Iraqi new Parliament Speaker Mohammed Al Halbousi, 37, center, and his political bloc hold a press conference In Baghdad, Iraq. AP
Iraqi new Parliament Speaker Mohammed Al Halbousi, 37, center, and his political bloc hold a press conference In Baghdad, Iraq. AP
Iraqi new Parliament Speaker Mohammed Al Halbousi, 37, center, and his political bloc hold a press conference In Baghdad, Iraq. AP
Iraqi new Parliament Speaker Mohammed Al Halbousi, 37, center, and his political bloc hold a press conference In Baghdad, Iraq. AP

Iraq's new house speaker challenges US sanctions on Iran


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In a blow to Iraq's leading political coalition that has attempted to distance itself from Iran, Baghdad's newly elected parliamentary speaker Mohammed Al Halbousi voiced his support for Tehran on Monday and opposed Washington's renewed economic sanctions on its neighbour.

Iran is a key power broker in Iraq and many of the militias that played a central role in ousting ISIS are known to have close ties to Tehran. Iraq has been in political paralysis since May elections that saw nationalist cleric Moqtada Al Sadr's bloc win most seats in parliament but fall short of forming a majority.

Mr Al Halbousi, a Sunni politician backed by a pro-Iran bloc led by Hadi Al Ameri’s Conquest Alliance, said on Monday that lawmakers in Baghdad oppose any economic pressure on Iran during a phone call with his Iranian counterpart, Ali Larijani.

"Iraq will always be with the Iranian people,” he said, adding that the country will support Tehran in restoring stability and security to the region.

US President Donald Trump withdrew Washington from an international deal aimed at limiting Iran’s nuclear program earlier this year and reimposed trade sanctions.

Those restrictions include penalties for transactions with Iran in US currency, gold, precious metals, graphite, coal and semi-finished metals, as well as large sales of Iranian rials and the issuing of Iranian debt. US imports of food and carpets from Iran are also restricted.

Washington warned there will be consequences for countries that do not respect the sanctions.

There is an internal Sunni dispute in government that pushed Mr Al Halbousi to become speaker of the house, Renad Mansour, senior research fellow at London's Chatham House told The National.

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"Halbousi and Khamis Al Khanjar [a Sunni business mogul] is seeking to maximize his power and influence by allying with Nouri Al Maliki and Hadi Al Amiri who are much closer to Iran," Mr Mansour said, adding the businessman was able to get ride of the stronger Sunni political opposition.

Sunni rivals of Mr Al Khanjar describe him as a self-promoter and accuse him of putting his desire for power above Iraq’s stability.

"That’s why the decision was made to stick to the Amiri-Maliki bloc and so Al Halbousi was a product of that," Mr Mansour said.

After Mr Al Halbousi was elected as speaker of the house, members of Mr Al Sadr's coalition walked out of Saturday's parliamentary session.

Mr Al Sadr has challenged foreign influence in Iraq, especially Iranian and American. The anti-corruption cleric whose "Iraq First" message during his electoral campaign appealed to voters across sectarian divides has left both Washington and Tehran on edge.

Iran hailed the selections made by Iraq’s parliament. Lawmakers picked candidates backed by a pro-Tehran bloc as speaker and first deputy.

Mr Al Halbousi's election marks the starts of a 90-day process outlined in the constitution, designed to eventually lead to a new government

“The Islamic Republic of Iran supports decisions made by the Iraqi people’s elected representative,” foreign ministry spokesman Bahram Ghasemi said on Sunday. “Iran has always supported Iraq’s democracy, territorial integrity and national sovereignty,” he said.

"We hope we will soon witness the election of the president and prime minister to form a new Iraqi government," said Mr Ghasemi.

The post of first deputy speaker was given to Hassan Karim, put forward by populist Shiite cleric Moqtada Al Sadr whose list won the largest share of seats in the election.

Before running in May's national election as a candidate on the Anbar Our Identity electoral list, Mr Al Halbousi was governor of the Sunni-majority province of Anbar, one of the main battlegrounds of the war against ISIS, until he was elected to parliament in the May 12 polls.

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

Tentative schedule of 2017/18 Ashes series

1st Test November 23-27, The Gabba, Brisbane

2nd Test December 2-6, Adelaide Oval, Adelaide

3rd Test Dcember 14-18, Waca, Perth

4th Test December 26-30, Melbourne Cricket Ground, Melbourne

5th Test January 4-8, Sydney Cricket Ground, Sydney

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Ultra processed foods

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

WTL%20SCHEDULE
%3Cp%3EDECEMBER%2019%20(6pm)%0D%3Cbr%3EKites%20v%20Eagles%0D%3Cbr%3EAliassime%20v%20Kyrgios%0D%3Cbr%3ESwiatek%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Tiesto%3C%2Fp%3E%0A%3Cp%3EDECEMBER%2020%20(6pm)%0D%3Cbr%3EFalcons%20v%20Hawks%0D%3Cbr%3EDjokovic%20v%20Zverev%0D%3Cbr%3ESabalenka%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Wizkid%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2021%20(6pm)%0D%3Cbr%3EFalcons%20v%20Eagles%0D%3Cbr%3EDjokovic%20v%20Kyrgios%0D%3Cbr%3EBadosa%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Ne-Yo%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2022%20(6pm)%0D%3Cbr%3EHawks%20v%20Kites%0D%3Cbr%3EThiem%20v%20Aliassime%0D%3Cbr%3EKontaveit%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20deadmau5%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(2pm)%0D%3Cbr%3EEagles%20v%20Hawks%0D%3Cbr%3EKyrgios%20v%20Zverev%0D%3Cbr%3EGarcia%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(6pm)%0D%3Cbr%3EFalcons%20v%20Kites%0D%3Cbr%3EDjokovic%20v%20Aliassime%0D%3Cbr%3ESabalenka%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2024%20(6pm)%0D%3Cbr%3EFinals%0D%3Cbr%3EEntertainment%3A%20Armin%20Van%20Buuren%0D%3Cbr%3E%0D%3C%2Fp%3E%0A
Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

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Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

COMPANY%20PROFILE
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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