Iran's military released a video in September last year that it said showed missiles being launched at Iranian Kurdish opposition positions in Iraq. EPA
Iran's military released a video in September last year that it said showed missiles being launched at Iranian Kurdish opposition positions in Iraq. EPA
Iran's military released a video in September last year that it said showed missiles being launched at Iranian Kurdish opposition positions in Iraq. EPA
Iran's military released a video in September last year that it said showed missiles being launched at Iranian Kurdish opposition positions in Iraq. EPA

Iraq says it has moved Kurdish dissident groups away from Iran border


Sinan Mahmoud
  • English
  • Arabic

Iraq has moved the camps of armed Iranian Kurdish opposition groups away from the border with Iran and deeper into its own territory, Iraqi Foreign Minister Fuad Hussein said on Tuesday.

The announcement came days ahead of Iran's deadline for Iraq to disarm the opposition groups, which are based in the autonomous Iraqi Kurdistan region.

“All the necessary measures have been taken according to the agreement with Iran to remove these groups from the borders and relocate them to camps deep within Iraqi Kurdistan,” Mr Hussein told reporters at a joint press conference with his Austrian counterpart in Baghdad.

The region has for decades hosted camps and rear bases operated by Kurdish dissident groups from Turkey and Iran.

They include the Kurdistan Workers' Party (PKK), which is based in Turkey but also operates in Iraq. It has been designated a terrorist group by the US and EU. The main Iranian groups are the Free Life Party of Kurdistan, known by its Kurdish acronym PJAK, and the Democratic Party of Iranian Kurdistan.

The presence of these groups in northern Iraq has been a source of tension between Baghdad and its neighbours.

“Our constitution doesn’t allow to any non-Iraqi, or even Iraqi group or party to use the Iraqi territories to attack neighbouring countries,” Mr Hussein said.

“So we deal with these groups according to the constitution. Therefore, we have prolonged and honest discussions with the Iranian and Turkish sides in this regard.

“These groups are not allowed to cross the border and use their weapons against the Iranian government,” he said.

Iran and Turkey have carried out repeated attacks on the Kurdish opposition groups, accusing them of destabilising their security, and have repeatedly called on Baghdad and the Kurdistan regional government to disarm and expel these groups.

Mr Hussein did not say whether the Iranian opposition groups were disarmed or whether wanted members had been handed over to Iran.

He said he would visit Tehran on Wednesday.

“We are committed to this agreement, so we expect the Iranian side not to resort to violence against Iraqi Kurdistan and the sovereignty of Iraq,” he said.

Reopening Austrian Embassy

During his visit to Baghdad on Tuesday, Foreign Minister Alexander Schallenberg reopened the Austrian embassy after a 30-year closure.

“We are back and we mean business,” Mr Schallenberg said during the reopening of the embassy, which is located in the Babylon Rotana Hotel in the Baghdad city centre.

Vienna closed the embassy in the middle of Gulf War in 1991. Since then, the Austrian embassy in neighbouring Jordan took on the functions of the Baghdad embassy.

“It is a historic event to resume Iraq-Austria relations,” he said during a joint press conference.

Iraq is a “key country in the region and it plays an extremely important role in the stability and security of the entire region”, he added.

The Austrian Foreign Minister was accompanied by several representatives of Austrian companies, as there are now more “opportunities for work in Iraq for the Austrian companies and the European ones in general”, Mr Hussein said during the press conference.

Both sides also discussed resuming flights between Baghdad and Vienna by Austrian Airlines.

Mr Schallenberg met the Iraqi President, Prime Minister and Parliament Speaker during his visit. On Wednesday, he will visit the Kurdish region in northern Iraq.

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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.”

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Dubai Creek Open in numbers
  • The Dubai Creek Open is the 10th tournament on this year's Mena Tour
  • It is the first of five events before the season-concluding Mena Tour Championship
  • This week's field comprises 120 players, 21 of which are amateurs
  • 15 previous Mena Tour winners are competing at Dubai Creek Golf and Yacht Club  
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Updated: September 12, 2023, 7:58 PM