World and regional powers have expressed their concerns about the political escalation in Iraq after the occupation of the parliament building by followers of Shiite cleric Moqtada Al Sadr, pushing a months-long struggle to form the next government into uncharted territory.
On Sunday evening, Mr Al Sadr called on his followers to push for a complete overhaul of the political system, including a new constitution, and to rise up to expel the country's elites whom he condemned as corrupt.
The brinkmanship has rattled his political opponents, some of whom command well-armed militia groups linked to Iran. This has led to fears of renewed civil war, since Mr Al Sadr also commands large numbers of armed supporters.
For the second time in less than a week on Saturday, Mr Al Sadr ordered thousands of his followers into the heavily fortified government complex. Despite security forces using tear gas and water cannon, the crowds tore down concrete blast walls surrounding the site.
Once inside the sprawling complex known as the Green Zone, home to key government buildings including the Cabinet office, Parliament, foreign embassies and residences of senior politicians, they announced an open-ended sit-in.
At least 125 people, 100 protesters and 25 security personnel, were wounded, according to the Health Ministry.
UN Secretary General Antonio Guterres said he “is following with concern the ongoing protests in Iraq”, calling for restraint.
In a statement, he said that “freedom of expression and peaceful assembly are fundamental rights that must be respected at all times”.
He appealed to “all relevant actors to take immediate steps to de-escalate the situation, avoid any further violence, and ensure the protection of peaceful protesters and state institutions”.
He called for a “peaceful and inclusive dialogue” to form “an effective national government that will be able to deliver on long-standing demands for reform, without further delay”.
Ahmed Aboul Gheit, Secretary General of the Arab League, also appealed to all Iraqi political forces to work quickly to stop the escalation and start a sincere political dialogue.
Mr Aboul Gheit said that “getting things out of control will not be in the interest of Iraq or in the interest of any party”.
Others echoed those concerns.
The EU delegation to Iraq called on all parties to “exercise restraint to prevent further violence” and urged the rivals to “solve issues through a constructive political dialogue within the constitutional framework”.
Dr Anwar Gargash, diplomatic adviser to the UAE President, said “Iraq’s stability means stability to the region and a boost to its security.”
“We are looking forward to a prosperous and stable Iraq capable of solving its internal issues through dialogue and consensus in order to retain its vital role at the Arab and regional levels,” Mr Gargash said.
'Fighting back'
Emerging as a clear winner in October's national election with 73 seats in the 329-seat parliament, Mr Al Sadr sought to form a majority government with Sunni and Kurdish allies, sidelining his Iran-backed rivals, the Co-ordination Framework.
But the CF — an umbrella group that consists of Tehran-allied militias and political parties — along with some smaller parties not directly aligned to Tehran derailed Mr Al Sadr’s efforts.
A series of legal challenges and parliament session boycotts to block candidates put forward by Mr Al Sadr's allies for the role of president, a vital step in government formation, combined with alleged intimidation tactics, forced him to order his MPs to resign last month.
That has given the CF the lead to form the government. In the past week, Mr Al Sadr voiced a series of objections when the CF nominated Shiite politician Mohammed Shia Al Sudani for the role of prime minister.
He has called Mr Al Sudani a “shadow” of his rival, former prime minister Nouri Al Maliki, one of the senior CF leaders.
The years-long antagonism between the two men has been one of the reasons behind the delay in forming a new government, more than 10 months since national elections were held.
As the CF pushed to hold a parliament session on Thursday to choose a new president — who in turn has to give the largest political bloc the task of nominating a prime minister — Mr Al Sadr's followers briefly occupied parliament.
Mr Al Sadr said the move was a “warning”.
As the parliament planned to hold a session on Saturday, the Sadrists once again entered, prompting the speaker to suspend all sessions until further notice.
In his tweet on Sunday, Mr Al Sadr praised what he called a “spontaneous and peaceful revolution that liberated the Green Zone", describing it a “golden opportunity” for change.
