Ferrari's British driver Lewis Hamilton, left, alongside Williams' Spanish driver Carlos Sainz. AFP
Ferrari's British driver Lewis Hamilton, left, alongside Williams' Spanish driver Carlos Sainz. AFP
Ferrari's British driver Lewis Hamilton, left, alongside Williams' Spanish driver Carlos Sainz. AFP
Ferrari's British driver Lewis Hamilton, left, alongside Williams' Spanish driver Carlos Sainz. AFP

F1 Chinese Grand Prix: Lewis Hamilton suffers and mighty McLaren dominate in Shanghai


Mina Rzouki
  • English
  • Arabic

McLaren driver Oscar Piastri cruised to his maiden Chinese Grand Prix win from pole position with the Australian untouchable ahead of his teammate Lando Norris on Sunday.

Piastri, who took his maiden pole position on Saturday, led home a McLaren one-two – the team's 50th in F1 – in an early show of strength from last year's constructors' title winners.

Not everyone had such a good time in Shanghai, particularly Lewis Hamilton and Ferrari. Here are five things we learnt from an eventful weekend in China.

The highs and lows of Hamilton

Hamilton, the seven-time world champion, claimed a surprising first ever victory in a Sprint race on Saturday after leading from start to finish. Managing his tyres well, it was a spectacular drive from the Englishman, who was thrilled to have silenced his critics as he demonstrated just how quickly he has adapted to his new car.

“Winning in a Ferrari is next level,” exclaimed a jubilant Hamilton. However, the dream soon turned into a nightmare on Sunday as he struggled to unlock the pace of the car and Ferrari elected to go with a two-stop strategy during the Grand Prix. Originally finishing in sixth place, he and his teammate Charles Leclerc both discovered they had been disqualified hours later.

The rear skid block on his Ferrari was found to be below the minimum 9mm thickness required by FIA regulations while Leclerc was disqualified as the SF-25 was found to be 1kg below the minimum weight required. It’s a shame as Leclerc drove impressively despite a damaged front wing.

A horrendous day for Ferrari who hoped to be challenging for Constructors’ honours. They released a statement noting their errors: “We will learn from what happened today and make sure we don’t make the same mistakes again. Clearly, it’s not the way we wanted to end our Chinese GP weekend.”

Will anyone succeed as No 2 at Red Bull?

When boasting one of the finest drivers to ever race in Formula One, it makes sense that Red Bull prioritise creating a car that suits Max Verstappen’s needs. The only downside is that it seems only he can extract potential from it.

Finishing dead last in qualifiers for both the Sprint and the Grand Prix, Liam Lawson had another torrid weekend at the Shanghai circuit, failing to live up to expectations, like many before him. In fact, it’s fair to say he is doing much worse, as no driver has managed such a poor start to life as a Red Bull driver.

The team opted to make pre-race set-up changes on his car in 'parc ferme' in hopes of gathering more data. This meant the driver started his second GP from the pits.

“We made the decision to take him off the grid to try some radical changes on the set-up because we are so limited in testing these cars,” Horner told Sky Sports. Parc ferme, which translates to 'closed park' in French, refers to a specific period during a race weekend when cars are no longer allowed to be altered beyond certain limits.

“It made sense to say ‘OK, we are starting at the back, let’s try to learn something’,” added Horner.

Lawson finished the race 15th and was only promoted to 12th after the disqualification of the two Ferrari drivers and Alpine’s Pierre Gasly.

Mental fortitude was reported as the reason Red Bull opted to choose Lawson ahead of the likes of Yuki Tsunoda. However, a disastrous start means the pressure is piling with rumours suggesting Red Bull are already looking to make a change.

Horner admitted to feeling sorry for Lawson and that the team had a duty to take care of their young driver while Verstappen himself acknowledged to Dutch Media that the RB21 is a difficult car to drive, saying: “I think if you put Liam in the Racing Bulls' car, he will go faster. I really think so.”

Lawson understands that he must adapt quickly to the car and the driver refused to use his lack of prior racing experience on the circuits in Melbourne and Shanghai as an excuse for his poor performances.

