There is no place for former Prime Minister Nouri Al Maliki in the coalition to form Iraq's next government, a spokesman for the recent election's largest political bloc has said.
"Nouri Al Maliki is not welcome to join the coalition," Dhiaa Al Assadi, a close aide to Shiite Cleric Moqtada Al Sadr, told The National.
Last month's parliamentary elections saw electoral lists led by nationalist Mr Al Sadr and Iranian-backed militia chief Hadi Al Amiri win the largest number of seats. The two leaders announced their intention to form an alliance of their political blocs on Wednesday.
They called on other political groups to join them in a coalition. Notably absent from that invitation was Mr Al Maliki.
It appears a decisive set back for Mr Al Maliki, who in the past managed to cling to power despite rising unpopularity.
Mr Al Maliki took power in 2006 with the blessing of both the United States and Iran. But he rapidly alienated the country's Sunni and Kurdish minorities by shutting them out of key security positions and undermining power-sharing agreements.
During the 2010 elections, a secular bloc headed by vice president Ayad Allawi won the most seats in parliament. But Tehran backed Mr Al Maliki to remain in power, who was able to form a "national unity" government with the help of Mr Al Sadr.
Mr Al Maliki was finally forced to step down in 2014 following the collapse of a third of Iraq's military and police units in the face of an ISIS offensive which overran a third of the country. He immediately assumed the largely ceremonial role for vice president. He was replaced as premier by fellow Dawa Party member Haider Al Abadi.
As general secretary of the Dawa party, Mr Maliki has retained political influence, though his State of Law coalition performed bellow expectations in the recent elections, winning just 26 seats.
The blocs controlled by Mr Al Sadr and Mr Amiri control 101 seats, short of the 165 required to form a majority.
Mr Al Sadr's Sairoun alliance, which also includes the Communist Party and secular candidates, won 54 seats, while Mr Amiri's Fatah coalition of Shiite paramilitaries won 47 seats.
Incumbent Prime Minister Abadi's Victory alliance took 42 seats.
"His Eminence [Mr Al Sadr] has always welcomed Dr Al Abadi to join his coalition," Mr Al Assadi said.
The Shiite cleric has previously vowed that he would not allow Mr Maliki another term as prime minister.
Even his former backers in Tehran may have given up on him. "Nouri Al Maliki was Iran's best person but they accept that he's not part of the next government because of the instability caused" during his time in power, Renad Mansour, senior research fellow at London's Chatham House, told The National.
“Al Sadr’s stance has been to side-line Nouri Al Maliki," he added.
Mr Al Sadr's strong election performance marked the culmination of years of speaking out against corruption and government mismanagement.
He first built his name outside of mainstream politics, as the head of the Mehdi Army militia which fought against the US occupation using sophisticated bombs likely supplied by the Iranians. But he has remained a staunch nationalist, critical of Iranian interference in Iraq.
For his proposed coalition to succeed, Mr Al Sadr will need to overcome grievances from members of his own bloc who insist Tehran should not be permitted to interfere in Iraq's affairs.
Iran backs Mr Al Amiri, a militia leader who spent two decades fighting former dictator Saddam Hussein from Iran. He is also close to General Qassem Soleimani, commander of foreign operations for Iran's Revolutionary Guards who has great influence in Iraq.
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
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.”
Breast cancer in men: the facts
1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.
2) Symptoms can include a lump, discharge, swollen glands or a rash.
3) People with a history of cancer in the family can be more susceptible.
4) Treatments include surgery and chemotherapy but early diagnosis is the key.
5) Anyone concerned is urged to contact their doctor
SHALASH%20THE%20IRAQI
%3Cp%3EAuthor%3A%20Shalash%3Cbr%3ETranslator%3A%20Luke%20Leafgren%3Cbr%3EPages%3A%20352%3Cbr%3EPublisher%3A%20And%20Other%20Stories%3C%2Fp%3E%0A
Jebel Ali card
1.45pm: Maiden Dh75,000 1,400m
2.15pm: Handicap Dh90,000 1,400m
2.45pm: Maiden Dh75,000 1,000m
3.15pm: Handicap Dh105,000 1,200m
3.45pm: Maiden Dh75,000 1,600m
4.15pm: Handicap Dh105,000 1,600m
4.45pm: Handicap Dh80,000 1,800m
The National selections
1.45pm: Cosmic Glow
2.15pm: Karaginsky
2.45pm: Welcome Surprise
3.15pm: Taamol
3.45pm: Rayig
4.15pm: Chiefdom
4.45pm: California Jumbo
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
FIGHT CARD
1. Featherweight 66kg
Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg
Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg
Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg
Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg
Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg
Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg
Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg
Mostafa Radi (PAL) v Abdipatta Abdizhali (KGZ)
9. Featherweight 66kg
Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg
Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
The specs: 2017 Ford F-150 Raptor
Price, base / as tested Dh220,000 / Dh320,000
Engine 3.5L V6
Transmission 10-speed automatic
Power 421hp @ 6,000rpm
Torque 678Nm @ 3,750rpm
Fuel economy, combined 14.1L / 100km
