Days after Lebanon was hit by severe flooding, the aftermath is hitting residents of one Beirut suburb hard. Amal, who runs a small furniture shop, was clearing out sodden stock on Tuesday morning after spending the morning cleaning.
“It’s all destroyed, we cannot sell anything,” she said.
Water reached levels of up to 1.2 metres in the neighbourhood of Sultan Ibrahim in the suburb of Jnah, South of Beirut, locals said.
Pictures of a man kayaking down the road between submerged cars went viral online on Monday, his preparedness a symbol of the inability of the Lebanese state to cater to its citizens minimum needs nearly three decades since the end of a bloody, 15-year long civil war.
The area floods every year but this time, the downpours coincided with mass anti-government protests, political paralysis and a financial crisis.
“Who will compensate us for our losses?” complained Amal, who asked for her name to be changed.
One of the poorest areas of Beirut located just a few hundred metres away from the Mediterranean Sea, Jnah is heavily controlled by Lebanon’s powerful Shiite party, Hezbollah and its local ally Amal
Officials have responded to the flooding as is expected by Lebanon’s citizens after major incidents. They blamed each other.
On Monday, the Ghobeiry municipality, which covers Jnah, said in a statement that it was not charged with upkeeping roads.
In a press conference, caretaker Minister of Public Works Youssef Fenianos said he accepted “full responsibility” for the floods, while at the same time pointing ou that his ministry was not receiving enough money to do its job because of the ongoing financial crisis. He also blamed a private company for a tunnel flooding near Beirut airport.
On Tuesday afternoon, the Parliament’s Public Works and Transport Committee held an emergency meeting in response. Its chair, MP Nazih Najem, promised that those responsible for the flooding would be prosecuted, "whether big or small".
But back in Jnah, locals were not convinced.
“It’s been like that for every year since I moved here in 1975,” said 58-year old Khaldeh Zein, the owner of a scrap metal shop. "It rains for five minutes and it floods. The area is low, close to the sea and water gathers here from neighbouring areas," he said.
He said that the protests that started on October 17 gave him no reason for optimism.
Sparked by a suggested tax increase, the protests rapidly morphed into a rejection of Lebanese politicians, accused of corruption and mismanagement, pushing Prime Minister Saad Hariri to resign on October 29. The country has been without a government ever since, despite the worsening economic crisis.
“The revolution cannot change anything. There are parties and mafias working on the ground,” said Mr Zein.
Politicians are widely perceived as corrupt in Lebanon, which ranks 138th out of 180 countries in Transparency International's latest corruption perception index.
In a street close to the shops, Mr Zein’s daughter had just finished washing the floor and hanging her carpets out to dry after her flat was flooded with a mixture of rain and sewage water.
Like her neighbours, she had built a 50-centimetre cement wall in front of her door, but this time, it was not enough to stop the water.
“We complained to the municipality. They sent us a plumber who said the whole lay-out is wrong and that everything must be broken and rebuilt. But the owner refuses,” said her neighbour, a Syrian woman, showing water dripping from her kitchen ceiling.
A few kilometres inland, Yazbeck Yazbeck, an employee at the neighbouring municipality of Naameh, blamed the flooding in his area on a badly-constructed artificial dam that had been sloppily supervised by public authorities.
“I am myself a politician. I’m 50 years old. I know how it works here. No pressure will change anything,” said Mr Yazbek, who is a member of the Free Patriotic Movement, a party that was founded by President Michel Aoun.
His wood workshop, in the basement of an unfinished building, was destroyed on Thursday by heavy rain. The interior walls even collapsed from the pressure of the incoming water.
“I need a month to clean this all up by myself. No one will help us,” he said, his face splattered with mud as he attempted to remove the detritus that had accumulated in his workshop and the floodwaters rushed in.
When The National drove up to the project that locals described as a dam, the gates were firmly shut. A sign read that it was an emergency waste treatment project supervised by the Council for Development and Reconstruction.
A New York Times investigation published earlier this month accused the council of corruption by awarding contracts to firms close to politicians in power.
In a memo leaked by Wikileaks in 2009, the then-Lebanon manager for the World Bank, Demba Ba, said his organisation was constantly fighting the council’s declarations that it “already had a contractor” for projects.
The firm was “usually someone either associated with the Prime Minister or whom the Prime Minister needs to compensate for a political or financial favour,” he said.
Armies of Sand
By Kenneth Pollack (Oxford University Press)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Brief scores:
Arsenal 4
Xhaka 25', Lacazette 55', Ramsey 79', Aubameyang 83'
Fulham 1
Kamara 69'
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Brief scores:
Day 1
Toss: South Africa, field first
Pakistan (1st innings) 177: Sarfraz 56, Masood 44; Olivier 4-48
South Africa (1st innings) 123-2: Markram 78; Masood 1-4
How tumultuous protests grew
- A fuel tax protest by French drivers appealed to wider anti-government sentiment
- Unlike previous French demonstrations there was no trade union or organised movement involved
- Demonstrators responded to online petitions and flooded squares to block traffic
- At its height there were almost 300,000 on the streets in support
- Named after the high visibility jackets that drivers must keep in cars
- Clashes soon turned violent as thousands fought with police at cordons
- An estimated two dozen people lost eyes and many others were admitted to hospital
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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'The Coddling of the American Mind: How Good Intentions and Bad Ideas are Setting up a Generation for Failure'
Greg Lukianoff and Jonathan Haidt, Penguin Randomhouse
The specs: McLaren 600LT
Price, base: Dh914,000
Engine: 3.8-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 600hp @ 7,500rpm
Torque: 620Nm @ 5,500rpm
Fuel economy 12.2.L / 100km
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Iraq negotiating over Iran sanctions impact
- US sanctions on Iran’s energy industry and exports took effect on Monday, November 5.
- Washington issued formal waivers to eight buyers of Iranian oil, allowing them to continue limited imports. Iraq did not receive a waiver.
- Iraq’s government is cooperating with the US to contain Iranian influence in the country, and increased Iraqi oil production is helping to make up for Iranian crude that sanctions are blocking from markets, US officials say.
- Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, pumped last month at a record 4.78 million barrels a day, former Oil Minister Jabbar Al-Luaibi said on Oct. 20. Iraq exported 3.83 million barrels a day last month, according to tanker tracking and data from port agents.
- Iraq has been working to restore production at its northern Kirkuk oil field. Kirkuk could add 200,000 barrels a day of oil to Iraq’s total output, Hook said.
- The country stopped trucking Kirkuk oil to Iran about three weeks ago, in line with U.S. sanctions, according to four people with knowledge of the matter who asked not to be identified because they aren’t allowed to speak to media.
- Oil exports from Iran, OPEC’s third-largest supplier, have slumped since President Donald Trump announced in May that he’d reimpose sanctions. Iran shipped about 1.76 million barrels a day in October out of 3.42 million in total production, data compiled by Bloomberg show.
- Benchmark Brent crude fell 47 cents to $72.70 a barrel in London trading at 7:26 a.m. local time. U.S. West Texas Intermediate was 25 cents lower at $62.85 a barrel in New York. WTI held near the lowest level in seven months as concerns of a tightening market eased after the U.S. granted its waivers to buyers of Iranian crude.
Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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.”
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY%20PROFILE
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White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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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
Kill%20
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