Al Azhar warns of ISIS efforts to regain its status in Iraq

One of the highest Sunni authorities in the region warned on Tuesday that ISIS is using Iraq's current political and military crisis to gain ground.

Al Azhar University’s Observatory, which has been closely monitoring ISIS, said the group is attempting to reform and improve its status in Iraq.

“The group is using technology and digital platforms to spread their messages and ideology to recruit young individuals to regain its grounds,” the observatory said.

It called on the international community to unite in the face of terrorism to halt the group’s resurgence.

The warning comes as tensions between Washington and Tehran escalated in Iraq prompting fears that ISIS could make a comeback amid the upheaval.

It follows the US killing of Iranian General Qassem Suleimani and top Iraqi militia leader Abu Mahdi Al Muhandis near Baghdad airport earlier this month.

Tehran retaliated with rocket attacks carried out by militias against US personnel stationed in Iraq.

The tit-for-tat strikes pushed the Iraqi parliament to issue a non-binding call for the estimated 5,000 US troops and other foreign forces to leave the country.

The decision was mostly driven by pro-Iranian factions in parliament.

But US President Donald Trump’s administration said it is determined to keep troops in Iraq.

US troops are involved in active operations against ISIS remnants, but most are engaged in training the Iraqi army.

US-Iran role in the fight against ISIS

The presence of US troops in Iraq is part of a request for assistance to combat ISIS that was sent in 2014 when the group seized large areas of Iraq and Syria.

Although the US and Iran have not had any diplomatic relation since 1980, the two found common ground in their battle against the insurgents.

General Suleimani played an important role in the fight against ISIS in Iraq.

Iran was also heavily involved in the battle, they were the first to provide assistance by deploying its own troops on the ground.

Yet it was unclear how closely they cooperated.

Fears of ISIS resurgence

While experts are concerned about the return of ISIS, they also say that a US withdrawal will not mean that ISIS will have a strong reprisal.

A US withdrawal or even a reorientation will likely work to ISIS' advantage. However, while this would entail a deterioration in security, it does not mean a return to 2014, Fanar Haddad, a senior research fellow at the Middle East Institute at the National University of Singapore, said.

"The Iraqi state and the Iraqi security sector are very different today to what they were six years ago, so too are political and social dynamics in the areas that fell to ISIS," Mr Haddad told The National.

Aymenn Jawad Al Tamimi, an independent analyst who monitors ISIS, believes the group has not made any immediate tangible gains from the recent tensions except for their relief about the assassination of General Suleimani.

If US troops were to withdraw from the country then it could mean that Iraqi forces would "lose an important source of support for keeping ISIS in check in some rural areas," Mr Al Tamimi told The National.

“This could allow the group to gain strength in conducting insurgent operations, though I don’t think it will necessarily lead to ISIS seizing large swathes of territory,” Mr Al Tamimi said.

Yet, the fallout from General Suleimani’s death appears to have negative ramifications for the counter-ISIS campaign, said Mona Yacoubian, senior adviser at the US Institute of Peace.

"Concerned about force protection, the US-led Global Coalition to Defeat ISIS has announced a suspension of its operations," Ms Yacoubian said, adding that the group will "exploit heightened sectarianism to seek additional recruits."

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

How England have scored their set-piece goals in Russia

Three Penalties

v Panama, Group Stage (Harry Kane)

v Panama, Group Stage (Kane)

v Colombia, Last 16 (Kane)

Four Corners

v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)

v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)

v Panama, Group Stage (Stones, header, from Trippier corner)

v Sweden, Quarter-Final (Maguire, header, from Young corner)

One Free-Kick

v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)

COMPANY PROFILE

Name: Kumulus Water

Started: 2021

Founders: Iheb Triki and Mohamed Ali Abid

Based: Tunisia

Sector: Water technology

Number of staff: 22

Investment raised: $4 million

UAE currency: the story behind the money in your pockets

More coverage from the Future Forum

• Remittance charges will be tackled by blockchain

• UAE's monumental and risky Mars Mission to inspire future generations, says minister

• Could the UAE drive India's economy?

• News has a bright future and the UAE is at the heart of it

• Architecture is over - here's cybertecture

• The National announces Future of News journalism competition

• Round up: Experts share their visions of the world to come

The specs

Engine: 4.0-litre flat-six

Power: 510hp at 9,000rpm

Torque: 450Nm at 6,100rpm

Transmission: 7-speed PDK auto or 6-speed manual

Fuel economy, combined: 13.8L/100km

On sale: Available to order now

Price: From Dh801,800

ON%20TRACK

%3Cp%3EThe%20Dubai%20Metaverse%20Assembly%20will%20host%20three%20main%20tracks%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEducate%3A%3C%2Fstrong%3E%20Consists%20of%20more%20than%2010%20in-depth%20sessions%20on%20the%20metaverse%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInspire%3A%3C%2Fstrong%3E%20Will%20showcase%20use%20cases%20of%20the%20metaverse%20in%20tourism%2C%20logistics%2C%20retail%2C%20education%20and%20health%20care%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EContribute%3A%3C%2Fstrong%3E%20Workshops%20for%20metaverse%20foresight%20and%20use-case%20reviews%3C%2Fp%3E%0A

ALRAWABI%20SCHOOL%20FOR%20GIRLS

%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

WWE Super ShowDown results

Seth Rollins beat Baron Corbin to retain his WWE Universal title

Finn Balor defeated Andrade to stay WWE Intercontinental Championship

Shane McMahon defeated Roman Reigns

Lars Sullivan won by disqualification against Lucha House Party

Randy Orton beats Triple H

Braun Strowman beats Bobby Lashley

Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship

Mansoor Al Shehail won the 50-man Battle Royal

The Undertaker beat Goldberg

While you're here

Joyce Karam: Chaotic first debate unlikely to swing undecideds

Hussein Ibish: Donald Trump's 3-step plan to cling to power

Sulaiman Hakemy: Make America lose again

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

While you're here

Lokman Slim – the assassination of a most elegant critic

Saudi Arabia welcomes US President Joe Biden's speech

Yemen takes centre stage as Biden’s Middle East priority

Whiile you're here

Damien McElroy: Anti-science attitudes in America are proving lethal

Editorial: What makes the UAE such a good place to test vaccines?

Editorial: The fight against Covid-19 should be guided by science

Poacher

%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERichie%20Mehta%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Nimisha%20Sajayan%2C%20Roshan%20Mathew%2C%20Dibyendu%20Bhattacharya%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A