Lebanese Foreign Minister Abdallah Bouhabib was meeting foreign ministers from the Gulf in Kuwait. EPA
Lebanese Foreign Minister Abdallah Bouhabib was meeting foreign ministers from the Gulf in Kuwait. EPA
Lebanese Foreign Minister Abdallah Bouhabib was meeting foreign ministers from the Gulf in Kuwait. EPA
Lebanese Foreign Minister Abdallah Bouhabib was meeting foreign ministers from the Gulf in Kuwait. EPA

Lebanon foreign minister: disarming Hezbollah is a red line


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Lebanon’s foreign minister arrived in Kuwait on Saturday to give answers to a list of policy suggestions made to the country by Gulf states.

Before setting off from Beirut, Foreign Minister Abdallah Bouhabib made it clear that Lebanon would not disarm the Iran-funded Hezbollah group, one of 10 confidence-building measures that have been requested.

I am not going to hand over Hezbollah’s weapons nor end Hezbollah’s existence. This is out of the question in Lebanon
Lebanese Foreign Minister Abdallah Bouhabib

Relations between impoverished Lebanon and the wealthy Gulf states are at their lowest levels in decades. A crisis erupted late last year when a Lebanese politician spoke critically of the Saudi-led war against Iran-backed rebels in Yemen.

Following information minister George Kordahi's comments, Saudi Arabia recalled its ambassador from Beirut and halted all Lebanese imports, affecting hundreds of businesses and cutting off hundreds of millions in foreign currency flows to Lebanon. Several Gulf countries also recalled their ambassadors.

Mr Bouhabib will attend a meeting of foreign ministers in Kuwait on Sunday during which he will hand his Kuwaiti equivalent Sheikh Ahmed Nasser Al Mohammed Al Sabah official responses to the Gulf nations’ suggestions. The Kuwaiti foreign minister had delivered them personally to Beirut earlier this month.

“I am not going to hand over Hezbollah’s weapons nor end Hezbollah’s existence. This is out of the question in Lebanon,” Mr Bouhabib said in televised remarks, calling the group a “Lebanese party par excellence” that is active in the government but does not dominate politics in Lebanon.

“We hope to have excellent relations as in the past [with Gulf nations]," Mr Bouhabib said. Lebanon had suggestions for solving problems between the two sides, he said.

The list handed over by Kuwait’s foreign minister and circulated in Lebanese media included implementing US Security Council resolution 1559, which calls for the disarmament of all militias in Lebanon. Major anti-corruption reforms should be implemented and all verbal or real attacks on Gulf nations should cease.

Mr Bouhabib said Lebanon respected international resolutions, but said time was needed.

Mr Kordahi, who made his comments before taking his post, resigned in December, but the move did not lead to improved relations between the two sides.

UAE currency: the story behind the money in your pockets
Temple numbers

Expected completion: 2022

Height: 24 meters

Ground floor banquet hall: 370 square metres to accommodate about 750 people

Ground floor multipurpose hall: 92 square metres for up to 200 people

First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time

First floor terrace areas: 2,30 square metres  

Temple will be spread over 6,900 square metres

Structure includes two basements, ground and first floor 

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Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

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Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair

Dean Ambrose won the Intercontinental title against Seth Rollins

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Iran's dirty tricks to dodge sanctions

There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.

1 Going Dark

A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.

2. Ship-to-Ship Transfers

A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.

3. Fake Destinations

Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.

4. Rebranded Barrels

Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.

* Bloomberg

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Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

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UAE currency: the story behind the money in your pockets
The Year Earth Changed

Directed by:Tom Beard

Narrated by: Sir David Attenborough

Stars: 4

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What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Updated: January 30, 2022, 6:39 AM