“This is a great opportunity to fundamentally change the political system and the constitution,” he said, urging Iraqis not to miss it to "eliminate the darkness, corruption, exclusivity in power, loyalty to the outside, [sectarian-based] quotas, and sectarianism that have perched upon Iraq”.
The quickly unfolding events have raised the stakes and intensified the struggle for influence between Mr Al Sadr and his Iran-backed rivals.
“The coming period will be a one of escalation,” Hadi Jalo, chairman of the Political Decision think tank in Baghdad, told The National.
“Al Sadr’s message is, 'I also can hamper your efforts to form the government,'” Mr Jalo said. “The Sadrist movement is now fighting back and has succeeded in putting everything on hold now.”
Saturday’s move took Mr Al Sadr’s rivals by surprise, showing division among its leaders.
Mr Al Maliki and Qais Al Khazaali, who commands the militia Asaib Ahl Al Haq — both prominent rivals to Mr Al Sadr — insisted on issuing a statement that called for counter-protests.
But senior leaders Hadi Al Amiri, Haider Al Abadi and Ammar Al Hakim issued more conciliatory statements, refusing escalation and calling for dialogue.
Hours later, the CF called off the protests.
Mr Al Sadr has not responded to their calls for dialogue and instead ordered his supporters to continue their sit-in inside the parliament.
This has raised questions as to what Mr Al Sadr's aim may be.
“Since it’s hard to go back to parliament, Mr Al Sadr may now aim at dissolving the legislative body, keeping the caretaker government and holding early elections,” Mr Jalo said.
Few hours after Mr Al Sadr's statement, the CF called for a peaceful demonstration outside the Green Zone on Monday afternoon.
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Day 2, Dubai Test: At a glance
Moment of the day Pakistan’s effort in the field had hints of shambles about it. The wheels were officially off when Wahab Riaz lost his run up and aborted the delivery four times in a row. He re-measured his run, jogged in for two practice goes. Then, when he was finally ready to go, he bailed out again. It was a total cringefest.
Stat of the day – 139.5 Yasir Shah has bowled 139.5 overs in three innings so far in this Test series. Judged by his returns, the workload has not withered him. He has 14 wickets so far, and became history’s first spinner to take five-wickets in an innings in five consecutive Tests. Not bad for someone whose fitness was in question before the series.
The verdict Stranger things have happened, but it is going to take something extraordinary for Pakistan to keep their undefeated record in Test series in the UAE in tact from this position. At least Shan Masood and Sami Aslam have made a positive start to the salvage effort.
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THE SPECS
Aston Martin Rapide AMR
Engine: 6.0-litre V12
Transmission: Touchtronic III eight-speed automatic
Power: 595bhp
Torque: 630Nm
Price: Dh999,563
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
Formula One top 10 drivers' standings after Japan
1. Lewis Hamilton, Mercedes 306
2. Sebastian Vettel, Ferrari 247
3. Valtteri Bottas, Mercedes 234
4. Daniel Ricciardo, Red Bull 192
5. Kimi Raikkonen, Ferrari 148
6. Max Verstappen, Red Bull 111
7. Sergio Perez, Force India 82
8. Esteban Ocon, Force India 65
9. Carlos Sainz Jr, Toro Rosso 48
10. Nico Hulkenberg, Renault 34
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Korean Film Festival 2019 line-up
Innocent Witness, June 26 at 7pm
On Your Wedding Day, June 27 at 7pm
The Great Battle, June 27 at 9pm
The Witch: Part 1. The Subversion, June 28 at 4pm
Romang, June 28 at 6pm
Mal Mo E: The Secret Mission, June 28 at 8pm
Underdog, June 29 at 2pm
Nearby Sky, June 29 at 4pm
A Resistance, June 29 at 6pm
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More coverage from the Future Forum
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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.”
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Scoreline
Al Wasl 1 (Caio Canedo 90 1')
Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')
Red cards: Ismail Ahmed (Al Ain) 77'
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE