BAGHDAD: Iraqi Vice President Ayad Allawi on Monday warned there could be a “civil war” over the Kurdish-administered city of Kirkuk if talks over Kurdish independence are left unresolved.
Allawi, in an interview with The Associated Press, urged Kurdish leader Masoud Barzani, as well as Iraq’s central government and its Iranian-backed militias, to show restraint and resolve their disputes over the oil-rich city.
Ruling out a military solution to the crisis, Ihssan Al-Shimari, an adviser to Iraqi Prime Minister Haidar Al-Abadi, told Arab News: “Talking about a civil war between Kurds and Arabs is an attempt to pressure both sides — Baghdad and Kurdistan — but the reality on the ground doesn’t indicate any of these expectations.”
Al-Shimari said: “The prime minister has flatly refused to fight Kurdish citizens and still relies on constitutional measures, which offer a wide range of options to the federal government to deal with the crisis.”
He added: “Kirkuk is a disputed area, and according to the constitution its administration has to go back to the Iraqi federal government.”
Kirkuk was included in Iraqi Kurdistan’s independence referendum last month, even though it falls outside the autonomous Kurdish region in the country’s northeast.
The ethnically mixed city has been administered by Kurdish forces since 2014, when the Iraqi military fled a Daesh advance.
The referendum was held despite strong objections from Baghdad, Ankara and Tehran. Barzani has not yet declared independence.
“Iraqis should be left alone to discuss their own problems without interference,” said Allawi. “Kirkuk has become a flashpoint.”
The head of the Asaib Al-Haq militia, Qais Khazali, on Sunday warned that the Kurds were planning to claim much of northern Iraq, including Kirkuk, for an independent state, after they voted for independence in a controversial but non-binding referendum two weeks ago.
He said it would be tantamount to a “foreign occupation,” reported the Afaq TV channel, which is close to the state-sanctioned militia.
Allawi, a former prime minister, said any move by the country’s Popular Mobilization Units (PMUs), which include Asaib Al-Haq, to enter Kirkuk would “damage all possibilities for unifying Iraq” and open the door to “violent conflict.”
He said if the government controls the PMUs, as it claims, it “should restrain them, rather than go into a kind of civil war.” Allawi also urged the Kurdish side “not to take aggressive measures to control these lands.”
Mohammed Naji, a lawmaker and a senior leader of Badr — one of the most prominent Iraqi Shiite militias — told Arab News: “It’s early to pick up the last option (confrontation). The federal government will use all available measures to contain the crisis, and using (military) power to impose federal authority (in Kirkuk) and preserve the unity of Iraqi lands and people will be the last option.”
Naji said: “From the beginning, we’ve said the referendum is unconstitutional. It violates the first item of the Iraqi constitution, and any action that aims to divide Iraq is unacceptable to all Iraqis.”
He added: “Resolving the problem of Kirkuk and the other disputed areas would be according to the constitution, and we can go back to talks (with the Kurds) under the umbrella of the constitution.”
He continued: “We’ve asked both parties (Baghdad and Irbil) to abide by the constitution, but if the Kurdish brothers insist on their stubbornness, this means they want to go with the hardest option, which is confrontation.”
Al-Abadi demanded that the Kurdistan Regional Government annul the referendum result, and called for joint administration of Kirkuk. Baghdad has closed Iraqi Kurdistan’s airspace to international flights.
Turkey and Iran have threatened punitive measures against the Kurdish region, fearing the encouragement of separatist sentiment among their own Kurdish populations.
Iraqi VP warns of ‘civil war’ over Kurdish-held Kirkuk
Iraqi VP warns of ‘civil war’ over Kurdish-held Kirkuk
Lebanese ‘orphaned of their land’ as Israel blows up homes
- Aerial footage shows simultaneous explosions rock a cluster of buildings on a lush hill
- Israeli troops dynamited buildings in at least seven border villages last month
BEIRUT: The news came by video. Law professor Ali Mourad discovered that Israel had dynamited his family’s south Lebanon home only after footage of the operation was sent to his phone.
“A friend from the village sent me the video, telling me to make sure my dad doesn’t see it,” Mourad, 43, said.
“But when he got the news, he stayed strong.”
The aerial footage shows simultaneous explosions rock a cluster of buildings on a lush hill.
Mourad’s home in Aitroun village, less than a kilometer from the border, is seen crumpling in a cloud of grey dust.
His father, an 83-year-old paediatrician, had his medical practice in the building. He had lived there with his family since shortly after Israel’s 22-year occupation of southern Lebanon ended in 2000.
The family fled the region again after the Israel-Hezbollah war erupted on September 23 after a year of cross-border fire that began with the Gaza war.
