Brigadier General Esmail Ghaani, head of Iran’s elite Quds Force, gives a speech during a ceremony in Tehran January 1, 2021 as part of commemorations of the killing of his predecessor, Qassem Suleimani in a US attack one year ago. West Asia News Agency via Reuters
An Iranian woman holds a picture of Qassem Suleimani during the commemoration ceremony in Tehran, Iran January 1, 2021. West Asia News Agency via Reuters
Mourners react during the commemoration Qassem Suleimani's assassination. West Asia News Agency via Reuters
A photo of Qassem Suleimani is placed on a chairs during the commemoration of his assassination. West Asia News Agency via Reuters
An image grab taken from a broadcast by Islamic Republic of Iran Broadcasting on October 1, 2019 shows Qassem Suleimani speaking during an interview with members of the Iranian supreme leader's bureau in Tehran. IRIB TV / AFP
Ebrahim Raisi, head of Iran's judiciary, gives a speech during the ceremony at Tehran University to mark the one year anniversary of the killing of Qassem Suleimani. West Asia News Agency via Reuters
Guests attend the commemoration ceremony for Qassem Suleimani in Tehran on January 1, 2021. AFP
Qassem Suleimani's daughter, Zeinab, attends the commemoration ceremony. West Asia News Agency via Reuters
Iranian judiciary chief Ebrahim Raisi speaks during the ceremony. AFP
Iran warns of severe revenge as it marks Qassem Suleimani assassination
Top officials attend event in Tehran ahead of first anniversary of US drone strike on January 3
Iran stepped up warnings of retaliation against the United States on Friday as it held a commemoration for Quds Force commander Qassem Suleimani in the run-up to the first anniversary of his death in a US drone strike.
"They will witness a severe revenge. What has come so far has only been glimpses" of it, judiciary chief Ebrahim Raisi told a gathering at Tehran University.
Suleimani, who led the Islamic Revolutionary Guard Corps' elite Quds Force overseeing Iran's proxy militias in the region, was killed when missiles launched by US drones struck his convoy as it left Baghdad airport on January 3 last year. Top Iraqi militia leader Abu Mahdi Al Muhandis was also killed in the strike ordered by US President Donald Trump.
"Do not presume that someone, as the president of America, who appeared as a murderer or ordered a murder, may be immune from justice being carried out. Never," Mr Raisi said.
"Those who had a role in this assassination and crime will not be safe on Earth."
The televised event at Tehran University was attended by Iranian officials including Revolutionary Guard chief Hossein Salami and speakers included representatives from allied regional countries and forces, namely Syria, Iraq, Lebanon and Yemen.
A separate event is expected to be held in the coming days in Kerman, Suleimani's hometown, where he is buried.
Top Iranian authorities, including supreme leader Ayatollah Ali Khamenei, said that all those involved in Suleimani's killing would face retribution.
Days after the assassination, Iran launched a volley of missiles at Iraqi bases where US and other coalition troops were stationed in what its leaders called a slap, promising that "severe revenge" would follow.
Suleimani's successor, Esmail Qaani, said at Friday's event that it could come from anywhere.
"From inside your own house, there may emerge someone who will retaliate for your crime,” he said.
“American mischief will not deter the Quds Force from carrying on its resistance path.”
Tensions between Washington and Tehran have soared since 2018, when Mr Trump unilaterally withdrew the US from the Iran nuclear deal and reimposed sanctions.
The two sides twice came to the brink of war after June 2019, and especially after the killing of Suleimani.
Two American B-52 bombers flew over the Middle East on Wednesday for the second time in recent weeks, in what US officials said was a message of deterrence to Iran ahead of the first anniversary.
On Thursday, Iran's Foreign Minister Javad Zarif accused Mr Trump of attempting to fabricate a pretext to attack Iran, and said Tehran would defend itself forcefully.
Separately, a military adviser to Iran's supreme leader tweeted a warning to Mr Trump.
"I saw on the news that the Americans are on alert for fear of the revenge and have flown two B-52 bombers over the Persian Gulf," Hossein Dehghan, a former defence minister, said on Twitter.
"All their military bases in the region are covered by our missiles. I advise the White House evictee [Trump] not to turn the New Year into mourning for Americans," he said.
Bharat
Director: Ali Abbas Zafar
Starring: Salman Khan, Katrina Kaif, Sunil Grover
Rating: 2.5 out of 5 stars
Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
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.”
Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh
Based: Vienna, Austria; started in Dubai
Sector: Health Tech
Staff: 119
Funding: €7.7 million (Dh31m)
Golden Shoe top five (as of March 1):
Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
How much do leading UAE’s UK curriculum schools charge for Year 6?
Nord Anglia International School (Dubai) – Dh85,032
Kings School Al Barsha (Dubai) – Dh71,905
Brighton College Abu Dhabi - Dh68,560
Jumeirah English Speaking School (Dubai) – Dh59,728
Gems Wellington International School – Dubai Branch – Dh58,488
The British School Al Khubairat (Abu Dhabi) - Dh54,170
Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.
6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.
7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.
7.30pm: Maiden (TB) Dh80,000 1,600m
Winner: Dubai Canal, Harry Bentley, Satish Seemar.
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.
