Washington blames Iran-backed militias for firing rockets at its Baghdad embassy on a near-weekly basis for months, and for shelling Iraqi bases housing international troops. AP
Washington blames Iran-backed militias for firing rockets at its Baghdad embassy on a near-weekly basis for months, and for shelling Iraqi bases housing international troops. AP
Washington blames Iran-backed militias for firing rockets at its Baghdad embassy on a near-weekly basis for months, and for shelling Iraqi bases housing international troops. AP
Washington blames Iran-backed militias for firing rockets at its Baghdad embassy on a near-weekly basis for months, and for shelling Iraqi bases housing international troops. AP

Iraq arrests perpetrators of Erbil airport attacks


Mina Aldroubi
  • English
  • Arabic

Iraqi authorities on Thursday arrested suspects of an attack near a US military base close to the northern city of Erbil.

The attack on Wednesday caused no casualties among American troops.

At least four rockets were launched late on Wednesday by militants of the pro-Iranian Hashed Al Shaabi group at the Erbil international airport, but failed to reach their target. The US base is at the airport.

“The perpetrators of the attack on Erbil Airport were arrested yesterday," Iraq’s Joint Operations Command said.

"We will reveal their identities after the investigation is completed. We are ready to use force against anyone who targets diplomatic missions.”

The command said Iraqi and Kurdish security forces were co-ordinating closely.

Officials in the Kurdistan Regional Government said the attack was to undermine the federal government’s authority.

"It is an attempt to silence some outlawed groups as well as damaging the stability and security of the Kurdistan Region," Hiwa Afandi, the head of the KRG's Department of Information Technology, told The National.

The attacks aimed to tell the coalition "that they can be a threat, even in Erbil", Mr Afandi said.

The KRG’s anti-terrorism department said the rockets were launched from Sheikh Amir village in Nineveh province and that two of the six did not explode.

Videos on social media showed large fires in the area but no casualties.

"This area is controlled by Hashed Al Shaabi's 30th Brigade," the government said.

"Our special teams are seriously investigating to obtain more information."

US coalition spokesman Wayne Marotto tweeted that the base and American troops were not harmed.

The KRG is "responsible for providing security to the northern region as it hosts thousands of individuals from Iran, Turkey and Syria who seek safety", a government official told The National. 

“We view it as an attack on our interests and it will not go unanswered," the official said.

"We will not allow the region to become a proxy war and conflict."

The Kurdish official said the attacks were similar to those on Baghdad’s heavily fortified Green Zone.

“This means that it’s very likely the same group, or one sponsored by the same source, conducted the attack,” he said.

It comes amid heightened tension between Tehran and Washington in Iraq.

The administration of US President Donald Trump has told the Iraqi government that it is prepared to close its embassy in Iraq unless urgent action is taken to halt attacks on the mission and American soldiers.

US Secretary of State Mike Pompeo threatened to close the embassy during a call a week ago to Iraqi President Barham Salih.

The sources said reports that diplomats may relocate to the relative safety of Erbil in Iraq’s Kurdish autonomous region were untrue and a closure would mean embassy staff leaving Iraq.

The reports seem even less likely after the attack on Erbil.

Washington blames Iran-backed militias for firing rockets at its embassy on a near-weekly basis for months, and for shelling Iraqi bases housing international troops, including many of the 5,000 US soldiers.

A rocket landed near Baghdad airport on Monday night killing three civilians and wounding two, Iraqi security officials said.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHayvn%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EChristopher%20Flinos%2C%20Ahmed%20Ismail%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EAbu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Efinancial%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3Eundisclosed%3Cbr%3E%3Cstrong%3ESize%3A%3C%2Fstrong%3E%2044%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eseries%20B%20in%20the%20second%20half%20of%202023%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EHilbert%20Capital%2C%20Red%20Acre%20Ventures%3C%2Fp%3E%0A
The UAE squad for the Asian Indoor and Martial Arts Games

The jiu-jitsu men’s team: Faisal Al Ketbi, Zayed Al Kaabi, Yahia Al Hammadi, Taleb Al Kirbi, Obaid Al Nuaimi, Omar Al Fadhli, Zayed Al Mansoori, Saeed Al Mazroui, Ibrahim Al Hosani, Mohammed Al Qubaisi, Salem Al Suwaidi, Khalfan Belhol, Saood Al Hammadi.

Women’s team: Mouza Al Shamsi, Wadeema Al Yafei, Reem Al Hashmi, Mahra Al Hanaei, Bashayer Al Matrooshi, Hessa Thani, Salwa Al Ali.

UAE currency: the story behind the money in your pockets

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.”

Netherlands v UAE, Twenty20 International series

Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen​​​​​​​
Tuesday, August 6 – Third T20i, Voorburg​​​​​​​
Thursday, August 8 – Fourth T20i, Vooryburg

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