• Army soldiers stand guard near the government Serail building during a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
    Army soldiers stand guard near the government Serail building during a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
  • Lebanese anti-government protesters hurl rocks at the Serail, the headquarters of the Governorate of North Lebanon, in the northern port city of Tripoli. AFP
    Lebanese anti-government protesters hurl rocks at the Serail, the headquarters of the Governorate of North Lebanon, in the northern port city of Tripoli. AFP
  • Lebanese anti-government protesters burn dumpsters to block al-Nour Square in Lebanon's northern port city of Tripoli. AFP
    Lebanese anti-government protesters burn dumpsters to block al-Nour Square in Lebanon's northern port city of Tripoli. AFP
  • Lebanese anti-government protesters burn dumpsters to block al-Nour Square in Lebanon's northern port city of Tripoli. AFP
    Lebanese anti-government protesters burn dumpsters to block al-Nour Square in Lebanon's northern port city of Tripoli. AFP
  • Lebanese anti-government protesters carry a security booth amid clashes with the army in the northern port city of Tripoli. AFP
    Lebanese anti-government protesters carry a security booth amid clashes with the army in the northern port city of Tripoli. AFP
  • Army soldiers are deployed during clashes with demonstrators at a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
    Army soldiers are deployed during clashes with demonstrators at a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
  • Army soldiers clash with demonstrators during a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
    Army soldiers clash with demonstrators during a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
  • Lebanese protesters burn garbage and tires during a protest against strict lockdown measures in Tripoli, north Lebanon. AP
    Lebanese protesters burn garbage and tires during a protest against strict lockdown measures in Tripoli, north Lebanon. AP
  • A man passes in front a car that was set on fire during a protest against strict lockdown measures in Tripoli. AP
    A man passes in front a car that was set on fire during a protest against strict lockdown measures in Tripoli. AP
  • Army soldiers are deployed during clashes with demonstrators at a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
    Army soldiers are deployed during clashes with demonstrators at a protest against the lockdown and worsening economic conditions, amid the spread of the coronavirus disease (COVID-19), in Tripoli, Lebanon. Reuters
  • A Lebanese anti-government protester holds a sign of the Serail, the headquarters of the Governorate of North Lebanon, in the northern port city of Tripoli. AFP
    A Lebanese anti-government protester holds a sign of the Serail, the headquarters of the Governorate of North Lebanon, in the northern port city of Tripoli. AFP
  • Lebanese soldiers fire rubber bullet and tear gas at anti-government protesters amid clashes in the northern port city of Tripoli. AFP
    Lebanese soldiers fire rubber bullet and tear gas at anti-government protesters amid clashes in the northern port city of Tripoli. AFP

Third night of unrest kicks off in Lebanon


  • English
  • Arabic

Crowds gathered in Tripoli’s city centre for a third night of unrest on Wednesday, as a wave of protests against a punishing coronavirus lockdown continue to drive people out into the streets.

Even before the sun had gone down, groups of masked men had set fire to dumpsters in Al Nour square, and pelted stones at the city’s Serail - the seat of local government.

Earlier in the day, Prime Minister designate Saad Hariri condemned the violence of the two previous nights, claiming in a vague tweet that political groups may be behind the unrest.

“Behind the moves in Tripoli may be parties that want to send political messages,” he said.

Groups had clashed with the army across the city centre late into the night on Tuesday, with soldiers using tear gas and rubber bullets in response to a barrage of rocks and broken glass.

By 10pm that evening, Al Nour Square, once home to the sprawling campsites of last year’s uprising, had been cleared by the army.

A few exhausted soldiers sat on the ground amid a carpet of broken tiles and smashed concrete.

“Who do they think is going to clean this up?” sighed one of the soldiers, who was a local.

Thousands were drawn out, as the second consecutive night of clashes in the city vastly outdid the first.

During the economic crisis, Tripoli has fared especially badly compared with other parts of the country.

More than 50 per cent of the country's population were living below the poverty line even before the economic crisis of the past year.

Many out demonstrating were furious at the lack of government support throughout the pandemic.

"There is no country in the world that went into lockdown without compensating people," said Rami, 40, a shop owner.

"How are we going to live?"

