Protestors wave flags and hold a poster of Lt Gen Abdul Wahab Al Saadi during a protest in Baghdad, Iraq. AP Photo
Protestors wave flags and hold a poster of Lt Gen Abdul Wahab Al Saadi during a protest in Baghdad, Iraq. AP Photo
Protestors wave flags and hold a poster of Lt Gen Abdul Wahab Al Saadi during a protest in Baghdad, Iraq. AP Photo
Protestors wave flags and hold a poster of Lt Gen Abdul Wahab Al Saadi during a protest in Baghdad, Iraq. AP Photo

There are four likely outcomes to Iraq’s crisis — but only one of them is a real solution


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Iraq’s political system is broken. The government in Baghdad has not delivered on key governance needs, provided basic services or ensured the safety of its citizens. This is the principal reason that has pushed thousands of protesters on to the streets of several Iraqi cities and garnered the support of millions. In addition to these grievances, there is a sense that Iraq’s national identity and the ties that bind Iraqis together are more important than the divisive politics of sectarianism and ethnic divides that politicians have used to rule the country over the past 16 years. The demonstrators are largely Iraqis coming of age and the current political system is all that they have known. Most of them cannot remember the days of Saddam Hussein, and many were not even born under his rule.

Protesters have been chanting for days for a dignified life, a rejection of sectarianism and calling to end Iranian interference in the country. “I will die a martyr rather than live undignified”, “my salary is $8 dollars a month”, “not Sunni, not Shia, we reject your sectarianism’ are among the chants of young Iraqis.

Their anger is not directly solely at the current administration or its Prime Minister Adel Abdel Mahdi. It is more generally aimed at a system that continues to produce weak governments election after election, as leaders are beholden to political deals ensuring various political parties have a piece of the pie, with none going to its citizens.

Any observer of Iraqi politics could tell it was only a matter of time until resentment and frustration flared up. In the recent crackdown on protesters, 93 people have been killed by security forces and that number is expected to rise. But even if this violent government reaction succeeds in breaking the protest movement, it will inevitably reoccur at a later time. And another election, another government born out of horse-trading won’t solve the deep-rooted troubles of the country.

Iraq faces four possible outcomes after this tumultuous week. One scenario is to postpone dealing with the root causes of the crisis in the country – including a failed constitution, patronage systems based on money and arms – and to repeat the mistakes of having a new election cycle. This will only result in politicians jockeying over posts in a new government and delivering the same failed outcomes as they have in the past decade. This option is doomed to fail. Empty promises of ‘anti-corruption crackdown’ and ‘reform’ are no longer acceptable to most young Iraqis. The anger towards all the unfulfilled pledges of previous elections will not subside with more of the same.

The second scenario is of a rapid outbreak of violence, with greater involvement of militias and irregular forces confronting civilians. The Iraqi security apparatus is not one of police and army alone. The number of security groupings, with different affiliations, means the attacks on demonstrators are often not being carried out by regular security forces. With nearly 100 protesters killed, and 4,000 injured, the governing class could be veering towards this option.  Such a path could easily lead to the protest movement going underground and forcing young, unemployed and frustrated young men to have no option but to pick up arms against the state. This type of scenario played out in other Iraqi provinces, especially Al Anbar and Nineveh. Popular discontent was manipulated by armed groups who played on a resentment towards the government and this could happen again. Such a course could lead to major civil unrest and serves no one except armed groups and their supporters.

The anger towards all the unfulfilled pledges of previous elections will not subside with more of the same

A third scenario that many of the older generation and some younger Iraqis find appealing is that of a military coup d’etat. Harking back to the old days of military strongmen imposing ‘order’, some have called for the Iraqi army to step in, regain monopoly over the use of arms and reinstate the Iraqi state. Established in 1921, the Iraqi army is the only remaining state institution that is as old as modern-day Iraq and embodies the national sentiment that many young protesters are calling for. The respected head of the counter-terrorism unit that was removed by Prime Minister Abdel Mahdi and became a catalyst for the protests, Abdulwahab Al Saadi, has been named as a possible nationalist leader who has proven his credentials in the fights against ISIS and corruption. But military coups rarely go as planned and protecting a civilian order with the peaceful transfer of power is not to be undermined.

Or there is a fourth option, which calls for a long, tedious yet vital overhaul of the political system. An interim government that would oversee a national dialogue, with a clear mandate to weed out corruption and disarm militant groups, could be a government of national salvation. Respected military figures and civil society activists would have to be included in such an interim government. In the end a presidential system, secured by checks and balances, should emerge to bring the nation together.

People are tired of the status quo based on sects and religious affiliation. The leadership of Iran-backed Shia Islamist political parties is under intense scrutiny. Meanwhile, the rule of other political parties that claim to speak for specific sectarian or ethnic groupings, rather than the country as a whole, has been rejected. People will not accept another "musical chairs" exercise of shuffling the representatives of the same political cliques. Whether those in power have the foresight and political courage to overhaul the system they have personally benefited from is a long shot – but it is necessary.

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Indika
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NINE WINLESS GAMES

Arsenal 2-2 Crystal Palace (Oct 27, PL)

Liverpool 5-5 Arsenal  (Oct 30, EFL)

Arsenal 1-1 Wolves (Nov 02, PL)

Vitoria Guimaraes 1-1 Arsenal  (Nov 6, Europa)

Leicester 2-0 Arsenal (Nov 9, PL)

Arsenal 2-2 Southampton (Nov 23, PL)

Arsenal 1-2 Eintracht Frankfurt (Nov 28, Europa)

Norwich 2-2 Arsenal (Dec 01, PL)

Arsenal 1-2 Brighton (Dec 05, PL)

The specs: 2019 GMC Yukon Denali

Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm​​​​​​​
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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.”

Brief scores:

Manchester City 2

Gundogan 27', De Bruyne 85'

Crystal Palace 3

Schlupp 33', Townsend 35', Milivojevic 51' (pen)

Man of the Match: Andros Townsend (Crystal Palace)

EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

On sale: now  

 
MATCH INFO

Karnatake Tuskers 114-1 (10 ovs)

Charles 57, Amla 47

Bangla Tigers 117-5 (8.5 ovs)

Fletcher 40, Moores 28 no, Lamichhane 2-9

Bangla Tiger win by five wickets

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Company name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs