Iran ready to strike Israel's nuclear sites



Iran issued a blunt warning to Israel on Saturday that it will launch missile strikes on Israel's nuclear facilities in the event that the Islamic republic is attacked by the Jewish state. The threat from the head of Iran's Revolutionary Guard came after a test of Israel's Arrow missile defence system on Wednesday was reported to have been a 'resounding failure'. Inside Iran's political establishment, President Mahmoud Ahmadinejad after being forced to yield to pressure from the Supreme Leader, Ayatollah Khamenei, who opposed his choice of Esfandiar Rahim Mashai as first vice president, has instead appointed the controversial candidate as his new adviser and head of the presidential office. "The head of Iran's elite Revolutionary Guard said Saturday that his country has the capability to strike Israel's nuclear facilities and wouldn't be afraid to do so if it was attacked," the Associated Press reported. " 'If the Israeli entity engages in any kind of attack on Iran, we have the capability to strike all targets in occupied Palestine,' Gen Mohammad Ali Jafari told the Arabic-language channel, al-Alam. " 'There is nothing stopping us from targeting Israel's nuclear sites and this will definitely happen if we are attacked. Our rockets have the precision capabilities to target all the Israeli nuclear sites,' he said, according to the channel's website." Yossi Melman, reporting for Haaretz said: "Despite attempts by the operators of the Arrow missile defence system in Israel to portray Wednesday night's aborted test as 'a partial success,' in reality it was nothing less than a resounding failure. The fact that the interceptor missile failed to launch in the direction of the target is damning proof that the test failed. "Overall, the goal of the test is not to assess various data systems that could be checked without launching the missile, but to launch the interceptor missile at the oncoming target. In this case, the target was a simulator missile of the Iranian Shihab, whose range exceeds 1,000 kilometres, more than enough to reach Israel. "The Defence Ministry's well-oiled public relations machine has for years propagated the notion that the Arrow system is the best in the world, and that it is capable of answering long-range missile threats against Israel. Yet, in practice, it turns out that the threats are growing more ominous, and, in this game of cat and mouse, a defence system has no chance to get up to speed with missiles whose range and efficacy are increasing at a fast pace." Iran's Fars News Agency reported: "Commenting on the missile test, Jafari said, 'In case of military action against the Islamic Republic of Iran, the entire territory of Israel will be within the range of our missiles and the IRGC has no restriction for producing ground-to-ground rockets with an appropriate range to target Israel.' " 'Our response to them will be a hard one,' the IRGC commander warned. "About Tel-Aviv's ability to intercept Iranian missiles, Jafari noted, 'Israel might be able to hit a number of our missiles but it can do nothing about a massive missile attack.'" Meanwhile, as the Islamic republic remains in the throes of political turmoil following June's disputed presidential elections, the latest rift to be exposed appears to be between the president and the supreme leader. Although President Ahmadinejad's choice for his first vice president has been blocked, Mr Ahmadinejad has nevertheless gone ahead and appointed his close confident to another position. "After a week-long furore amongst Iran's ruling elite over Ahmadinejad's vice president choice, the president appoints the deputy, who resigned, as an adviser and head of the Presidential Office," Press TV said. " 'I appoint you [Esfandiar Rahim Mashai], as a faithful and competent figure, as adviser and head of the Presidential Office,' Ahmadinejad said in a decree on Saturday. "According to the decree published on president's website, Ahmadinejad expressed hope Rahim-Mashai would be successful in serving the great Iranian nation and the Islamic establishment in cooperation with his colleagues." The Associated Press said that on Friday, hundreds of hard-line students took to the streets of Tehran calling for Mr Mashai's removal. Press TV reported earlier on Saturday: "The official dismissal of President Ahmadinejad's most senior vice president came after a handwritten note by Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei ordering the president to remove his vice president was made public on Friday. " 'The appointment of Mr. Esfandiar Rahim Mashai as presidential deputy is contrary to your interests and that of the government and a cause of division and frustration among your supporters. It is necessary for this appointment to be declared null and void,' read the note by the Leader. "Rahim-Mashai said late Friday that since the disclosure of the letter, he no longer considered himself as the first vice president, according to Ahmadinejad's senior adviser, Mojtaba Samareh-Hashemi." Press TV also said: "Ahmad Tavakkoli, a senior principlist lawmaker, criticised President Ahmadinejad for his refusal to obey the order and fire Rahim-Mashai even seven days after the Leader issued his command. "Tavakkoli says 'based on the law and the Sharia,' Ahmadinejad was obliged to obey the leader's order when he received the letter. "The note, which is dated July 18, was publicly revealed by IRNA on July 24. "The parliamentarian also called Ahmadinejad's conduct 'unacceptable' and 'political misconduct'. " 'Unfortunately the president still does not carry out the task after seven days and Mashai announced his resignation,' he said. "Rahim-Mashai, a close confidant of Ahmadinejad and a relative to him by marriage, had angered principlists last year by saying Iranians and Israelis were friends." Earlier, Mr Mashai sought to explain the remarks he had made as head of the Cultural Heritage, Handicrafts and Tourism Organisation, saying: "What I said had nothing to do with the Israeli regime. I did not talk about the usurper Zionist regime. My remarks were about the people of the occupied lands and were in fact a psychological warfare against the Israeli regime." The Los Angeles Times said: "Questions surround the Mashai controversy. "Some analysts have said hard-liners oppose him because of friendly comments he made last year about Israel. Others say he is a member of a secretive sect, the Hojjatieh, which has a messianic worldview so extreme that the Islamic Republic's founder, Ayatollah Ruhollah Khomeini, had outlawed it. A video posted online shows Mashai making a speech in line with Hojjatieh philosophy. "According to Islamic Republic News Agency reports, Ahmadinejad has described Mashai as a 'pious man who is a devotee of Imam Mahdi,' a Shiite saint whose return is awaited by believers. "Several weeks before the June 12 presidential election, Rezai said Ahmadinejad was 'surrounded by dangerous individuals' pushing the country toward a precipice. Many considered that to be a jab at the messianic bent of some in his inner circle. "Others describe Mashai, born in 1960 in the Caspian Sea town of Ramsar, as an opportunist who has parlayed his longtime friendship with Ahmadinejad, an in-law, into a position of power. "Several sources say the two men met in the 1980s while serving in the Revolutionary Guard. Mashai cultivated strong ties to the intelligence and propaganda divisions of the Revolutionary Guard, as well as the Ministry of Intelligence and Security, where he served in the 1990s. In 2004, Ahmadinejad named him to a position within the Tehran municipality. "Publicly, conservatives say they despise Mashai for his comments about Israel. He was quoted by the semiofficial Fars news agency as saying in a July interview last year that, despite the conflict between the governments, 'Iran is friends with the American and Israeli people. No nation in the world is our enemy.' "He has since strenuously disavowed the comments. "On Friday, a news website quoted Tehran Mayor Mohammed Baqer Qalibaf as accusing Mashai and his wife of supporting the Mujahedin Khalq, an outlawed Iranian exile group that seeks to overthrow the government and that the United States considers a terrorist group. "Qalibaf said Mashai's wife is a former member of the group and the two met in prison, where he was her interrogator. A source close to the Mashai family confirmed that, saying that she had been sentenced to hang when he proposed to marry her to save her from the gallows."

