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What’s behind Iraq’s explosive political crisis?

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What’s behind Iraq’s explosive political crisis?

In a present of energy, supporters of Shiite cleric Sadr final week twice stormed Baghdad’s closely fortified Inexperienced Zone — which homes authorities buildings and Western embassies — and on Sunday staged a protracted sit-in inside parliament.

Whereas Sadr’s supporters are rallying towards the nomination of a brand new prime minister, these protests additionally characterize a deep political rift festering between Iraq’s rival Shiite blocs and the influential hand that analysts say Iran is enjoying from afar.

“Iran can be a celebration on this battle,” mentioned Ihsan Al-Shammari, a politics professor at Baghdad College and head of the Iraqi Centre for Political Thought.

“And Sadr is conscious that Iran may very well be what pushes the Coordination Framework to attempt to inflate its affect within the political scene in Iraq,” he added.

A Shiite bloc that’s aligned with Iran and against Sadr, the Coordination Framework consists of politicians with ties to Tehran, together with former prime minister Nouri al-Maliki. It additionally consists of paramilitary teams which might be closely armed by Iran.

The most recent turmoil follows 9 months of political impasse, bickering and accusations which have hindered the formation of a authorities after Sadr emerged as the largest winner in October’s parliamentary election.

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Sadr’s win threatened to sideline the Iran-aligned Shiite blocs which have dominated Iraqi politics for many years.

In what was described as a ‘tectonic shift’ in Iraqi politics, Sadr in June requested his political bloc to resign from parliament after failing to cooperate with opposing blocs. The transfer confirmed Sadr’s true energy: his means to mobilize supporters on the streets in giant numbers and with nice drive.

In a probably escalatory transfer, the Coordination Framework on Sunday referred to as for protesters to additionally take to the streets on Monday.

“Iraq’s political system is getting ready to irreparable collapse and the nation is headed towards a civil battle between Sadr and his Iran-aligned rivals,” mentioned Ranj Alaaldin, nonresident fellow within the International Coverage program on the Brookings Establishment, a suppose tank in Washington, DC.

Talking at a weekly press convention, Iranian overseas ministry spokesman Nasser Kanaani mentioned that the scenario in Iraq was attributable to inside political disputes, reported the state information company IRNA on Monday. Kanaani’s feedback appeared to dismiss the hypothesis round Tehran’s function in Baghdad’s present disaster.

Whereas some specialists say that the present political stalemate is deeply entrenched within the degree of affect Iran has over its neighbor, others don’t imagine Iran drives the battle.

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“I feel the motives for this battle are primarily inside and never the divisions about Iran,” mentioned Mohammed Shummary, chairman of Sumeria Basis in Baghdad.

“There are transformations going down inside Iraqi politics and rising ambitions from totally different events who want to consolidate energy,” Shummary mentioned, including that accusations of hyperlinks with Iran have turn into a device — primarily utilized by non-Iran-aligned blocs — to discredit their rivals.

Whereas Sadr has for years positioned himself towards each Iran and the USA, the favored cleric has not all the time held a constant place towards Tehran.

As soon as a fugitive from US forces that sought to arrest him in Iraq, Sadr was believed to have been hiding in Iran from 2007. He returned to Iraq in 2011 after hanging a take care of the Iraqi authorities in energy on the time.
Iraq's most powerful politician has just caused a 'tectonic shift'

When protesters first stormed parliament on Wednesday, they have been denouncing the nomination of Mohammed Shiya al-Sudani for prime minister — a determine put forth by the Coordination Framework and who many see as an ally of Iran-aligned Maliki.

However the actual issues go far past al-Sudani’s nomination, says Al-Shammari, who added that discontent is primarily centered round what’s perceived as Iran-aligned Shiite blocs’ makes an attempt to isolate Sadr and exclude him from politics.

In a statement on Twitter, Sadr referred to as on politicians to hearken to protesters’ calls for, saying there may be now a “golden alternative to finish corruption and injustice.”

