BEIRUT // Security forces were on alert in Lebanon as the country, torn by conflicting attitudes towards the uprising in Syria and its own sectarian divide, prepared to receive Pope Benedict XVI today.
"The security agencies are on alert and the municipal services are on alert for the pope's visit, which will be one of the most successful visits in the history of modern Lebanon," said Marwan Charbel, the interior minister.
"There is no doubt we are living in a tough atmosphere in Lebanon, to some extent as a result of what is happening in Syria and what is happening around us, but the situation is under control ... and Lebanon is a stable country."
Cross-border shelling and shootings from Syria have become near-daily occurrences in recent months.
And there have been sporadic, deadly clashes in the port city of Tripoli between supporters and opponents of Syria's president, Bashar Al Assad.
But there is no danger of the pope being exposed to either of those potential risks.
During his visit, Pope Benedict will be moving only between Beirut - on the Mediterranean coast and 83 kilometres from Tripoli - and mountain villages just outside the capital.
He will also be nearly as far from the Syrian border.
Last month, a Jesuit priest who was recently forced to leave Syria over his support for the anti-Assad uprising, warned that the pope's safety could be at risk.
The pope "must ask for help from a secret service that can guarantee his security, because the Lebanese services are not sufficient in this situation", Father Paolo Dall'Oglio said.
But the Vatican stressed in August that the repercussions of the Syrian crisis and the kidnappings in Lebanon will not affect the pontiff's visit, his third to the region since becoming pope in 2005. He travelled to Israel and the Palestinian territories in 2009 and Cyprus the following year.
According to Mr Charbel, "every security apparatus will execute its role" to safeguard the first papal visit since the late pope John Paul II came to Lebanon in 1997.
The authorities have already "put the finishing touches" on a special security plan for the visit, which has been under preparation for the past three weeks, Mr Charbel said.
"Members of the intelligence and security forces have arrived from Italy in order to coordinate with one another and get an idea of the precautions that we have taken," he said, stressing that "the security forces will operate in coordination with the private security agencies of the pope".
The Maronite Christian Patriarch, Bishara Rai, said yesterday that not only the Lebanese state, but also international secret services and Lebanese intelligence agencies, will cooperate to prevent any possible attack.
And Father Abdo Abou Kasm, the visit's media coordinator, said last week that "all Lebanese security organisations are on a state of alert".
Addressing the tensions in the country, Fr Abou Kasm said the "fears surrounding the visit are out of place". He added: "All the communities welcome the pope's visit, both Muslim and Christian."
Yesterday, Naim Qassem, Hizbollah's deputy leader, received a delegation from the organising committee.
Mr Qassem emphasised that he welcomed the visit and that Hizbollah would participate in various receptions and meetings during it.
He urged all Lebanese to welcome the pope to show religious unity "away from any politics".
The pope is expected to arrive at Beirut's Rafiq Hariri International Airport this afternoon and travel to Harissa, where he will be staying.
The pope returns to Rome on Sunday evening.
Mr Charbel said all roads used by the pope will be closed to cars, and the army has announced that air traffic in the vicinity of the papal residence in Harissa would be forbidden from September 7 to17.
The army also warned there would be a "strict application of the decision ... to revoke all permits for carrying weapons in various Lebanese regions except for the bodyguards" of political and religious figures.
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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MATCH INFO
AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
The%20specs
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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
KILLING OF QASSEM SULEIMANI
Killing of Qassem Suleimani
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Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
Try out the test yourself
Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer
Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer
Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer
The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania.
Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).
The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre
The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
Company%20profile
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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.”
UAE currency: the story behind the money in your pockets
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
