Latest news with #Hariri
Bloomberg
13 hours ago
- Business
- Bloomberg
Ex-Lebanese PM Sets Up Abu Dhabi Investment Firm Targeting AI
Former Lebanese Prime Minister Saad Hariri is launching an investment firm in Abu Dhabi, deepening his ties to the capital of the United Arab Emirates. The entity, Genesis SPV Ltd., was registered in ADGM late last month with Hariri as its sole listed shareholder, according to the financial free zone's filings.
Arab News
19-04-2025
- Politics
- Arab News
2005 - The assassination of Hariri
DUBAI: The Middle East of the early 2000s was in a state of flux. Saddam Hussein was toppled in Iraq. Al-Qaeda and its various hydra-headed affiliates were running amok, popping up everywhere. Terrorists were on a killing spree. There was chaos and confusion. It was during this particularly unstable time that I entered journalism, at Lebanon's Future Television. There were plenty of stories to cover in the region, mostly of death and destruction, conspiracy and collusion, revenge and vendetta. There seemed to be an unending and singularly vicious cycle of violence. In Lebanon, on the other hand, Rafik Hariri was scripting a rare success story. By following his vision, and thanks to the Saudi-brokered Taif Agreement in 1989 that brought to an end the civil war, the country had finally found its feet as the 'Switzerland of the East.' Hariri was at the helm as prime minister from 1992 to 1998, and again from 2000 to 2004. He turned Lebanon around, infusing new life into a country that had been ripped asunder by a long, bloody civil war. It was a dream time for the nation. Lebanon became the talk of the town in shisha cafes across the region. Here was a Middle Eastern country proving that it could rise from the ashes and earn the admiration of its people, as well as that of the wider world. Proving that it could set an example for others to follow. The one man responsible for this unprecedented, historic turnaround was Hariri. Unfortunately, as the saying goes, all good things come to an end — or, in the case of the Middle East, are brought to a violent end with bloody carnage. And so it was that the purveyors of death and destruction, the satanic forces that had been lying in wait for a long time, struck. The location was the center of Beirut, and the strike hit with the destructive force of about 1,000 kilograms of explosives. Hariri was assassinated at the age of only 60. I was nearly 4,000 kilometers away at the time, in London, working for Asharq Al-Awsat. I remember that day with pain and pathos. It was Monday, Feb. 14, 2005. Those were pre-Twitter days, and suddenly I found myself deluged with text messages. I rushed to my office. I watched the whole world freeze as I saw the images of the exploding car. This was not just another news story to me, because I had worked at Future Television, which Hariri founded, and I had known him personally. I also knew, and had worked with, a number of other people who were at the scene of the explosion in Beirut, including the cameraman who was seen weeping in images at the time. My pain and anger were all the greater because I had witnessed what was commonly referred to as 'the second golden era of Lebanon,' between 1992 and 2005, when Hariri was in his prime. Many memories flashed through my mind. I remembered distinctly the feelings of euphoria when French President Jacques Chirac had visited and walked hand-in-hand with Hariri in downtown Beirut. That happened on a beautiful summer night in the early 2000s, when the center of the city was buzzing with citizens, expatriates and tourists. They were out to enjoy the experience of fine dining, shopping, clubbing or puffing on shisha in the newly renovated heart of the Lebanese capital. The atmosphere felt so busy and alive, and I recall sitting with several friends. We had chosen to go to a well-known downtown cafe opposite the headquarters of the now-defunct pan-Arab daily newspaper Al-Hayat. We struggled to attract the attention of the waiters, who were doing their best to handle the flood of orders being thrown at them, mostly by much better-tipping Gulf tourists who, for obvious reasons, did not have as many problems as we students did in getting their attention. Then, all of a sudden, a musician playing the saxophone beside our table stopped his music. Everybody stood and people all around us began clapping and cheering as Hariri appeared on the street, holding hands with Chirac. Prime Minister Rafik Hariri supports UN Security Council Resolution 1559 calling for Syrian and other foreign forces to leave Lebanon. Hariri resigns as prime minister in protest against Syria's role in Lebanon. While campaigning for parliamentary elections, Hariri urges the opposition to back Resolution 1559. Hariri is assassinated in Beirut. Under pressure from world opinion and the mass protests of the Cedar Revolution, Syrian troops finally withdraw from Lebanon. Appointed by the UN to investigate Hariri's assassination, the international Special Tribunal for Lebanon opens in The Hague. Four suspected members of Hezbollah eventually