Mighty McLaren

McLaren registered their 50th one-two finish, as a week after Norris secured the win in Australia, it was Piastri who took the flag, claiming his third ever GP win.

Tyre management was the order of the day and by finishing in pole position in qualifying, Piastri went on to dominate the race to secure his first win of the new season, while teammate Norris claimed second despite brake issues that worsened in the closing laps.

McLaren struggled with tyre graining in the Sprint and team principal Andrea Stella admitted they took the wrong approach. However, as Piastri noted post-race, the tyres behaved differently on Sunday. He and his teammate were allowed to set the pace and were not caught up in the dirty air, allowing them to command the race from start to finish.

  • McLaren driver Oscar Piastri of Australia celebrates on the podium after winning the Chinese Formula One Grand Prix. AP
    McLaren driver Oscar Piastri of Australia celebrates on the podium after winning the Chinese Formula One Grand Prix. AP
  • McLaren driver Oscar Piastri of Australia celebrates on the podium. AP
    McLaren driver Oscar Piastri of Australia celebrates on the podium. AP
  • McLaren driver Oscar Piastri of Australia steers his car. AP
    McLaren driver Oscar Piastri of Australia steers his car. AP
  • McLaren driver Oscar Piastri of Australia. AP
    McLaren driver Oscar Piastri of Australia. AP
  • Mercedes' George Russell celebrates on the podium. Reuters
    Mercedes' George Russell celebrates on the podium. Reuters
  • McLaren driver Oscar Piastri, centre, celebrates on the podium with McLaren driver Lando Norris, left, and Mercedes driver George Russell. AP
    McLaren driver Oscar Piastri, centre, celebrates on the podium with McLaren driver Lando Norris, left, and Mercedes driver George Russell. AP
  • Ferrari's Lewis Hamilton is interviewed after finishing sixth. Reuters
    Ferrari's Lewis Hamilton is interviewed after finishing sixth. Reuters
  • Lewis Hamilton of Great Britain makes a pitstop. Getty Images
    Lewis Hamilton of Great Britain makes a pitstop. Getty Images
  • Red Bull driver Max Verstappen of Netherlands in action. EPA
    Red Bull driver Max Verstappen of Netherlands in action. EPA
  • Max Verstappen in action. Getty Images
    Max Verstappen in action. Getty Images

Whether it be a dry track like in China or in treacherous conditions as the drivers faced in Australia, the MCL39 looks to be the car to beat, and it will be a battle between Norris and Piastri as to who will come out on top.

Norris said: “We were free to race. We're both excited – probably nervous and excited at the same time – as I'm sure the team will be. But we're ready.”

Rookies rise to the challenge

Isack Hadjar was in tears when he crashed out of the Australian GP in the formation lap and was determined to make a quick recovery in China. He managed just that, at least in qualifying. The French-Algerian Hadjar claimed P7 on the grid and beat his teammate Tsunoda by 0.559s.

Unfortunately, Hadjar was let down by Racing Bulls’ decision to insist on a two-stop strategy despite the tyre degradation not being as bad as initially thought.

Happy with his drive, Hadjar spoke after the race: “What happened today was out of my control, but I can't help thinking what it would have been like with a one-stop strategy race. We’ll review everything with the team before going back racing in Japan.”

As for Kimi Antonelli, he won 'Driver of the Day' as voted for by the fans. Qualifying eighth and finishing in eighth (later promoted to 6th after Ferrari’s disqualifications), he coped admirably despite suffering ‘extensive’ car damage early in the race, according to Mercedes team principal Toto Wolff.

“Considering that he had a car that was severely impaired, finishing eighth, holding on to it, and not complaining, just getting on with the job shows the potential and the maturity the young man has,” said Wolff.

Haas redeem themselves

Esteban Ocon finished seventh in Shanghai, while Oliver Bearman capitalised on the alternate tyre strategy to secure seventh and 10th place on the grid, later updated to fifth and eighth due to disqualifications. With both cars registering points, Haas had a good weekend in China, making up for a hideous performance in Australia.

There were fears last week after the Australian GP, in which both Ocon and Bearman finished at the back of the grid, that the team had regressed and was quite possibly the slowest on the track.

