I recall the day Rafic Hariri was assassinated 20 years ago as if it were yesterday. Few people have shaped the destiny of their countries like Hariri did for Lebanon. His impact extended far beyond the country, influencing the broader region, and his assassination marked a pivotal moment – a clear demarcation between the pre-Hariri and post-Hariri eras.
Reflecting on the former prime minister’s legacy is a daunting and complex task, especially at a time when opinions diverge sharply. Some blame him for Lebanon’s enduring problems, while others mourn the missed opportunity for a true saviour. A balanced appraisal, however, must weigh his achievements and shortcomings against the backdrop of Lebanon’s deep-rooted political and economic dysfunctions and the volatile geopolitics of the Middle East.
Even before assuming the role of prime minister, Mr Hariri was already instrumental in shaping Lebanon’s future – engaging in critical civil war negotiations, supporting relief efforts after the 1982 Israeli invasion, and establishing scholarship programmes for more than 40,000 Lebanese students.
As prime minister, Mr Hariri pursued an ambitious vision to transform Lebanon into a regional financial hub reminiscent of its pre-war glory. Moreover, his international and regional contacts were unrivalled, affording him unmatched access to influential figures and cementing his role as a key mediator in global diplomacy.
Mr Hariri championed large-scale reconstruction projects, most notably through the creation of Solidere – a master-planned urban redevelopment company that modernised Beirut – and attracted significant international investment. His policies positioned Lebanon as a centre for banking, tourism and services, bolstering the country’s international financial credibility and economic liberalisation.
Yet, this rapid development came at a price. Investment was heavily concentrated in the Greater Beirut area at the expense of the peripheral regions, and the economy became overly reliant on the financial, banking and real estate sectors, while overlooking more productive sectors such as manufacturing and agriculture.
Furthermore, the currency peg to the dollar, initially a necessary and temporary stabilising force, eventually proved unsustainable. Much of Lebanon’s rebuilding was financed by high-interest borrowing, leading to structural debt vulnerabilities. The aggressive financialisation of the economy – marked by high interest rates and an expanding banking sector financing the fiscal deficit – laid the groundwork for a financial crisis decades later. A pivotal moment occurred in 1998 when Lebanon began borrowing in US dollars through Eurobonds, a measure rushed through Parliament with the assistance of Speaker Nabih Berri. This decision increased Lebanon’s dependence on a currency it could not print and sowed the seeds for the default in March 2020.
Most of Mr Hariri’s critics, however, have either attacked him on political and personal grounds or failed to address the core issues. First, Mr Hariri’s most significant misstep was the inability to fully account for Lebanon’s – and the region’s – complex realities. He operated within a deeply entrenched sectarian and clientelist system, where post-Taif governments were populated by people chosen more for loyalty than competence. The pervasive influence of Syria further constrained his policy options.
Second, Mr Hariri’s economic vision was anchored in a broader political bet on regional peace following the Oslo Accords, with the hope that Lebanon would emerge as a stable investment hub in a peaceful Middle East. This optimistic expectation was first dashed by the assassination of then Israeli prime minister Yitzhak Rabin and further undermined by subsequent turmoil, including 9/11 and the Iraq War. Rather than pivoting when circumstances changed, Mr Hariri persisted with his strategy – a course that his political opponents were unwilling to challenge with decisive reforms, as shown by the 1998-2000 government led by prime minister Salim Al Hoss government.
Hariri’s economic vision was anchored in a broader political bet on regional peace
Third, the core of Lebanon’s economic problem lay not merely in the accumulation of debt but in the misallocation of funds. Investments were funnelled into projects with low economic multiplier effects. The promise of post-war reconstruction was originally based on the pledge by Arab countries to disburse $2 billion (equal to $5 billion in today’s dollars) as part of the Taif Agreement’s broader framework for reconstruction and relief – this was not fully realised. Even the lavish development of Solidere – which was meant to revive the centre of Lebanon’s capital after 15 years of being divided by the civil war – was transformed into an exclusive banking and commercial centre that starkly contrasted with its neglected residential surroundings and excluded its original residents.
Fourth, countries recovering from war typically avoid slashing taxes because they need revenue to finance reconstruction. In defiance of both economic theory and natural experiments, Mr Hariri reduced income taxes, further straining limited resources and hindering recovery.
