US combat forces left Iraq in 2011 following the 2003 invasion, but thousands were sent back in 2014 to help Baghdad defeat ISIS under an international coalition. Getty Images
US combat forces left Iraq in 2011 following the 2003 invasion, but thousands were sent back in 2014 to help Baghdad defeat ISIS under an international coalition. Getty Images
US combat forces left Iraq in 2011 following the 2003 invasion, but thousands were sent back in 2014 to help Baghdad defeat ISIS under an international coalition. Getty Images
US combat forces left Iraq in 2011 following the 2003 invasion, but thousands were sent back in 2014 to help Baghdad defeat ISIS under an international coalition. Getty Images

US to resume talks with Iraqi armed forces


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The US and Iraq will resume talks aimed at ending the presence of American forces in Iraq, the US-led anti-ISIS coalition announced on Thursday.

Last month, Washington and Baghdad announced the start of formal talks aimed at ending the presence of the anti-ISIS military coalition in Iraq. They have met once since.

The next round of talks comes as two US recent strikes on Iran-backed militias in Iraq, including one late on Wednesday, have further angered the Iraqi government.

Baghdad was already complaining about the continued US presence in Iraq a decade after the Pentagon sent thousands of troops there to help the crumbling national security forces fight ISIS.

“We look forward to continuing military-to-military with our partners on Sunday afternoon as we assess our progress in our shared mission to defeat ISIS as well as discuss the future transition of our mission,” Operation Inherent Resolve's commander Maj Gen Joel “JB” Vowell said in a statement.

Iran-backed Shiite militias and political factions have been pushing the government to start talks with the US over ending the mission of the coalition and replacing it with bilateral security agreements.

The announcement of the resumption of talks came after the Wednesday drone strike in Baghdad that killed two high-ranking militia leaders.

One of those killed was believed to have managed the group's missile capabilities in Iraq and Syria.

US launches retaliatory strikes on Iran-backed targets in Iraq and Syria – video

Iraqi military spokesman Maj Gen Yahya Rasool said the attack was “a clear assassination by launching an air strike in the midst of a residential area in Baghdad”.

Foreign Minister Fuad Hussein discussed the matter in a phone call with US Secretary of State Antony Blinken, the Iraqi Foreign Ministry said in a Wednesday statement.

Emphasising the “need to return to the negotiation table and dialogue”, Mr Hussein reiterated the Iraqi government's rejection of US strikes.

US forces in the Middle East have been hit with a growing number of attacks from Iran-backed militias after Israel declared war on Hamas in October. An attack on a base in Jordan at the end of last month resulted in the deaths of three US soldiers.

The US has responded to these attacks with its own strikes in both Iraq and Syria.

“Attacks against US and coalition forces by groups who call themselves the Islamic Resistance in Iraq need to stop,” State Department deputy spokesman Vedant Patel said on Thursday, referring to an umbrella term for militant groups that have launched attacks on US forces.

“And so if we continue to see threats and attacks from these militia groups, we will respond will take appropriate steps to hold them accountable.”

New UK refugee system

 

  • A new “core protection” for refugees moving from permanent to a more basic, temporary protection
  • Shortened leave to remain - refugees will receive 30 months instead of five years
  • A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
  • To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
  • Under core protection there will be no automatic right to family reunion
  • Refugees will have a reduced right to public funds
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

UAE currency: the story behind the money in your pockets
The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T

Price, base: Dh840,000; Dh120,000

Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo

Transmission: Eight-speed automatic; seven-speed automatic

Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm

Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm

Fuel economy, combined: 9.9L / 100km; 11.6L / 100km

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ACC%20T20%20Women%E2%80%99s%20Championship
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ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

MATCH INFO

Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)

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.”

PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

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The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

Company%C2%A0profile
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