Iraq's powerful Shiite cleric Moqtada al-Sadr addresses the media with a giant photo of Jerusalem's Dome of the Rock mosque in the background in the shrine city of Najaf in central Iraq on December 7, 2017 to denounce US President Donald Trump's decision to recognise Jerusalem as Israel's capital. 
Sadr, who heads his own militia, demanded the closure of the American embassy in Baghdad and warned that "we can reach Israel through Syria". / AFP PHOTO / Haidar HAMDANI
Iraq's top Shiite cleric Moqtada Al Sadr addresses the media with a giant photo of Jerusalem's Dome of the Rock mosque in the background in the shrine city of Najaf in central Iraq on December 7, 2017Show more

Iraq’s top Shiite cleric orders fighters to disarm after defeat of ISIL



Iraq’s top Shiite cleric on Monday ordered his fighters to hand state-issued weapons back to the government following the country’s defeat of ISIL.

Moqtada Al Sadr’s fighters, Saraya Al Salam, or Peace Brigades, took up arms against the extremist group in 2014 after the fall of Mosul and are officially part of the government-sanctioned Popular Mobilisation Forces (PMF), also known as Hashed Al Shaabi.

In a televised statement, Mr Al Sadr called on his fighters to also hand over parts of the territory they control to Iraq’s security forces. He maintained, however, that his fighters would remain present as protectors of a holy Shiite shrine in Samarra, north of Baghdad.

He also demanded that the government "looks after the families of the martyrs" who fell during the three-year war against ISIL.

Mr Al Sadr demanded that his fighters, drawn largely from among the urban poor of Baghdad and southern Iraqi cities, be given jobs or be incorporated into the official armed and security forces.

Iran has armed and trained many PMF groups in Iraq but not Mr Al Sadr's Saraya Al Salam.

Iran-backed 'Harakat Hezbollah Al Nujaba', which has about 10,000 fighters and is one of the most important militias in Iraq, announced last month it would give any heavy weapons in its possession to the military once ISIL extremists were defeated.

Mr Al Sadr urged Iraq’s prime minister Haider Al Abadi to prevent leaders of the Iranian-backed Hashed Al Shaabi from running in the upcoming elections and to launch an investigation into the fall of Mosul.

Iraq is set to hold general elections in May and a number of Hashed Al Shaabi leaders have indicated their desire to run, despite Mr Al Abadi asserting that political factions with armed groups would not be allowed to participate in the elections.

“We ask the Iraqi government not to allow the Hashed Al Shaabi, under any circumstances, to participate in the elections, and to prevent PMF leaders from running,” Mr Al Sadr said.

On Saturday, Mr Al Abadi, announced the liberation of all Iraqi territories from ISIL extremists.

"The dream of liberation is now a reality,” he said. Mr Al Abadi's announcement followed a victory parade in Baghdad, with Iraqi army units marching through the main square in central Baghdad as helicopters and fighter jets flew overhead.

ISIL militants seized control of large parts of Iraq and neighbouring Syria in 2014, declaring a cross-border "caliphate" and committing widespread atrocities. At their height, the extremists threatened the country's very existence.

With backing from a US-led coalition, Iraqi forces gradually retook control of all territory lost to ISIL over the last three years.

Baghdad now not only faces pressure over the daunting challenge of reconstruction, but also over the future of Hashed Al Shaabi. Although it is officially part of the government forces, they are seen by the United States and Gulf Arab states as a potential tool for Iranian plans to expand its influence in the region.

Last week, a powerful Iran-backed Iraqi militant commander was filmed visiting the Lebanon-Israel border and expressing support for the Lebanese and Palestinians against Israel.

Qais Al Khazali of the Iran-backed Asaib Ahl Al Haq, or League of the Righteous, a group that staged spectacular attacks against US troops before their withdrawal from Iraq in 2011, appeared in military uniform in a video while touring the border with Israel along with members of Lebanon's militant Hizbollah group, which is also supported by Iran.

