Barbara Leaf meets with Iraq's Prime Minister Mustafa Al Kadhimi in Baghdad. Photo: Iraqi Prime Minister's Office
Barbara Leaf meets with Iraq's Prime Minister Mustafa Al Kadhimi in Baghdad. Photo: Iraqi Prime Minister's Office
Barbara Leaf meets with Iraq's Prime Minister Mustafa Al Kadhimi in Baghdad. Photo: Iraqi Prime Minister's Office
Barbara Leaf meets with Iraq's Prime Minister Mustafa Al Kadhimi in Baghdad. Photo: Iraqi Prime Minister's Office

Barbara Leaf emphasises resolving disputes between Iraq and Kurds on regional trip


Ellie Sennett
  • English
  • Arabic

Barbara Leaf, the US assistant secretary of state for Near Eastern affairs, expressed the “urgency” of resolving the political impasse in Iraq and the importance of unity among Kurdish parties in meetings with local political leaders, the State Department said on Wednesday.

Ms Leaf is in Iraq this week on the tailend of a regional trip that has also included Tunisia, Israel, the West Bank and Jordan.

Vedant Patel, the State Department's deputy spokesman, confirmed to reporters that Ms Leaf had reiterated US President Joe Biden's calls for a peaceful resolution to disputes between Iraq and the Kurdish region, and added that energy issues between Baghdad and Erbil were also discussed.

Iraq and the Kurdistan Regional Government have been engaged in escalating disputes over natural resources, made worse by violent political infighting in Baghdad.

A months-long political stalemate in Iraq culminated last month with influential Shiite cleric Moqtada Al Sadr withdrawing members of his party from parliament. A group of his followers then stormed and occupied Baghdad's Green Zone, engaging in deadly clashes with security forces and rival militia groups after Mr Al Sadr announced his resignation from politics.

The ensuing violence killed at least 30 people.

