{"id":244106,"date":"2025-12-21T09:56:14","date_gmt":"2025-12-21T09:56:14","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/244106\/"},"modified":"2025-12-21T09:56:14","modified_gmt":"2025-12-21T09:56:14","slug":"lebanon-drafts-long-awaited-banking-law-to-meet-funding-shortfalls-in-financial-system","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/244106\/","title":{"rendered":"Lebanon drafts long-awaited banking law to meet funding shortfalls in financial system"},"content":{"rendered":"<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-0-D3EQYEUAOFGCRILD6MD5SYYENA\">Lebanese Prime Minister Nawaf Salam said on Friday that the government had put forward \u200ba long-awaited banking draft bill that distributes losses from the 2019 economic crisis between banks and the state. <\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-1-GQDBAS4CWVDRTEI36ENPEURXTI\">The draft law had been demanded by the international community, which has made financial reforms a condition of economic aid to Lebanon.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-3-4IBOLD4L3ZDRNFVZXXXF6XVAI4\">In a televised speech, <a href=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/03\/israel-lebanon-direct-talks\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/03\/israel-lebanon-direct-talks\/\">Mr Salam<\/a> said \u201cthis draft law constitutes a road map to getting out of the crisis\u201d that grips <a href=\"https:\/\/www.thenationalnews.com\/mena\/lebanon\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/mena\/lebanon\/\">Lebanon<\/a>.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-4-5EU5G5AVHRESHDOAGF5ZKDGABU\">The draft will be discussed by the Lebanese Cabinet on Monday before being sent to <a href=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/18\/lebanese-parliament-meets-for-first-time-in-months-despite-boycott-over-election-law\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/18\/lebanese-parliament-meets-for-first-time-in-months-despite-boycott-over-election-law\/\">parliament<\/a>, where it could be blocked.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-5-RTXDVEC6TJDURHLJB5SVYCSOAY\">Lebanon has been mired in an economic crisis for six years, a situation compounded by last year\u2019s war between <a href=\"https:\/\/www.thenationalnews.com\/opinion\/comment\/2025\/12\/16\/beirut-is-in-no-state-to-advance-washingtons-project-to-normalise-lebanon-israel-relations\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/opinion\/comment\/2025\/12\/16\/beirut-is-in-no-state-to-advance-washingtons-project-to-normalise-lebanon-israel-relations\/\">Israel<\/a> and Iran-backed <a href=\"https:\/\/www.thenationalnews.com\/news\/uk\/2025\/12\/16\/two-men-charged-in-uk-with-terrorist-training-at-hezbollah-run-airport\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/news\/uk\/2025\/12\/16\/two-men-charged-in-uk-with-terrorist-training-at-hezbollah-run-airport\/\">Hezbollah<\/a>. Beirut is seeking foreign assistance to help to rebuild and revive its economy.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-7-IG27BKGUPZAFHEKAQ5HAAEKXCI\">Under the proposed law, losses incurred during the crisis would be shared among the state, the Central Bank, commercial banks and depositors.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-8-UNBD5KFLNJH55GQMMXG3ZEUDXU\">Depositors, who lost access to their funds after the 2019 crisis, will be able to retrieve their money, up to $100,000, over four years.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-9-SLYYQ27R6FEQVLYGGPTWY7OIQQ\">Mr Salam said that 85 per cent of depositors had less than $100,000 in their accounts.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-10-C6V3G4LKQVH7VFE7NRZ2DQANRU\">The wealthiest depositors will have the remainder of their money compensated with asset-backed securities.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-11-2F4F2IITSNDW3IHOO7UXSZL7FQ\">\u201cI know that many of you are listening today with hearts full of anger, anger at a state that abandoned you,\u201d said Mr Salam.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-12-2KOH664OURFBJJM5MYI7U2DV24\">\u201cThis bill may not be perfect \u2026 but it is a realistic and fair step towards restoring rights, halting the collapse.