South Lebanon, a Hezbollah stronghold, has since been pummeled by Israeli strikes.
Hezbollah says it is battling Israeli forces at close range in border villages after a ground invasion began last month.
For the first 20 years of his life, Mourad could not step foot in Aitroun because of the Israeli occupation.
He wants his two children to have “a connection to their land,” but fears the war could upend any remaining ties.
“I fear my children will be orphaned of their land, as I was in the past,” he said.
“Returning is my right, a duty in my ancestors’ memory, and for the future of my children.”
According to Lebanon’s official National News Agency, Israeli troops dynamited buildings in at least seven border villages last month.
Israel’s Channel 12 broadcast footage appearing to show one of its presenters blow up a building while embedded with soldiers in the village of Aita Al-Shaab.
On October 26, the NNA said Israel “blew up and destroyed houses... in the village of Odaisseh.”
That day, Israel’s military said 400 tons of explosives detonated in a Hezbollah tunnel, which it said was more than 1.5 kilometers (around a mile) long.
It is in Odaisseh that Lubnan Baalbaki fears he may have lost the mausoleum where his mother and father, the late painter Abdel-Hamid Baalbaki, are buried.
Their tomb is in the garden of their home, which was levelled in the blasts.
Baalbaki, 43, bought satellite images to keep an eye on the house which had been designed by his father, in polished white stone and clay tiles.
But videos circulating online later showed it had been blown up.
Lubnan has not yet found out whether the mausoleum was also damaged, adding that this was his “greatest fear.”
It would be like his parents “dying for a second time,” he said.
His Odaisseh home had a 2,000-book library and around 20 original artworks, including paintings by his father, he said.
His father had spent his life savings from his job as a university professor to build the home.
The family had preserved “his desk, his palettes, his brushes, just as he left them before he died,” Baalbaki said.
A painting he had been working on was still on an easel.
Losing the house filled him with “so much sadness” because “it was a project we’d grown up with since childhood that greatly influenced us, pushing us to embrace art and the love of beauty.”
Lebanon’s National Human Rights Commission has said “the ongoing destruction campaign carried out by the Israeli army in southern Lebanon is a war crime.”
Between October 2023 and October 2024, locations “were wantonly and systematically destroyed in at least eight Lebanese villages,” it said, basing its findings on satellite images and videos shared on social media by Israeli soldiers.
Israel’s military used “air strikes, bulldozers, and manually controlled explosions” to level entire neighborhoods — homes, schools, mosques, churches, shrines, and archaeological sites, the commission said.
Lebanese rights group Legal Agenda said blasts in Mhaibib “destroyed the bulk” of the hilltop village, “including at least 92 buildings of civilian homes and facilities.”
“You can’t blow up an entire village because you have a military target,” said Hussein Chaabane, an investigative journalist with the group.
International law “prohibits attacking civilian objects,” he said.
Should civilian objects be targeted, “the principle of proportionality should be respected, and here it is being violated.”
Startup Wrap – Saudi VCs pour capital into ventures through strategic investments
RIYADH: Saudi venture capital firms are fueling regional innovation through substantial investments and new initiatives.
Aramco Ventures led New York-based industrial internet-of-things monitoring and communications startup Andium’s $21.7 million series B funding round.
Existing backers, including Climate Investment, Intrepid Financial Partners, and individual investors such as former Citadel Chief Investment Officer Thomas Miglis, also participated. The investment brings Andium’s total funding to over $40 million, following its $15 million series A round in 2021.
The newly secured funds will enable Andium to accelerate its global expansion, scale operations in oil and gas regions in the US and the Middle East, reduce technology costs, and bolster its research and development initiatives.
Wa’ed Ventures allocates $100m for early-stage AI investments
Saudi Aramco’s $500-million financial capital arm Wa’ed Ventures has earmarked $100 million for early-stage artificial intelligence investments. This initiative is part of efforts to position Saudi Arabia as a global leader in the technology, aligning with the Kingdom’s strategic development goals.
The deployment of the fund will be overseen by an advisory board comprising experts from prominent global institutions such as Meta, the Massachusetts Institute of Technology, Oxford University, and Amazon.
A report by PwC projects that artificial intelligence could contribute $135 billion to Saudi Arabia’s economy by 2030, amounting to 12 percent of the country’s gross domestic product.
Wa’ed Ventures has recently invested in Korea’s Rebellions and US-based AiXplain as part of its investment strategy.
Beta Lab launches with $300m to foster deeptech innovation
Saudi Arabia’s new deeptech venture studio, Beta Lab, launched with $300 million in capital at the Future Investment Initiative.
The outfit aims to bolster startups and promote cross-border innovation between the Middle East and Southeast Asia.