charged with his murder. One later dies, the others remain fugitives. Hassan Nasrallah, longtime leader of Hezbollah, killed by Israeli airstrike on an underground facility in Dahieh, the group's stronghold in Beirut. He is succeeded by his deputy, Naim Qassem. After more than 2 years of political deadlock, Lebanon's parliament elects armed forces commander Joseph Aoun as the country's 14th president. The French president was on an official visit to Lebanon, and Hariri decided to show him firsthand the progress made by the Lebanese people, both socially and physically. What better way to do this than take Chirac out for a walk to experience the kind of vibrant life Hariri had worked so hard to provide for his nation? There were no bodyguards in sight, no weapons and no formalities whatsoever. On the contrary, both leaders casually greeted people and shook hands with them. The musician began, with no prompting, to play the French national anthem on his saxophone. It was phenomenal, and incredible, how Hariri managed to turn Lebanon around in less than a decade. There was a new airport, a new downtown area, and tourism flourished. Everything was going right for the country. It was indeed Lebanon in its prime, a legendary second golden period. Watching from my office in London, I realized immediately how the assassination of Hariri was going to affect Lebanon. I anticipated, and then painfully witnessed, the steady deterioration and institutions failing, one after the other. Two decades later, Lebanon has defaulted on its debt, people are protesting about the lack of jobs, opportunities and even basic necessities of modern life such as electricity 24 hours a day. More concerning is the reality that, regardless of the government that is elected, or the heavy blow Hezbollah suffered during its most recent conflict with Israel, which brought destruction and despair to the heart of Beirut, members of the Iran-backed groups of the country. The assassination of Hariri wiped out all hope of a prosperous and peaceful Lebanon. This only added to the depressing scenario that existed then, and continues to exist, in the wider Middle East. Twenty years have passed since Hariri was assassinated, and in that time I have written umpteen articles on the state of affairs in Lebanon. Whenever I write on the topic, I recall wistfully and nostalgically the stellar vision and leadership that Hariri provided for his country. Sadly, however, those days are gone — and they are not coming back. Hariri had a vision and that vision died with him. His critics say he was a Saudi puppet, and that he brought on the financial debt Lebanon now faces. Of course the country had to borrow money under Hariri, but it was on its way to recovery and the numbers at the time showed it. As for the accusation that Lebanon was the Kingdom's puppet, well, as Saudi Defense Minister Prince Khaled bin Salman rightly put it during an interview with media group Vice, Saudi Arabia sent tourists to Lebanon and Iran sent terrorists (including Hezbollah, which is accused of killing Hariri). If there is any doubt over which vision was and is better for Lebanon, one only has to compare the central Beirut that existed under Hariri when Chirac visited, with what it is today under the armed rule of Hezbollah: much like the rest of the country, it is torn apart by political divisions and unable to function, with businesses forced to close and tourists nowhere to be found. On Feb. 14, 2025, 20 years to the day after Hariri was assassinated, his supporters took to the streets once again, able for the first time to commemorate the memory of the late statesman without any real fear of threats from Hezbollah. The militia's leader, Hassan Nasrallah, and most of his deputies were killed by Israel during the dramatic events of 2024. In January this year, after a power vacuum that persisted for more than two years amid political deadlock, Lebanon's parliament finally freely elected a new president, former army chief Joseph Aoun. The headline on the Arab News story that reported this development was 'The rebirth of a republic' — the republic that Rafik Hariri dreamed of and in pursuit of which he gave his life.
National News
12-04-2025
- Politics
- National News
Hariri: For moving away from 'militia mentality' towards the state
NNA - Former Prime Minister Saad Hariri wrote today: 'The fiftieth anniversary of the outbreak of the ominous civil war returns, and our country is still suffering from futile wars, open crises, and daily Israeli attacks. Today, we are all called upon to learn a lesson from that war that destroyed our country and claimed the lives of our best youth. We must emerge from the militia mentality and embrace the state, which is inclusive of all, provided we respect its constitution, abide by its laws, preserve its institutions, and defend its independence." Hariri added, "The most important lesson to learn from the pain and tragedies of the civil war is to get off the bus of individual and sectarian interests, and ride the bus of legitimacy towards a just and capable state.'
