Chronic power outages in Beirut have grown significantly worse in recent weeks. AFP
Chronic power outages in Beirut have grown significantly worse in recent weeks. AFP
Chronic power outages in Beirut have grown significantly worse in recent weeks. AFP
Chronic power outages in Beirut have grown significantly worse in recent weeks. AFP


At what point will Lebanon's government see the emergency?


  • English
  • Arabic

August 19, 2021

Lebanon’s constitution allows a caretaker government to meet in emergency situations. Are we in Lebanon not in a situation of extreme emergency? All the more so as the new government might not be appointed any time soon, despite that being a precondition to the implementation of the real solution to our problems, through a rescue plan with the International Monetary Fund and the reforms necessary to obtain the help of the international community.

We have no more gasoline, no more diesel oil, no more transportation, no more imports, no more medicine, no more electricity and no more bread. Soon we will have no more water, no more food and no more internet. Is this not an extreme emergency?

One by one, pharmacies and bakeries are shutting down, hospitals and factories will close their doors. Is this not an extreme emergency?

Employees will no longer able to come to work. In a few days at most, supermarkets, restaurants and businesses will close as well. The contents of industrial freezers, including those where chickens and meat are stored, will be go bad within days. Refrigerators in homes and businesses will no longer work. Is this not an extreme emergency?

Soon we will have no more water

Animals and plants soon will no longer be available to prevent famine. Indeed, the shortage of fuel oil will prevent farmers from watering their land, and due to lack of food, farmers will no longer be able to feed their animals, which will die little by little. Is this not an extreme emergency?

This is where we are heading at the speed of light. Should we just wait until we see Lebanon destroyed and the Lebanese falling into famine? Or should we decide to convene the Council of Ministers as a matter of urgency?

One might say: “Yes, but what would be the agenda?”

Well, instead of having everyone put the blame on everyone else, we will take urgent and necessary decisions either against the Central Bank or to address the disastrous consequences of its decision – which it claims to be irrevocable – to no longer subsidise petroleum products, to reduce subsidies on medicines and to continue to subsidise wheat.

We could also decide whether to accept the real market prices of petroleum products and therefore of related services and products, such as bread and public transport or, on the contrary, ask Parliament to authorise the Central Bank to use its obligatory reserves under well-defined and limited conditions (as the Central Bank itself demands, rightly or wrongly) or even decide on a special subsidy plan for certain sectors such as hospitals, public transport, bakeries, mills, etc.

Here, it is necessary to remember that Lebanon’s Ministry of Economy and Trade had prepared, with the support of the World Bank in August 2020, a plan to subsidise families, instead of subsidising products. If the government had agreed to prepare and implement this plan on time, we would not be in such a disastrous situation, and there would not have been throughout all this time so much abuse, theft, hoarding and contraband, and we would have had about $3.5 billion more in the reserves of the Central Bank.

It is not too late.

We must act at all costs. Immediately. An open-ended and uninterrupted session of the Council of Ministers, 24 hours a day and 7 days a week, is essential. It will take the time it takes, but the looming famine must be prevented at all costs.

The%20specs%3A%20Taycan%20Turbo%20GT
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Reputation

Taylor Swift

(Big Machine Records)

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Hoopla%3Cbr%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMarch%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Jacqueline%20Perrottet%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2010%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%3Cbr%3E%3Cstrong%3EInvestment%20required%3A%3C%2Fstrong%3E%20%24500%2C000%3C%2Fp%3E%0A
Match info

UAE v Bolivia, Friday, 6.25pm, Maktoum bin Rashid Stadium, Dubai

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press

UAE currency: the story behind the money in your pockets
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

SPECS%3A%20Polestar%203
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ELong-range%20dual%20motor%20with%20400V%20battery%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E360kW%20%2F%20483bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E840Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%3C%2Fstrong%3E%20628km%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%204.7sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh360%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO

Uefa Champions League, last 16, first leg

Liverpool v Bayern Munich, midnight (Wednesday), BeIN Sports

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EEjari%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EYazeed%20Al%20Shamsi%2C%20Fahad%20Albedah%2C%20Mohammed%20Alkhelewy%20and%20Khalid%20Almunif%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EPropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%241%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ESanabil%20500%20Mena%2C%20Hambro%20Perks'%20Oryx%20Fund%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E8%3C%2Fp%3E%0A
Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.

Diriyah%20project%20at%20a%20glance
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Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

The biog

Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.

Favourite Hobby: Writing and cooking

Favourite Book: The Prophet by Gibran Khalil Gibran

If you go

Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.

Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com

A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com

RIDE%20ON
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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
SPECS
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Updated: August 19, 2021, 2:02 PM