Just in:
Ohio legislature backs mining, self‑custody and tax relief // Ghana’s Credit Score Rises to ‘B-’ as Debt Talks Progress // Microsoft Pushes for Bigger OpenAI Stake Amid Legal Friction // US Mobilises as Strike Looms Over Iran Nuclear Sites // Economic Fallout Of Israel-Iran Conflict Could Extend Way Beyond Region // Palm Shoreline Retreat Offers Refined Beach Access // UAE Delivers Stern Warning Over Israel‑Iran Escalation // AI-Charged Exchange Nivex Launches New Era // Hong Kong Baptist University and Elsevier Report Highlights Global Expansion of Chinese Medicine Research, Urges Standardised Frameworks for Broader Integration // Dash 8 Retrofit Gains Traction with Liquid‑Hydrogen MoU // Scorching Heat Grip Threatens New York City // FalconX Prepares for Market Debut Amid Crypto IPO Surge // Invented in Hong Kong, EXOTICA UMAMI [EX M], a new and natural flavour enhancer gets stamp of approval from professional chefs // Mind the B-Gap: Telcos see a compelling case for digital inclusion powered by cloud technology // Middle‑East Strife Drives Oil Above $76 Per Barrel // Central banks’ decisions loom amidst global uncertainty, Octa Broker offers its view // Shanghai to Host Global Operations Centre for Digital Yuan // Deyaar Aims High with AED 2 Billion Flagship Residential Tower // Powerhouse Chaebols Propel South Korea’s Economy to New Heights // ONESIAM Global Grand Giveaway Season 2 Heats Up the Summer with Double Rewards for Bangkok-Bound Visitors //

UAE’s Al Habtoor group asks Lebanese govt to make good losses due to instability

alhabtoor

K Raveendran

UAE’s Al Habtoor group, which has made substantial investments in Lebanon, has urged the Lebanese government to compensate for the losses suffered by GCC companies due to the reckless actions of militias, putting the Lebanese state in futile conflicts that only bring destruction and instability to the country, its economy, and its people.

The Lebanese state must confront the sources of threats and take preventive measures to guarantee the state’s protection of these investments and properties against such risk, an open letter by the group to the Lebanese government urged

ADVERTISEMENT

The letter pointed out that the Lebanese government is bound by legal obligation on account of agreements and international treaties signed with the United Arab Emirates in particular.  The investments are protected by a bilateral agreement signed on May 17, 1998, between the United Arab Emirates and the Lebanese Republic. This agreement aims to encourage and mutually protect investments and was ratified by the Lebanese Parliament under Law No. 61 dated March 31, 1999, it added.

According to this agreement, Lebanon has committed itself to protecting the investments, properties, and funds of all investors holding UAE citizenship, ensuring fair and equitable treatment, the highest priority, free transfer of funds, non-expropriation of ownership, compensation for subsequent damages, and the unconditional right to resort to international and regional settlement.

The group urged the Lebanese government to and lift the freeze on all the group’s funds held forcibly in Lebanese banks to avoid complicating and escalating the current situation.

 


Also published on Medium.


Notice an issue?

Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.


ADVERTISEMENT