The pressure has been on Lebanese Parliament Speaker Nabih Berri to convene a presidential election session and hold successive rounds of voting until a candidate wins. Reuters
The pressure has been on Lebanese Parliament Speaker Nabih Berri to convene a presidential election session and hold successive rounds of voting until a candidate wins. Reuters
The pressure has been on Lebanese Parliament Speaker Nabih Berri to convene a presidential election session and hold successive rounds of voting until a candidate wins. Reuters
The pressure has been on Lebanese Parliament Speaker Nabih Berri to convene a presidential election session and hold successive rounds of voting until a candidate wins. Reuters


Lebanon would not benefit if the US sanctioned Speaker Nabih Berri


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October 22, 2024

Israel’s assassination of Hezbollah secretary general Hassan Nasrallah and its apparent subsequent elimination of his likely successor, Hashem Safieddine, has left a vacuum in the group’s political leadership. This creates considerable space for the senior Shiite politician in Lebanon’s governing structure, Nabih Berri, the Speaker of Parliament.

For years, Mr Berri has represented a facade for Hezbollah in the Lebanese state. A highly influential politician, he has also benefited by being the main intermediary with the group, which dominated the political system. In a recent speech, Naim Qassem, Nasrallah’s deputy, described Mr Berri as Hezbollah’s “big brother”. But that praise hid a warning to the Speaker: don’t transgress Hezbollah’s red lines, or else.

There have been reports recently that the administration of US President Joe Biden is trying to push Lebanon’s political class to bring in a new president. Since Parliament elects presidents in the country, the pressure has been on Mr Berri to convene a session for a vote and hold successive rounds of voting until a candidate wins. According to media reports, Washington would like to see the army commander, Joseph Aoun, elected.

Some influential American voices on the Middle East, such as Robert Satloff of the Washington Institute, have mentioned that there is talk in the US capital of sanctioning Mr Berri if he refuses to hold such a parliamentary session. It is doubtful, however, that the Biden administration would do such a thing, as it would only further block the political system in Lebanon and achieve nothing.

According to media reports, Washington would like to see the army commander, Joseph Aoun, elected. AFP
According to media reports, Washington would like to see the army commander, Joseph Aoun, elected. AFP
For many Lebanese, Berri embodies everything that’s wrong about Lebanon’s political class. It’s also true that he is a pragmatist

Understandably, Mr Berri has resisted holding an election, arguing that for this to happen, a consensus must exist around a candidate. He knows that Hezbollah would view a forced election as an American, and Israeli, effort to exploit its vulnerabilities today to impose on it a candidate it does not want. Mr Berri will not isolate himself within his own community on behalf of the Biden administration.

For many Lebanese, Mr Berri embodies everything that’s wrong about Lebanon’s political class. He has been in office since 1992, is regarded by many people as lacking ethics, and was a main defender of the corrupt structure that led to the financial collapse of 2020, depriving millions of Lebanese of their savings. This is undeniable.

Yet it’s also true that Mr Berri is a pragmatist. As he watches the ruin of particularly the Shiite community, because of Israeli bombing, he must surely be thinking of what this means for him and his authority. Though he is 86, the Speaker still clings to power and probably realises that the weakening of his community will necessarily make him weaker. Therefore, he has a vested interest in reaching compromises that can avert such an outcome.

Mr Berri sits at the intersection of the two logics that have prevailed in Lebanon since Hezbollah opened a front with Israel on October 8 of last year, and which escalated dramatically last month. On the one side is a logic of resistance, represented by Hezbollah, which has sustained the conflict with Israel, purportedly in support of Gaza.

On the other is a logic of the state, whereby many Lebanese feel that their country should no longer be carried into war by an armed non-state actor loyal to Iran, which has never bothered to consult the country’s government. They believe that the state must re-assert itself, as must the one institution that retains national credibility, namely the army.

When it comes to the presidency, the logic of resistance points in the direction of Suleiman Frangieh, whom Hezbollah endorsed as its candidate, supposedly because he was the person best able to “defend the resistance”. The logic of the state, in contrast, leads to Gen Aoun, because the armed forces will not only play a central role in any post-war order, but also in maintaining internal security, as the country struggles with how to care for more than 1.2 million angry, dislocated and humiliated Lebanese.

Mr Berri, as head of the last functioning governing institution in the state (the presidency is vacant and the cabinet is ruling in a caretaker capacity), will be essential in shaping which candidate prevails – or more likely what kind of compromise will be reached around a candidate. He will also play a key role in persuading Hezbollah to rally to any accord, even if he will probably have to deal with a party doubly suspicious and intransigent.

