Hezbollah chief Naim Qassem has warned that there will be “no life” for Lebanon if authorities confront the Iran-backed movement, as tension over Beirut's plan to disarm the group escalates.
The Hezbollah secretary general accused the government of effectively handing Lebanon over to Israel by pushing for disarmament.
The Lebanese government last week adopted the objectives of a US proposal that includes the disarmament of Hezbollah, despite all Shiite ministers storming out of the cabinet meeting where the plan was being discussed.
The cabinet decision drew praise from the US, but sparked street protests in areas where Hezbollah has support.
“Are you satisfied that [Israeli Prime Minister Benjamin] Netanyahu congratulated you?” Mr Qassem said, accusing the government of following US and Israeli demands. “The government is implementing an American-Israeli order to end the resistance, even if it leads to civil war and internal strife,” Mr Qassem said.
In response, Prime Minister Nawaf Salam posted an excerpt of an interview he gave to the Asharq Al Awsat newspaper on X, in which he said Mr Qassem's comments "carry an implicit threat of civil war".
"No one in Lebanon today wants a civil war, and threatening or hinting at it is completely unacceptable," he said. "The talk that the Lebanese government is implementing an American-Israeli project is baseless," he said, insisting that decisions taken were "purely Lebanese".
"No party in Lebanon is authorised to bear arms outside the scope of the Lebanese state," he said. "No one has demanded that Hezbollah's weapons be handed over to the Israeli enemy, as some promote, but rather to the Lebanese army."
While Hezbollah has repeatedly rejected the government's plan to disarm it, Mr Qassem's speech is the strongest statement yet by the group. He called on authorities to build the country together, respecting all sects and religions. He spoke at an event to mark Arbaeen, which comes 40 days after the commemoration of Ashura.
“This is our land together, this is our homeland together, we live with pride together, and we build its sovereignty together,” he said. “Or there is no life for Lebanon if you try to confront us and eliminate us.”
He criticised the government, holding it responsible for failing to stop Israel's daily bombings of Lebanon and for not pursuing Israel over the five points of Lebanese territory it occupies.
“The resistance will not surrender its weapons while aggression continues, occupation persists, and we will fight it … if necessary to confront this American-Israeli project no matter the cost,” he said.
Hezbollah has repeatedly said it will not discuss a national defence strategy until Israel withdraws from Lebanon and ceases its bombing.
“There is still room for discussion, for adjustments, and for a political resolution before the situation escalates to a confrontation no one wants,” Mr Qassem said.
“But if it is imposed on us, we are ready.”
Mr Qassem said Hezbollah and the Amal movement, its Shiite ally, had decided to delay street protests against a US-backed disarmament plan because they still believe there is room for dialogue with the Lebanese government. But he threatened that protests could reach the US embassy in Lebanon.
The Hezbollah leader's speech was also criticised by some of the group's opponents.
“Naim Qassem's party brought occupation, humanitarian catastrophe and economic collapse to Lebanon,” said Ashraf Rifi, an MP and former interior minister. “Today, after its defeat, it threatens the Lebanese state and people, presents itself as a victim and accuses the majority of treason.”
Mr Qassem's speech follows a meeting this week with Ali Larijani, Secretary of Iran's Supreme National Security Council. He was visiting Beirut and held a number of tense meetings with Lebanese officials.
In a powerful rebuke of the group's main backer, Lebanon's President and Prime Minister told Mr Larijani of their deep dissatisfaction over Iran's criticism of plans to disarm Hezbollah.
Last week the government gave the army until the end of the month to prepare a plan to bring all weapons under state control by the end of 2025.
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Killing of Qassem Suleimani
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
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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.”
Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.
Fixtures
Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am
Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am
Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am
Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight
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
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
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IF YOU GO
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info
Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059