Supporters of Iraqi cleric Moqtada Al Sadr perform Friday prayers inside Baghdad's Green Zone. They are opposed to the nomination of an ally of Nouri Al Maliki as prime minister. EPA
Supporters of Iraqi cleric Moqtada Al Sadr perform Friday prayers inside Baghdad's Green Zone. They are opposed to the nomination of an ally of Nouri Al Maliki as prime minister. EPA
Supporters of Iraqi cleric Moqtada Al Sadr perform Friday prayers inside Baghdad's Green Zone. They are opposed to the nomination of an ally of Nouri Al Maliki as prime minister. EPA
Supporters of Iraqi cleric Moqtada Al Sadr perform Friday prayers inside Baghdad's Green Zone. They are opposed to the nomination of an ally of Nouri Al Maliki as prime minister. EPA

Iraq's former PM calls for an end to sit-in protest at parliament


Robert Tollast
  • English
  • Arabic

Former Iraqi prime minister Nouri Al Maliki has called for an immediate end to the occupation of parliament so his party and its allies can convene to form the next government.

Thousands of protesters loyal to Shiite cleric and political leader Moqtada Al Sadr stormed parliament on July 30, protesting against the nomination of Muhammad Al Sudani for prime minister.

Mr Al Sudani is a former Cabinet minister regarded as being close to Mr Al Maliki, a political opponent of Mr Al Sadr.

Since then, the protesters have left the parliament building itself, but remain camped outside in Baghdad's Green Zone, the seat of government power that includes offices and residences of Iraq's elites, as well as foreign embassies.

"There is no solution for parliament and no early elections without the return of parliamentary sessions," Mr Al Maliki said on Monday night.

Parliament alone "discusses these demands and what it decides we will execute", he said in a speech marking the Shiite mourning ritual of Ashura.

Mr Al Sadr has also called for early elections after withdrawing his 73 MPs from the 329-member chamber in June, in protest at what he called a corrupt political system.

That placed the rival coalition, the Iran-aligned Co-ordination Framework, in pole position to form the next government after their parties, including Mr Al Maliki’s State of Law coalition, gained Mr Al Sadr’s vacant seats.

As the sit-in continues, Mr Al Sadr said that dissolving the Iraqi parliament has become a popular demand, but Mr Al Maliki has said that few Iraqis are likely to vote in another national election.

October's elections had been called early, following an almost nationwide protest movement against the country's elite, which was met with bloody crackdowns.