One potential direction he may explore with other members of the political leadership is to propose a dialogue to discuss a national defence strategy for Lebanon. Such a strategy has been a code word in the past to integrate Hezbollah’s weapons into the state. Hezbollah has refused to engage in any such discussion, but with many Lebanese deeply hostile to the group’s military autonomy, which dangerously isolates Hezbollah, and the Shiite community devastated, it may be more willing to talk.

There is also another major problem. Mainly Shiite-majority towns, villages and neighbourhoods have been destroyed across Lebanon. To rebuild them and avoid a backlash from its own community, Hezbollah will need assistance from the state, which alone can bring in the funds necessary for reconstruction. That means the group and the state will have to negotiate, which may compel Hezbollah to water down its refusal to compromise.

Mr Berri will be at the heart of this maelstrom, and he will try to widen his margin of manoeuvre with respect to Hezbollah, while preserving his power in the Shiite community and the leverage this gives him. Such calculations suggest he will be a dominant actor in the months ahead, if his health holds out. The only unknown is whether Iran, which today is said to have filled the leadership vacuum in Hezbollah, will go along with the Speaker.

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

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Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

The biog

Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."

Favourite author: Malcom Gladwell 

Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

MATCH INFO

Champions League quarter-final, first leg

Manchester United v Barcelona, Wednesday, 11pm (UAE)

Match on BeIN Sports

At a glance - Zayed Sustainability Prize 2020

Launched: 2008

Categories: Health, energy, water, food, global high schools

Prize: Dh2.2 million (Dh360,000 for global high schools category)

Winners’ announcement: Monday, January 13

 

Impact in numbers

335 million people positively impacted by projects

430,000 jobs created

10 million people given access to clean and affordable drinking water

50 million homes powered by renewable energy

6.5 billion litres of water saved

26 million school children given solar lighting

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

England's lowest Test innings

- 45 v Australia in Sydney, January 28, 1887

- 46 v West Indies in Port of Spain, March 25, 1994

- 51 v West Indies in Kingston, February 4, 2009

- 52 v Australia at The Oval, August 14, 1948

- 53 v Australia at Lord's, July 16, 1888

- 58 v New Zealand in Auckland, March 22, 2018

Series information

Pakistan v Dubai

First Test, Dubai International Stadium

Sun Oct 6 to Thu Oct 11

Second Test, Zayed Stadium, Abu Dhabi

Tue Oct 16 to Sat Oct 20          

 Play starts at 10am each day

 

Teams

 Pakistan

1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza

 Australia

1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland

Rajasthan Royals 153-5 (17.5 ov)
Delhi Daredevils 60-4 (6 ov)

Rajasthan won by 10 runs (D/L method)

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.”

The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

UAE currency: the story behind the money in your pockets

Personalities on the Plate: The Lives and Minds of Animals We Eat

Barbara J King, University of Chicago Press 

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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

The specs: 2019 Audi A7 Sportback

Price, base: Dh315,000

Engine: 3.0-litre V6

Transmission: Seven-speed automatic

Power: 335hp @ 5,000rpm

Torque: 500Nm @ 1,370rpm

Fuel economy 5.9L / 100km

Roger Federer's 2018 record

Australian Open Champion

Rotterdam Champion

Indian Wells Runner-up

Miami Second round

Stuttgart Champion

Halle Runner-up

Wimbledon Quarter-finals

Cincinnati Runner-up

US Open Fourth round

Shanghai Semi-finals

Basel Champion

Paris Masters Semi-finals

 

 

Results:

CSIL 2-star 145cm One Round with Jump-Off

1.           Alice Debany Clero (USA) on Amareusa S 38.83 seconds

2.           Anikka Sande (NOR) For Cash 2 39.09

3.           Georgia Tame (GBR) Cash Up 39.42

4.           Nadia Taryam (UAE) Askaria 3 39.63

5.           Miriam Schneider (GER) Fidelius G 47.74

Scoreline:

Manchester City 1

Jesus 4'

Brighton 0

The biog

Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
 

South Africa World Cup squad

South Africa: Faf du Plessis (c), Hashim Amla, Quinton de Kock (w), JP Duminy, Imran Tahir, Aiden Markram, David Miller, Lungi Ngidi, Anrich Nortje, Andile Phehlukwayo, Dwaine Pretorius, Kagiso Rabada, Tabraiz Shamsi, Dale Steyn, Rassie van der Dussen.

Updated: October 23, 2024, 1:13 PM