As he and his predecessor, Donald Trump, effectively secured their parties’ nominations on Tuesday, US President Joe Biden continues to struggle in polls. And that's despite persistent economic good news and Americans increasingly recognising that their economy is thriving. The most recent results among registered voters show Mr Biden trailing Mr Trump by five percentage points.
Although voters say that Mr Trump’s policies were better for them, it is likely that many have tuned out of politics since the mayhem of January 6, 2021, and have developed a predictable amnesia details of Mr Trump’s record, particularly in the first year of the pandemic. Few have probably registered yet how extreme and unstable Mr Trump appears to have become in the years since.
Undoubtedly, they’ll be reminded and informed of all that soon enough.
It’s far too early for Democrats to start the handwringing to which they seem uncommonly addicted. Still, Mr Biden must steadfastly claim credit for the remarkable US economic comeback and promote his new initiatives to tackle inflation, while also pressing forward with unilateral action on the border and continuing to publicly implore Republican lawmakers to take “yes” for an answer on immigration legislation. In the coming months, he would then have every opportunity to deny Mr Trump access to what should be his two most effective issues: inflation and immigration.
Nonetheless, in addition to recent polling, Republicans are feeling buoyed by two apparently encouraging rulings from the Supreme Court. Many Democrats conversely bemoan the decisions, yet again condemning the Court as hopelessly biased in favour of the former president who appointed three of the six-vote right-wing majority.
Despite this apparent bipartisan consensus, Mr Trump may not actually benefit from either case.
Last week, the Court declined to simply uphold a watertight ruling by the DC circuit appellate court denying Mr Trump’s novel claims of absolute presidential immunity from prosecution, including after leaving office.
The idea is patently absurd: how can the national chief magistrate, the one person sworn to “take care to see that the laws are faithfully executed”, simultaneously be the sole individual empowered to ignore all such laws with complete impunity and unaccountability? What would then compel the president to leave office at all, or abstain from committing crimes, or doing anything whatsoever that he or she finds convenient, useful or even amusing – no matter how outrageous or unlawful?
Many liberals hoped that the Supreme Court wouldn’t entertain such propositions and simply let the unassailable DC court ruling stand, not least because the outcome is inevitable. Many reacted with apoplexy when, instead, the Court announced that it would hear arguments in April, and rule by the end of its term on June 20. The typical Trump delaying tactic worked again, they cried.
Trump will therefore enter the general election campaign as a legally adjudicated insurrectionist as well as liable for sexual abuse
Perhaps. But the Court has set itself a clear timetable. If it rules in late June that presidents may not break the law with permanent impunity, as it surely will, that should free Judge Tanya Chutkan and prosecutor Jack Smith to move expeditiously to put Mr Trump on trial for attempting to remain in power unlawfully by overturning a valid election and launching a failed coup against the US Constitution.
It’s not obvious why either would want to do Mr Trump any special favours by suspending legal processes simply because he’s running for re-election in a system for which he has evident contempt.
Unless Mr Trump comes up with some plausible new objections, the trial is unlikely to be delayed until after the election (and, if he wins, ordered abandoned). Instead, there seems to be every possibility that he will stand trial for election subversion in the weeks immediately before voting.
That’s unlikely to bolster his campaign or win many votes among the suburban and swing voters in the six or seven competitive “purple” states that will decide the outcome in November. The Court probably did indeed provide Mr Trump a delay, but not necessarily one that’s going to end up helping him get re-elected.
The second decision, on Monday, was – also probably incorrectly – again greeted on both sides as a big win for Mr Trump. The Supreme Court held that courts in Colorado misread the 14th amendment when they held that, as an insurrectionist, he is ineligible to regain federal office and should be removed from the state’s ballots. The unanimous, though strikingly inconsistent Court opinions weren’t just incompatible. They were often incomprehensible and unintelligible.
The conservative justices, as I predicted in these pages, made no effort whatsoever to uphold their supposed principles and tie their rulings to the amendment’s plain text or history. They merely identified their preferred outcome – a practice they abhor as intolerable when practised by liberals – and declared that only Congress, and not states, can enforce the amendment. There’s nothing whatsoever in the amendment’s language or the historical record supporting that conclusion.