  • Iraqi Prime Minister Mustafa Al Kadhimi has threatened to resign if the political stand-off in the country is not resolved. Photo: Iraqi Prime Minister's Media Office
    Iraqi Prime Minister Mustafa Al Kadhimi has threatened to resign if the political stand-off in the country is not resolved. Photo: Iraqi Prime Minister's Media Office
  • An aerial view of Yafa Street in Baghdad after Shiite cleric Moqtada Al Sadr called on his supporters to withdraw from the Iraqi capital's heavily fortified Green Zone. AP
    An aerial view of Yafa Street in Baghdad after Shiite cleric Moqtada Al Sadr called on his supporters to withdraw from the Iraqi capital's heavily fortified Green Zone. AP
  • Plumes of smoke rise after small fires were lit near the Tomb of the Unknown Soldier and Parliament in Baghdad. AP
    Plumes of smoke rise after small fires were lit near the Tomb of the Unknown Soldier and Parliament in Baghdad. AP
  • Mr Al Sadr's followers heed his call to withdraw from the Green Zone after violent clashes in Baghdad. Reuters
    Mr Al Sadr's followers heed his call to withdraw from the Green Zone after violent clashes in Baghdad. Reuters
  • A supporter of Mr Al Sadr helps to dismantle the encampment in Baghdad's high-security Green Zone. AFP
    A supporter of Mr Al Sadr helps to dismantle the encampment in Baghdad's high-security Green Zone. AFP
  • Supporters of Mr Al Sadr pack up belongings as they prepare to leave the Green Zone. AP
    Supporters of Mr Al Sadr pack up belongings as they prepare to leave the Green Zone. AP
  • A supporter of Mr Al Sadr rolls up a mattress as their encampment in the Green Zone is dismantled. AFP
    A supporter of Mr Al Sadr rolls up a mattress as their encampment in the Green Zone is dismantled. AFP
  • Municipality workers clean up while Iraqi army soldiers guard the entrance to the Green Zone. AFP
    Municipality workers clean up while Iraqi army soldiers guard the entrance to the Green Zone. AFP
  • Mr Al Sadr addresses a news conference in Najaf, Iraq. Reuters
    Mr Al Sadr addresses a news conference in Najaf, Iraq. Reuters
  • Iraqi Shiite gunmen clash with government forces in the Green Zone of central Baghdad. EPA
    Iraqi Shiite gunmen clash with government forces in the Green Zone of central Baghdad. EPA
  • Smoke rises from a building in Baghdad. EPA
    Smoke rises from a building in Baghdad. EPA
  • Armed members of Saraya Al Salam, the military wing affiliated with Shiite cleric Moqtada Al Sadr. AFP
    Armed members of Saraya Al Salam, the military wing affiliated with Shiite cleric Moqtada Al Sadr. AFP
  • An armed member of Saraya Al Salam. AFP
    An armed member of Saraya Al Salam. AFP
  • A member of Saraya Al Salam takes aim. AFP
    A member of Saraya Al Salam takes aim. AFP
  • Armed members of the Peace Brigades militia in Baghdad's Green Zone. AFP
    Armed members of the Peace Brigades militia in Baghdad's Green Zone. AFP
  • They are affiliated with Shiite cleric Moqtada Al Sadr. AFP
    They are affiliated with Shiite cleric Moqtada Al Sadr. AFP
  • Peace Brigades members clash with security forces in the Iraqi capital. AFP
    Peace Brigades members clash with security forces in the Iraqi capital. AFP
  • The office of rival Shiite party the Badr Organisation, which was burnt by Sadrists. Reuters
    The office of rival Shiite party the Badr Organisation, which was burnt by Sadrists. Reuters
  • Iraqi security armoured vehicles during clashes with the Peace Brigades in the Green Zone. AFP
    Iraqi security armoured vehicles during clashes with the Peace Brigades in the Green Zone. AFP
  • Peace Brigades members carry weapons in the fortified zone. AFP
    Peace Brigades members carry weapons in the fortified zone. AFP
  • Smoke over Baghdad during an army-imposed curfew, a day after 23 Al Sadr supporters were shot dead. AFP
    Smoke over Baghdad during an army-imposed curfew, a day after 23 Al Sadr supporters were shot dead. AFP
  • A Peace Brigades member leads a mass funeral in Najaf for Al Sadr supporters killed in the clashes in Baghdad's Green Zone. AFP
    A Peace Brigades member leads a mass funeral in Najaf for Al Sadr supporters killed in the clashes in Baghdad's Green Zone. AFP
  • Tears during the mass funeral. AFP
    Tears during the mass funeral. AFP
  • Mourners pray in front of the coffins of Al Sadr supporters. Reuters
    Mourners pray in front of the coffins of Al Sadr supporters. Reuters
  • A coffin is carried at the funeral. AFP
    A coffin is carried at the funeral. AFP
  • The ceremony took place at a cemetery in Najaf, central Iraq. AFP
    The ceremony took place at a cemetery in Najaf, central Iraq. AFP

“We encourage the parties to determine a way forward that supports existing and future investment that advances the interest of the Iraqi people, including those in the Kurdistan region as well,” Mr Patel said.

“This includes working to advance the US Iraq Strategic Framework Agreement to support areas in which we can collaborate together, including energy, education and infrastructure.”

Mr Patel denied that the administration had raised Iraqi-Kurdish energy disputes in response to recent congressional calls for enhanced engagement on the matter.

