Lebanon's economic crisis is plunging the vast majority of the population into poverty. Reuters
Lebanon's economic crisis is plunging the vast majority of the population into poverty. Reuters
Lebanon's economic crisis is plunging the vast majority of the population into poverty. Reuters
Lebanon's economic crisis is plunging the vast majority of the population into poverty. Reuters


Lebanon needs more than foreign friends to save itself


  • English
  • Arabic

January 26, 2022

It is rare for anyone to rob their own bank account. But a stick-up this week in Jeb Jannine, in Lebanon’s Bekaa Valley, involved just that. Abdallah Assaii, a local coffee shop owner, took seven bank employees hostage in order to withdraw $50,000 of his savings, a previously unremarkable act that is becoming increasingly difficult as the country’s economic crisis has seen banks impose informal capital controls. Mr Assaii’s hostages were eventually released uninjured, and his actions have rallied support from many impoverished Lebanese. While the threat of violence and criminal action cannot be condoned, this incident highlights how troubled Lebanon is and how feeble its state has become.

The Lebanese pound has lost about 90 per cent of its value on the black market during the past two years, and four in five in the country are estimated by the UN to live below the poverty line.

Lebanon needs all the friends and support it can get if it is even to ponder a recovery. That is why the visit of Kuwait’s foreign minister, Sheikh Ahmad Nasser Al Mohammad Al Sabah, on Saturday was good news. It was the first trip by a Gulf official to Beirut since a diplomatic rift emerged between Lebanon and the GCC last year, after a senior Lebanese minister made controversial comments relating to the conflict in Yemen.

Sheikh Ahmad has now made the most optimistic comments yet that the damaging episode could be on the mend. In response, Lebanese President Michel Aoun said that his country was keen to maintain “the best relations”. Relations with the Gulf are of major consequence to Lebanon. The Gulf has supported the country for years politically, diplomatically and economically. It sends billions of dollars in aid to Lebanon, is a key trade partner and hosts a huge number of Lebanese expatriates.

The visit was an important step in confidence-building, and a gesture, in the words of Sheikh Ahmad, “to help bring Lebanon out of all that it is going through”. Also this week, Lebanon’s politicians and diplomats are being offered another avenue for international support, as the country began long-delayed talks on Monday with the International Monetary Fund to secure a financial rescue package.

But no matter how good the will of the international community might be, its efforts may amount to little if the rotten domestic political situation fails to progress. This week, the situation was further complicated after three-time prime minister Saad Hariri said Monday that he would be withdrawing from politics. The move leaves Lebanon’s Sunni Muslim community, one of the country’s biggest voting blocs, rudderless.

A new political vacuum will have its own stunting effect on securing progress at such a key diplomatic, social and economic moment for the country. As riots continue to break out, the most recent taking place outside the country’s central bank on Sunday, keeping today’s momentum is particularly important.

In an emotional resignation speech, Mr Hariri referenced the “project” of his father, Rafik Hariri, also a prime minister, as one of “stopping the civil war in Lebanon, and building a better life for the Lebanese”. The elder Hariri, who was assassinated in 2005, would not see his hopes realised in today’s Lebanon, even with the ongoing support of international friends, spanning the Gulf to multilateral organisations. Politicians might come and go, but until corruption and mismanagement in the political system are rooted out, the crisis will stay, and for the dispossessed, the most popular new heroes might increasingly resemble Abdallah Assaii.

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
57%20Seconds
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Story%20behind%20the%20UAE%20flag
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Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

While you're here
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
On Instagram: @WithHopeUAE

Although social media can be harmful to our mental health, paradoxically, one of the antidotes comes with the many social-media accounts devoted to normalising mental-health struggles. With Hope UAE is one of them.
The group, which has about 3,600 followers, was started three years ago by five Emirati women to address the stigma surrounding the subject. Via Instagram, the group recently began featuring personal accounts by Emiratis. The posts are written under the hashtag #mymindmatters, along with a black-and-white photo of the subject holding the group’s signature red balloon.
“Depression is ugly,” says one of the users, Amani. “It paints everything around me and everything in me.”
Saaed, meanwhile, faces the daunting task of caring for four family members with psychological disorders. “I’ve had no support and no resources here to help me,” he says. “It has been, and still is, a one-man battle against the demons of fractured minds.”
In addition to With Hope UAE’s frank social-media presence, the group holds talks and workshops in Dubai. “Change takes time,” Reem Al Ali, vice chairman and a founding member of With Hope UAE, told The National earlier this year. “It won’t happen overnight, and it will take persistent and passionate people to bring about this change.”

The%20Iron%20Claw
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Sean%20Durkin%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Zac%20Efron%2C%20Jeremy%20Allen%20White%2C%20Harris%20Dickinson%2C%20Maura%20Tierney%2C%20Holt%20McCallany%2C%20Lily%20James%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

The biog

From: Ras Al Khaimah

Age: 50

Profession: Electronic engineer, worked with Etisalat for the past 20 years

Hobbies: 'Anything that involves exploration, hunting, fishing, mountaineering, the sea, hiking, scuba diving, and adventure sports'

Favourite quote: 'Life is so simple, enjoy it'

Alita: Battle Angel

Director: Robert Rodriguez

Stars: Rosa Salazar, Christoph Waltz, Keean Johnson

Four stars

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

RACECARD

6pm Emaar Dubai Sprint – Conditions (TB) $60,000 (Turf) 1,200m

6.35pm Graduate Stakes – Conditions (TB) $100,000 (Dirt) 1,600m

7.10pm Al Khail Trophy – Listed (TB) $100,000 (T) 2,810m

7.45pm UAE 1000 Guineas – Listed (TB) $150,000 (D) 1,600m

8.20pm Zabeel Turf – Listed (TB) $100,000 (T) 2,000m

8.55pm Downtown Dubai Cup – Rated Conditions (TB) $80,000 (D) 1,400m

9.30pm Zabeel Mile – Group 2 (TB) $180,000 (T) 1,600m

10.05pm Dubai Sprint – Listed (TB) $100,000 (T) 1,200m 

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Company%20profile
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%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EGlobal%20Islamic%20economy%20to%20grow%203.1%25%20to%20touch%20%242.4%20trillion%20by%202024%3C%2Fa%3E%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fuk-economy-plunges-into-worst-ever-recession-after-record-20-4-contraction-1.1062560%22%20target%3D%22_self%22%3EUK%20economy%20plunges%20into%20worst-ever%20recession%20after%20record%2020.4%25%20contraction%3C%2Fa%3E%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EIslamic%20economy%20consumer%20spending%20to%20increase%2045%25%20to%20%243.2tn%20by%202024%3C%2Fa%3E%3C%2Fp%3E%0A
%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Men from Barca's class of 99

Crystal Palace - Frank de Boer

Everton - Ronald Koeman

Manchester City - Pep Guardiola

Manchester United - Jose Mourinho

Southampton - Mauricio Pellegrino

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Stamp%20duty%20timeline
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Updated: January 27, 2022, 6:05 PM`