\u201d<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-13-G33EZRP6WJHHBDSXOXYSPZVM4I\">The <a href=\"https:\/\/www.thenationalnews.com\/business\/economy\/2025\/09\/26\/imf-presses-lebanon-to-improve-banking-reforms\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/business\/economy\/2025\/09\/26\/imf-presses-lebanon-to-improve-banking-reforms\/\">International Monetary Fund<\/a>, which closely monitored the drafting of the bill, had previously insisted on the need to \u201crestore the viability of the banking sector consistent with international standards\u201d and protect small depositors.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-14-4YUS3IA55FHIPAT4DWXV4JGRLY\">The Associations of Banks in Lebanon criticised the draft law on Monday, saying in a statement that it contains \u201cserious shortcomings\u201d and harms commercial banks.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-15-IHXTAL4OXZE7TOVYHZDJABX4BI\">The text provides for the recapitalisation of failing banks, while the government\u2019s debt to the <a href=\"https:\/\/www.thenationalnews.com\/mena\/lebanon\/2023\/07\/27\/riad-salameh-lebanon-central-bank-who\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/mena\/lebanon\/2023\/07\/27\/riad-salameh-lebanon-central-bank-who\/\">Central Bank<\/a> will be converted into bonds.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-16-YWYNNSHMTZF7RKB2UDCKT36GPI\">Mr Salam said that the bill aims to \u201crevive the banking sector\u201d which had collapsed and given free rein to a parallel <a href=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/16\/travel-ban-imposed-on-former-lebanese-minister-facing-corruption-charges\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/16\/travel-ban-imposed-on-former-lebanese-minister-facing-corruption-charges\/\">economy<\/a> based on cash transactions, facilitating money laundering and illicit trade.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-17-O4QW2F7Z7NAWNCSKIXWNLMDZEI\">According to government estimates, the losses resulting from the financial crisis amounted to about $70 billion, a figure that is expected to have increased over the past six years while the crisis was not addressed.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-18-I7WTEM5TQBGKBPFMXS3PUA3USY\">Since assuming power, Mr Salam and President <a href=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/19\/lebanese-and-israeli-officials-hold-second-round-of-civilian-talks\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.thenationalnews.com\/news\/mena\/2025\/12\/19\/lebanese-and-israeli-officials-hold-second-round-of-civilian-talks\/\">Joseph Aoun<\/a> have pledged that reforms and legislation will be put in place.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-19-E2O2GCLXYJDEFDQHPWD4W3O64Q\">In April, Lebanon\u2019s parliament adopted a bank restructuring law, because the previous legislation was believed to have allowed a flight of capital at the outbreak of the 2019 crisis.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-20-JZDFHDVD4FGXPMHH5BCOW5DR5A\">The new bill stipulates that politically exposed people and major shareholders who transferred significant capital outside the country from 2019 onwards \u2013 while ordinary depositors were deprived of their savings \u2013 must return them within three months or face fines.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-21-YLAIVP75Q5D5FM624B4ERBUOSU\">The draft law could still be blocked by parliament even if the Cabinet approves it. Politicians and banking officials have repeatedly obstructed the reforms required by the international community for Lebanon to receive financial support.<\/p>\n<p class=\"defaultstyled__StyledText-sc-11u52t4-1 huqwQJ margin-lg-bottom\" id=\"el-22-TQOZYEDWXBC55HO33AHMJUVFDY\">With agencies<\/p>\n<p>The Gentlemen<\/p>\n<p>Director: Guy Ritchie<\/p>\n<p>Stars: Colin Farrell, Hugh Grant\u00a0<\/p>\n<p>Three out of five stars<\/p>\n<p>The%20specs%20<\/p>\n<p>%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A<\/p>\n<p>ABU%20DHABI&#8217;S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS<\/p>\n<p>%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023&#8217;s%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A<\/p>\n<p>The specs: 2019 Aston Martin DBS Superleggera<\/p>\n<p>Price, base: Dh1.2 million<\/p>\n<p>Engine: 5.2-litre twin-turbo V12<\/p>\n<p>Transmission: Eight-speed automatic<\/p>\n<p>Power: 725hp @ 6,500pm<\/p>\n<p>Torque: 900Nm @ 1,800rpm<\/p>\n<p>Fuel economy, combined: \u00a012.3L \/ 100km (estimate)<\/p>\n<p>If you go<\/p>\n<p>Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don\u2019t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.