Iraq's political crisis deepens as Allawi withdraws PM candidacy


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Iraq’s political stalemate deepened on Monday when Prime Minister designate Mohammed Allawi withdrew his candidacy after failing to secure parliamentary backing for his cabinet. The move, a month after Mr Allawi's appointment, plunges the country into further political chaos following months of unrest and a violent police crackdown.

“If I agreed to offer concessions, I would be prime minister now, but I tried everything possible to save the country from sliding toward the unknown and resolve the current crisis. But the negotiations hit repeated snags,” he said in a short address to the nation, explaining his decision to withdraw.

Iraq’s President Barham Salih now has 15 days to choose a new candidate for prime minister. In a tweet on Sunday, Mr Allawi accused lawmakers of obstructing his attempt to form a government after Iraq’s parliament failed to approve his cabinet for the second time in a week.

“I submitted a letter to the President of the Republic, in which he apologised for assigning me to form the government," he said. "I was in front of this equation, the position of prime minister in exchange for lack of honesty with my people and continuing the position at the expense of their suffering."

In the letter, Mr Allawi charged that some factions were "not serious about reform or fulfilling their pledges to the people". It’s the first time a premier-designate has failed to secure parliamentary backing for a cabinet line-up in Iraq.

One Iraqi official, speaking on condition of anonymity, told AFP that "political leaders are living in a bubble" and dealing with the crisis "as though nothing has happened in the country".

Mr Allawi was appointed last month in an attempt to ease tensions in Iraq after anti-government protests forced the resignation of former Prime Minister Adel Abdul Mahdi in November.

He was chosen as a consensus candidate among Iraq’s divided political parties but his appointment met with criticism among protesters, many of whom consider him to be part of the political elite they have rallied against.

But delays and political infighting marred the weeks leading up to Sunday’s Parliament session as Allawi insisted he would select his own ministers — a move that alienated Kurdish and Sunni parties in particular and sparked threats of boycott.

Many have celebrated his departure as a victory for Iraqis. "We have already removed Abdel Mahdi and now Allawi," said Roqiya, a 20-year-old student demonstrating in Baghdad, who charged that "political parties pursue only their own interests".

The influential Iraqi cleric Moqtada Al Sadr, who holds significant sway among Iraq’s majority Shia population, hailed Mr Allawi’s decision as taken “for the love of Iraq.”

Mr Al Sadr initially threw his weight behind the protesters, accusing “corrupt” politicians of “holding the country hostage” before withdrawing his support last month.

The protesters instead support Alaa al-Rikaby, a pharmacist who has emerged as a prominent activist in the southern protest hotspot of Nasiriyah.

On Sunday morning, as the country marked five months since the uprising began, protesters in Baghdad’s Tahrir Square demanded Mr Allawi’s resignation.

Since early October, more than 500 people have been killed in violent crackdowns by security forces, who have used tear gas and live ammunition on the largely peaceful demonstrators.

The protests have coincided with rising tensions between the US and Iran, which has played out on Iraqi soil over recent months.

On Sunday night, two Katyusha rockets fell inside Baghdad’s fortified Green Zone, which houses government buildings and embassies, with one landing near the US embassy. No casualties were reported from the attack, which came within hours of Mr Allawi withdrawing his candidacy.

Since October there have been numerous attacks on US assets in Iraq, including military bases. Most have not been claimed but Washington has blamed Iran-backed group Hashed Al Shaabi, a loose coalition of militias officially incorporated into Iraq's state security forces.

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Price, base: Dh1,731,672

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Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

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Fuel economy: 19.6L / 100km

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Director:Guillermo del Toro

Stars:Bradley Cooper, Cate Blanchett, Rooney Mara

Rating: 3/5

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Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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

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Gender pay parity on track in the UAE

The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.

"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."

Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.

"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.

As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general. 

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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

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They must cycle on designated lanes and areas and ride safe on pavements to avoid bumping into pedestrians

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