SIDON, LEBANON // Sheikh Ahmed Al Assir does not mince his words.
Sitting under a canvas shade where his supporters have set up a protest camp, the Sunni imam takes on one of Lebanon's most volatile issues - Hizbollah's weapons. "We want a serious discussion about weapons. We are not moving until we see a serious discussion," he says.
He doesn't stop there, taking on two of Lebanon's most revered and feared figures: Hassan Nasrallah, the Hizbollah leader, and Nabih Berri, the Amal leader and speaker of the Lebanese parliament. "The reason I am so well known is because I stood up to Berri and Nasrallah. No one before me dared to do this," he says.
Sheikh Al Assir has risen in just a few months from being a relatively unknown imam in Sidon to a national figure for his support of the uprising in Syria.
Now he is using his new-found fame to take on one of the most divisive issues in Lebanese politics, demanding that the government confront Hizbollah over its weapons.
While the message resonates with some Lebanese, his rhetoric has raised concerns about inflaming sectarian tension.
Hizbollah and its allies maintain the movement's arsenal, believed to include tens of thousands of short and long-range rockets, is necessary to defend Lebanon from an attack by Israel. Opponents argue that only the Lebanese state and the national army has the right to carry weapons to defend the country.
The issue, which has long clouded Lebanese politics and divided public opinion, has once again come to the fore with the current round of all-party talks.
Hizbollah has threatened to bring down the government, even take its grievances to the street, if attempts are made to confiscate its arms caches.
Last week in Sidon, dozens of people tried to hoist a large canvas cover over a stretch of road that Sheikh Al Assir and his followers have occupied for the past fortnight.
Holding two-way radios, his security team check who passes the blockades set up on Sidon's eastern highway that leads towards Beirut. The sheikh's protest camp has been criticised by political and business leaders for cutting off the road and taking an economic toll on the city.
But local politicians and the government have so far failed to find a way of mediating an end to the protest, which the sheikh calls an "Uprising for Dignity".
"We can live on little food, clothes, electricity," he says. "But not without dignity. My speeches are what everyone wants to say, but cannot."
Sheikh Al Assir blames Hizbollah and its allies for the political tension in Lebanon and for marginalising Sunnis and other religious groups since they became such a dominant force in Lebanese politics. It is the group's weapons, he says, that give them leverage.
He appears to taunt Hizbollah, which he refuses to refer to by its actual name, which means Party of God. Instead he uses Hizb Al Moqawama, which translates as "party of the resistance".
Sheikh Al Assir openly criticised Shiite leaders in an interview on Al Jadeed television last month. The following night, the station was attacked and streets in Beirut blocked by burning tyres.
The 44-year-old imam's rise to Lebanon's political stage has been rapid, since he preached at the Bilal bin Rabah Mosque in Sidon. He captured media attention with his support of the Syrian uprising and for organising rallies in solidarity with those opposing the regime of the Syrian president Bashar Al Assad.
In Lebanon's charged and divided political environment - largely split between those who support Syria, including the Lebanese Shiite movement Hizbollah, and those against the Assad regime - he has found an audience.
Some have simply dismissed the imam as a media phenomenon. Others believe he has tapped into a sentiment that resonates with a certain segment of the Lebanese population.
Hilal Khashan, a professor of political science at the American University of Beirut, attributes some of this appeal to a leadership vacuum within Lebanon's Sunni community.
"This man is a vocal phenomenon, nothing more. He'll stick around for a while, until there are changes in the Lebanese political situation, maybe for example, the return of Saad Hariri," he said. The former prime minister and leader of the Future Movement been abroad for more than a year.
"There are limits to Assir's rise, even if there continues to be a vacuum. He doesn't represent a significant cross section of Lebanon's Sunnis."
On face value at least, his appeal appears to speak to conservative Sunnis.
The women seated separately from the men at the protest camp are almost all swathed from head to foot in black niqabs and abayas.
A 35-year-old in the crowd, who would identify herself only as Dina, said they were looking for "tangible solutions" to the question of Hizbollah's weapons.
"We are calling on all Lebanese women to come here so we can get the equilibrium back," she said.
Many of the men at the protest camp have the shaved heads, close-cropped moustaches and long beards associated with the ultraconservative Salafist strain of Islam. Sheikh Al Assir maintains his message is not geared towards Lebanon's Sunni population, but to all Lebanese. Banners hung along the blocked Sidon road proclaim solidarity with other sects - "all free Shiites, Christians and Druze", one reads.
Mr Khashan, however, says this is simply the "empty talk" that all Lebanese political figures have to subscribe to.
"He is making waves right now when there is little if any political activity in Lebanon."
zconstantine@thenational.ae
The Disaster Artist
Director: James Franco
Starring: James Franco, Dave Franco, Seth Rogan
Four stars
BRAZIL%20SQUAD
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Company%20profile
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Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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.”
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
COMPANY%20PROFILE%20
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Company%20Profile
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COMPANY%20PROFILE
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
COMPANY%20PROFILE
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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
ATP RANKINGS (NOVEMBER 4)
1. Rafael Nadal (ESP) 9,585 pts ( 1)
2. Novak Djokovic (SRB) 8,945 (-1)
3. Roger Federer (SUI) 6,190
4. Daniil Medvedev (RUS) 5,705
5. Dominic Thiem (AUT) 5,025
6. Stefanos Tsitsipas (GRE) 4,000 ( 1)
7. Alexander Zverev (GER) 2,945 (-1)
8. Matteo Berrettini (ITA) 2,670 ( 1)
9. Roberto Bautista (ESP) 2,540 ( 1)
10. Gaël Monfils (FRA) 2,530 ( 3)
11. David Goffin (BEL) 2,335 ( 3)
12. Fabio Fognini (ITA) 2,290
13. Kei Nishikori (JPN) 2,180 (-2)
14. Diego Schwartzman (ARG) 2,125 ( 1)
15. Denis Shapovalov (CAN) 2,050 ( 13)
16. Stan Wawrinka (SUI) 2,000
17. Karen Khachanov (RUS) 1,840 (-9)
18. Alex De Minaur (AUS) 1,775
19. John Isner (USA) 1,770 (-2)
20. Grigor Dimitrov (BUL) 1,747 ( 7)
Green ambitions
- Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
- Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
- Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
- Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water
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COMPANY PROFILE
Company name: Letstango.com
Started: June 2013
Founder: Alex Tchablakian
Based: Dubai
Industry: e-commerce
Initial investment: Dh10 million
Investors: Self-funded
Total customers: 300,000 unique customers every month
THREE
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