Sadr warned if the protesters’ calls for usually are not met, then he isn’t responsible for the chaos that follows.

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“The present revolution is Sadrist,” he wrote on Twitter. “In case you miss this chance, don’t blame me.”

Regardless of efforts to chill off the tensions, Alaaldin believes that it will likely be troublesome to see Sadr retreating “until he’s given the federal government he initially needed.”

“This stays the longest political impasse [in Iraq] since 2003,” mentioned Al-Shammari, including that even whether it is resolved, it’s unlikely to be the final disaster to face the oil-rich nation.

“The political system faces nice paralysis,” he mentioned, warning that “reaching a second of collision would point out that this rift has reached unprecedented ranges.”

The digest

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First ship carrying Ukrainian corn heading for Lebanon

The primary grain ship departing the Black Sea port of Odesa because the early days of the Ukraine battle will carry Ukrainian corn to Lebanon, Turkish Protection Minister Hulusi Akar mentioned on Monday.

  • Background: Talking in an interview with Turkey’s state-owned Anadolu information company, Akar mentioned the vessel, the primary to depart underneath a UN-brokered export deal, will anchor off the coast of Istanbul at round 15:00 Istanbul time on Tuesday. The Joint Coordination Centre, which is overseeing the export of Ukrainian grain, will then examine the ship. It’s carrying over 26,000 metric tons of corn, Akar added. Following inspection, it would proceed to its last vacation spot in Tripoli, Lebanon.
  • Why it issues: Battered by an financial disaster, the lethal 2020 Beirut blast and the burden of the Covid-19 pandemic, Lebanon has this yr seen a 46% rise within the variety of individuals in pressing want of help, mentioned the UN. Earlier than Russia’s invasion, Lebanon relied on Ukraine for greater than half of its wheat imports.

Demise toll from Iran floods climbs

At the least 69 individuals have been killed after flooding and landslides broken cities throughout Iran, the Iranian Crimson Crescent mentioned in a tweet on Friday.

  • Background: At the least 45 individuals are nonetheless lacking in Tehran and three different provinces, in line with Nezhad Jahani, a deputy with Iran’s deputy of disaster administration group. Jahani additionally mentioned round 20,000 houses have been broken through the current flooding. Iran has been battling heavy rains, lethal floods and mudslides for 2 weeks. The Crimson Crescent mentioned that injury within the southern Fars province was attributable to flooding from a dam on the Rodbal River close to the town of Estahban.
  • Why it issues: A examine into the consequences of local weather change on Iran discovered that the intense moist and dry durations have gotten extra frequent, and that there are extra prolonged durations of extraordinarily scorching temperatures and better frequency of floods throughout the nation. In 2019, greater than 70 individuals died in Iran due to flooding following report rainfalls.

Iran responds to EU proposal to salvage nuclear deal

Iran’s deputy overseas minister Ali Bagheri Kani mentioned Sunday that Tehran had responded to an EU proposal to revitalize the 2015 nuclear deal amid reviews of Iran’s speedy progress in its nuclear program.

  • Background: Final week, the EU’s overseas affairs chief Josep Borrell mentioned that he had proposed a brand new draft textual content to revitalize the nuclear deal, formally often known as the Joint Complete Plan of Motion (JCPOA). “We shared our proposed concepts, each on substance & type, to pave the way in which for a swift conclusion of Vienna negotiations which have been aimed toward fixing the damaging difficult scenario attributable to the U.S. unilateral & illegal withdrawal,” Kani said on Twitter. The minister didn’t present particulars on Iran’s proposed concepts.
  • Why it issues: Iran is at present enriching uranium properly above the three.67% restrict set underneath the nuclear deal. As talks proceed to stall, Mohammed Eslami, head of the nation’s atomic vitality company, on Monday reiterated the feedback made by senior advisor to the Supreme chief Kamal Kharrazi in July, saying: “As Mr. Kharrazi talked about, Iran has the technical means to construct an atomic bomb, however such a program isn’t on the agenda.”