Results

5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m; Winner: Mcmanaman, Sam Hitchcock (jockey), Doug Watson (trainer)

6.05pm: Handicap (TB) Dh87,500 (T) 1,400m; Winner: Bawaasil, Sam Hitchcott, Doug Watson

6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m; Winner: Bochart, Fabrice Veron, Satish Seemar

7.15pm: Handicap (TB) Dh105,000 (T) 1,200m; Winner: Mutaraffa, Antonio Fresu, Musabah Al Muhairi

7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m; Winner: Rare Ninja, Royston Ffrench, Salem bin Ghadayer

8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m; Winner: Alfareeq, Antonio Fresu, Musabah Al Muhairi

9pm: Handicap (TB) Dh105,000 (T) 2,410m; Winner: Good Tidings, Antonio Fresu, Musabah Al Muhairi

9.35pm: Handicap (TB) Dh92,500 (T) 2,000m; Winner: Zorion, Abdul Aziz Al Balushi, Helal Al Alawi

 

CHINESE GRAND PRIX STARTING GRID

1st row
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)

2nd row
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)

3rd row
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)

4th row
Nico Hulkenberg (Renault)
Sergio Perez (Force India)

5th row
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)

6th row
Kevin Magnussen (Haas)
Esteban Ocon (Force India)

7th row
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)

8th row
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)

9th row
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)

10th row
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)

RESULTS

1.45pm: Maiden Dh75,000 1,200m
Winner: Lady Parma, Richard Mullen (jockey), Satish Seemar (trainer).
2.15pm: Maiden Dh75,000 1,200m
Winner: Tabernas, Connor Beasley, Ahmed bin Harmash.
2.45pm: Handicap Dh95,000 1,200m
Winner: Night Castle, Connor Beasley, Satish Seemar.
3.15pm: Handicap Dh120,000 1,400m
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
3.45pm: Handicap Dh80,000 1,400m
Winner: Mutawakked, Szczepan Mazur, Musabah Al Muhairi.
4.15pm: Handicap Dh90,000 1,800m
Winner: Tafaakhor, Sandro Paiva, Ali Rashid Al Raihe.
4.45pm: Handicap Dh80,000 1,950m
Winner: Cranesbill, Fabrice Veron, Erwan Charpy.

COMPANY PROFILE

Company name: Co Chocolat

Started: 2017

Founders: Iman and Luchie Suguitan

Based: Dubai, UAE

Industry: Food

Funding: $1 million-plus

Investors: Fahad bin Juma, self-funding, family and friends

MATCH INFO

Watford 1 (Deulofeu 80' p)

Chelsea 2 (Abraham 5', Pulisic 55')

The specs

Price, base / as tested Dh960,000
Engine 3.9L twin-turbo V8
Transmission Seven-speed dual-clutch automatic
Power 661hp @8,000rpm
Torque 760Nm @ 3,000rpm
Fuel economy, combined 11.4L / 100k

EXPATS

Director: Lulu Wang

Stars: Nicole Kidman, Sarayu Blue, Ji-young Yoo, Brian Tee, Jack Huston

Rating: 4/5

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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T20 World Cup Qualifier, Muscat

UAE FIXTURES

Friday February 18: v Ireland

Saturday February 19: v Germany

Monday February 21: v Philippines

Tuesday February 22: semi-finals

Thursday February 24: final 

RACECARD

5pm: Al Shamkha – Maiden (PA) Dh80,000 (Turf) 1,400m
5.30pm: Khalifa City – Handicap (PA) Dh80,000 (T) 1,400m
6pm: Masdar City – Handicap (PA) Dh80,000 (T) 1,600m
6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m
7pm: Emirates Championship – Group 1 (PA) Dh1,000,000 (T) 2,200m
7.30pm: Shakbout City – Handicap (TB) Dh80,000 (T) 2,400m

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

Manchester United v Club America

When: Thursday, 9pm Arizona time (Friday UAE, 8am)

RIDE ON

Director: Larry Yang

Stars: Jackie Chan, Liu Haocun, Kevin Guo

Rating: 2/5

Dengue fever symptoms

High fever (40°C/104°F)
Severe headache
Pain behind the eyes
Muscle and joint pains
Nausea
Vomiting
Swollen glands
Rash