Iraqis load a truck with their possessions at the Khazer camp for internally displaced people before returning home to Mosul on December 26, 2016. Cengiz Yar/AP Photo
Iraqis load a truck with their possessions at the Khazer camp for internally displaced people before returning home to Mosul on December 26, 2016. Cengiz Yar/AP Photo
Iraqis load a truck with their possessions at the Khazer camp for internally displaced people before returning home to Mosul on December 26, 2016. Cengiz Yar/AP Photo
Iraqis load a truck with their possessions at the Khazer camp for internally displaced people before returning home to Mosul on December 26, 2016. Cengiz Yar/AP Photo

ISIL’s defeat in Iraq ‘will take another three months’


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BAGHDAD // The defeat of ISIL in Iraq will take another three months, prime minister Haider Al Abadi said on Tuesday, as Iraqi forces struggle to dislodge the extremists from their Mosul stronghold.

The drawn-out battle speaks of the limitations of the government forces, the staunch defence put up by the militants and the high risk involved in taking back a city with some 1 million civilians still living inside it.

“Conditions indicate that Iraq needs three months to eliminate Daesh,” state TV quoted Mr Al Abadi as saying.

After optimistic forecasts of Mosul being back in government hands before the end of the year, almost everyone in Iraq now agrees that early 2017 is a more realistic timeline.

Two months into the campaign, most of the fighting has been concentrated in eastern Mosul, east of the Tigris River, where Iraq’s special forces are battling ISIL fighters street by street. Very little fighting is taking place north, south and south-east of the city, where army troops and the militarised federal police are deployed. The lack of progress there suggests the special forces, by far Iraq’s most battle-hardened outfit, will likely have to take those areas after securing eastern Mosul.

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The battle for the last Iraqi city still in ISIL hands has laid bare the country’s political and sectarian woes. A liberated Mosul will present a host of other problems that the Shiite-led government in Baghdad, armed with considerable political capital gained from defeating ISIL, must address quickly.

Since it began on October 17, the campaign has been accompanied by an outreach programme towards the mostly Sunni residents of Mosul. The propaganda machines of the government and the military have tirelessly emphasised concern for the safety of civilians still living inside Mosul. State television has peppered its coverage of the battle with scenes of compassion shown by troops towards the city’s residents, sharing their rations with them or organising food and water distribution.

In Baghdad, Mr Al Abadi has spoken at length of national reconciliation and how the fight against ISIL has brought the country’s main groups – Shiites, Sunnis and Kurds – together for the first time in years. He highlighted the Sunni militiamen and Kurdish Peshmerga forces fighting alongside government troops in Mosul as an example of this newfound unity.

In a concession to the Sunnis, the government barred the powerful Shiite militias from taking part in the battle for Mosul, fearing their participation could anger Mosul’s mainly Muslim residents and evoke memories of their abuse of Sunni civilians elsewhere in Iraq.

But on the battlefield, the initial successes soon turned into something of a stalemate, with the advance of the special forces towards the Tigris halted for close to two weeks and the army’s 9th Armoured Division in the south still on the edge of the city after an ill-fated foray earlier this month proved costly.

While the special forces are made up of seasoned city fighters, there are not enough of them. The 9th Division, meanwhile, is not equipped to fight on the streets and, like most other army outfits, does not seem to have fully recovered from the meltdown the military and security forces suffered when ISIL blitzed across northern and western Iraq in the summer of 2014.

Iraqi forces have struggled against the defences prepared by ISIL’s fighters, whose resilience appears to strengthen as the battle moves deeper inside the city. The militants have employed a wide range of tactics, including suicide bombings, constant sniping and ambushes. The tactics were to be expected given that the extremists had ample time to prepare – the intention to liberate Mosul was announced by the government in March.

Many believe it is a matter of time before Mosul is fully retaken, but even that poses a new set of challenges for a government long accused of corruption and sectarian policies and with an economy reeling from low oil prices and the costs of war.

