Syrian forces raided a suspected Hezbollah cell in the Damascus suburbs. Photo: Syrian Interior Ministry
Syrian forces raided a suspected Hezbollah cell in the Damascus suburbs. Photo: Syrian Interior Ministry
Syrian forces raided a suspected Hezbollah cell in the Damascus suburbs. Photo: Syrian Interior Ministry
Syrian forces raided a suspected Hezbollah cell in the Damascus suburbs. Photo: Syrian Interior Ministry

Syria seizes rockets in raid on Hezbollah cell


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Syria has arrested members of Hezbollah in a raid against the militant group that supported the former regime of Bashar Al Assad in Damascus.

Rocket launchers and ammunition were seized from a suspected Hezbollah cell in the Damascus suburbs. The cell was broken up after "close monitoring" by Syria's new authorities under President Ahmad Al Shara, the Interior Ministry said.

It alleged that members of the cell had been trained in Lebanon, Hezbollah's base, and were planning to "carry out operations inside Syrian territory". Several people were arrested in what authorities called a "high-precision operation" in the towns of Sasa and Kanaker.

Hezbollah denied the allegations. The group "has no presence or activity on Syrian territory, and is keen to ensure the stability of Syria and the security of its people", it said.

Syria said the haul of weapons included 19 Grad rockets, a Soviet-era weapon used by Iran and allies such as Hezbollah and Hamas. It also contained rocket launchers, anti-armour missiles, small arms and ammunition, Syrian authorities said.

The case "has been referred to the relevant authorities for further legal action," said Brig Gen Ahmad Al Dalati, the commander of security forces near Damascus. He said authorities "continue to investigate the detainees to uncover their full connections and objectives".

Syrian authorities said weapons and ammunition were seized from Hezbollah members. Photo: Syrian Interior Ministry
Syrian authorities said weapons and ammunition were seized from Hezbollah members. Photo: Syrian Interior Ministry

Hezbollah fought on behalf of the Assad government during the Syrian civil war that began in 2011. But as Hezbollah reeled from a war with Israel last year, it could not rescue Mr Al Assad from being overthrown in a rebel offensive in December.

The Hezbollah leader Naim Qassem initially signalled an open mind towards Syria's new rulers, saying Hezbollah "cannot judge these new forces until they stabilise". But Mr Al Shara's government has since accused Hezbollah of working with traffickers of drugs and weapons at the Lebanese border.

Mr Al Shara's government is battling to reassert central control of Syria after several armed groups carved out patches of territory during the war. It has also embarked on a manhunt for Assad regime loyalists, with several arrested.

But Mr Al Shara's consolidation drive has been beset by problems such as clashes with Kurdish fighters and violence in the southern Sweida province, the heartland of the Druze minority. Israel bombed Damascus in July in response to a government offensive in Sweida.

Hezbollah is meanwhile resisting a plan by Lebanon's government to take away its weapons, under pressure from the US and Israel.

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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.”

Updated: September 11, 2025, 1:11 PM