The former Lafarge cement plant in northern Syria. Photo. AFP
The former Lafarge cement plant in northern Syria. Photo. AFP
The former Lafarge cement plant in northern Syria. Photo. AFP
The former Lafarge cement plant in northern Syria. Photo. AFP

French firm can face crime against humanity charge over Syria plant


Tariq Tahir
  • English
  • Arabic

A former employee of cement company Lafarge says he hopes he will see justice after a French court ruled the firm will face charges of crimes against humanity for its actions during the Syrian civil war.

Mohammad is one of 11 former employees of the French company's Syrian subsidiary who are taking taking legal action against the French company.

They are being joined in the case by the European Centre for Constitutional and Human Rights, and anti-corruption group Sherpa.

Lafarge is accused of paying ISIS and other armed groups €13 million ($14.1 million) to allow it to keep operating in Syria during the civil war, while keeping its Syrian employees on duty despite the risks.

France’s Supreme Court has ruled Lafarge can now face charges of crimes against humanity.

The case was first taken to court in 2016 and the lengthy legal battle is one of the most complex cases in French corporate history.

But Lafarge won a partial victory when the court dropped the charge of endangering the lives of its former Syrian employees, ruling that safety protection under French labour law did not apply to them.

Sherpa said a criminal investigation revealed that the Syrian workers, including those suing the company, may have been at risk of death, injury and kidnapping.

The cement maker admitted after its own internal investigation that its Syrian subsidiary paid armed groups to help protect staff at the plant during the civil war.

But it has strenuously denied endangering the lives of its local staff by making them continue to work in an unsafe situation and that it was complicit in crimes against humanity committed by militias.

After the ruling, Mohammad said he and the other workers “will continue to demand the justice we deserve”.

Lafarge is facing another lawsuit, brought in the US by Nobel prize winner Nadia Murad and fellow Yazidis. Photo: Oscilloscope Laboratories.
Lafarge is facing another lawsuit, brought in the US by Nobel prize winner Nadia Murad and fellow Yazidis. Photo: Oscilloscope Laboratories.

He told The National he began working for Lafarge in 2011, the year the civil war broke out, after moving from Damascus where he was brought up and went to university.

The war began as protests against the regime of Syrian President Bashar Al Assad.

The company owned a cement factory in the north of Syria, between Raqqa and Manbij, which it bought in 2008 for €680 million.

Mohammad said that at first he said was “very excited” to be working for a multinational company but soon the area around the plant became engulfed in the civil war.

The factory was in an area controlled by Kurdish militia who manned checkpoints that employees had to pass through, he said.

At that point Lafarge told its Syrian national employees to move to the city of Manbij, about an hour’s drive away.

“When they began to evacuate, the expats from the factory raised the question ‘What about the Syrian people?’ and they said, ‘There is no evacuation plan for you’.”

Other French companies, including oil giant Total, closed their operations in Syria after the EU imposed an arms and oil embargo after the civil war broke out, but Lafarge stayed.

The city of Manbij was devastated by the Syrian civil war. Photo: STR
The city of Manbij was devastated by the Syrian civil war. Photo: STR

With Manbij in the hands of its opponents, the city became a target for regime air strikes.

In August 2012, Mohammad managed to evacuate his wife and daughter to Turkey and then returned to keep working.

The day after he arrived back home, his neighbourhood was destroyed by a regime air strike.

“I was sleeping for a little bit after coming back from work, maybe for five minutes, then I heard a bomb and I just jumped up and then on to the floor. I survived death.

“The next day I went to the factory and said, ‘Did you see what happened, what shall I do?’.

"And they said, ‘We cannot protect you’. I told them that if they can’t protect me I can’t remain in Syria so they fired me.”

Mohammed went to join his family in Turkey and eventually they settled in Germany, where he works as a manager for a large business.

Looking back at his experience, he described it “as a terrible time for me and my family”.

“There are a lot of people who have been kidnapped and disappeared but nobody from Lafarge took any action, so maybe by being part of this case I can be the voice of these people who have disappeared," Mohammad said.

"Maybe I can represent the orphans and the widows, so that’s why I’m in this case.”

