The US Treasury Department announced another set of sanctions on Hezbollah financiers this week, designating on Friday a funding network based in Zambia and Lebanon.
Adnan Ayad and Adel Diab have been accused of helping fund Hezbollah's operations through 10 companies reportedly in their network and financing “corrupt patronage” in Lebanon as a way of navigating the country's economic crisis.
“Today’s action exposes and targets Hezbollah’s misuse of the international financial system to raise and launder funds for its destabilising activities as the Lebanese people suffer during an unprecedented economic crisis,” said Brian Nelson, under secretary of the Treasury for terrorism and financial intelligence.
Mr Ayad and Mr Diab have been accused of “having materially assisted, sponsored or provided financial, material or technological support for, or goods or services” to Hezbollah. Their sons, Jihad Ayad and Ali Diab, were also designated.
Two of the companies named in the sanctions, Hamer and Nail Construction Limited and Hamidco Investment Limited, are based in Zambia and have been reportedly used to funnel financial and technological support to Mr Ayad.
The rest of the companies are based in Lebanon and include engineering, construction, fashion and industrial entities that are part of Mr Ayad and Mr Diab’s Hezbollah-supporting network.
Friday’s sanctions come only three days after the US designated three Hezbollah financiers that included Mr Diab and a travel company.
US Secretary of State Antony Blinken said the actions are “in solidarity with the Lebanese people, whose security and sovereignty remains threatened by Hezbollah's corrupt and destabilising activities".
“As the Lebanese people suffer an economic crisis of historic proportions, Hezbollah continues to engage in illicit activity and amass wealth at the expense of the Lebanese people,” Mr Blinken said on Tuesday.
He accused the militant group of being “more concerned with advancing their own interests and those of their patron, Iran, than the best interests of the Lebanese people".
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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
Stuck in a job without a pay rise? Here's what to do
Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.
“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”
Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.
Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.
“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”
For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.
“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
South and West: From a Notebook
Joan Didion
Fourth Estate
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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