pwoodward@thenational.ae

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The biog

Favourite films: Casablanca and Lawrence of Arabia

Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins

Favourite dish: Grilled fish

Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
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  • Store funds in hardware wallets as opposed to online exchanges.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding

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.”

Wonka
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Paul%20King%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3ETimothee%20Chalamet%2C%20Olivia%20Colman%2C%20Hugh%20Grant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

RESULTS
%3Cp%3E5pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(Turf)%202%2C200m%3Cbr%3EWinner%3A%20RB%20Sarab%2C%20Allaia%20Tiar%20(jockey)%2C%20Khalifa%20Al%20Neyadi%20(trainer)%3C%2Fp%3E%0A%3Cp%3E5.30pm%3A%20Mamsha%20Alkhair%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%3Cbr%3EWinner%3A%20Mutaqadim%2C%20Ray%20Dawson%2C%20Ibrahim%20Al%20Hadhrami%3C%2Fp%3E%0A%3Cp%3E6pm%3A%20Emirates%20Fillies%20Classic%20%E2%80%93%20Prestige%20(PA)%20Dh100%2C000%20(T)%201%2C600m%3Cbr%3EWinner%3A%20Almotajalliah%2C%20Ray%20Dawson%2C%20Ibrahim%20Al%20Hadhrami%3C%2Fp%3E%0A%3Cp%3E6.30pm%3A%20Emirates%20Colts%20Classic%20%E2%80%93%20Prestige%20(PA)%20Dh100%2C000%20(T)%201%2C600m%3Cbr%3EWinner%3A%20Fadwaan%2C%20Antonio%20Fresu%2C%20Ahmed%20Al%20Mehairbi%3C%2Fp%3E%0A%3Cp%3E7pm%3A%20The%20President%E2%80%99s%20Cup%20%E2%80%93%20Group%201%20(PA)%20Dh2%2C500%2C000%20(T)%202%2C200m%3Cbr%3EWinner%3A%20Mujeeb%2C%20Richard%20Mullen%2C%20Salem%20Al%20Ketbi%3C%2Fp%3E%0A%3Cp%3E7.30pm%3A%20The%20President%E2%80%99s%20Cup%20%E2%80%93%20Listed%20(TB)%20Dh380%2C000%20(T)%201%2C400m%3Cbr%3EWinner%3A%20Western%20Writer%2C%20Richard%20Mullen%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A
Tips%20for%20holiday%20homeowners
%3Cp%3EThere%20are%20several%20factors%20for%20landlords%20to%20consider%20when%20preparing%20to%20establish%20a%20holiday%20home%3A%3C%2Fp%3E%0A%3Cul%3E%0A%3Cli%3E%3Cstrong%3ERevenue%20potential%20of%20the%20unit%3A%3C%2Fstrong%3E%20location%2C%20view%20and%20size%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EDesign%3A%20furnished%20or%20unfurnished.%3C%2Fstrong%3E%20Is%20the%20design%20up%20to%20standard%2C%20while%20being%20catchy%20at%20the%20same%20time%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EBusiness%20model%3A%3C%2Fstrong%3E%20will%20it%20be%20managed%20by%20a%20professional%20operator%20or%20directly%20by%20the%20owner%2C%20how%20often%20does%20the%20owner%20wants%20to%20use%20it%20for%20personal%20reasons%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EQuality%20of%20the%20operator%3A%3C%2Fstrong%3E%20guest%20reviews%2C%20customer%20experience%20management%2C%20application%20of%20technology%2C%20average%20utilisation%2C%20scope%20of%20services%20rendered%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Adam%20Nowak%2C%20managing%20director%20of%20Ultimate%20Stay%20Vacation%20Homes%20Rental%3C%2Fem%3E%3C%2Fp%3E%0A
What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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.
How to volunteer

The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.

COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.