UN leader to demand $1bn damages for Lebanon


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BEIRUT // Israel's failure to make reparations for environmental damage inflicted on Lebanon and surrounding countries during the July 2006 war with Hizbollah will draw a rebuke next month from the UN secretary general, according to Lebanese and UN officials. Ban Ki-moon, the UN secretary general, plans to ask the Israeli government to compensate Lebanon, neighbouring countries and the UN with as much as US$1 billion (Dh3.67bn) to assist with cleaning up damage to the eastern Mediterranean coastline from about 15,000 metric tonnes of fuel oil spilled into the sea when Israeli jets bombed a major electricity plant in Jiyeh, Lebanon.

Just days into the war between Hizbollah and Israel, IDF planes repeatedly bombed the oil storage tanks, which held more than 40,000 tonnes of fuel that fed Lebanon's largest electricity generating plant and were located just outside the southern city of Sidon. In a visit immediately after a wave of bombings on July 15, a journalist witnessed huge amounts of flaming fuel oil melting the sandy earth around the plant into sheets of glass, as well as clear evidence the tanks were leaking oil into the ocean. The smoke from the fire could be seen from almost 100km away and oil soot covered much of the surrounding areas for months afterwards. Within days of the attacks, a large oil slick formed off the coast of Lebanon, covering the shoreline between Sidon and Tripoli with a thick coat of oil that killed marine and wildlife, turned beaches into tar pits and, in one case cited by the World Bank, produced a 50,000 sq metre "carpet" of oil sunken below the sea just off the coast of Sidon. While the majority of the damage was contained to Lebanon's beaches - which form a critical aspect of the country's tourist-based economy - there have been reports of oil washing ashore in both Syria and Turkey. As a result of the international nature of the damage, the UN has been unsuccessfully pressuring Israel to pay for a regional cleanup effort. A World Bank study commissioned by the UN and Lebanon determined the $1bn figure, although most experts consider that figure low. An official at the environment ministry in Beirut said the Lebanese government did not know if Israel would pay the sum or if it would, in any case, cover the cost of the damage. Speaking on condition of anonymity, he declined to elaborate on the estimated economic or environmental cost of the oil spill. The issue of compensation for such an act of war is extremely complicated under international law, according to diplomatic officials familiar with the situation in Beirut, with the UN having little authority to force Israel to make payments unless backed by a Security Council resolution. The United States would probably veto any strong resolution against Israel, according the Beirut diplomatic sources. But political realities have not stopped Mr Ban from pushing the issue repeatedly in the past, and UN officials expect the secretary general to introduce a report on the environmental impact of the war, highlighting the damage done by the Jiyeh spill, sometime in October. This is not the first time Mr Ban has pushed the issue on Israeli actions towards Lebanon in the 2006 war and the resulting environmental damage. In a 2007 report, he called upon the Israelis to honour international law on these issues, and noted that attempts by the United Nations to discuss the situation had gone ignored. Mr Ban said at the time: "The government of Israel has yet to assume its responsibility" and noted that the UN Environment Programme had sent letters to Israel in Aug 2007 and June 2008.

"No response has been received to either of those communications. In the absence of an official response from Israel, it is difficult to report on progress," Mr Ban said at the time of the second letter. The report asked Israel to address its responsibilities to the region as a whole and to take steps to mitigate the environmental effect of not just the Jiyeh bombings, but damage done throughout Lebanon and the region during to the 34-day war. Israel, Mr Ban wrote, needs "to take the necessary actions towards assuming responsibility for prompt and adequate compensation to the government of Lebanon". According to an environmental expert working with Greenpeace, the damage done by the oil spill, although significant, could be managed with proper funding, although it will require a broader environmental effort than Lebanon is capable of. "We did a study to estimate the damage and we found out that it's not as bad" as past spills in other countries, said Yassmean Helow, the marine campaign co-ordinator for Greenpeace Lebanon. "The sea in Lebanon can recover from this particular damage," he said, but it is not the only problem environmentalists face. "[We must] work with the [local population] to control other damage done to the marine life such as the garbage dumping on the sea shores, other damage is the oil dumping from [arriving or departing] ships." Ahmad, 58, has been a fisherman in Sidon since the age of 10 and he claims to have never seen such small catches and poor quality fish in his lifetime. "The amount of fish we are getting now is a quarter of what we used to get before the summer 2006 war, or before the fuel oil was spilled in the sea," he said. "The oysters are not growing anymore and it became hard to find a lot of them. We find them dead and floating in the sea. Plus the taste is different now, and the size is different. [There are] no more healthy fish anymore. It's not fair for us and not fair for the fish in the sea." mprothero@thenational.ae

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
UAE currency: the story behind the money in your pockets
Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

Dubai World Cup draw

1. Gunnevera

2. Capezzano

3. North America

4. Audible

5. Seeking The Soul

6. Pavel

7. Gronkowski

8. Axelrod

9. New Trails

10. Yoshida

11. K T Brave

12. Thunder Snow

13. Dolkong 

The specs

Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km

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
Stan%20Lee
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20David%20Gelb%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

BRIEF SCORES

England 228-7, 50 overs
N Sciver 51; J Goswami 3-23

India 219, 48.4 overs
P Raut 86, H Kaur 51; A Shrubsole 6-46

England won by nine runs

French Touch

Carla Bruni

(Verve)

Super Rugby play-offs

Quarter-finals

  • Hurricanes 35, ACT 16
  • Crusaders 17, Highlanders 0
  • Lions 23, Sharks 21
  • Chiefs 17, Stormers 11

Semi-finals

Saturday, July 29

  • Crusaders v Chiefs, 12.35pm (UAE)
  • Lions v Hurricanes, 4.30pm
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

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5