CNN investigates

1000’s of protesters rallied within the Sudanese capital Khartoum on Sunday calling for an finish to army rule, following a CNN investigation that uncovered Russia’s plundering of gold within the African nation.

Clashes erupted after tons of of demonstrators tried to go to the Republican Palace — Sudan’s presidential workplaces — however have been met by police, who responded by firing tear gasoline on the protesters.

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The protests come after a CNN investigation, primarily based on a number of interviews with high-level Sudanese and US officers and troves of paperwork reviewed by CNN, painted an image of an elaborate years-long Russian scheme to extract Sudan’s riches in a bid to fortify Russia towards more and more strong Western sanctions and buttress Moscow’s battle effort in Ukraine.

The proof uncovered by CNN additionally means that Russia has colluded with Sudan’s army management, enabling billions of {dollars} in gold to bypass the Sudanese state and depriving the poverty-stricken nation of tons of of hundreds of thousands in state income.

The investigation was shared extensively in Sudan and induced public outcry. Hours after the report was broadcast, posts started circulating on WhatsApp and different social media platforms utilized by pro-democracy activists.

By Nima Elbagir, CNN

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An aerial picture shows the heavily damaged grain silos at the port of the Lebanese capital Beirut, on July 31.

Lebanon: #Beirut_Port

4 days earlier than the second anniversary of the lethal Beirut blast on August 4, the town’s port was trending on Lebanese social media for a distinct motive.

Two wheat silos within the port collapsed on Sunday. The buildings, which withstood the consequences of the large explosion in 2020, have been smoldering and burning for weeks, filling elements of Lebanon’s capital with the scent of smoke.

The flames have been attributable to rising temperatures within the nation.

In keeping with state media, the half that collapsed was essentially the most fragile because the blast and was anticipated to fall.

This was confirmed by Ali Hamye, Lebanon’s minister of Public Works and Transport, who instructed Al Jadeed TV that the 2 silos collapsed, and different silos are additionally anticipated to collapse.

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The 2020 explosion took the lives of greater than 200 individuals and injured over 6,500 others. The shockwaves tore via the town, flipping vehicles, shattering glass and inflicting some houses to crumble.

The explosion was attributable to 2,750 metric tons of ammonium nitrate, a extremely explosive materials, saved within the port with out preventative measures, in line with then Prime Minister Hassan Diab.

Lebanon’s financial woes have been no stranger to headlines, however its fee of decline has been exponential within the final two years. Its inflation fee stood at 210% in June, with forex charges altering drastically by the day.

By Mohammed Abdelbary

Picture of the day

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Laborers drape a new kiswa, the protective cloth made of black silk and gold thread, around the Kaaba, in the holy city of Mecca, Saudi Arabia, on July 30.

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Insurers braced for losses as Hurricane Beryl breaks records

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Insurers braced for losses as Hurricane Beryl breaks records

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Insurers are bracing themselves for large losses from the Atlantic hurricane season as record-breaking Hurricane Beryl fuels fears that warming oceans will lead to more destructive storms.

Beryl, which is expected to hit Jamaica on Wednesday, became the first Atlantic hurricane this early in the year to develop into a category five storm, the most severe.

Its magnitude and arrival so early in the region’s hurricane season, which starts in June, peaks in August and September and runs until November, has already hit shares of some insurers and reinsurers.

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“It’s being felt that we are overdue for a bad season,” Stephen Catlin, executive chair at insurer Convex and a veteran of the insurance market, told the Financial Times. “Having an early hurricane of this magnitude suggests that might be the case.”

A variety of factors contribute to the intensity of hurricanes, but climate scientists have highlighted the effects of warming oceans and rising sea levels. The head of the UN’s climate arm said climate change was “pushing disasters to record-breaking new levels of destruction”.