Speaking after the race, Ocon said: “Things were obviously looking difficult just a week ago in Melbourne, but we haven’t slept much since then and it’s all been worth it as we’ve discussed everything and where to unlock the performance from the car. We knew there was more performance to be had, obviously we’re keen to improve some more, but the signs for now are good.”

Noting there is still an aerodynamic flaw in the VF-25, Haas team principal Ayao Komatsu said he was elated with the reaction and proud of how hard the team worked to adapt to the Shanghai circuit and extract as much as they could from the car. The aerodynamic issue is yet to be resolved, so it remains to be seen how the car performs for the remainder of the season.

Abdul Jabar Qahraman was meeting supporters in his campaign office in the southern Afghan province of Helmand when a bomb hidden under a sofa exploded on Wednesday.

The blast in the provincial capital Lashkar Gah killed the Afghan election candidate and at least another three people, Interior Minister Wais Ahmad Barmak told reporters. Another three were wounded, while three suspects were detained, he said.

The Taliban – which controls much of Helmand and has vowed to disrupt the October 20 parliamentary elections – claimed responsibility for the attack.

Mr Qahraman was at least the 10th candidate killed so far during the campaign season, and the second from Lashkar Gah this month. Another candidate, Saleh Mohammad Asikzai, was among eight people killed in a suicide attack last week. Most of the slain candidates were murdered in targeted assassinations, including Avtar Singh Khalsa, the first Afghan Sikh to run for the lower house of the parliament.

The same week the Taliban warned candidates to withdraw from the elections. On Wednesday the group issued fresh warnings, calling on educational workers to stop schools from being used as polling centres.

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Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

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.”

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Switch%20Foods%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Edward%20Hamod%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Plant-based%20meat%20production%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2034%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%246.5%20million%3Cbr%3E%3Cstrong%3EFunding%20round%3A%3C%2Fstrong%3E%20Seed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Based%20in%20US%20and%20across%20Middle%20East%3C%2Fp%3E%0A

Monster Hunter: World

Capcom

PlayStation 4, Xbox One

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

In The Heights

Directed by: Jon M. Chu

Stars: Anthony Ramos, Lin-Manual Miranda

Rating: ****

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.3-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E299hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E420Nm%20at%202%2C750rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E12.4L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh157%2C395%20(XLS)%3B%20Dh199%2C395%20(Limited)%3C%2Fp%3E%0A
Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

THE SPECS

Cadillac XT6 2020 Premium Luxury

Engine:  3.6L V-6

Transmission: nine-speed automatic

Power: 310hp

Torque: 367Nm

Price: Dh280,000

White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

The%20end%20of%20Summer
%3Cp%3EAuthor%3A%20Salha%20Al%20Busaidy%3C%2Fp%3E%0A%3Cp%3EPages%3A%20316%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20The%20Dreamwork%20Collective%C2%A0%3C%2Fp%3E%0A

Empire of Enchantment: The Story of Indian Magic

John Zubrzycki, Hurst Publishers

MATCH INFO

Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
 
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Namibia beat Oman by 52 runs
UAE beat Namibia by eight wickets
UAE v Oman - abandoned
Oman v Namibia - abandoned

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cylinder%20turbo%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E680hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C020Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EEarly%202024%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh530%2C000%20(estimate)%3C%2Fp%3E%0A
F1 line ups in 2018

Mercedes-GP Lewis Hamilton and Valtteri Bottas; Ferrari Sebastian Vettel and Kimi Raikkonen; Red Bull Daniel Ricciardo and Max Verstappen; Force India Esteban Ocon and Sergio Perez; Renault Nico Hülkenberg and Carlos Sainz Jr; Williams Lance Stroll and Felipe Massa / Robert Kubica / Paul di Resta; McLaren Fernando Alonso and Stoffel Vandoorne; Toro Rosso TBA; Haas F1 Romain Grosjean and Kevin Magnussen; Sauber TBA

Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

Profile of Tarabut Gateway

Founder: Abdulla Almoayed

Based: UAE

Founded: 2017

Number of employees: 35

Sector: FinTech

Raised: $13 million

Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.

Who is Mohammed Al Halbousi?

The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.

The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.

He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.

He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.

He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.

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Updated: March 24, 2025, 12:30 PM