Heavily armed militias operating outside of state control are a "cause for chaos", Britain's ambassador to Iraq told The National on Wednesday, after a surge in attacks on foreign troops and shipping in the region since the Israel-Gaza war began two months ago.
American and other foreign troops have been attacked at least 50 times in Iraq and Syria since Israel began a devastating siege and military operation in the Gaza Strip in retaliation for the deadly cross-border attack by Gaza militants on October 7.
Some of the attacks have been claimed by the Islamic Resistance in Iraq, which some experts say is a collective term adopted by Iran-backed armed groups to operate anonymously under Tehran's orders.
Among the targets were Al Asad in Anbar province, a military base near Baghdad's international airport and Al Harir airbase in the northern city of Erbil, both of which house American and other foreign troops operating in Iraq as part of the Global Coalition against ISIS.
Ambassador Stephen Hitchen said there was a significant number of British troops at Iraqi military bases and their lives were at risk.
"We are not out of the woods, it's an ongoing question for us with the Americans, the Iraqi government – we are all on the same side, none of us want these attacks to happen," Mr Hitchen told The National on a visit to the UAE.
"It will take years to solve this problem and in the meantime Iraq will remain a fragile environment."
"Stopping the attacks is hard, it's genuinely hard."
Mr Hitchen said armed Iraqi groups had now been given longer-range weapons.
"If they were only firing them from 5 kilometres away, or 10km away, you can patrol that area. But if you put 100km, it's an enormous area, you can't control it.
"The difference now, I think, is the kind of weaponry that they have is far more serious than it used to be," he added.
"Militias out of state control with that kind of weaponry is a cause for chaos ... it's no secret that they are trained and funded by Iran.
"It's not just a question of giving them the ability to defend themselves. It's a question of using them as a strategic tool," he said.
Iraq in 2016 passed a bill recognising militia groups fighting ISIS, collectively known as the Popular Mobilisation Forces, as a government body operating alongside the military. It gave militia members salaries and pensions that mirrored those of the military and police.
However, the militias, which are backed strongly by Iran, have publicly stated US and foreign assets will continue to be targeted as long as Washington backs Israel in the war on Gaza.
Mr Hitchen said the recent attacks were motivated not only by the Gaza war but also by "internal Iraqi affairs", with elaborating.
"We are invited to be there and were invited to help the Iraqis [to fight] ISIS and then ISIS isn't finished," said the ambassador. "It's sort of down but it's not out. And there are lots of things left to do."
New era in British-Iraqi relations
Mr Hitchen said the UK was seeking to deepen its "positive and historic" relationship with Iraq, which has been dominated by security issues for the past 20 years.
"What we want now is to widen it to lots of different files. So, water and climate ... drugs is a growing problem in Iraq," he said.
Iraqi Prime Minister Mohammed Shia Al Sudani is set to make an official visit to London next year, although dates have yet to be announced.
Mr Hitchen said Mr Al Sudani's visit would reflect the "breadth of the relationship".
"It's very important for us, I think it will be quite wide-ranging," he said. "This is not just about military or security matters, it's also about much wider development and economic issues.
"I think now the time has come to help Iraq and to develop a joint relationship which is much broader," he added.
Iraq is now a country of "possibilities", not merely a "country of risk".
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The specs
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Power: 220 and 280 horsepower
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Transmission: eight-speed automatic
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Global state-owned investor ranking by size
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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.”
The biog
Name: Sari Al Zubaidi
Occupation: co-founder of Cafe di Rosati
Age: 42
Marital status: single
Favourite drink: drip coffee V60
Favourite destination: Bali, Indonesia
Favourite book: 100 Years of Solitude
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
ENGLAND SQUAD
Team: 15 Mike Brown, 14 Anthony Watson, 13 Ben Te'o, 12 Owen Farrell, 11 Jonny May, 10 George Ford, 9 Ben Youngs, 1 Mako Vunipola, 2 Dylan Hartley, 3 Dan Cole, 4 Joe Launchbury, 5 Maro Itoje, 6 Courtney Lawes, 7 Chris Robshaw, 8 Sam Simmonds
Replacements 16 Jamie George, 17 Alec Hepburn, 18 Harry Williams, 19 George Kruis, 20 Sam Underhill, 21 Danny Care, 22 Jonathan Joseph, 23 Jack Nowell
Key Points
- Protests against President Omar Al Bashir enter their sixth day
- Reports of President Bashir's resignation and arrests of senior government officials
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press
RESULTS
1.45pm: Handicap (TB) Dh80,000 (Dirt) 1,400m
Winners: Hyde Park, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard
2.45pm: Conditions (TB) Dh100,000 (D) 1,200m
Winner: Hurry Up, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Shadwell Jebel Ali Mile Group 3 (TB) Dh575,000 (D) 1,600m
Winner: Blown by Wind, Xavier Ziani, Salem bin Ghadayer
3.45pm: Handicap (TB) Dh72,000 (D) 1,600m
Winner: Mazagran, Tadhg O’Shea, Satish Seemar.
4.15pm: Handicap (TB) Dh64,000 (D) 1,950m
Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman
4.45pm: Handicap (TB) Dh84,000 (D) 1,000m
Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Movie: Saheb, Biwi aur Gangster 3
Producer: JAR Films
Director: Tigmanshu Dhulia
Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi
Rating: 3 star
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
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