Meteorologists at AccuWeather said the storm could bring “significant flooding, coastal inundation, and wind damage” to Jamaica, after it caused widespread damage in Grenada and St Vincent and the Grenadines, and left several people dead. 

The insurance industry was already expecting a busier hurricane season after a quieter 2023. In May, the US National Oceanic and Atmospheric Administration warned that there was an 85 per cent higher chance of an above-average Atlantic hurricane season, citing several factors including warmer oceans. 

Steve Bowen, chief science officer at reinsurance broker Gallagher Re, said it was a “remarkable, concerning, and ominous start” to the Atlantic hurricane season and should be a “massive wake-up call” on the outlook for losses.

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Bowen said we were seeing the results of ocean waters that were “as warm in June as they typically should be in September”, which for storms provide “proverbial rocket fuel”.

While any financial losses from Beryl’s impact on Jamaica are expected to be manageable, industry executives said the storm’s future path remained unclear. It has since been downgraded to a category 4 storm.

“It could continue west into Mexico, or curve into the Gulf and then on to the US,” noted analysts at Twelve Capital. Hurricane Harvey in 2017, one of the costliest US storms, struck the Caribbean before heading into the Gulf of Mexico and making landfall at Texas. 

It is too early for reliable estimates of insurance claims, but attention is focused on the Caribbean public-backed risk pools and catastrophe bonds, a form of reinsurance where risks are shared with investors.

Last month, the World Bank renewed its $150mn catastrophe bond covering Jamaica against big named storms, which if triggered would mean some losses for investors.

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How the Atlantic hurricane season unfolds will be critical to the path of prices in the global property reinsurance market, which property insurers use to lay off their risks. Prices have surged in recent years.

Robert Muir-Wood, chief research officer for insurance at rating agency Moody’s, said there was now “every indication this is an intense hurricane season likely to break more records”.
 

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Trump gets edge over Biden nationally and across battlegrounds after debate as Democrats’ turnout in question — CBS News poll

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Trump gets edge over Biden nationally and across battlegrounds after debate as Democrats’ turnout in question — CBS News poll

The race for president has shifted in Donald Trump’s direction following the first 2024 presidential debate.  Trump now has a 3-point edge over President Biden across the battleground states collectively, and a 2-point edge nationally.

A big factor here is motivation, not just persuasion: Democrats are not as likely as Republicans to say they will “definitely” vote now. 

Perhaps befitting a race with two well-known candidates and a heavily partisan electorate, over 90% of both Mr. Biden’s and Trump’s supporters say they would never even consider the other candidate, as was the case before the debate, which helps explain why the race has been fairly stable for months. Recall that Mr. Biden had gained a bit back in June, after Trump was convicted of felonies in New York, but that didn’t dramatically alter the race either. 

That said, the preference contest today does imply an Electoral College advantage for Trump. 

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Meanwhile, half of Mr. Biden’s 2020 voters don’t think he should be running this year — and when they don’t think so, they are less likely to say they’ll turn out in 2024, and also more likely to pick someone else, either Trump or a third-party candidate.

Trump, for his part, finds most Republicans feeling bolstered after the debate, saying it made them more likely to vote. And independents remain tightly contested, with Trump narrowly edging up with them now.

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Nationwide, Republicans are more likely than Democrats to say they will definitely turn out in 2024. And Republicans currently have a similarly sized turnout advantage across the battleground states, undergirding Trump’s edge with likely voters there.

When Robert F. Kennedy Jr., Jill Stein and Cornel West are included in a national ballot test, Trump’s national edge over Mr. Biden expands to four points. Kennedy draws roughly equally from both candidates, but Mr. Biden cedes a little more to Stein and West, bringing down his overall percentage. 

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For many voters, both candidates’ ages are a factor, not just Mr. Biden’s. When people see an equivalence there, Mr. Biden benefits: he leads Trump among those who say both.

