A car bomb exploded in eastern Beirut on Friday, shearing the balconies off residential buildings and sending bloodied people pouring out into the streets in the most serious blast the city has seen in years.
A car bomb exploded in eastern Beirut on Friday, shearing the balconies off residential buildings and sending bloodied people pouring out into the streets in the most serious blast the city has seen in years.
A car bomb exploded in eastern Beirut on Friday, shearing the balconies off residential buildings and sending bloodied people pouring out into the streets in the most serious blast the city has seen in years.
A car bomb exploded in eastern Beirut on Friday, shearing the balconies off residential buildings and sending bloodied people pouring out into the streets in the most serious blast the city has seen i

Assad was behind deadly Beirut blast, says Hariri


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  • Arabic

BEIRUT // A top security official with close ties to the anti-Al Assad camp in Lebanon was killed along with at least seven others yesterday in a large explosion in the Beirut neighbourhood of Achrafiyeh.

General Wissam Al Hassan, the head of the information branch of the Internal Security Forces, Lebanon’s police force, was killed by a car bomb. About 80 others were injured.

Gen Al Hassan was close to Saad Hariri, who is leader of the Lebanese opposition and hostile to the regime in Syria.

“We accuse Bashar Al Assad of the assassination of Wissam Al Hassam, the guarantor of the security of the Lebanese,” Mr Saad Hariri told a Lebanese TV station.

“Who killed Wissam Al Hassan is as clear as day. Certainly the Lebanese people will not be silent over this heinous crime and I, Saad Hariri, promise that I will not be silent,” he said.

Druze leader Walid Jumblatt, also pinned responsibility on the regime in Damascus.

“I openly accuse Bashar Al Assad and his regime of killing Wissam Al Hassan,” he said.

Gen Al Hassan was recently involved in uncovering an alleged bomb plot that led to the arrest of former information minister Michel Samaha, a Lebanese politician with ties to the Syrian regime. He had been tipped to take over as chief of the internal intelligence unit at the end of this year.p

“His killing means striking the head. The [anti-Assad] officials are all exposed now and in danger of assassination. It will be easy to assassinate them now or they will have to leave the country. He was their protector,” a Lebanese official who is close to Mr Hariri.

Gen Al Hassan also led the investigation that implicated Syria and Hizbollah in the assassination of former prime minister Rafiq Hariri, Saad’s father, who was killed in a 2005 bombing.

An international tribunal has accused four Hizbollah members of involvement in the murder, a charge the Lebanese Shiite movement denies.

There were no immediate claim of responsibility. The bombing comes during a period of particularly high tensions in Lebanon over issues including the civil war in Syria.

The Lebanese government, led by the March 8 coalition, has tried to maintain a policy it refers to as disassociation from the crisis next door, in order protect the fragile balance in the country.

Hizbollah and some of its allies have maintained support for the regime of President Bashar Al Assad during the 19-month crisis in Syria. The opposition March 14 coalition has backed the Syrian opposition.

Syria has long played a key role in Lebanon and maintained a 29-year military presence in the country until 2005.

“They warned of the implications of the Syrian crisis and here it comes,” said Nabil Boumonsef, a columnist at the Lebanese newspaper An-Nahar.

"Who did it, and why, nobody knows, but what is certain is that it cannot be isolated from what is happening in Syria. The explosion shows that Lebanon cannot be safe and peaceful in the middle of this situation boiling around it."
Syrian officials condemned the bombing.

“We condemn this terrorist explosion and all these explosions wherever they happen,” the Syrian information minister, Omran Al Zoabie, told reporters in Damascus. “Nothing justifies them.”

The bomb went off in the street where the office of the anti-Al Assad Christian Phalange Party is located. Sami Gemayel, a leader of the Lebanese Phalange party and a staunch opponent of the Al Assad regime, spoke out shortly after the attack.

“Let the state protect the citizens. We will not accept any procrastination in this matter, we cannot continue like that. We have been warning for a year. Enough,” said Mr Gemayel, whose brother was assassinated in November 2006.

Many expressed hope that the bombing would not mark the start of further such attacks. Lebanon witnessed a series of assassinations from 2005, with the last targeted killing in Beirut in 2008, according to The Daily Star newspaper.

There were reports of Sunni protesters blocking roads in the capital following news of the bombing, which took place yesterday afternoon on a street just off bustling Sassine Square in a predominantly Christian neighbourhood of east Beirut. There were also reports of protests against the bombing in Sidon, a city about 40 kilometres south of the capital.

The impact of the blast left a large crater on the road, where a mangled car and other badly damaged vehicles were parked.

The bloodied wounded could be seen staggering away from the area after the explosion went off. Buildings on the street, many of them residential, were badly damaged with windows blown out and debris scattered over a large area. Hundreds of metres away, buildings were shaken by the impact of the blast, which went off around 3pm.

Lebanon’s health minister, Ali Hussein Khalil, called on all hospitals to accept the wounded from this “terrorist bombing”.

Ambulances took the injured to several hospitals, including the nearby Rizk Hospital, where a woman in her fifties, who declined to be named, was still in shock hours after the explosion.

“I was in the kitchen. The walls shook and I felt like they were going to close in on me,” she said of her home on the street where the bombing took place.

"The cupboards came crashing down. People were screaming. Even the railings were broken. It was huge."

zconstantine@thenational.ae

With additional reporting by Rima Abushakra in Beirut, Reuters, the Associated Press and Agence-France Presse

Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

The biog

Favourite hobby: taking his rescue dog, Sally, for long walks.

Favourite book: anything by Stephen King, although he said the films rarely match the quality of the books

Favourite film: The Shawshank Redemption stands out as his favourite movie, a classic King novella

Favourite music: “I have a wide and varied music taste, so it would be unfair to pick a single song from blues to rock as a favourite"

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
57%20Seconds
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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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.”

UAE currency: the story behind the money in your pockets
Company%C2%A0profile
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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