BEIRUT // Lebanon on Monday received the first instalment of US$3 billion (Dh11bn) worth of French weapons paid for by Saudi Arabia, part of a four-year plan to help arm Beirut in its battle against militant groups.
French defence minister Jean-Yves Le Drian accompanied the first supply of weapons, including anti-tank guided missiles, which were handed over at an air force base in Beirut.
“France and Lebanon have a fraternal relationship that has been marked over the past three years by a sharp deterioration in the security situation in the Levant, which has become an existential threat to the region,” Mr Le Drian said.
The deal aims to boost Lebanon’s military as it struggles to contain a rising tide of violence linked to the civil war in neighbouring Syria.
“Lebanon is under unprecedented pressure [from extremist groups] ... and this makes border control vital for its security,” he added.
“In this critical context, it is therefore essential that Lebanon’s friends and allies mobilise to contribute to its security and stability.”
Over the next four years, France is expected to deliver to Lebanon 250 combat and transport vehicles, seven Cougar helicopters, three small warships and a range of surveillance and communications equipment.
The entire $3bn cost of the programme is being borne by Saudi Arabia.
Riyadh is eager to bolster Lebanon’s army to take on militant groups like ISIL and the Al Qaeda affiliate Al Nusra Front, instead of leaving the job to Iran-backed Hizbollah.
The contract includes seven years of training for the 70,000-strong Lebanese army and 10 years of equipment maintenance.
At the ceremony on Monday, Lebanon’s defence minister Samir Mokbel welcomed the delivery, saying the country’s fight against extremism was a common battle.
“Lebanon’s victory against terrorism is a victory to all nations threatened by terrorism,” Mr Moqbel said.
He thanked Saudi Arabia for financing the weapons delivery and France for “its deep understanding of all the threats that Lebanon faces, whether militarily at the border, or internally with the influx of refugees that threatens general stability”.
The weapons deal comes as Lebanon’s army battles to hold back the spillover from the conflict in neighbouring Syria.
A Lebanese army general said Monday’s shipment included modern anti-tank guided Milan missiles, saying they will be a “turning point” in the army’s performance.
In the past year, Lebanese soldiers have repeatedly battled extremists from both ISIL and Al Nusra along the border with Syria.
Last August, extremist fighters from the two groups briefly overran the Lebanese border town of Arsal, seizing several dozen Lebanese soldiers and police.
The groups have since executed four of the hostages, with a fifth dying of wounds he sustained during the fighting. They are still holding 25 Lebanese.
The conflict in Syria has exacerbated sectarian tensions in Lebanon, and the influx of more than one million refugees has tested its limited resources.
* Associated Press and Agence France-Presse
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
RESULTS
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
COMPANY%20PROFILE
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COMPANY%20PROFILE%20
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FORSPOKEN
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Company%20of%20Heroes%203
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Star%20Wars%20Jedi%3A%20Survivor
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Suicide%20Squad%3A%20Kill%20the%20Justice%20League
%3Cp%3EDeveloper%3A%20Rocksteady%20Studios%0D%3Cbr%3EPublisher%3A%20Warner%20Bros%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%0D%3Cbr%3ERelease%20date%3A%20May%3C%2Fp%3E%0A
Final%20Fantasy%20XVI
%3Cp%3EDeveloper%3A%20Square%20Enix%0D%3Cbr%3EPublisher%3A%20Square%20Enix%0D%3Cbr%3EConsole%3A%20PS5%0D%3Cbr%3ERelease%20date%3A%20June%3C%2Fp%3E%0A
Street%20Fighter%206
%3Cp%3EDeveloper%3A%20Capcom%0D%3Cbr%3EPublisher%3A%20Capcom%0D%3Cbr%3EConsole%3A%20PS5%2C%20XSX%2C%20PC%0D%3Cbr%3ERelease%20date%3A%20June%3C%2Fp%3E%0A
Diablo%20IV
%3Cp%3EDeveloper%3A%20Blizzard%20Entertainment%0D%3Cbr%3EPublisher%3A%20Blizzard%20Entertainment%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%0D%3Cbr%3ERelease%20date%3A%20June%3C%2Fp%3E%0A
Baldur's%20Gate%203
%3Cp%3EDeveloper%3A%20Larian%20Studios%0D%3Cbr%3EPublisher%3A%20Larian%20Studios%0D%3Cbr%3EConsole%3A%20PC%0D%3Cbr%3ERelease%20date%3A%20August%3C%2Fp%3E%0A
The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
%3Cp%3EDeveloper%3A%20Nintendo%0D%3Cbr%3EPublisher%3A%20Nintendo%0D%3Cbr%3EConsole%3A%20Nintendo%20Switch%0D%3Cbr%3ERelease%20date%3A%20September%3C%2Fp%3E%0A
Marvel's%20Spider-Man%202
%3Cp%3EDeveloper%3A%20Insomniac%20Games%0D%3Cbr%3EPublisher%3A%20PlayStation%0D%3Cbr%3EConsole%3A%20PS5%0D%3Cbr%3ERelease%20date%3A%20Fall%3C%2Fp%3E%0A
Assassin's%20Creed%20Mirage
%3Cp%3EDeveloper%3A%20Ubisoft%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%2C%20Amazon%20Luna%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Klipit%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Venkat%20Reddy%2C%20Mohammed%20Al%20Bulooki%2C%20Bilal%20Merchant%2C%20Asif%20Ahmed%2C%20Ovais%20Merchant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Digital%20receipts%2C%20finance%2C%20blockchain%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%244%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Privately%2Fself-funded%3C%2Fp%3E%0A
RESULTS
5pm: Sweihan – Handicap (PA) Dh80,000 (Turf) 2,200m
Winner: Shamakh, Fernando Jara (jockey), Jean-Claude Picout (trainer)
5.30pm: Al Shamkha – Maiden (PA) Dh80,000 (T) 1,200m
Winner: Daad, Dane O’Neill, Jaber Bittar
6pm: Shakbout City – Maiden (PA) Dh80,000 (T) 1,200m
Winner: AF Ghayyar, Tadhg O’Shea, Ernst Oertel
6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,200m
Winner: Gold Silver, Sandro Paiva, Ibrahim Aseel
7pm: Masdar City – Handicap (PA) Dh80,000 (T) 1,400m
Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel
7.30pm: Khalifa City – Maiden (TB) Dh80,000 (T) 1,400m
Winner: Ranchero, Patrick Cosgrave, Bhupat Seemar
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Cargoz%3Cbr%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%20January%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Premlal%20Pullisserry%20and%20Lijo%20Antony%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2030%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A