Arab News
29-03-2025
- Business
- Arab News
Saudi maritime industry spurring global trade shift
JEDDAH: Saudi Arabia's investment in its maritime sector could see a shift in global trade logistics that helps reduce reliance on traditional routes, leading industry figures have told Arab News. With its strategic location at the crossroads of global trade, the Kingdom is positioning itself as an international logistics hub, enhancing its maritime infrastructure and embracing sustainability. This drive is a key part of Saudi Arabia's economic diversification initiative under Vision 2030, which seeks to reduce the Kingdom's reliance on oil revenues. In August, Omar Hariri, president of the Saudi Ports Authority, revealed that investments in the Kingdom's maritime sector have exceeded SR25 billion ($6.66 billion) thanks to successful collaborations between his organization and private sector partners. Hariri said that significant investments have been made over the past four years through partnerships with both national and international companies. Speaking to Arab News, Pierroberto Folgiero, CEO of Fincantieri, one of the world's largest shipbuilding companies, highlighted how Saudi Arabia's investment in maritime infrastructure is influencing the future of global trade routes. 'By expanding its shipbuilding capacity and enhancing its logistics infrastructure, the Kingdom can address global supply chain bottlenecks, strengthen its maritime influence, and foster resilience in international trade flows,' he said. Folgiero noted that Saudi investments in advanced maritime infrastructure could create alternative trade routes, reducing reliance on chokepoints like the Suez Canal, adding that his company sees this as an opportunity to apply its shipbuilding and maritime technology expertise. 'Investments in shipbuilding, ports, logistics, and shipping services have allowed the Kingdom to capitalize on its geographic advantages. Notable projects include the development of the King Salman International Maritime Industries Complex in Ras Al-Khair, set to become one of the world's largest shipyards, and modernizing key ports such as the Jeddah Islamic Port and King Abdulaziz Port,' he said. The CEO added that Saudi Arabia is also advancing its shipbuilding and maritime technology through strategic partnerships with global industry leaders. We are leveraging the adoption of digitization, automation, and AI-driven solutions to optimize port operations and streamline the logistics chain. Poul Hestbaek, Folk Maritime CEO 'These collaborations focus on transferring expertise and technology, accelerating the Kingdom's evolution into an influential player in the international maritime and shipping sectors,' he said. He pointed out that Saudi Arabia's focus on smart ports, using automation, IoT, and AI, is central to its maritime strategy. These technologies will streamline trade, improve turnaround times, reduce costs, and boost transparency, making the Kingdom an attractive hub for global shipping and logistics companies. In May, Fincantieri launched Fincantieri Arabia, a subsidiary with a focus on shipbuilding, maritime equipment and systems, and naval logistic support services, including training and simulation. Folgiero said this expansion will contribute to localizing technology, creating jobs, and boosting Saudi Arabia's global maritime presence. National developments It is not just established international companies that will benefit from Saudi Arabia's growing maritime sector. In 2024, the Public Investment Fund-backed Folk Maritime was launched, initially operating two routes, but that number has since doubled. Poul Hestbaek, the former CEO of Hamburg Sud, has been tasked to lead the company. Speaking to Arab News, he highlighted the Saudi government's proactive steps to adapt its regulatory framework and attract global investors to the industry, noting that his company is fully aligned with these efforts to drive innovation in maritime trade. 'As Saudi Arabia modernizes its regulatory framework, we are leveraging the adoption of digitization, automation, and AI-driven solutions to optimize port operations and streamline the logistics chain. This transformation is enhancing Saudi Arabia's position as an attractive destination for international investors,' he said. Hestbaek said that his company is playing a vital role in this transformation, particularly through its expanding fleet and direct liner services along strategic routes, including those connecting India to the Red Sea and the Gulf. He also highlighted Folk Maritime's role in improving cargo efficiency across key trade routes, including the Red Sea and the Gulf. 