  • Barbara Leaf, who previously served as US ambassador to the UAE, expresses her condolences to President Sheikh Mohamed after the death of Sheikh Khalifa. Photo: MOPA
    Barbara Leaf, who previously served as US ambassador to the UAE, expresses her condolences to President Sheikh Mohamed after the death of Sheikh Khalifa. Photo: MOPA
  • Ms Leaf with then-vice president Joe Biden on a 2016 tour of Masdar City with Dr Sultan Al Jaber, now Minister of Industry and Advanced Technology. Photo: Crown Prince Court - Abu Dhabi
    Ms Leaf with then-vice president Joe Biden on a 2016 tour of Masdar City with Dr Sultan Al Jaber, now Minister of Industry and Advanced Technology. Photo: Crown Prince Court - Abu Dhabi
  • Ms Leaf previously served as the US ambassador to the UAE. Photo: Crown Prince Court - Abu Dhabi
    Ms Leaf previously served as the US ambassador to the UAE. Photo: Crown Prince Court - Abu Dhabi
  • Ms Leaf with Mr Biden at the Sheikh Zayed Grand Mosque. Photo: Crown Prince Court - Abu Dhabi
    Ms Leaf with Mr Biden at the Sheikh Zayed Grand Mosque. Photo: Crown Prince Court - Abu Dhabi
  • Ms Leaf visits Sheikh Zayed Grand Mosque in March 2016 alongside Mr Biden. Photo: Crown Prince Court - Abu Dhabi
    Ms Leaf visits Sheikh Zayed Grand Mosque in March 2016 alongside Mr Biden. Photo: Crown Prince Court - Abu Dhabi
  • Ms Leaf meets Palestinian President Mahmoud Abbas in Ramallah, in the Israeli-occupied West Bank on June 11, 2022. Reuters
    Ms Leaf meets Palestinian President Mahmoud Abbas in Ramallah, in the Israeli-occupied West Bank on June 11, 2022. Reuters
  • Ms Leaf currently serves as the US assistant secretary of state for Near Eastern affairs. Antonie Robertson / The National
    Ms Leaf currently serves as the US assistant secretary of state for Near Eastern affairs. Antonie Robertson / The National
  • She was the US ambassador to the UAE from 2014 to 2018. Reem Mohammed / The National
    She was the US ambassador to the UAE from 2014 to 2018. Reem Mohammed / The National
  • Ms Leaf visits the kitchen at Ray's Grill, Abu Dhabi. Photo: US Embassy
    Ms Leaf visits the kitchen at Ray's Grill, Abu Dhabi. Photo: US Embassy
  • Ms Leaf at the 2017 Najah Education Fair at Adnec in Abu Dhabi. Pawan Singh / The National
    Ms Leaf at the 2017 Najah Education Fair at Adnec in Abu Dhabi. Pawan Singh / The National
  • Ms Leaf attends the USA Healthcare Symposium and Showcase in October 2017 at the Mohammed bin Rashid Academic Medical Centre in Dubai. Antonie Robertson / The National
    Ms Leaf attends the USA Healthcare Symposium and Showcase in October 2017 at the Mohammed bin Rashid Academic Medical Centre in Dubai. Antonie Robertson / The National
  • Ms Leaf welcomes John Kerry, the US secretary of state at the time, to Abu Dhabi during her time as ambassador to the UAE. AP
    Ms Leaf welcomes John Kerry, the US secretary of state at the time, to Abu Dhabi during her time as ambassador to the UAE. AP
  • Ms Leaf was confirmed as the head the US State Department’s Middle East bureau earlier this year. Vidhyaa Chandramohan / The National
    Ms Leaf was confirmed as the head the US State Department’s Middle East bureau earlier this year. Vidhyaa Chandramohan / The National

Congressional Republicans wrote to Mr Biden is recent weeks, saying that the energy disputes endanger Washington's mission of “supporting a stable, sovereign and democratic Iraq free from malign foreign influence”.

Meanwhile, the State Department re-emphasised that Washington supports Iraqi Prime Minister Mustafa Al Kadhimi's calls for peace, but views the unrest as Baghdad's responsibility.

“We don't view this as a US issue,” Mr Patel told reporters.

“It's an Iraqi issue and our posture has continued to be calling for calm and calling for peace amid some of the demonstrations and ultimately what we want to see is a strong, united, resilient and sovereign Iraqi state.”

Iraqi Prime Minister Mustafa Al Kadhimi threatens to resign if political tension continues

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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20JustClean%3Cbr%3E%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20with%20offices%20in%20other%20GCC%20countries%3Cbr%3E%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202016%3Cbr%3E%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20160%2B%20with%2021%20nationalities%20in%20eight%20cities%3Cbr%3E%3Cstrong%3E%3Cbr%3ESector%3A%3C%2Fstrong%3E%20online%20laundry%20and%20cleaning%20services%3Cbr%3E%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%2430m%20from%20Kuwait-based%20Faith%20Capital%20Holding%20and%20Gulf%20Investment%20Corporation%3C%2Fp%3E%0A
The bio:

Favourite film:

Declan: It was The Commitments but now it’s Bohemian Rhapsody.

Heidi: The Long Kiss Goodnight.

Favourite holiday destination:

Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.

Heidi: Australia but my dream destination would be to go to Cuba.

Favourite pastime:

Declan: I love brunching and socializing. Just basically having the craic.

Heidi: Paddleboarding and swimming.

Personal motto:

Declan: Take chances.

Heidi: Live, love, laugh and have no regrets.

 

Tenet

Director: Christopher Nolan

Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh 

Rating: 5/5

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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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Updated: September 07, 2022, 8:28 PM