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The trouble for Mr. Biden is that he trails badly among those for whom only his age is a factor. 

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Immediately following the debate, CBS News’ polling showed increasing numbers of voters believing Mr. Biden did not have the cognitive health for the job and that he should not be running. A large seven in 10 still say he should not be running. (It’s three points fewer now than immediately after the debate, perhaps because the Biden campaign pushed back on the idea, but remains the dominant view among voters, and of a sizable four-in-10 share of Democrats.)

Mr. Biden did not gain any ground on Trump on a number of personal qualities: Trump leads Mr. Biden on being seen as competent, tough, and focused. The president continues to be seen as more compassionate.

CBS News considers the battlegrounds as the states most likely to decide the election in the Electoral College: Arizona, Georgia, Michigan, North Carolina, Nevada, Pennsylvania and Wisconsin.


This CBS News/YouGov survey was conducted with a representative sample of 2,826 registered voters nationwide interviewed between June 28-July 2, 2024. The sample was weighted by gender, age, race, and education, based on the U.S. Census American Community Survey and Current Population Survey, as well as past vote. The margin of error for registered voters is ±2.3 points. Battlegrounds are  AZ GA MI NC NV PA WI. 

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Hawksmoor restaurant chain up for sale

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Hawksmoor restaurant chain up for sale

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Hawksmoor has been put up for sale in a deal that could value the restaurant chain at about £100mn, according to two people familiar with the matter, as it seeks to grow its international footprint.

Investment bank Stephens, which has been hired to run a sales process, has started speaking to potential buyers, the people said. Graphite Capital has owned 51 per cent of Hawksmoor since 2013.

Hawksmoor chief executive and co-founder Will Beckett and another co-founder Huw Gott, who own a minority stake, will retain their shareholding to continue to lead the company, one of the people added.

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Graphite Capital said it did not comment on “market rumour” and Stephens declined to comment.

Hawksmoor did not comment on whether it was up for sale but Beckett said in a statement: “We’ve got a great relationship with Graphite, and together we are getting to know the US investment community in more depth. As that continues, an opportunity may emerge that we wish to explore together.”

Meanwhile, Rare Restaurants, the owner of rival steakhouse Gaucho, is also exploring a sale of the business having appointed Clearwater M&A advisers, two people familiar with the matter said. One person said Rare was yet to start the process, as it was not under financial pressure. Rare Restaurants and Clearwater declined to comment.

London-based Hawksmoor’s sales process comes as the chain, which operates 13 locations, including 10 in the UK, continues expanding abroad having opened in Chicago last week.

It follows Hawksmoor’s debut US site in New York in 2021 and the launch of another venue in Dublin last year.

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The company, which opened its first outlet in 2006 in east London as a place to buy better-quality steak, said last week that sales were expected to top £100mn this year with “consistent like-for-like growth”.

One person close to the company said underlying profits for the 12 months to the end of June were above £10mn, and that it aimed to expand further in the US.

In 2021, Hawksmoor shelved plans for a flotation amid uncertainty in the hospitality industry caused by Covid lockdowns, shortages of labour and supply chain disruption. The chain had been working with Berenberg private bank on the plans.

Despite surging inflation and the cost of living crisis, the UK hospitality industry has witnessed several large deals. Last year, Apollo acquired Wagamama-owner The Restaurant Group for £506mn, while Japanese group Zensho acquired Yo! Sushi owner Snowfox Group for £490mn.

Earlier this year, London-based Equistone Partners sold its stake in catering company CH&CO to the world’s largest catering group Compass in a £475mn deal.

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The exploration of a sale for Hawksmoor comes as private equity groups face pressure to sell some of their record $3tn in unsold assets in order to return cash to their backers.

Global takeovers in the first half of the year climbed 22 per cent by value thanks to a rebound in big deals, but the total number of mergers and acquisitions fell to a four-year low because of a slowdown in smaller transactions.

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