Iraqi Sunni fighters burn tyres to close a road as the Iraqi security forces launch a military operation in Anbar province, western Iraq. Mohammed Jalil / EPA
Iraqi Sunni fighters burn tyres to close a road as the Iraqi security forces launch a military operation in Anbar province, western Iraq. Mohammed Jalil / EPA
Iraqi Sunni fighters burn tyres to close a road as the Iraqi security forces launch a military operation in Anbar province, western Iraq. Mohammed Jalil / EPA
Iraqi Sunni fighters burn tyres to close a road as the Iraqi security forces launch a military operation in Anbar province, western Iraq. Mohammed Jalil / EPA

Clashes between police and Sunnis in Iraqi protest camp kill 13


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RAMADI // Fighting broke out when Iraqi police moved to dismantle a Sunni Muslim protest camp in the western Anbar province on Monday, killing at least 13 people, police and medical sources said.
The camp has been an irritant to the prime minister, Nouri Al Maliki's Shiite-led government since Sunni protesters set it up a year ago to demonstrate against what they see as marginalisation of their sect. Forty-four politicians announced their resignations following the raid and demanded "the withdrawal of the army" along with the release of a Sunni legislator arrested on Saturday.
Mr Maliki, who is seeking a third term in April elections, has repeatedly vowed to remove the camp and accused protesters of stirring strife and sheltering Al Qaeda-linked militants.
Police sources said the clashes broke out when gunmen opened fire on police special forces trying to enter Ramadi, a western city 115 kilometres west of the capital, Baghdad, where the protest camp is located.
Gunshots and blasts were heard in parts of the city. The gunmen destroyed four police vehicles and killed at least three policemen in the north of Ramadi, one source said.
The bodies of 10 other people killed in the clashes were brought into Ramadi's morgue, hospital and morgue.
In Falluja, gunmen attacked army patrols deployed along the main motorway leading to Ramadi.
The defence ministry spokesman, Lieutenant-General Mohammed Al Askari, said the decision to remove the camp came after tribal leaders and local government and defence ministry officials reached a deal.
Ali Al Moussawi, a spokesman for Mr Maliki, said that the protesters in Ramadi "still have the right to protest" but "not by erecting tents and blocking roads."
Some police sources and local officials in Ramadi said tents were still standing in the camp although police and army forces had surrounded the area.
The United Nations called for restraint.
"I am concerned about the current developments in Anbar and call on all to remain calm and to abide by the agreements reached in the course of the last two days," said the UN envoy to Iraq, Nickolay Mladenov.
Tensions have been rising over the past few weeks in Anbar, a province that makes up a third of Iraq's territory and is populated mainly by Sunnis living along the Euphrates River.
The army launched a major operation in Anbar to flush out Al Qaeda militants after an attack killed at least 18 soldiers including an army commander on December 21.
On Saturday, Iraqi troops detained a Sunni lawmaker, Ahmed Al Alwani, who had been prominent among the organisers of the protests. He was sought on terrorism charges for inciting violence against Shiites.
When arresting officers arrived on Saturday at Mr Al Alwani's home to arrest him, his entourage resisted and his brother and five of his guards were killed in a shoot-out with the officers. Two troops were also killed.
The incident prompted Sheikh Abdul Malik Al Saadi, an influential Sunni cleric who had previously called on protesters to remain peaceful, to urge Sunni protesters to prepare to "defend themselves."
Many Sunnis resent Shiite domination of Iraq's politics since the US-led invasion that toppled Saddam Hussein in 2003 and empowered the majority Shiites through the ballot box.
The invasion was followed by an insurgency that brought Iraq to the brink of civil war.
Violence has spiked again this year as Al Qaeda-linked militants target the government and anyone seen to be supporting it, raising fears of a return to the sectarian conflict of 2006-7 that killed tens of thousands.
Also Monday, a bomb went off at an outdoor market in the eastern Baghdad suburb of Hussainiyah, killing three people and wounding eight, a police officer said. Another bomb targeted a patrol of an anti-Al Qaida Sunni militia in the city's southeastern suburb of Nahrawan, killing one person and wounding three, another officer said.
Police also found the bodies of three men who were kidnapped from a house in a village outside the northern city of Mosul on Sunday.
Medical officials confirmed the casualty figures. All officials spoke on condition of anonymity as they were not authorised to release the information.
Over 8,000 people have been killed this year, according to the UN.
* Reuters and the Associated Press

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.”

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

UAE currency: the story behind the money in your pockets

THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

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The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

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