World

Explainer: The probes into Lebanese central bank chief Salameh

Lebanon has been verbally informed of a German arrest warrant against Lebanese central bank governor Riad Salameh, who is being investigated for money laundering and embezzlement in his home country and abroad but denies any wrongdoing.

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The move by Germany comes one week after France issued its own arrest warrant and just days after Interpol issued a red notice for the 72-year-old governor.

Here’s what you need to know about the cases:

Europe investigates

Investigations began with a Swiss probe into whether Salameh and his brother Raja illegally took more than $300 million from the central bank between 2002 and 2015.

Since then, European countries including France, Germany, Luxembourg and Liechtenstein have initiated their own investigations into whether tens of millions of dollars of the funds allegedly embezzled from the central bank were laundered in Europe.

In March 2022, the European Union’s criminal justice cooperation organization announced the freezing of some 120 million euros($130 million) of Lebanese assets in France, Germany, Luxembourg, Monaco and Belgium, in a case in which Munich prosecutors said Salameh was a suspect.

Lebanon has hosted European investigators three times: first in January to interrogate witnesses and obtain additional evidence, then in March to question Salameh and in May to interrogate his brother Raja and an assistant, Marianne Hoayek.

France issued an arrest warrant on May 16 after Salameh failed to appear at a hearing in Paris. He pledged to challenge the warrant. Interpol issued its red notice the same week.

France has also summoned Raja and Hoayek for hearings on May 31 and June 13 respectively.

Lebanese probe limps along

Lebanese authorities said they opened their own probe after receiving a Swiss judicial cooperation request.

Critics doubted whether the Lebanese judiciary, where appointments largely depend on political backing, would seriously investigate a figure with the stature of Salameh, given his top-level political backing.

The judiciary do not deny the difficulties. In November, Lebanon’s most senior judge said, in a general comment, that political meddling in judicial work had led to a chaotic situation that required a “revolution in approaches” to resolve.

Jean Tannous, the judge appointed to lead the preliminary investigation, faced hurdles including, according to reports, an intervention by Prime Minister Najib Mikati to prevent him accessing data from banks. Mikati denied the reports.

Top prosecutor Ghassan Oueidat stopped Tannous from attending a Paris meeting last year with European prosecutors investigating Salameh, Reuters reported.

In June 2022, Oueidat ordered a prosecutor to formally charge Salameh, but the prosecutor refused and sought to be recused from the case before being blocked by legal challenges from the governor.

In February, Salameh, Raja and assistant Marianne Hoayek were charged with money laundering, embezzlement and illicit enrichment in that case.

A separate probe by Mount Lebanon Public Prosecutor Ghada Aoun led to Salameh being charged in March 2022 with illicit enrichment in a case related to the purchase and rental of Paris apartments, including some by the central bank.

Salameh has denied the allegations and has said the prosecution is politically motivated.

Salameh continues

Salameh has been a cornerstone of a financial system that served the vested interests of Lebanon’s main factions after the 1975-90 civil war, and many observers say these groups fear his downfall would have repercussions for them.

He has enjoyed support from powerful figures including Parliament Speaker Nabih Berri and Mikati, but top officials have increasingly called for his resignation as foreign pressure on him grows.

Salameh’s latest six-year term ends in July. He has refused to step down early unless a verdict is reached against him.

A political crisis that has left Lebanon without a president and a fully empowered cabinet is expected to complicate any attempt to replace him.

Lebanon receives Interpol arrest warrant for central bank chief Riad Salameh

Lebanon’s Riad Salameh says he will step down if any court ruling issued against him

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM