Lebanon's Prime Minister Nawaf Salam on Saturday ordered the arrest of armed men who took part in a religious gathering in Beirut.
Videos circulated online showed hundreds of people gathered in the Lebanese capital to mark Ashura, the commemoration by Shiite Muslims of the death of the Prophet Mohammed's grandson, Imam Hussein bin Ali, in the 7th century.
Men dressed in black and carrying automatic weapons are seen leading chants of the Imam's name and carrying red banners that said "Ya Hussein". They are suspected to be supporters of Hezbollah, the Iran-backed Shiite armed group and political party.
“I have contacted the Ministers of Interior and Justice and requested them to take all necessary measures to enforce the applicable laws, arrest the perpetrators, and refer them for investigation,” Mr Salam said on X.
The Prime Minister said “armed demonstrations in Beirut are unacceptable under any pretext, shape or form".
Member of Parliament Ghassan Hasbani, a former deputy prime minister, said the government had to take a firm stance against the show of weapons in the capital, especially during demonstrations.
Security officials must enforce laws, confiscate weapons, and arrest those carrying them, Mr Hasbani said in a television interview on Friday evening.
Ashura commemorations in Beirut are usually held in its southern suburbs, the area known as Dahieh that is home to many Shiite Muslims and where Hezbollah enjoys strong support. The gatherings draw large crowds and are seen as a demonstration by Hezbollah of its strong following.
Another member of Parliament, Ibrahim Mneimneh, said holding weapons in areas across in Beirut is "unjustifiable".
"We call on the judiciary and security authorities to act immediately and arrest everyone that appeared in the online videos and refer them to investigation," he said on X.
"Beirut, today more than ever is in dire need of enforcing security and the removal of weapons outside the state control," he said.
The Ashura commemorations this year come as Hezbollah is under pressure to disarm as the government seeks to remove weapons from all non-state actors. The group's top political and military leadership was killed and a large part of its arsenal destroyed during more than a year of war with Israel that ended with a ceasefire agreement in November. Under the terms of the US-brokered truce, all armed groups in Lebanon must disarm.
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
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Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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Nov 27 2020: PM gives speech at leaving do for his staff
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Sholto Byrnes on Myanmar politics
