ISIS has claimed responsibility for the assassination of an Iraqi parliamentary candidate on Sunday night, just days before polls open in one of the region's most anticipated elections.
Gunmen shot dead Faruq Zarzur Al Jubouri, a 45-year-old candidate loyal to Vice President Ayad Allawi, at his home in the town of Qayyarah, 70 kilometres from Mosul, the former ISIS bastion in northern Iraq.
The terror group said in a statement published on the encrypted messaging app Telegram on Monday that Mr Al Jubouri was killed because he was “an atheist”.
Mr Al Jubouri, a Sunni Muslim, was running for a parliamentary seat under the National Alliance list led by Mr Allawi, a Shiite politician. ISIS has long targeted Iraq's Shia community.
His bloc condemned the assassination and called for an investigation into his death.
"The terror group's heinous acts continue to escalate. We call on our security forces to become more vigilant in protecting our citizens from terrorism," the spokesman for The National Coalition Alliance told The National.
“The death of our brother Farouk and the attacks on other candidates will strengthen our determination to push for reforms in Iraq,” the spokesman said.
Mr Al Jubouri became the fifth member of parliament to die in the run up to the elections. He is believed to be the first parliamentarian to have been targeted by ISIS.
“The electoral process has reached a low level of indecency while the campaigning process has been based on hypocrisy and lies," the spokesman said.
_______________
Read more
Iraq's top Shiite cleric hints at opposition to Maliki
Kurds shy away from Iraqi vote after independence hopes were dashed
_______________
Since the start of Iraq's electoral campaigns a number of candidates have been killed nationwide.
On Monday, Fawziya Al Jashma, a candidate on the State of Law Coalition list, led by former Prime Minister Nouri Al Maliki, was killed in a car crash in Babil Governorate, 90 kilometres south of Baghdad.
Last week, ISIS threatened to target polling stations in the key vote that comes just months after the Iraqi government declared the group to be defeated in the country. ISIS’s spokesman said in an audio message that anyone who participates in the vote would be considered an infidel, or a disbeliever.
The extremists accused the country’s Shiite-led government of being a proxy of Iran and warned that anyone who participates in next week’s vote would be targeted.
"We warn you, Sunnis of Iraq, of these people [Shiites] taking power. Polling stations are a target for us, so stay away from them," Abu Al Hassan Al Muhajer said. In response, Iraqi security officials vowed to protect polling centres.
Polls on May 12 are the first to be held since Iraqi Prime Minister Haider Al Abadi declared victory over the terror group last December. They are also the fourth parliamentary elections since the fall of former dictator Saddam Hussein.
Mr Al Abadi is seeking another term after taking office in September 2014, shortly after much of the Iraqi military collapsed in the face of an ISIS advance which saw a third of the country fall.
Despite earlier declarations about the group’s defeat, ISIS sleeper cells have remained active across the country.
The years Ramadan fell in May
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.”
Essentials
The flights
Emirates flies direct from Dubai to Seattle from Dh6,755 return in economy and Dh24,775 in business class.
The cruise
UnCruise Adventures offers a variety of small-ship cruises in Alaska and around the world. A 14-day Alaska’s Inside Passage and San Juans Cruise from Seattle to Juneau or reverse costs from $4,695 (Dh17,246), including accommodation, food and most activities. Trips in 2019 start in April and run until September.
More from Neighbourhood Watch:
More on Quran memorisation:
Getting%20there%20and%20where%20to%20stay
%3Cp%3EEtihad%20Airways%20operates%20seasonal%20flights%20from%20Abu%20Dhabi%20to%20Nice%20C%C3%B4te%20d'Azur%20Airport.%20Services%20depart%20the%20UAE%20on%20Wednesdays%20and%20Sundays%20with%20outbound%20flights%20stopping%20briefly%20in%20Rome%2C%20return%20flights%20are%20non-stop.%20Fares%20start%20from%20Dh3%2C315%2C%20flights%20operate%20until%20September%2018%2C%202022.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20Radisson%20Blu%20Hotel%20Nice%20offers%20a%20western%20location%20right%20on%20Promenade%20des%20Anglais%20with%20rooms%20overlooking%20the%20Bay%20of%20Angels.%20Stays%20are%20priced%20from%20%E2%82%AC101%20(%24114)%2C%20including%20taxes.%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Belong%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Michael%20Askew%20and%20Matthew%20Gaziano%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Technology%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%243.5%20million%20from%20crowd%20funding%20and%20angel%20investors%3Cstrong%3E%3Cbr%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3C%2Fp%3E%0A
MATCH INFO
Mumbai Indians 186-6 (20 ovs)
Kings XI Punjab 183-5 (20 ovs)
Mumbai Indians won by three runs
