The US and Iraq have condemned Iranian cross-border attacks that hit targets in the Kurdistan Region of Iraq on Sunday, killing a member of a Kurdish militia.
The Central Command, the authority responsible for American forces in the Middle East, said on Monday that the missile and drone strikes had taken place “near Erbil” governorate.
Iraq also condemned the attacks on Monday, the state news agency INA reported, citing its foreign ministry.
“The repeated attacks carried out by Iranian and Turkish forces with missiles and drones on the Kurdistan region are a violation of Iraq's sovereignty,” the foreign ministry said.
Nabaz Abdulhamid, mayor of the governorate's eponymous capital, told news outlet Rudaw that Iranian-Kurdish opposition groups were the target of the strikes along the provincial border.
Iran accuses the opposition groups of involvement in anti-government protests that have swept the country since mid September.
The Islamic Revolutionary Guard Corps, a branch of Iran’s armed forces, claimed responsibility for the attack in a post on social media site Telegram, saying its target was “separatist anti-Iranian terrorist groups”.
The Democratic Party of Iranian Kurdistan, a group that has previously been the target of Iranian attacks, said the drones and missiles also struck a refugee camp.
“A member of the peshmerga was killed in an Iranian strike on the area of Koysinjaq”, also known as Koya, Ali Boudaghi, a party official, told AFP on Monday.
The term peshmerga generally refers to Kurdish fighters from northern Iraq who are a part of the official security forces of the Kurdistan regional government.
However, the term is sometimes used to refer to fighters aligned with the Democratic Party of Iranian Kurdistan.
In pictures: Iran's fleets of drones
On Saturday, Esmail Ghaani, commander of the IRGC's Quds Force, was in Baghdad where he reportedly warned that Iran could mount a ground offensive into the semi-autonomous Kurdish region of Iraq to attack dissidents blamed by Tehran for stirring up unrest.
On Monday, Iran hinted at further action in the Kurdish region, should the Kurdistan regional government or the Iraqi central government in Baghdad be unable to stop the activities of separatist groups.
Iranian Foreign Ministry spokesman Nasser Kanani stressed that Iran “desires that there be no threat to Iran's security from Iraqi territory”.
“We hope that the Iraqi government will prevent the activities of separatist and terrorist groups against the security of Iran and its borders by expanding its sovereignty and deploying border guards at the common border, so that Iran does not have to take other deterrent measures to repel threats,” he said.
About 400 protesters and 50 members of the security forces have died over two months of protests in Iran. Demonstrators initially called for more women’s rights before demanding improved living conditions amid high inflation and shortages of basic goods.
A series of missile and drone attacks on Iraq's Kurdish region last week, which were also aimed at the Democratic Party of Iranian Kurdistan in Koya, killed at least two people.
Those attacks were widely condemned by the UN and the Iraqi government as an infringement of Iraq’s sovereignty.
“Repeated attacks, violating Iraqi sovereignty, must cease,” the UN Assistance Mission for Iraq (Unami) said in a statement on Monday.
“Such aggression not only recklessly heightens tensions but also causes tragedy,” it said.
“Whatever external score a neighbouring country is seeking to settle, the use of established diplomatic instruments is the only way forward.
“Iraq should not be used as an arena to settle scores and its territorial integrity must be respected.”
The regional government in Kurdistan said the attacks were an “unjustified and flagrant violation of international norms and good neighbourly relations”.
In footage posted by Iraqi security monitoring account Tammuz Intel on Monday morning — which could not immediately be verified — heavy gunfire could be heard at night, reportedly by Kurdish fighters trying to shoot down an Iranian drone.
A buzzing sound similar to that of a propeller-driven drone could be heard overhead. In other footage posted online, a large explosion could be seen from Koya University.
Koya has been the target of Iranian attacks several times. A salvo of Iranian missiles struck a Democratic Party of Iranian Kurdistan office there in 2018, killing 18 people.
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Scoreline
Saudi Arabia 1-0 Japan
Saudi Arabia Al Muwallad 63’
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Day 3, Dubai Test: At a glance
Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.
Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.
The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
More from Neighbourhood Watch
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17
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The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
Where to apply
Applicants should send their completed applications - CV, covering letter, sample(s) of your work, letter of recommendation - to Nick March, Assistant Editor in Chief at The National and UAE programme administrator for the Rosalynn Carter Fellowships for Mental Health Journalism, by 5pm on April 30, 2020.
Please send applications to nmarch@thenational.ae and please mark the subject line as “Rosalynn Carter Fellowship for Mental Health Journalism (UAE programme application)”.
The local advisory board will consider all applications and will interview a short list of candidates in Abu Dhabi in June 2020. Successful candidates will be informed before July 30, 2020.
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