A woman prays at the grave of assassinated former Lebanese prime minister Rafik Hariri in downtown Beirut. Mohamed Azakir / Reuters
A woman prays at the grave of assassinated former Lebanese prime minister Rafik Hariri in downtown Beirut. Mohamed Azakir / Reuters
A woman prays at the grave of assassinated former Lebanese prime minister Rafik Hariri in downtown Beirut. Mohamed Azakir / Reuters
A woman prays at the grave of assassinated former Lebanese prime minister Rafik Hariri in downtown Beirut. Mohamed Azakir / Reuters

Lebanon ex-PM Hariri assassination verdict due next month


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A UN-backed tribunal into the assassination of former Lebanese prime minister Rafiq Hariri in a huge suicide bombing 2005 will deliver its long-awaited verdict on August 7, the court announced on Friday.

Four suspects from the Shiite Muslim fundamentalist group Hezbollah are on trial over the murder of billionaire Hariri, who was killed on Valentine's Day when the bomber detonated a van next to his armoured convoy on the Beirut seafront.

Another 21 people were killed and 226 injured in the assassination of Hariri, who was Lebanon's Sunni premier until his resignation in 2004 over Syria's role as a power-broker in the country.

The Netherlands-based court said it "issued a scheduling order today for the public pronouncement of the judgment" in the case against the suspects, who are being tried in absentia after Hezbollah chief Hassan Nasrallah refused to hand them over.

Due to the coronavirus pandemic, the hearing "will be delivered from the courtroom with partial virtual participation", it said in statement.

Salim Ayyash is accused of leading the team that carried out the bombing, while Assad Sabra, and Hussein Oneissi, allegedly sent a fake video to the Al-Jazeera news channel claiming responsibility on behalf of a made-up group.

Hassan Habib Merhi, is accused of general involvement in the plot.

The alleged mastermind of the bombing, Hezbollah commander Mustafa Badreddine, was indicted by the court but is believed to have died while leading the militia's forces fighting with the Syrian regime in May 2016.

The assassination of Hariri transformed the face of the Middle East, triggering a wave of mass demonstrations that ended with the departure of Syrian forces from Lebanon after a 30-year presence.

- 'Severe threat' -

However the trial remains a sensitive subject in Lebanon, which is politically unstable and crippled with its worst economic crisis since the 1975-1990 civil war.

The tribunal was created by a 2007 UN Security Council resolution at Lebanon's request, and the four defendants went on trial in 2014 accused of core roles in the deadly attack.

Prosecutors said during the trial that Hariri was assassinated because he was perceived as a "severe threat" to Syrian control of the country and as a "proxy of the West".

They said their case was "circumstantial" but "compelling", relying almost entirely on mobile phone records allegedly showing the suspects conducting intense surveillance of Hariri from just after his resignation until minutes before the blast.

But the absence of the defendants has raised questions about the trial's credibility, while the gap of 13 years since the attack has caused doubts about its relevance in a region transformed by the war in Syria.

Hezbollah's Hassan Nasrallah has refused to hand over the suspects and warned the tribunal "don't play with fire" while Syrian leader Bashar al-Assad says it is a tool to "pressure Hezbollah".

Rafiq Hariri's son Saad, who later went on to become prime minister like his father, called at the conclusion of the hearings in 2018 for "justice" but not revenge.

The court has heard evidence from more than 300 witnesses and amassed 144,000 pages of evidence - at an estimated cost of at least $600 million since it opened its doors in 2009.

The tribunal opened a second case last year, charging prime suspect Ayyash with terrorism and murder over deadly attacks on politicians in 2004 and 2005.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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A $10 hand-powered LED light and battery bank

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The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

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The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

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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.”

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Red cards Cahill, Fabregas (Chelsea)

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Engine: 3.0-litre six-cylinder MHEV

Power: 360bhp

Torque: 500Nm

Transmission: eight-speed automatic

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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

If you go

Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.

Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com

A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

The biog

Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages

Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”  

Favourite food: “I'm a vegetarian, so I can't get enough of salad.”

Favourite film:  “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”

Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

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The seven points are:

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Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

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Rabdan Street

Umm Yifina Street exit (inbound)

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Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor