President-elect Joe Biden smiles as he speaks at The Queen theater in Wilmington, Delaware. AP Photo
President-elect Joe Biden smiles as he speaks at The Queen theater in Wilmington, Delaware. AP Photo
President-elect Joe Biden smiles as he speaks at The Queen theater in Wilmington, Delaware. AP Photo
President-elect Joe Biden smiles as he speaks at The Queen theater in Wilmington, Delaware. AP Photo

After Biden’s win, all eyes in Lebanon turn towards Iran


Sunniva Rose
  • English
  • Arabic

Lebanon has been anxiously watching the US presidential race after four years of increasingly crushing sanctions against Hezbollah and its allies.

But the effect of Joe Biden's victory on the small Mediterranean country will only be clear once the new president-elect takes a clear stance on Iran, analysts told The National.

“Look at Iran and the rest will follow,” said Joseph Bahout, director of the Issam Fares institute at the American University of Beirut.

The effect of Mr Biden’s presidency on Lebanon will be a “biproduct of what happens between the new administration and Iran", Mr Bahout said.

Mr Biden is widely expected to try to revive the nuclear deal struck between Iran and world powers in 2015, and abandoned three years later by Mr Trump, who imposed crippling sanctions on Tehran.

Reopening talks with Iran would also probably loosen the noose around Iran's main ally in Lebanon, Hezbollah, which the US considers to be a terrorist organisation.

“It’s a trickle-down mechanism. It’s too early to talk about a change in position or posture,” Mr Bahout said.

Mr Trump’s administration also increased sanctions against Hezbollah’s allies in Lebanon, last week hitting the country’s most powerful Christian leader, Gebran Bassil, for corruption.

  • A supporter of Lebanon's Hezbollah gestures as he holds a Hezbollah flag in Marjayoun, Lebanon May 7, 2018. Reuters
    A supporter of Lebanon's Hezbollah gestures as he holds a Hezbollah flag in Marjayoun, Lebanon May 7, 2018. Reuters
  • In 2019, Israel said this was a Hezbollah-dug tunnel under the "blue line", a demarcation line drawn by the UN to mark Israel's withdrawal from southern Lebanon in 2000. AFP
    In 2019, Israel said this was a Hezbollah-dug tunnel under the "blue line", a demarcation line drawn by the UN to mark Israel's withdrawal from southern Lebanon in 2000. AFP
  • Lebanon's Hezbollah members hold party flags as they listen to their leader Sayyed Hassan Nasrallah. Reuters
    Lebanon's Hezbollah members hold party flags as they listen to their leader Sayyed Hassan Nasrallah. Reuters
  • A banner depicting Hezbollah leader Sayyed Hassan Nasrallah and an United Nation's post in Lebanon. Reuters
    A banner depicting Hezbollah leader Sayyed Hassan Nasrallah and an United Nation's post in Lebanon. Reuters
  • Hezbollah leader Hassan Nasrallah has direct ties with Iran's supreme leader Ayatollah Ali Khamenei. Reuters
    Hezbollah leader Hassan Nasrallah has direct ties with Iran's supreme leader Ayatollah Ali Khamenei. Reuters
  • The Israeli military claimed that Hezbollah, with Iranian assistance, had been bringing specialised equipment to a weapons factory in southern Lebanon. Screengrab/YouTube
    The Israeli military claimed that Hezbollah, with Iranian assistance, had been bringing specialised equipment to a weapons factory in southern Lebanon. Screengrab/YouTube
  • Lebanon's Hezbollah deputy leader Sheikh Naim Qassem gestures as he speaks during an interview with Reuters in Beirut, Lebanon March 15, 2018. Reuters
    Lebanon's Hezbollah deputy leader Sheikh Naim Qassem gestures as he speaks during an interview with Reuters in Beirut, Lebanon March 15, 2018. Reuters
  • Hezbollah fighters put Lebanese and Hezbollah flags at Juroud Arsal, Syria-Lebanon border, July 25, 2017. Reuters
    Hezbollah fighters put Lebanese and Hezbollah flags at Juroud Arsal, Syria-Lebanon border, July 25, 2017. Reuters
  • Lebanese soldiers try to block Hezbollah supporters as they gesture and chant slogans against anti-government demonstrators, in Beirut. Reuters
    Lebanese soldiers try to block Hezbollah supporters as they gesture and chant slogans against anti-government demonstrators, in Beirut. Reuters
  • A Hezbollah supporter holds a placard of its leader Hassan Nasrallah, during a protest against the US in Beirut. AP Photo
    A Hezbollah supporter holds a placard of its leader Hassan Nasrallah, during a protest against the US in Beirut. AP Photo
  • Lebanese soldiers on patrol drive by UN vehicles on the border with Israel on July 28, 2020. AP
    Lebanese soldiers on patrol drive by UN vehicles on the border with Israel on July 28, 2020. AP
  • A Lebanese police officer gesturing on the site of an explosion in Beirut that killed ex-premier Rafik Hariri in 2005. AFP
    A Lebanese police officer gesturing on the site of an explosion in Beirut that killed ex-premier Rafik Hariri in 2005. AFP
  • Israeli soldiers monitor the country's border with Lebanon near the northern town of Metula, in July 14, 2020. AFP
    Israeli soldiers monitor the country's border with Lebanon near the northern town of Metula, in July 14, 2020. AFP
  • In this file photo obtained on July 29, 2011 from the Special Tribunal for Lebanon shows a combo of pictures showing four Hezbollah suspects indicted in the assassination case of former Lebanese prime minister Rafiq Hariri. AFP
    In this file photo obtained on July 29, 2011 from the Special Tribunal for Lebanon shows a combo of pictures showing four Hezbollah suspects indicted in the assassination case of former Lebanese prime minister Rafiq Hariri. AFP
  • A car drives past a poster depicting Lebanon's Hezbollah leader Sayyed Hassan Nasrallah in Adaisseh village, near the Lebanese-Israeli border, Lebanon July 28, 2020. REUTERS/Aziz Taher
    A car drives past a poster depicting Lebanon's Hezbollah leader Sayyed Hassan Nasrallah in Adaisseh village, near the Lebanese-Israeli border, Lebanon July 28, 2020. REUTERS/Aziz Taher

