Lebanon steps up security over unrest



BEIRUT // Lebanon's interior ministry yesterday launched a month-long, countrywide security initiative, amid several outbreaks of unrest in the capital, including attempts to block roads with burning tyres.

Marwan Charbel, the minister of interior, was in the south Beirut suburb of Mcharafieh yesterday to launch the measure, which will be carried out by police, supported by the Lebanese army. Police patrols, checkpoints and raids targeting people wanted by authorities are expected to be increased.

The security plan comes during a period of heightened tension in Lebanon and following an attack on the Beirut headquarters of the Al Jadeed Television station by several armed men on Monday night.

Police believe the attack came in response to an interview broadcast on the station last Sunday with Sheikh Ahmed Al Assir in which the Sunni cleric - who has recently come to prominence for his support for the Syrian uprising - openly criticised Lebanese Shiite leaders.

One suspect was arrested shortly after the attack, which led to further troubles as men tried to block several roads with burning tyres.

Further attempts to cutoff roads were reportedly carried out yesterday in protest against the suspect's detention.

A group of men gathered outside the offices of the Future Television station in central Beirut yesterday to protest against the arrest of the man who was identified by the state-run National News Agency as Wissam Alaeddine.

There have been rising tensions in Lebanon in recent months, in particular between groups within the Sunni and Shiite communities, which have been inflamed by the increasingly sectarian nature of the conflict across the border in Syria.

The Lebanese Shia movement Hizbollah and other groups have continued to back the regime of the Syrian President Bashar Al Assad, while some Sunni groups support the Syrian rebels.

The Lebanese government has said it is committed to "disassociating" from the Syrian crisis, as a way to preserve stability in Lebanon.

Mr Charbel, the interior minister, yesterday told reporters that his security plan was launched in Beirut's southern Dahiyeh district because "people keep saying that security does not exist in the southern suburbs", Lebanon's Daily Star newspaper reported.

Dahiyeh is known as a stronghold of Hizbollah, which operates its own security apparatus.

The interior minister was also quoted as saying he hoped all political groups would try to calm tensions in the country, assist in efforts to tackle criminal activity and improve security.

A source at the ministry of interior said the initiative would tackle everything from traffic violations to efforts to capture criminals.

"Some call it a security month, but security is not a seasonal matter," said Najib Mikati, Lebanon's prime minister, according to the Daily Star. "Security should be durable. Therefore, this month will be a test for us to follow at all times."

However, Hilal Khashan, a professor of political science at the American University of Beirut, dismissed the initiative as nothing more than a "public-relations stunt".

"Those who want to engage in subversive actions won't stop because of this," he said."The government knows it is under pressure because of the situation in Syria and is trying to give the impression that it has everything under control."

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What is cyberbullying?

Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.

Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.

Parents should watch out for behavioural changes in their children.

When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety

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HIV on the rise in the region

A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.

New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.

Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.

Access to HIV testing, treatment and care in the region is well below the global average.  

Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

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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