Iraq’s parliament approved a new government headed by Mohammed Shia Al Sudani as prime minster on Thursday, ending more than a year of political deadlock during which the country teetered on the verge of collapse.
The stalemate over the formation of a new government that followed October national elections last year was the longest in Iraq since the 2003 US-led invasion that toppled Saddam Hussein.
The stalemate turned bloody when clashes broke out earlier this year between Shiite militias in Baghdad's Green Zone, the heart of government that contains the parliament buildings and foreign embassies. Dozens of people were killed or wounded.
Mr Al Sudani, a long-time Shiite politician and former minister, had 21 ministries of his Cabinet confirmed, leaving two unfilled, pending agreement among political rivals on the candidates.
In his government agenda submitted earlier to parliament, Mr Al Sudani said he was forming “a coalition government based on the national partnership principle”, referring to an informal power-sharing arrangement — the Muhasasa in Arabic — established in 2003.
Under the agreement, Shiites are entitled to 12 ministries, Sunnis six, Kurds four and the rest distributed among other religious and ethnic groups.
The two unfilled posts are the minister of environment and the minister of construction and housing, to which Kurds are entitled.
Disagreement over government posts continued as preparations were under way for Thursday's session, forcing a postponement twice before being held at 7.30pm.
Mr Al Sudani chose deputy commander of Joint Operations Lt Gen Abdul Amir Al Shammari, a Shiite, as the interior minister and former military officer and MP Thabit Al Baldawi as defence minister.
He kept Kurdish politician Fuad Hussein as foreign minister for a second term and named the head of state-run South Gas Company Hayan Abdul Ghani Abdul Zahra as oil minister.
For the Finance Ministry, he chose long-time deputy finance minster Taif Sami Mohammed.
The Health Ministry went to former minister Salih Al Hasnawi, and the Electricity Ministry to Ziyad Ali Fadhil, who held several senior posts in the ministry.
Mr Al Sudani has set out ambitious plans to introduce economic and financial reforms, improve public services, fight endemic corruption and reduce unemployment and poverty.
He has also promised to amend the elections law within three months and to hold early national elections within a year.
The politician was the nominee of the Co-ordination Framework, the largest political group in parliament and compromising Shiite militias, which controls 138 out of 329 seats.
The UN mission in Iraq welcomed the confirmation of the new government, saying that it “faces many serious challenges that require decisive action”.
Among the challenges, the UN said, the government has to work on “ending impunity and making perpetrators accountable; and reining in non-state armed actors while asserting the state’s authority".
“A strong resolve, across the spectrum, to provide concrete solutions will prove vital,” it added, calling for the swift completion of the Cabinet.
Descended from a well-known tribe in the southern province of Maysan, Mr Al Sudani, 52, started his political career after 2003 as a member of the Shiite Dawa Party.
From 2004 to 2009, he served as member of the provincial council in his home town and as provincial governor for a year.
He ran for election with the State of Law Coalition led by former prime minister Nouri Al Maliki and has won three terms in parliament since 2014.
Among other posts, he served as minister of human rights from 2010 to 2014 and minister of labour and social affairs from 2014 to 2018.
Iraqi anti-government demonstrators — in pictures
He worked in an acting role for several ministries during Mr Al Maliki’s two terms in office from 2006 to 2014.
Mr Al Sudani begins his tenure facing a series of challenges, including the climate crisis, high unemployment, widespread corruption and dilapidated public services.
Frustration over the failure of previous governments to deal with the country’s chronic woes has sparked protests against the political elite who have been in power since 2003.
The largest protests since 2003 broke out in October 2019 in the central and southern parts of the country, leading to the resignation of the government and the approval of a new law that led to early elections, but these achievements came with a heavy price.
The leaderless, youth-led protests were met with a heavy-handed crackdown from security forces and Iran-backed militias.
About 600 protesters and members of security forces were killed in the violence, while tens of thousands were wounded.
Dozens of activists reported intimidation. There were also a number of kidnappings and assassinations.
Activists accused Iran-backed militias of being behind the assassinations while the government and the militias blamed “third parties”, without specifying who they were.
In early 2020, the protests ended due to the crackdowns and the coronavirus pandemic. Dozens of independent candidates who took part in the protests managed to win seats in parliament following the October 2021 elections.
For the first time since 2003, the Sadrist movement, a political group backed by influential Shiite cleric Moqtada Al Sadr, will be absent from the process of forming a new government.
Mr Al Sadr's political bloc emerged as the biggest in parliament after the elections, winning 73 of the 329 seats.
However, he asked his MPs to resign in June after failing to form a majority government with Sunni and Kurdish politicians. The resignation was in protest against what Mr Al Sadr called illegal attempts, mostly by the Co-ordination Framework, to block the formation of a government.
The resignations put the Co-ordination Framework in prime position to form a government, allowing it to name as prime minister Mr Al Sudani, who has been firmly rejected by Mr Al Sadr due to his ties to the cleric's bitter rival Mr Al Maliki.
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The years Ramadan fell in May
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
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- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
'Cheb%20Khaled'
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Company%20profile
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UAE currency: the story behind the money in your pockets
Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
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
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
Origin
Dan Brown
Doubleday
Specs%20
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KILLING OF QASSEM SULEIMANI
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Concrete and Gold
Foo Fighters
RCA records
SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
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No_One Ever Really Dies
N*E*R*D
(I Am Other/Columbia)