'As we increase regional shipping capabilities and expand our fleet, key economic indicators to watch include the growth in port throughput, the development of new shipping routes, and the rise in non-oil exports,' said the CEO. Sustainable maritime operations Achieving growth in the sector is not the only goal for Saudi Arabia. As Hestbaek emphasized, expansion has to be done in a sustainable manner. Explaining how sustainability is at the core of his company's operations, he said: 'We are aligned with Saudi Arabia's net zero carbon by 2060 goals, incorporating advanced green technologies into our fleet, using energy-efficient technologies to reduce emissions and optimize fuel consumption.' Hestbaek noted the Folk Maritime's commitment to decarbonization by adhering to international standards, prioritizing International Maritime Organization regulations, adopting alternative fuels, and replacing older vessels with eco-friendly ones like the M/V Folk Jeddah. The company also recently purchased 5,600 recyclable containers. Ensuring secure, resilient operations As the Houthi-led attacks in the Red Sea have demonstrated, security is an ever-present concern for the maritime industry. Hestbaek highlighted Saudi Arabia's multi-faceted approach to ensuring secure shipping lanes, addressing both physical and cyberthreats. 'The Kingdom works closely with international and regional partners to counter piracy and maintain secure sea routes in the Arabian Gulf, Red Sea, and beyond. Saudi Arabia has invested in state-of-the-art naval and coast guard assets, as well as enhancing port security to safeguard ships and cargo,' he said. The CEO added that his company has a strategy to safeguard operations and collaborates with local and international authorities, adding that cybersecurity is a top priority for both Saudi Arabia and Folk Maritime. 'We are committed to safeguarding our fleet and digital infrastructure from emerging cyberthreats, implementing cybersecurity measures, such as secure communication channels, real-time monitoring systems, and advanced protocols for data protection and cargo tracking,' he said. Maritime tourism The maritime industry is more than just transferring goods from port to port. As Fincantieri's Folgiero said, Saudi giga-projects such as NEOM and the Red Sea are transforming the Kingdom's cruise ship industry, aligning with Vision 2030's goal of making Saudi Arabia an international tourism hub. 'Futuristic cities like The Line and Sindalah Island, alongside the eco-tourism focus of the Red Sea Project, offer bespoke and sustainable experiences that cater to the high-end travel market, sharpening Saudi Arabia's competitive edge in the global tourism landscape,' he said. Ensuring the Kingdom capitalizes on this, the PIF-backed Cruise Saudi was created in 2021, with an aim to attract 1.3 million passengers annually by 2035. It also plans to generate 50,000 direct and indirect jobs in the cruise sector by 2035. Cruise Saudi's first ship, Aroya, which features 19 decks, 1,678 cabins and suites, and can accommodate up to 3,362 passengers, was launched in December at Jeddah Islamic Port.
National News
15-03-2025
- Politics
- National News
Bahia Hariri pays tribute to Martyr Kamal Jumblatt on his 48th commemoration: We conveyed PM Saad Hariri's appreciation for Al-Mukhtara's friendship with Rafic Hariri
NNA - Former MP Bahia Hariri, heading a large delegation from the Future Movement, visited today the Mukhtara Palace to offer condolences on behalf of former Prime Minister Saad Hariri to the family of Martyr Leader Kamal Jumblatt, marking the 48th commemoration of his martyrdom. The delegation included former MPs Ghattas Khoury, Mohammad Hajjar, and Tarek Merhebi, as well as several members of the Future Movement political bureau and coordinators, councils, and sectors representing the Beirut, Bekaa, Tripoli, Akkar, South Mount Lebanon, Sidon, South, and Hasbaya-Marjayoun coordination offices, alongside several religious and municipal figures and supporters. Hariri and the delegation were received by the head of the Democratic Gathering, MP Taymour Jumblatt; Mrs. Nora Jumblatt and Mrs. Dalia Jumblatt; MPs Marwan Hamadeh and Bilal Abdallah; and the Secretary-General of the Progressive Socialist Party, Zafer Nasser. Following the brief reception in the outer courtyard of the Mukhtara Palace, Hariri and the Movement's delegation headed to the tomb of Martyr Kamal Jumblatt and his two companions, where they laid floral wreaths and prayed the Fatiha. At the end of the visit, Hariri said: "We are honored to share with leader Walid Jumblatt and Progressive Socialist Party head Taymour Jumblatt the 48th anniversary of the assassination of the great national leader, Martyr Kamal Jumblatt, and to convey Prime Minister Saad Hariri's appreciation for Mukhtara's sincere friendship with Martyr Prime Minister Rafic Hariri during his lifetime and after his assassination." =========
