A woman wounded by September's Israeli pager attacks in Lebanon attends events in Tehran. IRNA
A woman wounded by September's Israeli pager attacks in Lebanon attends events in Tehran. IRNA
A woman wounded by September's Israeli pager attacks in Lebanon attends events in Tehran. IRNA
A woman wounded by September's Israeli pager attacks in Lebanon attends events in Tehran. IRNA

Iran marks five years since death of Suleimani as its influence wanes in Middle East


Sinan Mahmoud
  • English
  • Arabic

Thousands turned out in Iran on Thursday for ceremonies to mark five years since the assassination of Qassem Suleimani, commander of the Islamic Revolutionary Guard Corps’ Quds Force, who died along with eight others in a US drone attack in Baghdad.

The displays of remembrance come as Iran’s influence in the Middle East wanes, with its self-proclaimed Axis of Resistance – a coalition of anti-Israel militias organised for years by Maj Gen Suleimani – reeling from military confrontations with Israel on several fronts.

Shortly after midnight on January 3, 2020, Maj Gen Suleimani arrived at Baghdad airport from Syria. He was received by Abu Mahdi Al Muhandis, at the time an influential militia leader in Iraq and deputy head of its Popular Mobilisation Forces, which is mainly made up of Iran-backed militias.

As the two men and seven aides drove away from the airport, two missiles were fired from drones. One hit the entourage's vehicle, while the other missed its target. A third missile followed, striking the speeding car carrying the two leaders. Both were killed.

State-run media on Thursday aired footage showing thousands of mourners flocking to Saheb Al Zaman mosque in Kerman, central Iran, where the commander is buried. Some held pictures of Maj Gen Suleimani and his aides, while utility poles on streetsides were decorated with Iranian flags.

In Tehran, demonstrators chanted: "Down with America" and "Down with Israel" as they held up photographs of the general.

Attending the rally at the capital's Imam Khomeini Grand Mosalla mosque, President Masoud Pezeshkian vowed to "neutralise the enemy's sinister schemes to create discord among Muslims".

"We will stand on the side of the truth. We will continue on the path of martyr Suleimani with strength and defeat these cowards," Mr Pezeshkian told the crowd.

On Wednesday, Iran’s supreme leader Ayatollah Ali Khamenei addressed a gathering that included relatives of Maj Gen Suleimani, as well as those of his late aides and people killed last January in a suicide attack on a memorial for the commander in Kerman, according to the official Islamic Republic News Agency.

Mr Khamenei also received survivors of attacks carried out by Israel in Lebanon last year, during which booby-trapped pager devices killed several militants from the Iran-backed armed group Hezbollah. Thousands were injured in those attacks, with the wounds to survivors on display this week at remembrance ceremonies in Iran.

Iran's supreme leader Ayatollah Ali Khamenei described the late Qassem Suleimani as 'the military commander, the great fighter, and the dear and kind companion'. EPA
Iran's supreme leader Ayatollah Ali Khamenei described the late Qassem Suleimani as 'the military commander, the great fighter, and the dear and kind companion'. EPA

The Israeli Prime Minister's office in November claimed Israel's forces were responsible for the simultaneous explosion in multiple locations of the electronic communication devices held by Hezbollah members. The dated technology was used by the militants as a means to avoid surveillance.

Iran's supreme leader on Wednesday described Mr Suleimani as “the military commander, the great fighter, and the dear and kind companion”, according to IRNA. He hailed the “courageous soldier” for his work “at the right time and promptly, with bravery, in the arenas of jihad and resistance”.

A major ceremony was also held in the Iraqi capital on Thursday night by Iran-backed militias and their supporters at the site of the 2020 drone strike on a road to Baghdad airport, where statues of Maj Gen Suleimani and Mr Al Muhandis stand. They held Iraqi and PMF flags and red roses, and lit candles at the scene.

The anniversary of the commander's death follows significant setbacks for Iran's allies and armed proxies that operate around the Middle East.

Gaza-based militant group Hamas has suffered severe losses in its war with Israel, including the assassination in Tehran of its leader Ismail Haniyeh and his successor Yahya Sinwar in the Palestinian enclave.

Similarly, Israel has eliminated Hezbollah leader Hassan Nasrallah and several of the group’s commanders in Lebanon. This series of blows against Tehran was capped last month by the toppling of president Bashar Al Assad's Iran-aligned regime in Syria, which prompted all Iranian IRGC officers and Tehran-allied militias to withdraw from the country.

In Yemen, the Iran-backed Houthi rebels, who have been launching attacks on merchant vessels in the Red Sea "in solidarity with Gaza" amid the war with Israel, have also been reeling under heavy bombardments from Israel and the US.

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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: 5.0-litre supercharged V8

Transmission: Eight-speed auto

Power: 575bhp

Torque: 700Nm

Price: Dh554,000

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The specs: 2017 Dodge Viper SRT

Price, base / as tested Dh460,000

Engine 8.4L V10

Transmission Six-speed manual

Power 645hp @ 6,200rpm

Torque 813Nm @ 5,000rpm

Fuel economy, combined 16.8L / 100km

UAE currency: the story behind the money in your pockets
Updated: January 02, 2025, 7:02 PM