Cables: Lebanese Berri family’s wealth hits about US$2 billion
Lebanon’s al Akhbar newspaper on Thursday reported about a cable sent from the U.S. Embassy dated April 7, 2006 about a meeting between the diplomats at the embassy with economic expert and political analyst Mohammed Obeid and former MP and Minister Mohammed Abdel-Hamid Beydoun.
According to the cable, the two men stressed that the support of the Shiite Amal movement in the south has been diminishing. The reason, according to Obaid, is the decline in credibility of the leader of the movement, Lebanese Parliament Speaker Nabih Berri. Obaid said, according to the cable, that Berri family’s wealth is around US$2 billion. He added that Berri family is the largest landowner in the south of Lebanon. Obaid conveyed that Berri receives US$400,000 per month from Iran. He directs some US$100,000 to his supporters, and leave the rest in his pocket.
In another cable, American ambassador to Lebanon during the war of July 2006, Jeffrey Feltman has met with then Lebanon’s Prime Minister Fouad Siniora. According to the document, Siniora, speaking about the reconstruction effort, said he had asked Saudi Arabia and Kuwait not to transfer the amounts of US$500 million and US$300 million, respectively, because “I do not want these funds to reach the pocket of the Parliament Speaker Nabih Berri. Source: yallafinance.com.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?