Fani T Willis, the district attorney for Fulton County, Georgia, has been making significant progress in her sweeping racketeering case against former US president Donald Trump and 19 co-defendants. She has rapidly secured plea deals and binding pledges of co-operation from key defendants, including former Trump attorneys Kenneth Chesebro, Jenna Ellis and Sidney Powell, as well as Atlanta bail bondsman Scott Hall. More central defendants such as campaign attorney Rudy Giuliani and Mr Trump must be squirming.
Ms Willis's racketeering case is structured like a pyramid with marginal figures such as Mr Hall at the bottom and Mr Trump at the apex. Plea deals with less prominent defendants secure testimony against more senior figures. The idea is to begin at the base and work up to the very top of the alleged racketeering structure. That Ms Willis has already "flipped" some significant defendants suggests she knows what she's doing.
Fragments of their confidential depositions have been leaked to the media. Ms Ellis, for example, testified that Mr Trump's then-deputy chief of staff Dan Scavino – a key aide who long managed his social media presence – responded to her observation that they were quickly running out of legal options to block Joe Biden's victory from being formally confirmed by excitedly insisting, “Well, we don’t care, and we’re not going to leave.” She said she understood that to mean that Mr Trump and his inner circle were determined to ignore the election results and the law and simply stay in power even if they lost cases and ran out of legal arguments.
This testimony may prove to be more appalling than an evidentiary bombshell. It could well be excluded from the trial on the reasonable grounds that it constitutes hearsay, and, if it is allowed, Mr Trump's attorneys will undoubtedly argue that whatever Ms Ellis thought Mr Scavino was trying to say, the only relevant fact is that Mr Trump did, in fact, leave the White House, albeit without conceding defeat. However, it indicates the kind of testimony that can pile up against more significant defendants when less central figures decide to protect themselves by revealing the truth under oath.
Perhaps more significantly, Mr Chesebro testified that he personally briefed Mr Trump about a legal memo outlining a plan for Republican-dominated legislatures in states won by Mr Biden to organise "fake" electors who would seek to fraudulently cast votes for Mr Trump in the electoral college (which technically elects the US president), thereby nullifying and reversing the outcome of the election and unlawfully keeping him in power. This may be one of the strongest pieces of evidence yet that Mr Trump was well aware of the unlawful "fake electors" scheme that his campaign and supporters were pursuing to try to negate the election results.
Trump's attorneys will argue the only relevant fact is that he did, in fact, leave the White House, albeit without conceding defeat
In Mr Trump’s favour, however, both Ms Ellis and Ms Powell say they believe he had somehow convinced himself that he had, in fact, won the election and was the target of a gigantic election fraud conspiracy. His state of mind and beliefs could be significant in determining his guilt on the charges that centre on intent to break the law, such as those arising from his notorious telephone call to Georgia Secretary of State Brad Raffensperger. Mr Trump demanded that he "find" 11,780 extra votes for him in the state, exactly the number he needed to reverse Mr Biden's Georgia victory. Mr Trump even appeared to threaten Mr Raffensperger with unspecified criminal exposure, seemingly suggesting that he might face prosecution if he failed to manufacture precisely this number of non-existent votes.
This case is likely to hinge on whether it is a violation of Georgia criminal law – and by implication, more broadly, law throughout the US – for politicians and officials to conspire to overthrow a legitimate election result, thereby undoing the US constitutional system, under the cover of merely giving and receiving legitimate legal advice. The defence in this case for both Mr Trump and these attorneys may ultimately come down to the question of whether it is criminal to use legal manoeuvring – in contrast to the more obviously unlawful violent assault on Congress on January 6 that sought to block the formal confirmation of Mr Biden's victory in the popular vote and in the electoral college – to attack the most fundamental elements of the US constitutional system: free and fair elections and the peaceful transfer of power.
As Charles Burnham, an attorney for law professor John Eastman, the main author of the "fake electors" scheme, argued: “Professor Eastman has no problem with Greg Jacob, Ken Chesebro or anyone else disagreeing with his arguments. The whole point of this case is that legal disagreements on unsettled questions of constitutional law should not be criminalised.”
To put it in layman's terms, that means this wasn't an attempted coup at all, it was just a question of conflicting legitimate legal opinions. And, therefore, it would be absurd and outrageous to criminalise the giving and receiving of legal advice. These are indeed "unsettled questions of constitutional law" largely because no previous president has had the temerity of attempting a legal coup.
Both Ms Powell and Ms Ellis acknowledged that Mr Trump was relying on their highly dubious advice because, unlike virtually all government and Trump campaign attorneys who unanimously insisted that he needed to accept his defeat, they were telling him what he wanted to hear: that he could somehow remain in power and nullify his defeat through brazen legal manoeuvres.
The argument that it's all just a matter of conflicting legal opinions is clever and seemingly plausible, but if the US Constitution cannot protect itself from subversion through conspiracies of legal chicanery, just as much as from threats posed by violent uprisings, it is a fatally weak and fundamentally incoherent document.
Ms Willis says the Georgia trial will not conclude until at least early in 2025, well after the November election. But what's most significant about her case, as opposed to analogous federal prosecutions being led by Jack Smith, is that neither Mr Trump nor any Republican president, if they win, could interfere with this state trial or undo any sentence.
If Ms Willis can continue to get Mr Trump's co-defendants to fall like dominoes, each knocking down the next, their testimony – combined with existing damning evidence such as the recording of the Raffensperger phone call – she may have created the one serious criminal prosecution which affords Mr Trump no strong defence and no way out.
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.”
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
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The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
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Singham Again
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Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
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Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
PFA Premier League team of 2018-19
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now