Lebanon's Prime Minister Nawaf Salam on Tuesday expressed surprise at US special envoy Tom Barrack’s remarks, questioning the Lebanese government and army’s commitment to undertaking reforms and disarming non-state actors.
Mr Barrack has been leading a push by the Trump administration for Lebanon to disarm Hezbollah, the Iran-backed paramilitary group and political party that was greatly weakened in its latest war with Israel.
In a post on X, Mr Salam said: “I affirm that the government is committed to implementing its ministerial statement in full, particularly with regard to implementing the reforms it pledged, extending the state's authority over all its territory with its own forces, and restricting the possession of weapons to the state alone, as reflected in the Cabinet's decisions in this regard."
The Lebanese government has committed to disarming non-state groups, including Hezbollah. The army has already deployed in southern areas bordering Israel to oversee the withdrawal of Hezbollah forces and the dismantling of its military infrastructure, under the terms of a ceasefire to end the war last November.
However, Hezbollah says it will not give up its weapons as long as Israel continues to strike at targets in Lebanon it claims are linked to the group and maintains troops inside Lebanese territory, in violation of the truce.
The government this month accepted an army plan for disarming Hezbollah that did not set a firm deadline, contrary to previous calls for the process to be completed by the end of the year.
“I would say the Lebanese, and I don't mean this in a disrespectful way, all they do is talk,” Mr Barrack said in an interview with Hadley Gamble, chief international anchor at International Media Investments.
“I know this is a difficult decision. I know they don't want a civil war There's not going be a civil war. Hezbollah is at the lowest point in history that they’ve ever been. We'll help them, but if they don't want to help themselves, this President's not going to waste his time and effort,” he said of Donald Trump.
Mr Salam said he was “fully confident that the Lebanese army is fulfilling its responsibilities in protecting Lebanon's sovereignty, ensuring its stability and performing its national duties, including implementing the plan it presented to the Cabinet on September 5”.
“On this occasion, I call on the international community to intensify its support for the Lebanese army and to pressure Israel to withdraw from the territories it occupies and cease its repeated attacks, in implementation of the cessation of hostilities declaration issued in November 2024.”
Mr Salam questioned Mr Barrack’s claim that the prospect of peace in the Middle East was an “illusion”, and said his dismissal of recognition of Palestinian statehood by some UN Security Council members as unhelpful.
“There's never been peace [in the Middle East]. There will probably never be peace because everybody's fighting for legitimacy,” Mr Barrack told Ms Gamble.
Mr Salam said Lebanon had “deep belief in the possibility of achieving lasting peace in the region based on the 2002 Arab Peace Initiative, as it was founded on the principles of justice, the provision of international law and UN resolutions, and calls for empowering the Palestinian people to determine their fate, including the establishment of their independent state”.
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The Written World: How Literature Shaped History
Martin Puchner
Granta
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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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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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Company profile
Name: Back to Games and Boardgame Space
Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)
Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)
Based: Dubai and Abu Dhabi
Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)
Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space
Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The Lost Letters of William Woolf
Helen Cullen, Graydon House
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Background: Chemical Weapons
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
More on animal trafficking