<\/p>\n<p>Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights\u2019 hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees;\u00a0<a href=\"https:\/\/www.nomadicroad.com\" rel=\"nofollow noopener\" target=\"_blank\">nomadicroad.com<\/a><\/p>\n<p>A fully guided three-day, two-night itinerary at Three Camel Lodge\u00a0costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way;\u00a0<a href=\"http:\/\/threecamellodge.com\/\" rel=\"nofollow noopener\" target=\"_blank\">threecamellodge.com<\/a><\/p>\n<p>Tour de France<\/p>\n<p><strong>When:<\/strong>\u00a0July 7-29<\/p>\n<p><strong>UAE Team Emirates:<\/strong><br \/>Dan Martin, Alexander Kristoff, Darwin Atapuma, Marco Marcato, Kristijan Durasek, Oliviero Troia, Roberto Ferrari and Rory Sutherland<\/p>\n<p>COMPANY%20PROFILE<\/p>\n<p>%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A<\/p>\n<p>How the bonus system works<\/p>\n<p>The two riders are among several riders in the UAE to receive the top payment of\u00a0\u00a310,000 under the\u00a0Thank You Fund\u00a0of \u00a316 million (Dh80m), which was announced\u00a0in conjunction with Deliveroo&#8217;s \u00a38 billion (Dh40bn) stock market listing earlier this year.<\/p>\n<p>The \u00a310,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.<\/p>\n<p>There are also riders who will receive payments of \u00a31,000 (Dh5,000) and \u00a3500 (Dh2,500).<\/p>\n<p>All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive \u00a3200 (Dh1,000), the company said when it announced the scheme.<\/p>\n<p>Sreesanth&#8217;s India bowling career<\/p>\n<p><strong>Tests<\/strong> 27, <strong>Wickets<\/strong> 87, <strong>Average<\/strong>\u00a037.59, <strong>Best<\/strong>\u00a05-40<\/p>\n<p><strong>ODIs<\/strong> 53, <strong>Wickets<\/strong> 75, <strong>Average<\/strong> 33.44, <strong>Best<\/strong> 6-55<\/p>\n<p><strong>T20Is<\/strong>\u00a010, <strong>Wickets<\/strong> 7, <strong>Average<\/strong> 41.14, <strong>Best<\/strong> 2-12<\/p>\n<p>UAE currency: the story behind the money in your pocketsEA Sports FC 26<\/p>\n<p><strong>Publisher:<\/strong> EA Sports<\/p>\n<p><strong>Consoles:<\/strong> PC, PlayStation 4\/5, Xbox Series X\/S<\/p>\n<p><strong>Rating:<\/strong> 3\/5<\/p>\n<p>FIXTURES<\/p>\n<p>All times UAE ( 4 GMT)<\/p>\n<p><strong>Friday<\/strong><br \/>Saint-Etienne v Montpellier (10.45pm)<\/p>\n<p><strong>Saturday<\/strong><br \/>Monaco v Caen (7pm)<br \/>Amiens v Bordeaux (10pm)<br \/>Angers v Toulouse\u00a0(10pm)<br \/>Metz v Dijon\u00a0(10pm)<br \/>Nantes v Guingamp\u00a0(10pm)<br \/>Rennes v Lille\u00a0(10pm)<\/p>\n<p><strong>Sunday<\/strong><br \/>Nice v Strasbourg (5pm)<br \/>Troyes v Lyon (7pm)<br \/>Marseille v Paris Saint-Germain (11pm)<\/p>\n<p>UK\u2019s AI plan<\/p>\n<ul>\n<li>AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind\u2019s Raia Hadsell<\/li>\n<li>\u00a310bn AI growth zone in South Wales to create 5,000 jobs<\/li>\n<li>\u00a3100m of government support for startups building AI hardware products<\/li>\n<li>\u00a3250m to train new AI models<\/li>\n<\/ul>\n<p>Results<\/p>\n<p><strong>4pm:<\/strong> Maiden (Dirt) Dh165,000 1,600m<br \/><strong>Winner:<\/strong> Moshaher, Pat Dobbs (jockey), Doug Watson (trainer).<\/p>\n<p><strong>4.35pm:<\/strong> Handicap (D) Dh165,000 2,200m<br \/><strong>Winner:<\/strong> Heraldic, Richard Mullen, Satish Seemar.<\/p>\n<p><strong>5.10pm:<\/strong> Maiden (Turf) Dh165,000 1,600m<br \/><strong>Winner:<\/strong> Rua Augusta, Harry Bentley, Ahmad bin Harmash.<\/p>\n<p><strong>5.45pm:<\/strong> Handicap (D) Dh190,000 1,200m<br \/><strong>Winner:<\/strong> Private\u2019s Cove, Mickael Barzalona, Sandeep Jadhav.<\/p>\n<p><strong>6.20pm:<\/strong> Handicap (T) Dh190,000 1,600m<br \/><strong>Winner:<\/strong> Azmaam, Jim Crowley, Musabah Al Muhairi.<\/p>\n<p><strong>6.55pm:<\/strong> Handicap (D) Dh190,000 1,400m<br \/><strong>Winner:<\/strong> Bochart, Richard Mullen, Satish Seemar.<\/p>\n<p><strong>7.30pm:<\/strong> Handicap (T) Dh190,000 2,000m<br \/><strong>Winner<\/strong>: Rio Tigre, Mickael Barzalona, Sandeep Jadhav.