Mr Bassil reacted with an angry speech on Sunday, denying the charges and arguing that America’s attempts to weaken his political party, the Free Patriotic Movement, will “force [Hezbollah] to defend itself, and it will win.”

He warned of sectarian strife between Sunni and Shiite Muslims and Christians.

Mr Bassil also set out new demands for the Cabinet formation, which will probably slow down attempts by Prime Minister-designate Saad Hariri.

Mr Hariri was appointed on October 22 and faces the daunting task of tackling Lebanon’s ever-worsening economic and financial crisis, which has pushed more than half of the country's population into poverty.

It remains unlikely that Mr Biden will withdraw sanctions on Lebanese political figures such as Mr Bassil.

“They are irreversible,” Mr Bahout said. “This is why the Trump administration was in a hurry to take them, because they know it’ll remain after them.”

Mr Biden’s victory was good news for most Lebanese politicians, not just Hezbollah and its allies, said Mohannad Ali, director of communications at Carnegie Middle East Centre in Beirut.

“I think that it was not just Hezbollah that wanted Biden to win," Mr Hage Ali said.

"The entire Lebanese political class, with a few exceptions, wanted Biden, because Trump’s maximum-pressure campaign wasn’t empowering anybody.

"It was more focused on destroying Hezbollah through collective punishment.

“It was inconsiderate in many ways and focused on an unattainable goal."

In Lebanon, power is shared among the country’s many religious groups.

Most of them are represented in government, pushing them to collaborate despite differences.

Hezbollah has been represented in Parliament since 1992 and in government since 2005.

US sanctions also focused on Lebanese financial institutions, forcing the closure of Jammal Trust Bank in late 2019 over claimed ties with Hezbollah.

“Sanctions became a regular event in which there were a lot of anticipation and worry about their impact,” Mr Hage Ali said.

