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The collapse of Syria's army has flooded the country with firearms, pushing Lebanese gun dealers to profit by purchasing cheap guns and smuggling them into Lebanon, security and political sources in Beirut said on Wednesday.
“There is widespread availability of guns in Syria, and they're being sold on the black market for cheap prices. The price of an AK-47, for example, is around $25,” the security source told The National.
“The Lebanese market is flooded with Syrian firearms, as many dealers are travelling to Syria to purchase weapons and smuggle them into Lebanon. The northern region of the country is now full of Syrian arms,” the source explained.
The source added that about 3,000 pieces had already been smuggled through illegal border crossings, especially in the north. “The majority are made in China. They have the Syrian flag printed on them, so the dealers are scratching those off and offering them back in the Lebanese market for around $500 the piece.”
A political source in Beirut confirmed the “sudden flow” of firearms from Syria in recent days, adding that “the state is aware and is worried about the consequences”.
The Ministry of Interior did not immediately respond to requests for comment.
The collapse of the Syrian army has been swift, decisive, and astonishing. In just 12 days, the country has gone from what appeared to be an enduring status quo to the total collapse of the Assad dynasty.
As the rebels looked set to take over Damascus, Lebanon immediately closed all its land border crossings with Syria except for a main one that links Beirut with the Syrian capital. But many of the illegal border crossings, especially in the north, kept running.
Days later, Hayat Tahrir Al Sham, which led the rebel advance that deposed Syrian president Bashar Al Assad, established military control over the main border crossings with Jordan and Lebanon as it consolidated control in Syria, witnesses and rebel commanders told The National.
Lebanon has long struggled with the widespread presence of firearms and weaponry, with the ruling establishment, which has governed since the civil war that lasted between 1975 and 1990, remaining heavily armed. Among the dominant groups is Hezbollah, which fought a prolonged and devastating war with Israel that ended last November following a US-brokered ceasefire.
The security source said that one of the many points of concern is that “almost every armed party in Lebanon is buying from the smuggled weapons”.
Israel's war, coupled with Hezbollah's diminishing power, led to fears of internal strife in Lebanon, as other armed groups might attempt to challenge Hezbollah's dominance. US officials involved in brokering the ceasefire have warned that the possibility of a civil war cannot be ruled out.
On the other hand, Lebanese politicians have been watching the collapse of the Syrian regime with a sense of anxiety. Syria invaded Lebanon in 1976 during the early years of the Lebanese civil war, maintaining an occupation and exerting substantial military and political influence for nearly 30 years before being forced out in 2005.
For decades, the Syrian regime maintained a firm grip on Lebanese affairs, infiltrating almost all facets of life. Top jobs in Lebanon would only go to allies of Damascus and opponents risked assassination, and many of the Syrian regime officials owned properties in Lebanon.
“The situation in Syria is scary. We are expecting internal conflicts, and this is a source of worry for us,” said another Lebanese security source, adding that “some of the security heads who oversee the border crossings with Syria and had good relations with the Syrian regime were replaced by others to avoid any complications”.
The source indicated that, while there has been no official announcement regarding any figures from the Syrian regime relocating to Lebanon following the fall of Damascus, the possibility of some being in Lebanon “is not entirely impossible”.
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Robinhood
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How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
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.
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