This strategic initiative is backed by the Saudi Ministry of Investment, the Research, Development, and Innovation Authority, the Hong Kong Science and Technology Parks Corporation, and MDI Ventures by Telkom Indonesia.
Beta Lab is expected to catalyze growth in the deep tech sector through significant investments and collaborative partnerships.
Tharawat Green Exchange secures $450k for sustainability initiatives
Saudi Arabia-based Web3 provider Tharawat Green Exchange has raised $450,000 from Adaverse, a fund dedicated to Web3 and blockchain investments.
Founded in 2023 by Yakeen Al-Zaki, Hassan Al-Redha, and Yasser Al-Obaidan, Tharawat Green Exchange focuses on leveraging blockchain technology for environmental sustainability, aligning with Saudi Vision 2030.
The capital will support infrastructure and blockchain development, enhance sales and marketing, and help secure Vera certification for Tharawat Green Exchange’s carbon credits.
BIM Capital established to boost Middle East investment
Saudi-based BIM Ventures and Japan’s SBI Holding have launched BIM Capital, a joint venture to stimulate investment opportunities in Saudi Arabia and the wider Middle East.
The new organization will focus on private equity, venture capital, debt funds, and real estate investments.
With a target of drawing more than $200 million in foreign direct investment, BIM Capital aims to manage assets worth over $2 billion.
The joint venture seeks to leverage both firms’ expertise to accelerate regional growth and innovation.
ARKTECH raises $1m in pre-seed funding
Saudi proptech company ARKTECH has successfully closed a $1 million pre-seed investment round, led by Core Vision Investment.
Established in 2023 by Waheed Al-Jassas, ARKTECH specializes in utility contract trading to enhance real estate investment returns.
The funding will strengthen the company’s leadership in the property technology sector and support the development of new tech-enabled investment solutions.
Nabt secures $1.5m seed round for B2B marketplace
Saudi foodtech startup Nabt has raised $1.5 million in a seed funding round led by Merak Capital, with additional backing from angel investors.
Launched in 2022 by Abdullah Al-Otaibi, Nabt runs a business-to-business marketplace that directly connects farmers with businesses.
The funding will be used to accelerate product development and expand Nabt’s market presence.
The company is part of the Sunbolah FoodTech Accelerator, an initiative by Saudi Arabia’s Ministry of Environment, Water, and Agriculture to promote innovation in the agricultural sector.
ISSF invests $5m in Rua Growth Fund
Jordan’s Innovative Startups and Small and Medium Enterprises Fund has invested $5 million in Rua Growth I LP, a $45-million Saudi Arabia-based venture capital fund focused on early-stage investments in e-commerce, financial technology, enterprise solutions, and software as a service.
This investment aims to leverage Jordan’s robust startup ecosystem and foster innovation, enhancing the competitive edge of local startups in regional markets.
Tadarab expands into Saudi Arabia amid rising demand
Kuwait-based education technology platform Tadarab has expanded operations into Saudi Arabia as part of its strategy to address the growing need for online education solutions in the region.
Founded in 2016 by Zaid Al-Luhaib and Salma Al-Yassin, Tadarab offers courses that support personal and professional development across the Middle East and North Africa region.
The expansion aims to tailor Tadarab’s educational solutions to meet the diverse demands of Saudi learners, benefiting both individuals and corporate clients.
Pass secures $2.7m to expand into Egypt and Saudi Arabia
Qatar-based delivery service app Pass has raised $2.7 million in a pre-series A funding round from undisclosed investors.
Initially launched by the UK’s Peyk in 2020 and later acquired by local entrepreneur Bashar Jaber in 2023, the newly acquired funding will support Pass’s expansion into Egypt and Saudi Arabia and facilitate the development of new products to enhance its market position.
Colis.ma closes $300k pre-seed funding
Morocco’s logistics startup Colis.ma has secured $300,000 in pre-seed funding from Witamax.
Founded in 2022 by Issam Darui, Colis.ma focuses on cross-border logistics services for individuals and small and medium-sized enterprises, aiming to bridge African and European markets.
The funds will be used to strengthen Colis.ma’s operations in Morocco’s five largest regions and expand into six major European countries, with plans for further growth into West Africa.
Pargo expands into Egypt with $4m funding
South African e-commerce logistics startup Pargo has entered the Egyptian market after raising $4 million from 3Capital Ventures, Endeavor, SAAD Investment Holdings, and UW Ventures.
Launched in 2014 by Derk Hoekert and Lars Veul, Pargo provides innovative delivery solutions tailored for the e-commerce sector.
The expansion includes the rollout of collection and return service points across Egypt to support e-commerce growth.
