Supporters of Shiite cleric Moqtada Al Sadr who gained popularity as a nationalist voice campaigning against corruption. Hadi Mizban / AP
Supporters of Shiite cleric Moqtada Al Sadr who gained popularity as a nationalist voice campaigning against corruption. Hadi Mizban / AP

Corruption is the single biggest hindrance to progress



Following the fall of Saddam Hussain in 2003, billions of dollars in contracts and aid streamed into the fragile Iraqi state. As the country shed its socialist-style economy and embraced capitalism, a coterie of politicians and officials syphoned off revenue from Iraq’s oil bounty. State bodies designed to combat corruption were themselves engulfed by it.

And today, 15 years on, many Iraqis still lack access to basic essential services. A month-long wave of protests is yet to abate in the country, which ranks 169 out of 180 countries on Transparency International's corruption index – where mismanagement is endemic and incompetence the norm.

Given its recent history of invasion and ISIS militancy, Iraq is distinctive. And yet the problems that have gripped the nation since the US-led invasion are replicated throughout the Middle East.

In many of the region’s countries today, corruption is the single greatest hindrance to progress. When institutions are themselves compromised, there is no easy fix. In Iraq and elsewhere, corruption might take a generation to resolve, but there now appears to be an effort to crack down.

The citizens of nearby Lebanon have been inflicted with daily power outages since the country’s civil war ended in 1990. Endemic corruption in the bestowing of contracts and the lack of investment in infrastructure are chiefly to blame. And with utility provision already hopelessly inadequate, Lebanon has absorbed more than one million Syrians since the civil war began there in 2011.

Lebanon’s self-serving political elite might suggest that the refugee influx is exculpatory. They are wrong.

In neighbouring Jordan, which is facing a Dh2.7 billion fiscal deficit and a high debt-to-GDP ratio, public fury at years of corruption and mismanagement spilled into the streets in June. Jordan will now rely on loans from the International Monetary Fund, which are dependent on austerity measures that will hit the country's middle class the hardest.

To outsiders, particularly those in the West where institutions are habitually sturdy, the solutions might seem obvious. Such an assessment overlooks the calcification of the patronage systems at play.

But with public anger rising, things might be about to change – albeit slowly. Cleric Moqtada Al Sadr's nationalist coalition triumphed in recent elections in Iraq after running on an anti-corruption platform. And on Tuesday, Prime Minister Haider Al Abadi announced the Integrity Commission is investigating more than 5,000 cases of corruption.

In Jordan, new prime minister Omar Al Razzaz has put corruption front and centre in a bid to regain public trust. Meanwhile Lebanon's caretaker government is taking action against unscrupulous generator dealers who charge extortionate fees.

In these three nations much work still needs to be done. And yet the economic and political benefits of tackling corruption are painfully clear, both within countries and for the region at large.

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Multitasking pays off for money goals

Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.

That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.

"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.

Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."

People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.

"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
if you go

The flights 

Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning. 

The trains

Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.

The hotels

Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.

Sun jukebox

Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)

This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.

Elvis Presley, Mystery Train (1955)

The B-side of Presley’s final single for Sun bops with a drummer-less groove.

Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)

Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.

Carl Perkins, Blue Suede Shoes (1956)

Within a month of Sun’s February release Elvis had his version out on RCA.

Roy Orbison, Ooby Dooby (1956)

An essential piece of irreverent juvenilia from Orbison.

Jerry Lee Lewis, Great Balls of Fire (1957)

Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills