Supporters of Iraqi Shiite group Popular Crowd Forces carry the Iranian flag during a demonstration in Basra. EPA
Supporters of Iraqi Shiite group Popular Crowd Forces carry the Iranian flag during a demonstration in Basra. EPA

US to close consulate in Basra over Iran security risk



The United States will effectively close its consulate in the Iraqi city of Basra and relocate diplomatic personnel assigned there following increasing threats from Iran and Iran-backed militias, including rocket fire.

The decision adds to mounting tension between the United States and Iran, which is the target of increasing US economic sanctions.

US Secretary of State Mike Pompeo, as he explained the move on Friday, renewed a warning that the United States would hold Iran directly responsible for any attacks on Americans or diplomatic facilities.

It followed recent rocket attacks that Mr Pompeo said were directed at the consulate in Basra. US officials said the rockets, however, had not impacted the consulate, which is located on the Basra airport compound.

"I have made clear that Iran should understand that the United States will respond promptly and appropriately to any such attacks," Mr Pompeo said in a statement.

He did not explicitly say whether a US response was imminent, however, and other U.S. officials did not disclose potential response options.

Still, Mr Pompeo said the threats against US personnel and facilities in Iraq were "increasing and specific" and added that Washington was working with Iraqi forces and US allies to address them.

"We look to all international parties interested in peace and stability in Iraq and the region to reinforce our message to Iran regarding the unacceptability of their behaviour", he said.

In a statement, the US State Department said the consulate was placed on "ordered departure," which technically involves a drawdown in staff. Although some personnel could remain on the diplomatic compound, the move is believed to effectively close the consulate, at least temporarily.

The decision came days after US President Donald Trump and Iranian President Hassan Rouhani exchanged taunts at the United Nations General Assembly, with Mr Trump vowing more sanctions and accusing Iran's leaders of sowing "chaos, death and destruction."

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Mr Trump's national security adviser, John Bolton, speaking at a nearby event in New York on Tuesday, warned "there will indeed be hell to pay" if Iran crosses the United States, its allies or harms US citizens.

In May, Mr Trump withdrew the United States from an international deal to put curbs on Iran's nuclear program in exchange for easing sanctions.

France, Britain, Germany, China and Russia have stayed in the pact, vowing to save it despite the restoration of US sanctions. The rial has lost 40 per cent of its value against the US dollar since April.

Iran has blamed US sanctions for the currency's fall, saying the measures amount to a "political, psychological and economic" war on Tehran, and accused the United States and Israel of involvement in a deadly attack at a military parade in southwestern Iran this month.

Basra has already been rocked by violent protests seen by experts as a rejection of the Iraqi political establishment that has held on to power — with the support of the United States and Iran — despite failing to improve people's lives there.

Protesters in Basra ransacked and torched Iraqi government buildings this month and the Iranian consulate was set alight by demonstrators shouting condemnation of what many see as Iran's sway over Iraq's affairs.

For the first time in several years, mortar shells also landed this month inside Baghdad's heavily fortified Green Zone, which houses parliament, government buildings and many foreign embassies.

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

The biog

Name: Atheja Ali Busaibah

Date of birth: 15 November, 1951

Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”

Hobbies: Reading and writing poetry

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.

Yuki Means Happiness
Alison Jean Lester
John Murray 

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Pad Man

Dir: R Balki

Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte

Three-and-a-half stars

Tour de France Stage 16:

165km run from Le Puy-en-Velay to Romans-sur-Isère

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
THE%20FLASH
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Andy%20Muschietti%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Sasha%20Calle%2C%20Ben%20Affleck%2C%20Ezra%20Miller%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

The specs: 2018 Volkswagen Teramont

Price, base / as tested Dh137,000 / Dh189,950

Engine 3.6-litre V6

Gearbox Eight-speed automatic

Power 280hp @ 6,200rpm

Torque 360Nm @ 2,750rpm

Fuel economy, combined 11.7L / 100km