Pakistan October CPI up 7.2% y/y, statistics bureau says
- The reading reinforced a month of easing inflation which hit a historic high of 38% last year
- The central bank is expected to cut its key interest rate further at its meeting on Monday
KARACHI: Pakistan’s annual consumer price index inflation rate was 7.2% in October, the Pakistan Bureau of Statistics said on Friday, up from 6.9% the preceding month.
The reading reinforced a month of easing inflation — which hit a historic high of 38% last year, and was at 26.8% October 2023 — ahead of a meeting of the country’s central bank next week to review the policy rate, which stands at 17.5%.
A Reuters poll showed the central bank is expected to cut its key interest rate further at the meeting on Monday, with policymakers continuing their efforts to revive a fragile economy as inflation eases.
The October reading was up 1.2% month on month, the statistics bureau said, adding that the fiscal year’s average inflation, from July to October, stands at 8.7%, which is below the 9.5% projected by the International Monetary Fund.
Netflix releases teaser for documentary series on Saudi Pro League
- ‘Saudi Pro League: Kickoff’ will be released on Nov. 21
RIYADH: Netflix will launch its latest sports doc series, “Saudi Pro League: Kickoff,” on Nov. 21, the streaming platform revealed in a short teaser.
The docuseries will take football fans behind the scenes of a league with the ambition to become one of the top leagues in the world.
The six-episode series, produced by Whisper, delves into the journey of five Saudi football clubs, Al Nassr, Al Hilal, Al Ittihad, Al Ahli and Al Etiffaq, as they compete to be crowned Saudi Pro League champions.
Well-known international players such as Cristiano Ronaldo (Al-Nassr), Neymar (Al-Hilal), Karim Benzema (Al-Ittihad) and Ettifaq coach Steven Gerrard, as well as great Saudi players such as Salem Al-Dawsari (Al-Hilal), Feras Al-Buraikan (Al-Ahli), Talal Haji (Al-Ittihad), and Abdulrahman Ghareeb (Al-Nassr), all make appearances, describing their journeys, challenges, failures and triumphs throughout the 2023-2024 season.
Beyond the pitch, fans will witness the Saudi Pro League’s vision of transformation unfold, as international legends join the league and make a profound impact on the clubs, the competition and the Saudi football stars.
Featuring exclusive interviews from some of the world’s best players, managers and commentators, along with in-depth stories and highlights from the campaign, the series will offer fans backstage access to the developments shaping the future of the Saudi Pro League.
Pakistan central bank set to deliver fourth consecutive rate cut to revive economy
- All 15 investors and analysts surveyed by Reuters expect the central bank to cut rates next week
- Policymakers continue efforts to revive a fragile economy as inflation eases off recent record highs
KARACHI: Pakistan’s central bank is expected to cut its key interest rate further at its policy meeting on Monday, with policymakers continuing their efforts to revive a fragile economy as inflation eases off recent record highs.
The central bank, the State Bank of Pakistan, has slashed the benchmark policy rate to 17.5% from an all time-high of 22% in three consecutive policy meetings since June, having last reduced it by 200 basis points in September.
All 15 investors and analysts surveyed by Reuters expect the central bank to cut rates next week. Two expect a 150 bps cut, twelve predict a 200 bps reduction, and one forecasts a 250 bps cut.
Economic activity has stabilized since last summer when the country came close to a default before an eleventh hour bailout by the International Monetary Fund (IMF).
The IMF, which in September gave a boost to Pakistan’s struggling economy by approving a long-awaited $7 billion facility, said that the South Asian nation had taken key steps to restore economic stability with consistent policy implementation under the 2023-24 standby arrangement.
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While the economy has started to gradually recover, and inflation has moved sharply down from a multi-decade high of nearly 40% in May 2023, analysts say further rate cuts are needed to bolster growth.
Mustafa Pasha, Chief Investment Officer at Lakson Investments, said rates must drop under 15% and hold below that for six months to have a material impact.
The IMF in its latest October report forecast Pakistan’s gross domestic product growth at 3.2% for the fiscal year ending June 2025, up from 2.4% in fiscal 2024.
The government expects annual inflation to have come in at 6-7% last month and slow further to 5.5-6.5% in November.
However, inflation could pick up again in 2025, driven by electricity and gas tariff hikes under the new $7 billion IMF bailout, and the potential impact of taxes on the retail and wholesale sector proposed in the June budget.
Ahmad Mobeen, senior economist at S&P Global Market Intelligence, said that while lower rates will offer some relief to the manufacturing sector, the benefits may be limited due to “elevated input costs, driven by high electricity and gas tariffs, combined with global supply and shipping constraints.”
The survey responses on Monday’s policy rate decision are listed below:
