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Several US personnel and a member of Iraq's security forces were wounded in a ballistic missile attack on Ain Al Asad airbase, west of Baghdad, on Saturday, the US military said.
The strike on the US base in Anbar province, which mainly houses Iraqi forces, is the largest missile attack on US troops since Iran struck the same base in 2020, in retaliation for an attack that killed Iranian Maj Gen Qassem Suleimani near Baghdad.
Iran-backed militant groups fired a number of ballistic missiles and rockets from inside Iraq at about 6.30pm local time, the US military confirmed.
“The air defence systems in the base intercepted most of the missiles, while others landed in the base,” a statement said.
US forces did not confirm the extent of any injuries but said personnel were being evaluated for “head injuries”, while “damage assessments are ongoing”.
Since the Israel-Gaza war began in October, the US military has come under attack at least 58 times in Iraq and another 83 times in Syria by Iran-backed militants, usually with a mix of rockets and one-way attack drones.
The militants are seeking to impose a cost on the US for its support of Israel against the Iran-backed Palestinian militant group Hamas.
In a dangerous development, Iran on Monday struck Erbil, the capital of Iraq's semi-autonomous Kurdistan region, with ballistic missiles in what it said was an attack on Israeli spy headquarters, a claim denied by Iraqi and Iraqi-Kurdish officials. The strikes, Iran said, were in retaliation for attacks inside Iran and an assassination of four senior Islamic Revolutionary Guard Corps' advisers in Syria.
Five civilians, including two children, were killed in the missile strike in Erbil, Iraqi authorities said.
The UN special representative to Iraq, Jeanine Hennis-Plasschaert, on Saturday appealed to all sides to exercise maximum restraint.
"The Middle East is at a critical juncture, with the conflict raging in Gaza and armed action elsewhere threatening a major conflagration," Ms Plasschaert said in a statement.
"Iraq is at risk of being drawn even further into this conflict."
These attacks, she warned, "stand to undo the hard-won stability of the country and the achievements it has made in recent years".
Iraq is deeply concerned about becoming a battleground for fighting between the US, Israel and Iran.
Iraq's Prime Minister Mohammed Shia Al Sudani announced moves to evict US forces after the escalation between them and Tehran-allied Shiite militias. More than a dozen fighters, including a senior militia leader, have been killed in US strikes.
The Pentagon said it has not been formally notified of any plans to end US troop presence in the country and says its forces are deployed to Iraq at the invitation of the government in Baghdad.
The US has 900 troops in Syria and 2,500 in Iraq on a mission to advise and assist local forces trying to prevent a resurgence of ISIS, which in 2014 seized large parts of both those countries before being defeated.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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.”
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Top 10 in the F1 drivers' standings
1. Sebastian Vettel, Ferrari 202 points
2. Lewis Hamilton, Mercedes-GP 188
3. Valtteri Bottas, Mercedes-GP 169
4. Daniel Ricciardo, Red Bull Racing 117
5. Kimi Raikkonen, Ferrari 116
6. Max Verstappen, Red Bull Racing 67
7. Sergio Perez, Force India 56
8. Esteban Ocon, Force India 45
9. Carlos Sainz Jr, Toro Rosso 35
10. Nico Hulkenberg, Renault 26
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)
