BEIRUT // Organisers called off an anti-government demonstration in Beirut on Monday evening after clashes at protests on the two previous nights left hundreds of people injured.
The You Stink movement, formed to protest the government’s inability to solve an ongoing rubbish disposal crisis, condemned the violence and said protesters who instigated fights with police and later rioted were “sectarian thugs” and “political hooligans” who infiltrated the demonstrations.
“Our movement did not and will not stop,” the group said on Monday. “This is not retreat however, we simply need to re-evaluate and sort out our demands as well as listen to what the people have to say.”
Activists later announced that the next protest will take place on Saturday evening.
Thousands of demonstrators streamed into central Beirut on Saturday and Sunday in response to calls by You Stink. The clashes that broke out on both nights wounded more than 400 people, according to the Lebanese Red Cross.
Prime minister Tamam Salam resisted pressure to step down after Saturday’s protest turned violent, pledging instead to hold security forces accountable for attacking protesters and to resolve the waste disposal crisis that initially led to the protests.
You Stink began holding protests last month over the government’s failure to find a sustainable and environmentally-friendly way to dispose of Beirut’s waste after Lebanon’s largest landfill was closed on July 17.
The loosely-organised movement headed by social activists swelled from just a few hundred to thousands in just a few weeks.
Rubbish piled up in the capital and surrounding communities for nearly two weeks before municipalities began moving them to makeshift dumps, but no permanent solution has been found.
The protests over rubbish have now snowballed into a larger movement against the government’s inability to provide basic services such as electricity and water, corruption, sectarianism, and the failure to elect a president for more than a year.
On Monday afternoon, Lebanon’s environment minister Mohammad Machnouk announced the names of six companies that had won bids to Lebanon’s waste management, describing the development as a “happy ending”.
The bids will now go before Lebanon’s cabinet for approval. However, the announcement did not appease You Stink activists who called for the bids to be annulled, saying the tenders were aimed at stealing public funds, according to local media reports. They have vowed to continue their protests.
While majority of the thousands of demonstrators at Sunday’s rally were peaceful, the situation quickly deteriorated at the front of the protest where crowds grew more violent.
At the razor-wire barricades in front of the prime minister’s headquarters, protesters began hurling water bottles, rocks and other objects at the police. After criticism of their heavy-handed tactics against protesters on Saturday, the police initially showed restraint and limited their response to using water cannon.
This emboldened the protesters and their chants of “the people want the fall of the regime” – the slogan of uprisings in Egypt and Tunisia during the Arab Spring – grew louder with each dousing.
The jets of water also riled protesters who were attacking police, into attempting to remove the concertina razor wire and throwing larger, heavier and more dangerous objects at security forces.
A group of men broke into a building and one emerged holding a toilet which he smashed, providing more ammunition for the protesters to throw.
Security forces eventually responded by firing tear gas, stun grenades and rubber bullets, sending protesters scattering.
“Is this democracy? Is this democracy?” one shouted as the shots rang out.
On Monday, authorities erected concrete blast balls at the entrance of the prime minister’s headquarters, which has been a focal point of clashes in recent days.
As the police turned on the protesters, You Stink activists urged their supporters to leave the area to show they were not encouraging violence.
Some supporters accused the violent protesters of being infiltrators sent by political parties to ruin the movement.
Others said they were simply marginalised members of society who were venting anger that had built up over the years.
Pushed back from the prime minister’s office to Martyrs’ Square, some protesters rioted, destroying traffic lights, setting fire to barricades and a construction site and tearing down street signs.
Two You Stink supporters who stayed in the area despite the movement’s advice to leave watched the rioters with dismay.
Moe, a Lebanese American University student who asked that his surname not be used, said he was upset by the destruction, which tarnished a movement aimed to improve the country.
He was not sure if the rioters were politically motivated, but said some seemed to be from the slums, where opportunities are few and anger at the state has been building up for generations.
“It’s a result of the corruption in this country,” he said. “I want a better Lebanon with no corruption.”
His friend Sam was unsure the protest movement would go forward if violent elements continued to show up.
“The movement is not going to come back unless they all leave,” he said.
foreign.desk@thenational.ae
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.”
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
UAE currency: the story behind the money in your pockets
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Company profile
Name: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000