  • Supporters of Iraqi Shiite cleric Moqtada Al Sadr, head of the Sadrist movement, gather inside Iraq's Parliament buliding. EPA
    Supporters of Iraqi Shiite cleric Moqtada Al Sadr, head of the Sadrist movement, gather inside Iraq's Parliament buliding. EPA
  • The cleric's followers enter the Parliament building in a show of force. EPA
    The cleric's followers enter the Parliament building in a show of force. EPA
  • Anti-riot policemen use water cannons in a bid to disperse supporters of Mr Al Sadr. EPA
    Anti-riot policemen use water cannons in a bid to disperse supporters of Mr Al Sadr. EPA
  • A demonstrator lies on the desk of the Speaker of the Iraqi parliament. AFP
    A demonstrator lies on the desk of the Speaker of the Iraqi parliament. AFP
  • Supporters of Mr Al Sadr flash the victory sign as they gather inside the Iraqi Parliament. AFP
    Supporters of Mr Al Sadr flash the victory sign as they gather inside the Iraqi Parliament. AFP
  • There's always time for a selfie. AFP
    There's always time for a selfie. AFP
  • The demonstrators are protesting the recent selection of Mohammed Al Sudani as the official nominee of the Co-ordination Framework bloc. AFP
    The demonstrators are protesting the recent selection of Mohammed Al Sudani as the official nominee of the Co-ordination Framework bloc. AFP
  • It is the largest protest since federal elections were held in October. AFP
    It is the largest protest since federal elections were held in October. AFP
  • The protesters sit in the building, in Baghdad's high-security Green Zone. AFP
    The protesters sit in the building, in Baghdad's high-security Green Zone. AFP
  • A person holds a portrait of Mr Al Sadr. Reuters
    A person holds a portrait of Mr Al Sadr. Reuters
  • Protesters raise flags and a portrait of Mr Al Sadr. Reuters
    Protesters raise flags and a portrait of Mr Al Sadr. Reuters
  • Al Sadr posted a statement on Twitter telling supporters their message had been received. Reuters
    Al Sadr posted a statement on Twitter telling supporters their message had been received. Reuters
  • People stand outside of the Parliament building during the protest. Reuters
    People stand outside of the Parliament building during the protest. Reuters
  • Supporters of Iraqi Shiite cleric Moqtada Al Sadr protest against corruption inside the Parliament building in Baghdad, Iraq. Reuters
    Supporters of Iraqi Shiite cleric Moqtada Al Sadr protest against corruption inside the Parliament building in Baghdad, Iraq. Reuters
  • Mr Al Sadr's supporters protest against corruption inside the Parliament building in Baghdad. Reuters
    Mr Al Sadr's supporters protest against corruption inside the Parliament building in Baghdad. Reuters
  • Demonstrators protest inside the Parliament building. Reuters
    Demonstrators protest inside the Parliament building. Reuters
  • Protesters demonstrate inside the Parliament building. Reuters
    Protesters demonstrate inside the Parliament building. Reuters
  • Protesters pull down a wall with chains and ropes during a protest against corruption. Reuters
    Protesters pull down a wall with chains and ropes during a protest against corruption. Reuters
  • Supporters of Mr Al Sadr carry a person during a protest against corruption in the Green Zone in Baghdad. Reuters
    Supporters of Mr Al Sadr carry a person during a protest against corruption in the Green Zone in Baghdad. Reuters
  • Iraqi security forces stand outside the main gate of Baghdad's Green Zone as demonstrators protest against the nomination of Mohammed Shia Al Sudani as prime minister. AFP
    Iraqi security forces stand outside the main gate of Baghdad's Green Zone as demonstrators protest against the nomination of Mohammed Shia Al Sudani as prime minister. AFP
  • Mr Al Sadr's supporters gather outside the main gate of Baghdad's Green Zone. AFP
    Mr Al Sadr's supporters gather outside the main gate of Baghdad's Green Zone. AFP
  • Supporters of Mr Al Sadr protest against corruption in Baghdad. Reuters
    Supporters of Mr Al Sadr protest against corruption in Baghdad. Reuters
  • Protesters break down barricades in Baghdad. Reuters
    Protesters break down barricades in Baghdad. Reuters
  • Supporters of Mr Al Sadr demonstrate in Baghdad. Reuters
    Supporters of Mr Al Sadr demonstrate in Baghdad. Reuters
  • Iraqi security forces prepare to meet the demonstrators in Baghdad's Tahrir Square. AFP
    Iraqi security forces prepare to meet the demonstrators in Baghdad's Tahrir Square. AFP
  • Supporters of Mr Al Sadr gather in Baghdad's Tahrir Square to protest against the nomination of Mohammed Shia Al Sudani as prime minister. AFP
    Supporters of Mr Al Sadr gather in Baghdad's Tahrir Square to protest against the nomination of Mohammed Shia Al Sudani as prime minister. AFP
  • Protesters demonstrate in Baghdad. AFP
    Protesters demonstrate in Baghdad. AFP
  • Mr Al Sadr's supporters walk across a bridge to the Green Zone during a protest against corruption in Baghdad. Reuters
    Mr Al Sadr's supporters walk across a bridge to the Green Zone during a protest against corruption in Baghdad. Reuters

The Iraqi constitution stipulates that a legislature can be dissolved only through a vote passed by an absolute majority. A vote can be requested by a third of MPs, or by the prime minister with the president's approval.

Since October’s national elections more than 10 months ago, Iraq’s political parties have been unable to form a government.

Building a government involves selecting a president first, who then announces the largest political bloc in parliament and gives them the task of nominating a prime minister, who then selects Cabinet members.

However, this process has been derailed by political bickering, including claims of electoral fraud and boycotts of parliament. These stopped the election of a president.

A row between Kurdish parties over who to select as president — the Kurds hold the presidency under an informal agreement — and a series of Supreme Court challenges made against candidates nominated by Mr Al Sadr's allies, have further prolonged this process.

Since the US-led invasion of 2003, the position of prime minister has traditionally been held by a Shiite Arab, that of parliamentary speaker by a Sunni Arab and the presidency by a Kurd.

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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.”

Heather, the Totality
Matthew Weiner,
Canongate 

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6pm, Opening ceremony, followed by:
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BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

How to improve Arabic reading in early years

One 45-minute class per week in Standard Arabic is not sufficient

The goal should be for grade 1 and 2 students to become fluent readers

Subjects like technology, social studies, science can be taught in later grades

Grade 1 curricula should include oral instruction in Standard Arabic

First graders must regularly practice individual letters and combinations

Time should be slotted in class to read longer passages in early grades

Improve the appearance of textbooks

Revision of curriculum should be undertaken as per research findings

Conjugations of most common verb forms should be taught

Systematic learning of Standard Arabic grammar

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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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