Two years have passed since the Trump administration ordered the assassination of Iran’s top general Qassem Suleimani in hopes of not only sending a message to Iran but halting much of Iran’s ambitions across the region.
While the general's death has seemingly done little to stop Iran’s regional ambitions, his absence has certainly dented the Islamic Revolutionary Guard Corps and delivered a blow to Iran’s strength and transnational networks, according to Arash Azizi, a journalist and author of The Shadow Commander: Soleimani, the US, and Iran's Global Ambitions.
“Mr Suleimani was one of the most unique operatives in the history of modern warfare, not just in the Middle East but anywhere in the world,” Azizi told The National, pointing out that the general commanded a multinational ideological army of more 100,000 that spanned the region.
But while Suleimani’s legacy is unique and impressive, it is not one that is likely to be long-lasting, he said.
Esmail Qaani, who was appointed head of the Islamic Revolutionary Guard Corps' Quds Force just hours after the assassination, has failed to fill the shoes of his predecessor, Azizi said.
“Mr Qaani lacks Suleimani's charisma, diplomatic acumen, fluent command of the Arabic language and years of experience in building personal relationships with the Iranian regime's allies in the region, such as Hassan Nasrallah, head of Lebanon's Hezbollah, and Iraqi militia leaders.”
In Iraq in particular, Suleimani’s death was a massive loss in terms of keeping a degree of cohesion among the already “discordant and disunited” Shiite militias, Azizi said. The effects of that were seen in the October general election, when Iran-backed groups lost most of their seats in Iraq's parliament.
Adnan Tabatabai, co-founder and chief executive of the German-based think tank Carpo, said the assassination of Abu Mahdi Al Muhandis, leader of Iraq's Popular Mobilisation Forces (PMF) who was also killed in the drone strike on Suleimani outside Baghdad airport, had a large part to play in the disunity among its member militias.
The death of Al Muhandis “unleashed a dangerous inner-Iraqi competition”, he said.
Mr Tabatabai said that both Al Muhandis and Suleimani were able to “tame the ambitions of these groups”, but the double assassination and the varying “pledge for vendetta and leadership claims” by PMF units undermined their cohesion.
The problem now for Iran, Iraq and the Quds Force is that “mobilising them for an attack will still work, while demanding these groups to hold back has become increasingly difficult”, he said. This “endangers the stability of Iraq and exacerbates the vulnerability of US presence”.
Suleimani was highly focused on Iran’s relationship and dominance in Iraq and his legacy there, in particular, is a complicated one. Under his direction, Iran’s Revolutionary Guard was a critical component to fighting ISIS. Suleimani often put himself at the front lines and forged close ties not just with Shiite groups, but also with Iraqi Kurdish parties, so he was respected and revered, Azizi said.
However, Iran and Suleimani’s role in suppressing Iraqi political movements, especially the bloody crackdown on the 2019 protests, and taking an outsize role in Iraq’s governance, often undermined Iraq’s sovereignty, according to Azizi. “Most people don’t like a strong and bigger neighbour undermining their country’s sovereignty, even if they are both from the Shia community,” he noted.
Holding on to the gains made by Suleimani a near impossible task not just because of his loss but also because of what Iran is promoting. Its theocratic government is one of a kind and widely unpopular even within Iran: over the 40 years of its existence, Iranians have often taken to the streets. It is, as Azizi says, “effectively unexportable”.
Countries where Iran has a big presence and has tried to export its ideology are not, as Azizi says, “enviable” places. Syria and Yemen have been stuck in civil wars that have caused widespread destruction and hunger. In Iraq and Lebanon, Iran’s network of allies has created a system of corruption that has led to ineffective and hamstrung governments.
Even before Suleimani’s death, Iraqi and Lebanese people were taking to the streets to protest against Iran’s role in creating government corruption and exacerbating sectarianism.
Lastly, the impact of US economic sanctions on Iran’s ability to project influence beyond its borders should not be dismissed. Suleimani’s ability to expand and create these alliances were costly for Iran; the US sanctions curtailed its ability to fund regional activity to some degree, although not as much as the former Trump administration would have hoped. The budget for 2022 more than doubled funding for the Revolutionary Guard, from 403 trillion rials to 930 trillion rials ($22 billion).
Despite all of these factors, Iran’s power in the region does not solely rely on its political influence, or even its financial backing of like-minded groups across the region. Iran still has military might, and Azizi says this is not something that will just fade away.
Mr Tabatabai attributes this to the institutionalised structure of the Quds Force. Iran’s military, although an ally in the fight against ISIS in both Iraq and Syria, also used its influence and might in Syria to support President Bashar Al Assad, and its military has backed Houthi rebels in Yemen. These aspects of Suleimani’s legacy — the aspects that are devoid of Iranian ideology — are unlikely to fade.
Despite the assassination of its revered general, Iran has continued to forge its path in the region both militarily and diplomatically, and it is unlikely to fully lose its footing in those countries where Suleimani invested his time.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
SERIES INFO
Schedule:
All matches at the Harare Sports Club
1st ODI, Wed Apr 10
2nd ODI, Fri Apr 12
3rd ODI, Sun Apr 14
4th ODI, Sun Apr 16
UAE squad
Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Zimbabwe squad
Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
The%20Genius%20of%20Their%20Age
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
Killing of Qassem Suleimani
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
More coverage from the Future Forum
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Polarised public
31% in UK say BBC is biased to left-wing views
19% in UK say BBC is biased to right-wing views
19% in UK say BBC is not biased at all
Source: YouGov
'Cheb%20Khaled'
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UAE currency: the story behind the money in your pockets
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
More on Quran memorisation:
CHATGPT%20ENTERPRISE%20FEATURES
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000