On this day five years ago, Lebanon experienced a traumatic event that arguably became the defining moment for an entire generation. Although the country is no stranger to tragedy, the detonation of nearly 3,000 tonnes of improperly stored ammonium nitrate at Beirut port continues to cast a shadow over Lebanon and its people.
The blast, which killed more than 220, injured thousands more and flattened large parts of the capital, continues to stir up painful feelings and visceral reactions among many Lebanese and those who love Lebanon. Although the country has gone through the anguish of foreign occupation, Israeli bombardment and civil war, the explosion of August 4, 2020, remains unique in its significance.
This is because it sums up so much of the Lebanese experience in recent times: chronic mismanagement; a lack of transparency; poor governance; a cavalier attitude to citizens’ well-being as well as attempts to achieve accountability being hampered by obfuscation and delay. Five years on from one of the largest non-nuclear explosions in history, no high-ranking officials have been convicted in connection with the blast.
The failure to prosecute those responsible for such a catastrophe has repercussions that reach far beyond the frustration of the victims’ families. A pervasive sense that the country is on the wrong path led many young Lebanese to reluctantly pack their bags and leave for opportunities abroad. One of them, architect Grace Dergham, recently told The National how, when she left in July 2021, she did so to support her parents because she was “starting to lose hope in the country”.
This is not to overlook the efforts currently under way to put the country on the right path. On Friday, The National reported that tighter regulations concerning the shipping, handling and storage of goods have been introduced in Lebanon to prevent such a tragedy from happening again. That the country now has a functioning presidency and parliament is also an important step forward. And despite many setbacks – including political interference, legal challenges and the removal of lead investigators – a judicial investigation into the blast is continuing.
Five years on from one of the largest non-nuclear explosions in history, no high-ranking officials have been convicted in connection with the blast
Nevertheless, much remains to be done. Beirut port, which suffered extensive damage, has not resumed full operations. Housing, transport and cultural assets, including many religious and archaeological sites and national monuments, remain badly affected. And other issues have emerged to compound these challenges, such as the overspill from the Gaza war and a persistent financial crisis. But there are also faint signs that things may be slowly improving; a World Bank report released on June 19 found that Lebanon’s real gross domestic product was projected to grow by 4.7 per cent this year “supported by anticipated reform progress, a recovery in tourism and consumption and limited capital inflows”.
What shines through is the spirit of the Lebanese people, who have demonstrated resilience and determination despite the physical and emotional hurt stemming from the blast and its aftermath. But they should not have to be so resilient. What they want – a better future and a fair, functioning country – is right and just. Therefore, it is the job of the government, the judiciary as well as Lebanon’s political and business classes to draw a line under the devastating 2020 explosion by achieving accountability and rebuilding trust in the country’s institutions. A failure to do so will dog Lebanon’s leaders for years to come and take away the opportunity to meet its people's aspirations.
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UAE currency: the story behind the money in your pockets
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Brief scores:
Manchester City 3
Bernardo Silva 16', Sterling 57', Gundogan 79'
Bournemouth 1
Wilson 44'
Man of the match: Leroy Sane (Manchester City)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
The years Ramadan fell in May
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