Finally, Mr Hariri’s reluctance to dismantle exclusive commercial agencies or advance progressive legislation such as the Civil Marriage law under pressure from powerful economic groups and religious authorities meant that he did not challenge dominant political blocs that resisted reforms weakening their control.
Today, as Lebanon faces a profound crisis, the collapse of Mr Hariri’s economic model – exacerbated by years of bad policies, mismanagement and institutional decay after his assassination – serves as a stark reminder that economic policy cannot be separated from politics. Although a full return to his model is unrealistic and undesirable, selective lessons remain vital.
Pragmatic diplomacy, investment attraction and international engagement are crucial, but current Prime Minister Nawaf Salam must also confront the persistent perils of political patronage that has long hindered the development of a robust, merit-based public sector.
Moving forward, Lebanon urgently requires a sustainable and diversified economic model anchored in structural reforms, industrial development and a revamped financial system. Yet, the path to meaningful reform is complicated by a legislative environment where MPs often prioritise populist strategies and short-term gains over transformative, long-term change. It is, therefore, imperative for the current Cabinet to secure a limited-time legislative mandate on specific issues.
Ultimately, while Mr Hariri’s vision did help modernise Lebanon and position it as a regional hub, policies under his tenure cannot be divorced from the political context that both enabled and constrained them. The current crisis is not solely a failure of economic strategy but reflects a broader systemic collapse within Lebanon’s governance structures.
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Four tips to secure IoT networks
Mohammed Abukhater, vice president at FireEye in the Middle East, said:
- Keep device software up-to-date. Most come with basic operating system, so users should ensure that they always have the latest version
- Besides a strong password, use two-step authentication. There should be a second log-in step like adding a code sent to your mobile number
- Usually smart devices come with many unnecessary features. Users should lock those features that are not required or used frequently
- Always create a different guest network for visitors
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
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Meydan race card
6.30pm: Maiden; Dh165,000; (Dirt) 1,200m
7.05pm: Handicap; Dh170,000; (D) 1,200m
7.40pm: Maiden; Dh165,000; (D) 1,900m
8.15pm: Handicap; Dh185,000; (D) 2,000m
8.50pm: Handicap; Dh185,000; (D) 1,600m
9.25pm: Handicap; Dh165,000; (D) 2,000m
UAE currency: the story behind the money in your pockets
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape
Results
4pm: Al Bastakiya – Listed (TB) $150,000 (Dirt) 1,900m; Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
4.35pm: Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m; Winner: Walton Street, William Buick, Charlie Appleby
5.10pm: Mahab Al Shimaal – Group 3 (TB) $228,000 (D) 1,200m; Winner: Canvassed, Pat Dobbs, Doug Watson
5.45pm: Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m; Winner: Midnight Sands, Pat Dobbs, Doug Watson
6.20pm: Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m; Winner: Lord Glitters, Daniel Tudhope, David O’Meara
6.55pm: Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
7.30pm: Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m; Winner: Final Song, Frankie Dettori, Saeed bin Suroor
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
if you go
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
Health Valley
Founded in 2002 and set up as a foundation in 2006, Health Valley has been an innovation in healthcare for more than 10 years in Nijmegen, the Netherlands.
It serves as a place where companies, businesses, universities, healthcare providers and government agencies can collaborate, offering a platform where they can connect and work together on healthcare innovation.
Its partners work on technological innovation, new forms of diagnostics and other methods to make a difference in healthcare.
Its agency consists of eight people, four innovation managers and office managers, two communication advisers and one director. It gives innovation support to businesses and other parties in its network like a broker, connecting people with the right organisation to help them further
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The biog
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland
UAE currency: the story behind the money in your pockets
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Abu Dhabi Grand Slam Jiu-Jitsu World Tour Calendar 2018/19
July 29: OTA Gymnasium in Tokyo, Japan
Sep 22-23: LA Convention Centre in Los Angeles, US
Nov 16-18: Carioca Arena Centre in Rio de Janeiro, Brazil
Feb 7-9: Mubadala Arena in Abu Dhabi, UAE
Mar 9-10: Copper Box Arena in London, UK
