A day after I read about Hassan Nasrallah’s criticism of Saudi Arabia’s intervention in Yemen, I came across a feature in Friday’s London Evening Standard about the amount of money from the GCC that is finding its way to London. The article reminded us of Abu Dhabi Investment Authority’s 16 per cent share in Gatwick Airport; its 9.9 per cent share in Thames Water; its ownership of the Lanesborough hotel and 42 Marriotts.
Other Abu Dhabi investors are also busy developing mega-properties and opening high-end restaurants in the capital. And let’s not forget Qatar: the country owns major stakes in Canary Wharf Group, the Shard and chunks of Knightsbridge, including Harrods.
The number of Arabian Gulf visitors to the UK is also growing. According to the website VisitBritain.org, in 2013 the number of GCC visitors rose by 10 per cent. OK, that was two years ago, but given the abundant retail opportunities, and the popularity of Harry Potter and Manchester City, I will assume this figure hasn’t dipped. The Arabs have always loved London. It is quite possibly the greatest city on Earth.
The same praise could never have been heaped on Beirut, even if the Lebanese capital has at times spectacularly punched above its weight. Today, however, is not one of those times and with a looming tourist season, a period during which the Lebanese hospitality sector would normally expect to make serious hay, the chances of an invasion of well-heeled GCC holidaymakers are not only looking slim, but becoming a thing of the past.
For a few good years, from 2008 to 2011, Beirut was the bling-fuelled epicentre of Arab fun. But by 2012, the proximity of the Syrian civil war, a handful of security incidents and the very real danger of being kidnapped scared almost everyone off. And it now seems Lebanon’s traditionally solid relations with the GCC may be strained even further after Mr Nasrallah’s speech in which the leader of Hizbollah, the Iranian-backed militant Shia party, lashed out against what it saw as Saudi Arabia’s regional adventurism.
Given that he lives in a very glass house, Mr Nasrallah should not throw stones. His party is predicated on conflict and has made no bones about sending its young men to Syria to fight – and die – alongside the Syrian army in that country’s civil war. If only Mr Nasrallah took time off from fighting everything and everyone and recalled Bill Clinton’s 1992 campaign motto “it’s the economy, stupid” he might realise that he is in danger of taking Lebanon to hell in the proverbial handbasket.
Quite what the Lebanese prime minister Tammam Salam must think when he sees the head of a political party inflict yet another body blow to the country’s already ragged economy every time he opens his mouth is anyone’s guess.
The Saudis, meanwhile, were understandably irritated by Mr Nasrallah’s hypocrisy and have expelled a number of Lebanese expats as a reminder of the GCC’s importance to the Lebanese economy. The region employs 300,000 Lebanese expats with a wage bill said to total US$6 billion, more than 10 per cent of Lebanon’s GDP.
The Lebanese private sector is understandably nervous. Mohammad Choucair, the head of the Lebanese Chamber of Commerce, was at pains to point out last week that “certain parties” should be wary, for obvious reasons, of alienating the Gulf countries.
What’s my point? Well, I guess it would be that the world is moving on. Abu Dhabi, Qatar, Dubai, the Chinese … they are all investing in what analysts like to call “long-term value creators” and it upsets me that Lebanon, a country with huge potential is still being run by a political class that has absolutely zero interest in advancing any initiative for economic growth or long-term prosperity. And what do we do with any decent economic strategists such as Bassel Fleihan or Mohamad Chatah? We murder them.
It’s all rather sad really.
Michael Karam is a freelance writer who lives between Beirut and Brighton.
Follow The National's Business section on Twitter
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Klipit%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Venkat%20Reddy%2C%20Mohammed%20Al%20Bulooki%2C%20Bilal%20Merchant%2C%20Asif%20Ahmed%2C%20Ovais%20Merchant%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%20Digital%20receipts%2C%20finance%2C%20blockchain%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%244%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Privately%2Fself-funded%3C%2Fp%3E%0A
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
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
Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla
Verdict: Three stars
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Killing of Qassem Suleimani
Read more about the coronavirus
ASIAN%20RUGBY%20CHAMPIONSHIP%202024
%3Cp%3E%3Cstrong%3EResults%3C%2Fstrong%3E%3Cbr%3EHong%20Kong%2052-5%20UAE%3Cbr%3ESouth%20Korea%2055-5%20Malaysia%3Cbr%3EMalaysia%206-70%20Hong%20Kong%3Cbr%3EUAE%2036-32%20South%20Korea%3Cbr%3E%3Cbr%3E%3Cstrong%3EFixtures%3C%2Fstrong%3E%3Cbr%3EFriday%2C%20June%2021%2C%207.30pm%20kick-off%3A%20UAE%20v%20Malaysia%3Cbr%3EAt%20The%20Sevens%2C%20Dubai%20(admission%20is%20free).%3Cbr%3ESaturday%3A%20Hong%20Kong%20v%20South%20Korea%3Cbr%3E%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Read more from Aya Iskandarani
Mohammed bin Zayed Majlis
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