The decision comes after Lafarge, now a part of the Swiss conglomerate, Holcim, pleaded guilty in a US court to providing support to ISIS in Syria and agreed to forfeit $687 million and pay a $90 million fine in 2022.

Lafarge is facing another lawsuit, brought in the US by Nobel prize winner Nadia Murad, one of more than 400 Yazidis who have filed a court case against the company.

They charge that it conspired to provide material support to a campaign of terrorism by ISIS against the Yazidi population.

In a statement, Lafarge said: “This is a legacy issue, which Lafarge SA is addressing through the legal process in France.”

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

360Vuz PROFILE

Date started: January 2017
Founder: Khaled Zaatarah 
Based: Dubai and Los Angeles
Sector: Technology 
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Funding: $7 million 
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PROVISIONAL FIXTURE LIST

Premier League

Wednesday, June 17 (Kick-offs uae times) Aston Villa v Sheffield United 9pm; Manchester City v Arsenal 11pm 

Friday, June 19 Norwich v Southampton 9pm; Tottenham v Manchester United 11pm  

Saturday, June 20 Watford v Leicester 3.30pm; Brighton v Arsenal 6pm; West Ham v Wolves 8.30pm; Bournemouth v Crystal Palace 10.45pm 

Sunday, June 21 Newcastle v Sheffield United 2pm; Aston Villa v Chelsea 7.30pm; Everton v Liverpool 10pm 

Monday, June 22 Manchester City v Burnley 11pm (Sky)

Tuesday, June 23 Southampton v Arsenal 9pm; Tottenham v West Ham 11.15pm 

Wednesday, June 24 Manchester United v Sheffield United 9pm; Newcastle v Aston Villa 9pm; Norwich v Everton 9pm; Liverpool v Crystal Palace 11.15pm

Thursday, June 25 Burnley v Watford 9pm; Leicester v Brighton 9pm; Chelsea v Manchester City 11.15pm; Wolves v Bournemouth 11.15pm

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Monday June 29 Crystal Palace vs Burnley 11pm

Tuesday June 30 Brighton vs Manchester United 9pm; Sheffield United vs Tottenham 11.15pm 

Wednesday July 1 Bournemouth vs Newcastle 9pm; Everton vs Leicester 9pm; West Ham vs Chelsea 11.15pm

Thursday July 2 Arsenal vs Norwich 9pm; Manchester City vs Liverpool 11.15pm

 

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Director:Mike Mills

Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman

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5.30pm: Maiden (PA) Dh80,000 1,400m​​​​​​​
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.

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7.30pm: Maiden (TB) Dh80,000 1,600m​​​​​​​
Winner: Dubai Canal, Harry Bentley, Satish Seemar.

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

Results

2pm: Al Sahel Contracting Company – Maiden (PA) Dh50,000 (Dirt) 1,200m; Winner: AF Mutakafel, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

2.30pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,200m; Winner: El Baareq, Antonio Fresu, Rashed Bouresly

3pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

3.30pm: Keeneland – Handicap (TB) Dh84,000 (D) 1,000m; Winner: Alkaraama, Dane O’Neill, Musabah Al Muhairi

4pm: Keeneland – Handicap (TB) Dh76,000 (D) 1,800m; Winner: Lady Snazz, Saif Al Balushi, Bhupat Seemar

4.30pm: Hive – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer

5pm: Dubai Real Estate Centre – (TB) Handicap Dh64,000 (D) 1,600m; Winner: Lahmoom, Royston Ffrench, Salem bin Ghadayer

The specs
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  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

COMPANY%20PROFILE
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The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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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.”

WWE Evolution results
  • Trish Stratus and Lita beat Alicia Fox and Mickie James in a tag match
  • Nia Jax won a battle royal, eliminating Ember Moon last to win
  • Toni Storm beat Io Shirai to win the Mae Young Classic
  • Natalya, Sasha Banks and Bayley beat The Riott Squad in a six-woman tag match​​​​​​​
  • Shayna Baszler won the NXT Women’s title by defeating Kairi Sane
  • Becky Lynch retained the SmackDown Women’s Championship against Charlotte Flair in a Last Woman Standing match
  • Ronda Rousey retained the Raw Women’s title by beating Nikki Bella
How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Updated: January 16, 2024, 11:09 PM