Lebanese soldiers gesture while riding on an armoured vehicle as they leave the mountainous border town of Ras Baalbek. Reuters
Lebanese soldiers gesture while riding on an armoured vehicle as they leave the mountainous border town of Ras Baalbek. Reuters

US policymakers need to tread carefully over the Lebanese situation



Crunch time is approaching for Hizbollah, the Lebanese militia group. Politicians in the US Congress will vote, possibly today, on whether to impose stricter sanctions on the organisation, which was designated a terrorist group by the US some 20 years ago. Such an action would fit neatly into Donald Trump's stated aim to get tough on Iran, Hizbollah's backer. Unveiled earlier this month, his strategy document promised to focus on neutralising "Iran's destabilising influence and constraining its aggression, particularly its support for terrorism and militants." Last month, Nikki Haley, US ambassador to the UN, said the "clouds or war" were gathering, suggesting a conflict between Hizbollah and Israel was fast approaching.

As The National reported, Lebanon's army commander, Gen Joseph Aoun, has travelled to the US to meet his military counterparts at the Pentagon. He is due to discuss American assistance for counter-terrorism operations against ISIL, as well as a military hardware order and the general aid package that is extended to the Lebanese army by the US. He is also expected to meet at least two Congressional committees. His trip is well-timed and should help provide much-needed nuance for US policymakers and military men.

His visit arrives shortly after Avigdor Lieberman, Israel's rarely less than controversial defence minister, stated that the Lebanese army was an integral part of Hizbollah. While his comments were not only inaccurate, they were also dangerous and only serve to stoke misconceptions that too often find their way into policy positions in the international community.

Those who believe in Mr Lieberman's erroneous rhetoric will no doubt point to events in Arsal earlier this year, when the Lebanese army and Hizbollah worked together to push Hayat Tahrir Al Sham, the Al Qaeda affiliate, out of the area. The incident caused some discomfort in Lebanese officialdom and political spheres, who felt it was the responsibility of the army rather than an Iranian proxy force to deal with an extremist threat in their own backyard. The actions also helped to give traction to the reductive argument that such incidents demonstrate that the army and Hizbollah are one. The reality of the Arsal situation – a marriage of convenience that was brought into being to drive out a mutual enemy – was all but flattened in the rush to condemn the army.

Michael Young argued on these pages last week that Lebanon is a "house of many mansions", with a complex network of power arrangements and allegiances at work. US policymakers would be wise to reflect on those words. While Israel appears intent on banging the drums of conflict by rolling out a view of Lebanon that bears little basis in reality, Congress must see through that bluster. Few in this region oppose Mr Trump's new combative strategy on Iran and its proxies, including Hizbollah, but that effort must not be used to target the Lebanese people or its army.

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

COMPANY%20PROFILE
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
'Nope'
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MEDIEVIL%20(1998)
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Villains
Queens of the Stone Age
Matador

Brief scores:

Day 2

England: 277 & 19-0

West Indies: 154

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

BRIEF SCORES

England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)  
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)

Result: England won by 239 runs
England lead four-match series 2-1

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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 protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

Director: Jon Favreau

Starring: Donald Glover, Seth Rogen, John Oliver

Rating: 2 out of 5 stars

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

Abu Dhabi World Pro 2019 remaining schedule:

Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm

Thursday April 25:  Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm

Friday April 26: Finals, 3-6pm

Saturday April 27: Awards ceremony, 4pm and 8pm

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Basquiat in Abu Dhabi

One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi. 

The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier. 

It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.  

“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi. 

Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October