endorsed the objectives of a US plan that would lead to the disarmament of Hezbollah, despite Shiite ministers walking out in protest before the vote. Authorities had earlier ordered the Lebanese army to prepare a plan – to be delivered by the end this month – to disarm Hezbollah by the year's end.
The plan has sparked fury from Hezbollah, which has said it will treat the decision as if it does not exist. Nightly protests against the move have broken out in areas with traditional Hezbollah support.
Under the US proposals, Israel would withdraw fully from Lebanon in conjunction with the disarming of Hezbollah, but there is little faith this will materialise given its conduct in Gaza, Lebanon, Syria and elsewhere. In spite of the obstacles, Mr Aoun has pledged to ensure the state will have all weapons under its control.
Multiple Iranian officials have blasted Lebanon's push to disarm Hezbollah and have said it will not take place. Mr Velayati said Tehran is “certainly opposed to the disarmament of Hezbollah”.
Lebanon's Foreign Ministry described the comments as “a flagrant and unacceptable interference in Lebanon’s internal affairs".
"This is not the first such interference. Some senior Iranian officials have repeatedly overstepped by making unwarranted statements," it said.
Foreign Minister Youssef Ragi, nominated by the anti-Hezbollah Lebanese Forces, did not appear on the agenda of Mr Larijani's visit.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
RESULTS
6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
Winner: Miller’s House, Richard Mullen (jockey), Satish Seemar (trainer).
7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
Winner: Kanood, Adrie de Vries, Fawzi Nass.
7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
Winner: Gervais, Sandro Paiva, Ali Rashid Al Raihe.
8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
Winner: Important Mission, Royston Ffrench, Salem bin Ghadayer.
8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
Winner: Firnas, Xavier Ziani, Salem bin Ghadayer.
9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
Winner: Zhou Storm, Connor Beasley, Ali Rashid Al Raihe.
BABYLON
%3Cp%3EDirector%3A%20Damien%20Chazelle%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Brad%20Pitt%2C%20Margot%20Robbie%2C%20Jean%20Smart%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Education reform in Abu Dhabi
The emirate’s public education system has been in a constant state of change since the New School Model was launched in 2010 by the Abu Dhabi Education Council. The NSM, which is also known as the Abu Dhabi School Model, transformed the public school curriculum by introducing bilingual education starting with students from grades one to five. Under this new curriculum, the children spend half the day learning in Arabic and half in English – being taught maths, science and English language by mostly Western educated, native English speakers. The NSM curriculum also moved away from rote learning and required teachers to develop a “child-centered learning environment” that promoted critical thinking and independent learning. The NSM expanded by one grade each year and by the 2017-2018 academic year, it will have reached the high school level. Major reforms to the high school curriculum were announced in 2015. The two-stream curriculum, which allowed pupils to elect to follow a science or humanities course of study, was eliminated. In its place was a singular curriculum in which stem -- science, technology, engineering and maths – accounted for at least 50 per cent of all subjects. In 2016, Adec announced additional changes, including the introduction of two levels of maths and physics – advanced or general – to pupils in Grade 10, and a new core subject, career guidance, for grades 10 to 12; and a digital technology and innovation course for Grade 9. Next year, the focus will be on launching a new moral education subject to teach pupils from grades 1 to 9 character and morality, civic studies, cultural studies and the individual and the community.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Take Me Apart
Kelela
(Warp)
UAE WARRIORS RESULTS
Featherweight
Azouz Anwar (EGY) beat Marcelo Pontes (BRA)
TKO round 2
Catchweight 90kg
Moustafa Rashid Nada (KSA) beat Imad Al Howayeck (LEB)
Split points decision
Welterweight
Gimbat Ismailov (RUS) beat Mohammed Al Khatib (JOR)
TKO round 1
Flyweight (women)
Lucie Bertaud (FRA) beat Kelig Pinson (BEL)
Unanimous points decision
Lightweight
Alexandru Chitoran (ROU) beat Regelo Enumerables Jr (PHI)
TKO round 1
Catchweight 100kg
Marc Vleiger (NED) beat Mohamed Ali (EGY)
Rear neck choke round 1
Featherweight
James Bishop (NZ) beat Mark Valerio (PHI)
TKO round 2
Welterweight
Abdelghani Saber (EGY) beat Gerson Carvalho (BRA)
TKO round 1
Middleweight
Bakhtiyar Abbasov (AZE) beat Igor Litoshik (BLR)
Unanimous points decision
Bantamweight
Fabio Mello (BRA) beat Mark Alcoba (PHI)
Unanimous points decision
Welterweight
Ahmed Labban (LEB) v Magomedsultan Magomedsultanov (RUS)
TKO round 1
Bantamweight
Trent Girdham (AUS) beat Jayson Margallo (PHI)
TKO round 3
Lightweight
Usman Nurmagomedov (RUS) beat Roman Golovinov (UKR)
TKO round 1
Middleweight
Tarek Suleiman (SYR) beat Steve Kennedy (AUS)
Submission round 2
Lightweight
Dan Moret (USA) v Anton Kuivanen (FIN)
TKO round 2
