BEIRUT // The potential indictment of Hizbollah members by an international tribunal investigating the 2005 murder of the former prime minister Rafiq Hariri will not cause widespread civil unrest in Lebanon, the current prime minister and son of the slain leader has said.
Saad Hariri, in an interview published yesterday in the daily Al Hayat, also said any named suspects that may be members of Hizbollah will be regarded as rogue elements of the Shia militant group.
Mr Hariri made the statements in an effort to reassure the country that any indictments of Hizbollah members by the Special Tribunal for Lebanon would not lead to a return of sectarian violence between Sunni supporters of the Hariri family and the mostly Shiite supporters of Hizbollah.
The prime minister was said to have informed the Hizbollah leader, Hasan Nasrallah, during a meeting in May that the indictments - expected later this year - would include several members of the Shiite militant group.
Mr Nasrallah revealed in a closely watched speech and press conference on Thursday evening that Mr Hariri had told him of the impending indictments. In the speech, Mr Nasrallah denounced the tribunal process as biased and chided Syria's opponents in Lebanon for jumping to conclusions about the murder of Hariri and destabilising the country from 2005 until 2008.
The 2005 blast in downtown Beirut killed Hariri and 21 others and set a near civil war into motion, one that first saw Syria forced to end its three-decade-long occupation of Lebanon and later turned into violent clashes between the Sunni and Shiite communities of Beirut.
"I was personally informed by prime minister Saad Hariri before his visit to Washington [in May] that the tribunal will accuse some undisciplined members [of Hizbollah]," Mr Nasrallah said during the press conference. In keeping with his often-draconian security measures, due to fears he could be targeted by Israel, Mr Nasrallah spoke by video link to supporters and some journalists for Arabic-language media.
"That's where things seem to be heading," Mr Nasrallah said, calling the indictments "a dangerous plot that is targeting the resistance".
"We are not at all afraid, nor are we worried. We know how to defend ourselves," he added.
Mr Nasrallah, who spoke for about an hour and answered several questions, refused to discuss how Hizbollah will react should the indictments be issued.
He confirmed for the first time that tribunal investigators had come to Lebanon this year to interview members of the group and said that, in his view, there was bias in their questioning, leading him to believe that not only were indictments a foregone conclusion but that the investigation had been held to target Hizbollah.
His argument ran counter to years of speculation and leaks from the tribunal that have led many Lebanese to think that the Syrian regime would be implicated in the 2005 truck bombing of Hariri's convoy.
"All the data we have indicate that the charge sheet was written up before even the interrogation of our members," Mr Nasrallah said. "The indictment is ready [and] it is only a matter of political timing.
"As long as the probe does not look into the possibility that Israel is implicated, we believe it is biased," he said. "Never has the investigation considered the hypothesis that Israel had the means and the motive" to assassinate Hariri.
The assassination sparked a political movement, later dubbed "March 14", led by Saad Hariri, and supported by a coalition of Sunni, Druze and some Christian parties opposed to Syria's influence.
The group won parliamentary majorities in 2005 and 2009. But it has since imploded with defections and in-fighting among its members in the wake of a 2008 cabinet decision to regulate Hizbollah's internal communications network. Hizbollah and its allies responded with an armed assault on Mr Hariri's supporters in West Beirut that killed scores of people and forced intervention by Arab states to help form a unity government to end the fighting.
Mr Nasrallah used his press conference to imply that the March 14 movement has been duped by the United States and Israel into an overreaction to Hariri's murder. He called on the movement to re-evaluate its positions now that it seems certain, he said, that Syria will not be directly accused in Hariri's murder.
But March 14 leaders, at least among the Christian community, threw blame back at Mr Nasrallah, citing both the 2006 war with Israel, which was sparked by a Hizbollah operation to kidnap Israeli soldiers, and the 2008 takeover of West Beirut.
"We will not allow Sayyed Nasrallah to devastate the country like he did in July 2006 and in 2008," MP Nadim Gemayel warned. "Moreover, we will not allow any international ruling to cause internal strife."
Mr Gemayel then described March 14 as a "Lebanese movement" and asked Mr Nasrallah whether he would like the group to adopt "Syria First or Iran First" as a new slogan, in a direct reference to the very close ties between those countries and the militant group.
mprothero@thenational.ae
Company%20profile
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Australia tour of Pakistan
March 4-8: First Test, Rawalpindi
March 12-16: Second Test, Karachi
March 21-25: Third Test, Lahore
March 29: First ODI, Rawalpindi
March 31: Second ODI, Rawalpindi
April 2: Third ODI, Rawalpindi
April 5: T20I, Rawalpindi
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UAE currency: the story behind the money in your pockets
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
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
Fitness problems in men's tennis
Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
The specs
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Power: 540hp at 6,500rpm
Torque: 600Nm at 2,500rpm
Transmission: Eight-speed auto
Kerb weight: 1580kg
Price: From Dh750k
On sale: via special order
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
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Aldar Properties Abu Dhabi T10
*November 15 to November 24
*Venue: Zayed Cricket Stadium, Abu Dhabi
*Tickets: Start at Dh10, from ttensports.com
*TV: Ten Sports
*Streaming: Jio Live
*2017 winners: Kerala Kings
*2018 winners: Northern Warriors
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
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- HR leader: Dh40,000 to Dh60,000
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- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Results
2pm: Handicap Dh 90,000 1,800m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
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How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km