Iraqi Prime Minister Mustafa Al Kadhimi with security officials in the southern province of Maysan and offering condolences to the family of the slain judge. Photo: Prime Minister's Office
Iraqi Prime Minister Mustafa Al Kadhimi with security officials in the southern province of Maysan and offering condolences to the family of the slain judge. Photo: Prime Minister's Office
Iraqi Prime Minister Mustafa Al Kadhimi with security officials in the southern province of Maysan and offering condolences to the family of the slain judge. Photo: Prime Minister's Office
Iraqi Prime Minister Mustafa Al Kadhimi with security officials in the southern province of Maysan and offering condolences to the family of the slain judge. Photo: Prime Minister's Office

Iraq's Al Sadr sends delegation to Maysan to calm tensions after assassinations


Mina Aldroubi
  • English
  • Arabic

Iraqi cleric Moqtada Al Sadr sent a delegation to the southern city of Maysan on Thursday to quell tensions after the assassination of one of his followers there.

Karar Abu Ragheef, a supporter of Mr Al Sadr, was killed in the southern province by unknown gunmen late on Wednesday, triggering concerns between political religious leaders.

The province has followers of Mr Al Sadr’s Saraya Al Salam militia as well as those of Asaib Ahl Al-Haq, one of the factions of the Hashed Al Shaabi, which is led by Qais Al Khazaali.

The Hashed was founded in 2014 to fight ISIS alongside Iraqi forces but its factions have since been ordered to incorporate into the state security services.

Abu Ragheef’s assassination was the third in the province in recent weeks.

“I’m sending a high level delegation to calm the strife fuelled by politics between the followers of Saraya Al Salam and the Asa’ib,” Mr Al Sadr said in a statement published on the Iraqi news agency.

“Our supporters must prevent bloodshed. In the event that one of the parties does not respond, I will let the law take its course. Let everyone abstain from violence and harm,” said the cleric, who has millions of followers.

Mr Al Sadr called for calm after the killing of Abu Ragheef and said it was politically motivated at putting pressure on officials to form the next government.

The development follows the visit of Prime Minister Mustafa Al Kadhimi to Maysan on Wednesday after the killing of two officials this week.

Gunmen assassinated a judge who specialised in drug cases and an interior ministry official.

“We are going through complicated political circumstances,” Mr Al Kadhimi told a group of provincial security officials on his arrival in the area.

“No one is allowed to exploit this situation to create chaos during this important period of time," he said.

Judge Ahmed Faisal Khasaf was driving home in his car in the provincial capital of Amara when assailants blocked his route and shot him 15 times with a Kalashnikov.

He died at the scene.

A few days later the interior ministry official was killed, pushing Mr Al Kadhimi to seek justice.

“I will follow up with the joint security command in the province on a daily basis. All criminals will be arrested and handed to the judiciary,” he said.

The province has an increasingly alarming drug problem and is riven with tribal disputes.

Electric scooters: some rules to remember
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UAE currency: the story behind the money in your pockets
Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes 

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

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What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

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.”

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  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
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The biog

Occupation: Key marker and auto electrician

Hometown: Ghazala, Syria

Date of arrival in Abu Dhabi: May 15, 1978

Family: 11 siblings, a wife, three sons and one daughter

Favourite place in UAE: Abu Dhabi

Favourite hobby: I like to do a mix of things, like listening to poetry for example.

Favourite Syrian artist: Sabah Fakhri, a tenor from Aleppo

Favourite food: fresh fish

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

Types of bank fraud

1) Phishing

Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

2) Smishing

The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.

3) Vishing

The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

4) SIM swap

Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

5) Identity theft

Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

6) Prize scams

Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

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Price, base / as tested Dh137,000 / Dh189,950

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Fuel economy, combined 11.7L / 100km

The specs

Engine: 5.0-litre V8

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Fuel consumption: L/100km

Price: Dh306,495

On sale: now

Updated: February 10, 2022, 3:27 PM