US prepares next phase of strikes as Republicans call for more action against Iran


Thomas Watkins
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The Biden administration on Saturday was facing calls from hawkish Republicans to go further in its military campaign against Iran-backed militias in Iraq and Syria, even though US officials have made it clear additional actions are imminent.

Supersonic B-1 bombers flew non-stop from the US on Friday night to strike dozens of targets in Iraq and Syria in the opening phase of a retaliatory response to a drone attack that killed three American troops in Jordan on January 28.

President Joe Biden said additional strikes would come “at times and places of our choosing” and Defence Secretary Lloyd Austin said Friday night's action was only “the start of our response”.

The strikes targeted facilities operated by Iran's Islamic Revolutionary Guard Corps (IRGC) and other Iran-backed militias, and about 40 people were reportedly killed in Iraq and Syria.

Mr Biden has repeatedly said the response is calibrated to avoid escalation with Iran and stressed he doesn't seek a war with Tehran even after the militia groups have launched more than 160 attacks against US forces in Iraq, Syria and Jordan in recent months.

But many from the Republican Party, which has long pushed for hawkish relations with Tehran, want to see Mr Biden do more.

“These military strikes are welcome, but come far too late for the three brave Americans who died and the nearly 50 wounded,” said Roger Wicker, the top Republican on the Senate Armed Services Committee.

“Iran and its proxies have tried to kill American soldiers and sink our warships 165 times while the Biden administration congratulates itself for doing the bare minimum. Instead of giving the Ayatollah the bloody nose that he deserves, we continue to give him a slap on the wrist.”

Syria expert Charles Lister, a senior fellow at the Middle East Institute, said that although Friday's strikes represented the most expansive US military action against Iran's proxies in Iraq and Syria since the Iraq war, it was clear they would not stop future attacks.

“Ultimately, Iran is engaged, both directly and through its proxies, in a campaign of attrition against the US and events in the last few days represent little more than a hiccup in that broader effort,” Mr Lister told The National.

“Should the next rounds of US military action be more assertive, and if they target Iranian operatives, we might be able to start to consider a more strategic effect in terms of deterrence, but we're definitely not there yet.”

Senator Pete Ricketts, who sits on the Senate Committee on Foreign Relations, said that to restore effective deterrence, “President Biden must hit Iran where it hurts”.

“Weak, telegraphed responses will not cut it. We need leadership, not appeasement,” he said.

President Joe Biden and first lady Jill Biden pay their respects as the bodies of the three troops killed in Jordan are returned to the US. Getty / AFP
President Joe Biden and first lady Jill Biden pay their respects as the bodies of the three troops killed in Jordan are returned to the US. Getty / AFP

Notably absent from the Republican criticism, however, was the usually voluble Donald Trump, the putative Republican nominee to run for president in November. He has long sought to pull US forces from the Middle East and has struck an isolationist tone at odds with the traditional hawkish wing of his party.

The response thus far appears to be designed not to entirely destroy the Iran-backed militias' capabilities, but to degrade their arsenals and weaken their ability to continue to strike.

“The goal here is to get these attacks to stop. We're not looking for a war with Iran,” National Security Council spokesman John Kirby told reporters.

An Iraqi militia official on Saturday hinted at a desire to de-escalate tensions in the Middle East.

Hussein Al Mosawi, an official for Harakat al-Nujaba, one of the main Iranian-backed militias in Iraq, condemned the US strikes, saying Washington “must understand that every action elicits a reaction.”

But he then struck a more conciliatory tone, telling the Associated Press that “we do not wish to escalate or widen regional tensions”.

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Power: 182hp @ 6,000rpm

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Fuel consumption, combined: 7.6L / 100km

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5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel

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6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The Baghdad Clock

Shahad Al Rawi, Oneworld

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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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March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick

UAE currency: the story behind the money in your pockets
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Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

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UAE currency: the story behind the money in your pockets
Updated: February 04, 2024, 4:47 AM