"The US became a source of unexpected changes."

But Mr Biden, who will take office on January 20, might not have time to rekindle links with Iran before the Iranian presidential elections scheduled for June 2021.

Mr Hage Ali said that if he did not move quickly, it could mean another hardliner like former president Mahmoud Ahmadinejad takes over after eights years of the moderate Hassan Rouhani.

"This will affect the region,” he said. “I wouldn’t blame it all on the Biden administration. There was four years of Trump behind that."

MATCH INFO

France 3
Umtiti (8'), Griezmann (29' pen), Dembele (63')

Italy 1
Bonucci (36')

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

One-off T20 International: UAE v Australia

When: Monday, October 22, 2pm start

Where: Abu Dhabi Cricket, Oval 1

Tickets: Admission is free

Australia squad: Aaron Finch (captain), Mitch Marsh, Alex Carey, Ashton Agar, Nathan Coulter-Nile, Chris Lynn, Nathan Lyon, Glenn Maxwell, Ben McDermott, Darcy Short, Billy Stanlake, Mitchell Starc, Andrew Tye, Adam Zampa, Peter Siddle

WHAT%20START-UPS%20IS%20VISA%20SEEKING%3F
%3Cp%3E%3Cstrong%3EEnablers%20of%20digital%20services%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Blockchain%20and%20cryptocurrency%3Cbr%3E%E2%80%A2%20Crowdfunding%3Cbr%3E%E2%80%A2%20Banking-as-a-service%3Cbr%3E%E2%80%A2%20Banking%20identification%20number%20sponsors%3Cbr%3E%E2%80%A2%20Issuers%2Fprocessors%3Cbr%3E%E2%80%A2%20Programme%20managers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDigital%20issuance%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Blockchain%20and%20cryptocurrency%3Cbr%3E%E2%80%A2%20Alternative%20lending%3Cbr%3E%E2%80%A2%20Personal%20financial%20management%3Cbr%3E%E2%80%A2%20Money%20transfer%20and%20remittance%3Cbr%3E%E2%80%A2%20Digital%20banking%20(neo%20banks)%3Cbr%3E%E2%80%A2%20Digital%20wallets%2C%20peer-to-peer%20and%20transfers%3Cbr%3E%E2%80%A2%20Employee%20benefits%3Cbr%3E%E2%80%A2%20Payables%3Cbr%3E%E2%80%A2%20Corporate%20cards%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EValue-add%20for%20merchants%2Fconsumers%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Data%20and%20analytics%3Cbr%3E%E2%80%A2%20ID%2C%20authentication%20and%20security%3Cbr%3E%E2%80%A2%20Insurance%20technology%3Cbr%3E%E2%80%A2%20Loyalty%3Cbr%3E%E2%80%A2%20Merchant%20services%20and%20tools%3Cbr%3E%E2%80%A2%20Process%20and%20payment%20infrastructure%3Cbr%3E%E2%80%A2%20Retail%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESME%20recovery%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Money%20movement%3Cbr%3E%E2%80%A2%20Acceptance%3Cbr%3E%E2%80%A2%20Risk%20management%3Cbr%3E%E2%80%A2%20Brand%20management%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENew%20categories%20for%202023%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Sustainable%20FinTechs%3Cbr%3E%E2%80%A2%20Risk%3Cbr%3E%E2%80%A2%20Urban%20mobility%3C%2Fp%3E%0A

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

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

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20101hp%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20135Nm%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%20Six-speed%20auto%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh79%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Sideup%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202019%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Waleed%20Rashed%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%2C%20Egypt%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%2C%20e-commerce%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%241.2%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Launch%20Africa%20VC%2C%20500%20Global%2C%20Riyadh%20Angels%2C%20Alex%20Angels%2C%20Al%20Tuwaijri%20Fund%20and%20Saudi%20angel%20investor%20Faisal%20Al%20Abdulsalam%3C%2Fp%3E%0A
Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

Dengue%20fever%20symptoms
%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

Stan%20Lee
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20David%20Gelb%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000