Silos in Beirut's damaged port. AP
Silos in Beirut's damaged port. AP
Silos in Beirut's damaged port. AP
Silos in Beirut's damaged port. AP


To understand Lebanon today, look at Beirut's collapsing port


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August 02, 2022

Almost two years ago, an explosion at Beirut’s port ripped through the Lebanese capital, killing more than 200 people. It was the largest non-nuclear explosion in history. It was caused by a stock of ammonium nitrate – mostly used as a fertiliser – that caught fire. In the aftermath of the explosion, it became clear that failings by senior officials, who should have known about the dangerous, large and poorly stored stockpile, paved the way for the blast.

Two years on, the twisted remains of grain silos at the port, which became a symbol of the blast, are still there, as are much of the contents they stored, now rotting. On Sunday, footage emerged online showing clouds of smoke across the port as parts of the facility fell down. They had been on fire for three weeks before their ultimate demise.

The state of the silos mirrors the wider circumstances of Lebanon today. Severe, sudden shocks might happen from time to time, but the main problem for the country is still a long-recognised and seemingly unstoppable decline. It is the result of corruption, inaction and mismanagement from political elites, as well as destabilising foreign influence.

The silos should have been torn down already, let alone rebuilt. Instead, nature is completing a dangerous job that should be the responsibility of the state, which has become ineffective through a total breakdown in governance and an absence of accountability.

The content of the silos, hazardous rotting grain, is also symbolic, this time of the critical food crisis facing the country.

As grain that could have bolstered the country’s stocks decays, Lebanese people are forced to line up for hours at bakeries that are struggling to provide enough bread. This week, The National reported from one of these queues, seeing first hand the chaos and desperation they contain.

  • The site of the August 4 explosion at Beirut port in December. Reuters
    The site of the August 4 explosion at Beirut port in December. Reuters
  • Smoke rises from the site of an explosion in Beirut's port area, Lebanon on August 4, 2020. Reuters
    Smoke rises from the site of an explosion in Beirut's port area, Lebanon on August 4, 2020. Reuters
  • Joana Dagher, 33, who lost her memory for two full months from the trauma she suffered in the massive August explosion at the Beirut port takes pictures of the explosion scene from her damaged apartment rooftop. AP
    Joana Dagher, 33, who lost her memory for two full months from the trauma she suffered in the massive August explosion at the Beirut port takes pictures of the explosion scene from her damaged apartment rooftop. AP
  • The mental health impact of the Beirut explosion that killed more than 200 and wounded more than 6,000 continues to lay its heavy weight on those who managed to survive the day. AP
    The mental health impact of the Beirut explosion that killed more than 200 and wounded more than 6,000 continues to lay its heavy weight on those who managed to survive the day. AP
  • A general view shows damage at the site of the blast in Beirut's port area, Lebanon. Reuters
    A general view shows damage at the site of the blast in Beirut's port area, Lebanon. Reuters
  • A drone picture shows the destruction after the explosion in the seaport of Beirut, Lebanon. AP
    A drone picture shows the destruction after the explosion in the seaport of Beirut, Lebanon. AP

Fights have broken out at them, understandable amid the heat and anger. But there are also plenty of examples of unacceptable behaviour. Authorities are known to have created separate queues for Lebanese nationals and non-nationals, particularly Syrians. Lines for the former often move quicker. One Lebanese man asked: “Now they’re checking people’s ID cards, aren’t people ashamed of themselves? Lebanese here and Syrians there, what kind of thinking is this? What era are we in?”

There have been some positive developments regarding the food crisis. A cargo ship carrying 26,000 tonnes of Ukrainian corn left Odesa early on Monday, and is due to arrive in Lebanon. A further 16 ships are expected to be in order to help ease global supply fears. They are the result of a recent deal struck between Ukraine and Russia with mediation from the UN and Turkey to allow for the export of Ukrainian food through a key Black Sea trade route. It is critical, and far from certain, that this arrangement is kept, not just for the sake of Lebanon, but for the wider world, particularly in countries whose food security is most at risk.

It might bring some respite for Lebanese people, but only in a situation that should never have been allowed to manifest. Fundamentally, as the two-year anniversary of the Beirut blast approaches, none of the governance issues that led to that failure have changed. Indeed, the situation has got worse.

At the last anniversary, The National observed that many more would have to pass before Lebanon and, crucially, the families of victims would have the transparency, justice and answers that they deserve. In 2022, not only does this remain the case, but new crises are emerging, too.

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 178hp at 5,500rpm

Torque: 280Nm at 1,350-4,200rpm

Transmission: seven-speed dual-clutch auto

Price: from Dh209,000 

On sale: now

Switching%20sides
%3Cp%3EMahika%20Gaur%20is%20the%20latest%20Dubai-raised%20athlete%20to%20attain%20top%20honours%20with%20another%20country.%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVelimir%20Stjepanovic%20(Serbia%2C%20swimming)%20%3C%2Fstrong%3E%0D%3Cbr%3EBorn%20in%20Abu%20Dhabi%20and%20raised%20in%20Dubai%2C%20he%20finished%20sixth%20in%20the%20final%20of%20the%202012%20Olympic%20Games%20in%20London%20in%20the%20200m%20butterfly%20final.%20%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJonny%20Macdonald%20(Scotland%2C%20rugby%20union)%20%3C%2Fstrong%3E%0D%3Cbr%3EBrought%20up%20in%20Abu%20Dhabi%20and%20represented%20the%20region%20in%20international%20rugby.%20When%20the%20Arabian%20Gulf%20team%20was%20broken%20up%20into%20its%20constituent%20nations%2C%20he%20opted%20to%20play%20for%20Scotland%20instead%2C%20and%20went%20to%20the%20Hong%20Kong%20Sevens.%20%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESophie%20Shams%20(England%2C%20rugby%20union)%20%3C%2Fstrong%3E%0D%3Cbr%3EThe%20daughter%20of%20an%20English%20mother%20and%20Emirati%20father%2C%20Shams%20excelled%20at%20rugby%20in%20Dubai%2C%20then%20after%20attending%20university%20in%20the%20UK%20played%20for%20England%20at%20sevens.%20%0D%3C%2Fp%3E%0A
ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Brief scoreline:

Liverpool 2

Keita 5', Firmino 26'

Porto 0

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.”

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Updated: August 02, 2022, 11:21 AM