<\/p>\n<p>The Voice of Hind Rajab<\/p>\n<p><strong>Starring:<\/strong> Saja Kilani, Clara Khoury, Motaz Malhees<\/p>\n<p><strong>Director: <\/strong>Kaouther Ben Hania<\/p>\n<p><strong>Rating:<\/strong> 4\/5<\/p>\n<p>COMPANY%20PROFILE<\/p>\n<p>%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Silkhaus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Aahan%20Bhojani%20and%20Ashmin%20Varma%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Property%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%247.75%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Nuwa%20Capital%2C%20VentureSouq%2C%20Nordstar%2C%20Global%20Founders%20Capital%2C%20Yuj%20Ventures%20and%20Whiteboard%20Capital%3C%2Fp%3E%0A<\/p>\n<p>Dubai works towards  better air quality by 2021<\/p>\n<p>Dubai is on a mission to record good air quality for 90 per cent of the year \u2013 up from 86 per cent annually today \u2013 by 2021.<\/p>\n<p>The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.<\/p>\n<p>These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.<\/p>\n<p>\u201cIt will allow real-time responding for emergency cases,\u201d said Khaldoon Al Daraji, first environment safety officer at the municipality.<\/p>\n<p>\u201cWe\u2019re in a good position except for the cases that are out of our hands, such as sandstorms.<\/p>\n<p>\u201cSandstorms are our main concern because the UAE is just a receiver.<\/p>\n<p>\u201cThe hotspots are Iran, Saudi Arabia and southern Iraq, but we\u2019re working hard with the region to reduce the cycle of sandstorm generation.\u201d<\/p>\n<p>Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.<\/p>\n<p>There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.<\/p>\n<p>\u201cThere are 25 stations in total,\u201d Mr Al Daraji said.<\/p>\n<p>\u201cWe added new technology and equipment used for the first time for the detection of heavy metals.<\/p>\n<p>\u201cA hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.\u201d<\/p>\n<p>The%20specs<\/p>\n<p>%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ETwin-turbo%2C%20V8%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%20and%20manual%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503%20bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E513Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh646%2C800%20(%24176%2C095)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A<\/p>\n<p>The biog<\/p>\n<p><strong>Favourite food:<\/strong> Tabbouleh, greek salad and sushi<\/p>\n<p><strong>Favourite TV show: <\/strong>That 70s Show<\/p>\n<p><strong>Favourite animal: <\/strong>Ferrets, they are smart, sensitive, playful and loving<\/p>\n<p><strong>Favourite holiday destination:<\/strong> Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can<\/p>\n<p><strong>Name of first pet: <\/strong>Eddy, a Persian cat that showed up at our home<\/p>\n<p><strong>Favourite dog breed: <\/strong>I love them all &#8211; if I had to pick Yorkshire terrier for small dogs and St Bernard&#8217;s for big<\/p>\n<p>Benefits of first-time home buyers&#8217; scheme<\/p>\n<ul>\n<li style=\"text-align: justify;\">Priority access to new homes from participating developers<\/li>\n<li style=\"text-align: justify;\">Discounts on sales price of off-plan units<\/li>\n<li style=\"text-align: justify;\">Flexible payment plans from developers<\/li>\n<li style=\"text-align: justify;\">Mortgages with better interest rates, faster approval times and reduced fees<\/li>\n<li style=\"text-align: justify;\">DLD registration fee can be paid through banks or credit cards at zero interest rates<\/li>\n<\/ul>\n<p>Global Fungi Facts<\/p>\n<p class=\"Factsbox__StyledFactsBoxHeading-sc-owpykd-1 ccCbvn\" data-identifier=\"factxbox-heading\">\u2022\u00a0Scientists estimate there could be as many as 3 million fungal species globally<br \/>\u2022\u00a0Only about 160,000 have been officially described leaving around 90% undiscovered<br \/>\u2022\u00a0Fungi account for roughly 90% of Earth&#8217;s unknown biodiversity<br \/>\u2022\u00a0Forest 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&#8217;s topsoil<\/p>\n<p>The Dictionary of Animal Languages<br \/>Heidi Sopinka<br \/>\u200b\u200b\u200b\u200b\u200b\u200b\u200bScribe<\/p>\n<p>MATCH INFO<\/p>\n<p>Inter Milan