DAMASCUS // Relations between Baghdad and Damascus have fallen to a new low after fresh allegations claiming Syrian complicity in bombings were aired on Iraqi state-run television.
The damage to ties between the Iraqi prime minister, Nouri al Maliki, and his Syrian counterpart, the president, Bashar al Assad, is now "permanent", Syrian and Iraqi politicians and analysts have warned.
"If Maliki is re-elected as Iraq's leader, his relations with Syria will never be warm," said Mohammad Ghrawi, the Islamic Supreme Council of Iraq's (ISCI) chief representative in Syria. "There is always hope that things will improve and that the two countries can function together on an official basis. But they will never be close, personal relations."
On August 18, Mr al Maliki met with Mr Assad in Damascus to conclude a strategic partnership between Syria and Iraq, a deal that promised a new era of co-operation. The following day two huge explosions devastated government buildings in Baghdad, killing more than 100 people and wounding 1,000 others. Almost immediately, Iraqi officials publicly blamed Syria for hosting the insurgents behind the attack.
Iraq withdrew its recently appointed ambassador to Damascus, and Syria responded in kind. Baghdad then went even further and called on the United Nations to set up a tribunal to investigate the case.
In consequence, the situation was already extremely tense when, on Sunday, Iraqi officials said suspects behind a more recent double suicide bombing originated in Syria. The blasts on October 25 targeted Iraq's ministry of justice, killing 160 and wounding more than 500, a death toll that made it the worst single incident in two years.
Iraqi television showed confessions of three men it claimed participated in the attack. The government spokesman Ali al Dabbagh said the insurgent cell "came from Syria". "We have proof that condemns all those who justify terrorist acts from groups based in Syria," he said, although he insisted that did not mean Iraq was accusing the Syrian authorities of orchestrating the blasts.
Damascus, which has condemned the attacks as terrorist outrages, has denied sheltering anti-Iraqi government insurgents and has promised it would assist in any formal investigation into allegations against Iraqis on its soil. No evidence has been handed over support the claims however, according to Syrian officials.
The crisis, its subsequent escalation and continued handling by the Iraqi government, has confounded observers here.
"Our position was and is that if there is involvement of Iraqis based in Syria, that is no reason to destroy our ties," said Mr Ghrawi of ISCI. "On the contrary, that is the time for co-operation. I would have expected the prime minister [Mr al Maliki] to send a delegation with evidence, there should be face to face talks, not this talking through the media which is never constructive."
The head of an Iraqi political office in Syria, speaking on condition of anonymity because of his group's close relationship with Mr al Maliki's Dawa party, said the continued claims against Damascus were driven by domestic political concerns.
"I'm an Iraqi so I know not to trust any confessions that are shown on the television," he said. "There is talk of Baathists, of al Qa'eda, of a Saudi connection but there are no details, just vague assertions, just rumour.
"In truth, the bombs hit Maliki's standing hard. He was gambling everything on security and then this happened, it showed holes in the Iraqi security forces, it showed that despite improvements we cannot say there is stability or security. That undermined his position. He saw this [blaming Syria] as a way of reasserting himself."
Apparently the scale and speed with which the diplomatic row developed caught even the Iraqi ambassador to Syria, Ala al Jawadi, unawares. According to one of his colleagues, Mr al Jawadi learnt of his withdrawal from Damascus when it was announced on a television news show.
"To say we are surprised at this very sudden and public escalation is an understatement," said Jasim Mohammad Zakaria, a professor of international law at Damascus University. "Syria wants to have a healthy strategic relationship with Iraq and we make decisions with that in mind, not on some short term basis.
"This problem is something that will be overcome as long as the Iraqis do not continue to invest in the issue. The ball is in their court. Syria wants a good relationship with Iraq, it is up to Iraq to decide it if shares that view."
In blaming members of Saddam Hussein's Baath party, Mr al Maliki may have undercut efforts to bring more moderate Baathists back into the political fold, a process of reconciliation widely seen as essential if Iraq is to move beyond a state of conflict.
With his government's allegations against Syria, the Iraqi prime minister has also antagonised a neighbour long accused of fuelling the insurgency, a claim Damascus denies. The tension between Damascus and Baghdad has an added personal twist because Mr al Maliki once lived in Syria, where he and other wanted members of the Dawa party were given protection from Saddam Hussein.
Since the 2003 invasion, Syria has opened its doors to hundreds of thousands of Iraqi refugees who have fled the violence at home - among them former regime members - and insists it will not force this new generation of political exiles to return.
"Maliki was supported by Syria, the Syrians had come to view him as positive and was even their preferred candidate in the election," said Fadhil al Rubaiee, an Iraqi based in Damascus with close connections to exiled Baathists. "Maliki was under pressure from Iran and America and domestically was in difficulty. He saw this as a way out and it wasn't.
"He has now played a card against Syria, for regional and domestic reasons, and it was a big mistake. Today Syria isn't with al Maliki."
Before the crisis spiralled out of control, Damascus had high hopes for its relationship with Baghdad, including lucrative energy deals to transport Iraqi oil and gas through Syria en route to Europe. Those deals, critical as Damascus tries to plug a $50 billion dollar (Dh184bn) investment hole, are now in jeopardy.
"If Iraqi oil comes to Syria, there will be no problems," Sufian al Allaw, Syria's minister of petroleum and mineral resources, said in a recent interview. "Co-operation with Iraq is essential and we are hoping for this."
@Email:psands@thenational.ae
The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
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Engine: 6.75-litre twin-turbocharged V12 petrol engine
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The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
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COMPANY%20PROFILE
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The Written World: How Literature Shaped History
Martin Puchner
Granta
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Zayed Sustainability Prize
COMPANY%20PROFILE
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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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