It's a home win as Lebanon goes to the polls



People are driving around Beirut like madmen on mopeds and motorbikes, a van with a sound system fit for a concert blares out national songs and up and down the city car horns are honking, fireworks exploding and gunshots are being fired into the air: you'd think Lebanon had won a soccer match. But this was Sunday and the uproar was marking the end of a much more crucial fixture, the country's stressful election, which saw March 14th emerge as the winning bloc, perhaps setting Saad, the son of assassinated prime minister Rafik Hariri, on course to be the next prime minister.

I was in the capital helping to cover the parliamentary elections and spent a good chunk of my time on the street talking to international observers and Lebanese voters. The first stop was Achrafiyeh, a Christian quarter of Beirut, where locals came to vote at a primary school. In the building, people hurriedly buzzed around looking for the room where they were supposed to cast their ballots. Women in tank tops and shorts, teased hair and painted nails, passed by men dressed in red March 14th T-shirts or orange March 8th hats. Large gold crosses decorated their necks and French could be heard in every corner.

There was a sense of celebration, as family and friends met each other in the polling centre and kissed cheeks in greeting, helping each other find their particular poll booths. The press were crawling in every inch of the school - I recognised the Al-Arabeya TV journalist, the BBC correspondent, the CNN guy. Jimmy Carter, the former US president, dressed in gear fit for a hiking trip, appeared with his observers and gave interviews to all of us.

Later in the afternoon, I went to the Burj Brajne neighbourhood in south Beirut. This was an area targeted by Israel during the war in 2006 which houses many of Hizbollah's supporters. The neighbourhood was also visibly poorer with bullet-ridden buildings and shabbier-clothed locals. There was a poorly constructed Palestinian refugee camp inside it. With large yellow flags flying on the bridges over the highway leading to the neighbourhood, you knew you were entering Hizbollah territory. At the school acting as a polling centre, voters were greeted by soldiers checking ID and people dressed in yellow or draped in Hizbollah flags. It didn't take a genius to know who the majority of people here were voting for. Women and men lined up outside the polling station for hours. One old man who couldn't walk was carried through the doors in a plastic chair by two young men. A woman fainted in the corner because of the heat and was taken away on a stretcher. A Hizbollah MP received applause and cheers as he walked in to see how things were going at the centre. He refused to talk to the press, saying he didn't want to "break the law", referring to the ban on campaigning on the day of the elections.

Lebanese politics are incredibly complicated, with coalitions and politicians changing alliances and threats constantly. But one thing was clear - with a bitter history of street violence, assassinations and wars in the country, the tension in the air was very thick and everyone in the country held their breaths waiting for something to happen. Observers with the Lebanese Transparency Association said it definitely documented fighting, harassment and vote-buying but, by and large, Lebanon surprised everyone.

Compared to elections in the rest of the Middle East, international observers felt they were organised and well-managed, with some changes that needed to be made to meet international standards. However, they all agreed the results reflected the will of the people. And many people I spoke to on the streets over the next couple of days said they felt pride that Lebanon was able to have such a smooth and safe election. One man in Achrafiyeh summed it up very well. When asked for his reaction to the poll said he felt like he could breathe again - that the stress that was looming over his and his friends' and family's heads could subside, at least for a little while. He added that while the Lebanese would never stop talking about politics or predicting outcomes, at least some felt a sense of accomplishment - that now they could try to move forward with hope for a stable Lebanon.

Hadeel al Shalchi is a writer for the Associated Press, based in Cairo

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Auður Ava Ólafsdóttir
Pushkin Press

Tips for holiday homeowners

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  • Quality of the operator: guest reviews, customer experience management, application of technology, average utilisation, scope of services rendered

Source: Adam Nowak, managing director of Ultimate Stay Vacation Homes Rental

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

Sarfira

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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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Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

ASHES FIXTURES

1st Test: Brisbane, Nov 23-27 
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8

Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

The years Ramadan fell in May

1987

1954

1921

1888

if you go

The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.

The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.

 

 

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Results:

Women:

1. Rhiannan Iffland (AUS) 322.95 points
2. Lysanne Richard (CAN) 285.75
3. Ellie Smart (USA) 277.70

Men:

1. Gary Hunt (GBR) 431.55
2. Constantin Popovici (ROU) 424.65
3. Oleksiy Prygorov (UKR) 392.30

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Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Feeding the thousands for iftar

Six industrial scale vats of 500litres each are used to cook the kanji or broth 

Each vat contains kanji or porridge to feed 1,000 people

The rice porridge is poured into a 500ml plastic box

350 plastic tubs are placed in one container trolley

Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

Pox that threatens the Middle East's native species

Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

Falconpox

Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.

Houbarapox

Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)


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