The liberation of Mosul would leave the militants with several small outposts in the north and west of Iraq that could be retaken with relative ease, but the group would morph into an urban terror group with sleeper cells and the ability to strike across much of Iraq. It may not again enjoy the sympathy or support of Iraq’s Sunni Arabs as it did two years ago, but that would depend in large part on whether the Baghdad government would take steps to address some of the Sunni grievances, like reining in Shiite radicals, showing goodwill to the Sunnis and adopting even-handed policies toward the once-powerful minority.

It may be a tall order, since the government and its Shiite-dominated military and security forces as well as the state-sanctioned Shiite militias would be filled with the sort of triumphalism after the defeat of ISIL that they would not feel the need to redress injustices inflicted upon the Sunnis.

The signs are not encouraging.

Parliament last month passed legislation that accorded the mostly Shiite militias full legal status, declaring them part of the armed forces, complete with the salary scale and a range of perks. The move was immediately decried by Sunnis and, in response, the government said the legislation was the least it could do to reward the militias for their sacrifices in the fight against ISIL.

foreign.desk@thenational.ae

Federer's 11 Wimbledon finals

2003 Beat Mark Philippoussis

2004 Beat Andy Roddick

2005 Beat Andy Roddick

2006 Beat Rafael Nadal

2007 Beat Rafael Nadal

2008 Lost to Rafael Nadal

2009 Beat Andy Roddick

2012 Beat Andy Murray

2014 Lost to Novak Djokovic

2015 Lost to Novak Djokovic

2017 Beat Marin Cilic

Recent winners

2002 Giselle Khoury (Colombia)

2004 Nathalie Nasralla (France)

2005 Catherine Abboud (Oceania)

2007 Grace Bijjani  (Mexico)

2008 Carina El-Keddissi (Brazil)

2009 Sara Mansour (Brazil)

2010 Daniella Rahme (Australia)

2011 Maria Farah (Canada)

2012 Cynthia Moukarzel (Kuwait)

2013 Layla Yarak (Australia)              

2014 Lia Saad  (UAE)

2015 Cynthia Farah (Australia)

2016 Yosmely Massaad (Venezuela)

2017 Dima Safi (Ivory Coast)

2018 Rachel Younan (Australia)

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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.”

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The Ashes

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Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs

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Engine: 2.0-litre turbocharged in-line four-cylinder engine

Transmission: Nine-speed automatic

Power: 237hp @ 5,000rpm

Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 8.7L / 100km

Temple numbers

Expected completion: 2022

Height: 24 meters

Ground floor banquet hall: 370 square metres to accommodate about 750 people

Ground floor multipurpose hall: 92 square metres for up to 200 people

First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time

First floor terrace areas: 2,30 square metres  

Temple will be spread over 6,900 square metres

Structure includes two basements, ground and first floor 

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  • September 5 – Iraq v UAE, Amman, Jordan (venue TBC)

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Starring: Idris Elba, Caleb McLaughlin, Jharrel Jerome

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GOLF’S RAHMBO

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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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2. Novak Djokovic (SRB) 8,945 (-1)
3. Roger Federer (SUI) 6,190
4. Daniil Medvedev (RUS) 5,705
5. Dominic Thiem (AUT) 5,025
6. Stefanos Tsitsipas (GRE) 4,000 ( 1)
7. Alexander Zverev (GER) 2,945 (-1)
8. Matteo Berrettini (ITA) 2,670 ( 1)
9. Roberto Bautista (ESP) 2,540 ( 1)
10. Gaël Monfils (FRA) 2,530 ( 3)
11. David Goffin (BEL) 2,335 ( 3)
12. Fabio Fognini (ITA) 2,290
13. Kei Nishikori (JPN) 2,180 (-2)
14. Diego Schwartzman (ARG) 2,125 ( 1)
15. Denis Shapovalov (CAN) 2,050 ( 13)
16. Stan Wawrinka (SUI) 2,000
17. Karen Khachanov (RUS) 1,840 (-9)
18. Alex De Minaur (AUS) 1,775
19. John Isner (USA) 1,770 (-2)
20. Grigor Dimitrov (BUL) 1,747 ( 7)

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Three stars