Most glaringly, the two-paragraph concurrence from Judge Amy Coney Barrett appears self-contradictory and garbled, while openly admitting that the Court sought to avoid any politically “divisive” judgment. This is thinly veiled code for deliberately avoiding any ruling on the primary substantive factual finding of the Colorado district court and the Supreme Court: that Mr Trump is an insurrectionist, irrespective of whether the 14th amendment can be applied by states, or is self-executing, or anything else.
That's hardly a great look or much of a win. Not only did the Supreme Court duck the key holding that Mr Trump is an insurrectionist, so did his own attorneys. No one challenged this adjudication, thereby leaving it standing unopposed.
Mr Trump will therefore enter the general election campaign as a legally adjudicated insurrectionist as well as having been found liable for sexual abuse and defamation of the writer E Jean Carroll. Another recently decided New York case establishes him as a legally adjudicated serial fraudster and tax cheat. Among 91 pending felony charges, he faces a looming trial involving hush-money payments to an adult actress.
Mr Biden is old and clearly showing his age. So is Mr Trump, who keeps confusing the current president with Barack Obama, among other glaring mistakes. But only one of the two elderly men with memory lapses is also a legally adjudicated wrongdoer in numerous disturbing cases, and may well be a convicted felon before the election.
Let that sink in. With the American public, it hasn’t yet. But it will.
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Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
If you go
The flights
Emirates flies from Dubai to Funchal via Lisbon, with a connecting flight with Air Portugal. Economy class returns cost from Dh3,845 return including taxes.
The trip
The WalkMe app can be downloaded from the usual sources. If you don’t fancy doing the trip yourself, then Explore offers an eight-day levada trails tour from Dh3,050, not including flights.
The hotel
There isn’t another hotel anywhere in Madeira that matches the history and luxury of the Belmond Reid's Palace in Funchal. Doubles from Dh1,400 per night including taxes.
CONFIRMED%20LINE-UP
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FIGHT%20CARD
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Dubai World Cup nominations
UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer
USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.
Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.
Copa del Rey final
Sevilla v Barcelona, Saturday, 11.30pm (UAE), match on Bein Sports
THE%20SWIMMERS
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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.”
Veere di Wedding
Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania
Verdict: 4 Stars
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
ENGLAND SQUAD
Goalkeepers Henderson, Pickford, Pope.
Defenders Alexander-Arnold, Chilwell, Coady, Dier, Gomez, Keane, Maguire, Maitland-Niles, Mings, Saka, Trippier, Walker.
Midfielders Henderson, Mount, Phillips, Rice, Ward-Prowse, Winks.
Forwards Abraham, Barnes, Calvert-Lewin, Grealish, Ings, Kane, Rashford, Sancho, Sterling.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
START-UPS%20IN%20BATCH%204%20OF%20SANABIL%20500'S%20ACCELERATOR%20PROGRAMME
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The%20specs
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Liverpool's all-time goalscorers
Ian Rush 346
Roger Hunt 285
Mohamed Salah 250
Gordon Hodgson 241
Billy Liddell 228
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
COMPANY%20PROFILE%20
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UAE currency: the story behind the money in your pockets
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
The%20pillars%20of%20the%20Dubai%20Metaverse%20Strategy
%3Cp%3EEncourage%20innovation%20in%20the%20metaverse%20field%20and%20boost%20economic%20contribution%3C%2Fp%3E%0A%3Cp%3EDevelop%20outstanding%20talents%20through%20education%20and%20training%3C%2Fp%3E%0A%3Cp%3EDevelop%20applications%20and%20the%20way%20they%20are%20used%20in%20Dubai's%20government%20institutions%3C%2Fp%3E%0A%3Cp%3EAdopt%2C%20expand%20and%20promote%20secure%20platforms%20globally%3C%2Fp%3E%0A%3Cp%3EDevelop%20the%20infrastructure%20and%20regulations%3C%2Fp%3E%0A
