Iran launched another ballistic missile and drone-bombing campaign on Wednesday, attacking the bases of an Iranian-Kurdish opposition group in northern Iraq, killing at least nine civilians and wounding dozens of others. The Islamic Revolutionary Guard Corps, a branch of Iran's armed forces, said on Wednesday that 73 ballistic missiles had been fired at Kurdish opposition groups based in the Kurdish Region of Iraq.
Iraq will summon the Iranian ambassador in Baghdad to hand over a note of protest over the incident, Iraqi Foreign Ministry spokesman Ahmed Al Sahaf said.
The strikes focused on Koya, about 60 kilometres east of Erbil, said Soran Nuri, a member of the Democratic Party of Iranian Kurdistan. The group, known by the acronym KDPI, is a leftist armed opposition force banned in Iran.
US State Department spokesman Ned Price condemned Iran’s latest attacks as an “unjustified violation” of Iraqi sovereignty.“ We are also aware of reports of civilian casualties and deplore any loss of life caused by today’s attack,” Mr Price said. “Moreover, we further condemn comments from the government of Iran threatening additional attacks against Iraq.”
Iran’s state-run IRNA news agency and broadcaster said the country’s Islamic Revolutionary Guard Corps ground forces attacked some bases of a separatist group in the north of Iraq with precision missiles and suicide drones.
The regional health ministry said 32 civilians were wounded.
The strikes hit a military camp, homes, offices and other areas around Koya, Mr Nuri said. He said the attack was continuing.
Associated Press reported ambulances racing through Koya after the attack. Smoke rose from one site as security forces closed the area off.
By early afternoon, shelling renewed with six missiles in the area of Koysinjaq outside Erbil.
Iraq's Foreign Ministry condemned the attack “in the strongest possible terms”, saying it was a “dangerous development that threatens Iraq's security and sovereignty”.
Iran sent 20 explosives-laden drones to four areas in the Kurdistan Region, the statement said.
The Kurdistan Regional Government said the “attacks on opposition groups through the Islamic Republic of Iran’s missiles, under any pretext, are an incorrect stance which promotes a misleading interpretation of the course of events”.
The parliamentary group affiliated to the Patriotic Union of Kurdistan, one of the region's two main political parties, called the attack a “dangerous precedence that affects the security, stability and sovereignty of Iraq and Kurdistan”.
“At the same time, we stress that it is not allowed to use Iraqi and Kurdistan territories to threaten the security of neighbouring countries,” it said.
The UN mission to Iraq said the country "rejects the notion that it can be treated as the region’s 'backyard' where neighbours routinely, and with impunity, violate its sovereignty".
It added that "rocket diplomacy is a reckless act with devastating consequences. These attacks need to cease immediately".
On Saturday and Monday, the IRGC sent a wave of drone and artillery strikes against Kurdish positions.
Wednesday's attack came hours before MPs were set to meet in Baghdad to address a political impasse that has prevented the formation of a government since elections in October
They are scheduled to vote on the resignation of Parliament Speaker Mohammed Al Halbousi and elect a deputy speaker.
The strikes appeared to be a response to the protests in Iran against the death of a 22-year-old Iranian-Kurdish woman, Mahsa Amini, who was detained by the nation’s morality police.
Protests have spread across at least 46 cities, towns and villages in Iran, including Tehran.
UN Secretary General Antonio Guterres called on Iran on Wednesday to refrain from using unnecessary or disproportionate force against protesters.
Mr Guterres added through a spokesman that authorities should swiftly conduct an impartial investigation into Amini's death.
“We are increasingly concerned about reports of rising fatalities, including women and children, related to the protests,” Stephane Dujarric said.
“We underline the need for a prompt, impartial and effective investigation into Ms Mahsa Amini’s death by an independent, competent authority.”
Fars news agency said on Tuesday that about 60 people had been killed since Amini's death on September 16, up from an official toll of 41 authorities on Saturday.
Officials said on Monday they had made more than 1,200 arrests, including activists, lawyers and journalists.
Iran's police command on Wednesday said the force would respond “with all their might”.
The New York-based Committee to Protect Journalists, meanwhile, said it had documented the arrests of at least 23 journalists as the clashes between security forces and protesters continued.
On Wednesday, it called on Iranian authorities to immediately release arrested journalists who covered Amini’s death and protests.
Mr Dujarric added that Mr Guterres had stressed the need to respect human rights, including freedom of expression, peaceful assembly, and association during a meeting with Iranian President Ebrahim Raisi on September 22.
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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.
The%20specs
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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