Ibrahim Al Attar, a delivery driver with a young daughter, said Covid-19 restrictions were making it impossible for him to pay his rent.

“I am protesting because I have no money. How are we supposed to make a living during lockdown?” Mr Al Attar said.

At one point in the night, demonstrators tried to set fire to a police station.

They set alight a dumpster in its entrance before trying to storm the station, forcing them to put the fire out.

The city has had other protests against lockdown, but none came close to the scale or anger of Tuesday night, and many people said they would be back on Wednesday.

“We have nothing else to do,” said Majdi Akati, 19. “It’s not like there are any jobs, the schools are shut too.”

Tripoli is no stranger to popular protest. It was a centre of uprising during the wave of protests that forced the country’s government to resign in 2019 and 2020.

Yet those out on the streets said it was a different crowd venting their anger, with the witty chants and megaphones swapped for fireworks and shouts.

The leaders of the previous protests in recent years appeared to stay home, as the young crowds roamed the city with little sense of organisation.

“The big shots from the revolution only talk about protesting on social media, but where are they today? None of them came to demonstrate with us,” Mr Al Attar said.

The Lebanese Red Cross said it had taken 9 people to hospital while treating 36 on the spot.

The National  saw one unconscious man being carried by stretcher to an ambulance, and at least two men being arrested by the army.

The country is in the middle of a 25-day lockdown, as it battles record numbers of coronavirus deaths.

On Monday, 73 people – the highest daily toll yet – were reported to have died with Covid-19.

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

The biog

Title: General Practitioner with a speciality in cardiology

Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India

Education: Medical degree from the Government Medical College in Nagpur

How it all began: opened his first clinic in Ajman in 1993

Family: a 90-year-old mother, wife and two daughters

Remembers a time when medicines from India were purchased per kilo

THE NEW BATCH'S FOCUS SECTORS

AiFlux – renewables, oil and gas

DevisionX – manufacturing

Event Gates – security and manufacturing

Farmdar – agriculture

Farmin – smart cities

Greener Crop – agriculture

Ipera.ai – space digitisation

Lune Technologies – fibre-optics

Monak – delivery

NutzenTech – environment

Nybl – machine learning

Occicor – shelf management

Olymon Solutions – smart automation

Pivony – user-generated data

PowerDev – energy big data

Sav – finance

Searover – renewables

Swftbox – delivery

Trade Capital Partners – FinTech

Valorafutbol – sports and entertainment

Workfam – employee engagement

Key developments

All times UTC 4

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Final scores

18 under: Tyrrell Hatton (ENG)

- 14: Jason Scrivener (AUS)

-13: Rory McIlroy (NIR)

-12: Rafa Cabrera Bello (ESP)

-11: David Lipsky (USA), Marc Warren (SCO)

-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
AUSTRALIA SQUAD

Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle

MATCH INFO

Manchester City 1 Chelsea 0
De Bruyne (70')

Man of the Match: Kevin de Bruyne (Manchester City)

New UK refugee system

 

  • A new “core protection” for refugees moving from permanent to a more basic, temporary protection
  • Shortened leave to remain - refugees will receive 30 months instead of five years
  • A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
  • To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
  • Under core protection there will be no automatic right to family reunion
  • Refugees will have a reduced right to public funds

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The Greatest Royal Rumble card as it stands

The Greatest Royal Rumble card as it stands

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Chris Jericho

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v tba

Europe's top EV producers
  1. Norway (63% of cars registered in 2021)
  2. Iceland (33%)
  3. Netherlands (20%)
  4. Sweden (19%)
  5. Austria (14%)
  6. Germany (14%)
  7. Denmark (13%)
  8. Switzerland (13%)
  9. United Kingdom (12%)
  10. Luxembourg (10%)

Source: VCOe 

Queen

Nicki Minaj

(Young Money/Cash Money)

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MATCH INFO

Uefa Champions League, semi-final result:

Liverpool 4-0 Barcelona

Liverpool win 4-3 on aggregate

Champions Legaue final: June 1, Madrid

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

THE TWIN BIO

Their favourite city: Dubai

Their favourite food: Khaleeji

Their favourite past-time : walking on the beach

Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

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.”

UAE currency: the story behind the money in your pockets
The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.