v Juventus<br \/>Saturday, 10.45pm (UAE)<br \/>Watch the match on BeIN Sports<\/p>\n<p>Shooting Ghosts: A U.S. Marine, a Combat Photographer, and Their Journey Back from War by\u00a0Thomas J. Brennan and Finbarr O\u2019Reilly<\/p>\n<p>The specs: 2017 Dodge Ram 1500 Laramie Longhorn<\/p>\n<p>Price, base \/ as tested: Dhxxx<br \/>Engine: 5.7L V8<br \/>Transmission: Eight-speed automatic<br \/>Power: 395hp @ 5,600rpm<br \/>Torque: 556Nm @ 3,950rpm<br \/>Fuel economy, combined: 12.7L \/ 100km<\/p>\n<p>COMPANY%20PROFILE<\/p>\n<p>%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ESupy%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EDani%20El-Zein%2C%20Yazeed%20bin%20Busayyis%2C%20Ibrahim%20Bou%20Ncoula%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3EFood%20and%20beverage%2C%20tech%2C%20hospitality%20software%2C%20Saas%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%20%3C%2Fstrong%3EBootstrapped%20for%20six%20months%3B%20pre-seed%20round%20of%20%241.5%20million%3B%20seed%20round%20of%20%248%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EBeco%20Capital%2C%20Cotu%20Ventures%2C%20Valia%20Ventures%20and%20Global%20Ventures%3C%2Fp%3E%0A<\/p>\n<p>The specs<\/p>\n<p><strong>Engine:<\/strong> 2.3-litre, turbo four-cylinder<\/p>\n<p><strong>Transmission: <\/strong>10-speed auto<\/p>\n<p><strong>Power: <\/strong>300hp<\/p>\n<p><strong>Torque: <\/strong>420Nm<\/p>\n<p><strong>Price:<\/strong> Dh189,900<\/p>\n<p><strong>On sale: <\/strong>now<\/p>\n<p>Mercer, the investment consulting arm of US services company Marsh &amp; 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.<\/p>\n<p>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.<\/p>\n<p>\u201cWithin 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,\u201d said Mr AbuShaban.<\/p>\n<p>Mercer does not directly make investments, but allocates clients\u2019 money they have discretion to, to professional asset managers. They also provide advice to clients.<\/p>\n<p>\u201cWe have buying power. We can negotiate on their (client\u2019s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,\u201d he added.<\/p>\n<p>Mercer Wealth\u2019s clients include sovereign wealth funds, family offices, and insurance companies among others.<\/p>\n<p>From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.<\/p>\n<p>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\u2019s 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.<\/p>\n<p>BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.<\/p>\n<p>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.<\/p>\n<p>Another general trend in the region is clients\u2019 looking for a comprehensive approach to investing, according to Mr AbuShaban.<\/p>\n<p>\u201cInstitutional 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,\u201d said Mr AbuShaban.<\/p>\n<p>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.<\/p>\n<p>\u201cWhat we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,\u201d he said.<\/p>\n<p>\u201cIn 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.\u201d<\/p>\n<p>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\u2019s private equity department focused on structured equities owing to \u201ctheir defensive characteristics.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Lebanese Prime Minister Nawaf Salam said on Friday that the government had put forward \u200ba long-awaited banking draft&hellip;\n","protected":false},"author":2,"featured_media":244107,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[79,179,18,108244,19,13484,17,14407,1702,1217],"class_list":{"0":"post-244106","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-eire","11":"tag-foreign-desk-team","12":"tag-ie","13":"tag-imf","14":"tag-ireland","15":"tag-lebanon","16":"tag-standard","17":"tag-story"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115756963141483598","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/244106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=244106"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/244106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/244107"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=244106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=244106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=244106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}