CEDAR RAPIDS, IOWA // Former Massachusetts governor Mitt Romney may have won the inaugural contest to determine who will be Barack Obama’s main challenger in this year’s US presidential elections.
Obama campaign warns of 'extremist' Republicans. Read article
But his victory in the Iowa caucuses by the narrowest of margins - eight votes out of 122,255 ballots cast - shows that his Republican Party is anything but certain about what kind of candidate it wants to challenge Mr Obama in November.
Mr Romney may consider himself to have the advantage, and the millionaire businessman will certainly try to paint himself as the only candidate with broad enough appeal to mount a serious challenge to Mr Obama.
Nevertheless, his hair-breadth’s victory mirrors a party that is hardly united in passion behind him. His appeal appears to lie in the cold-blooded perception that the economy would be safe in his hands were he president.
Rick Santorum, the former Pennsylvania senator, who took a surprising second place in Iowa, will continue to appeal to America’s religious conservative voters as the campaigns move to other states. His focus on family values helped him in Iowa where the evangelical Christian vote is a significant bloc.
But the man who says he wants to bomb Iran’s nuclear facilities if Tehran does not allow international inspectors in, has a lot of catching up to do. His campaign remains small and underfunded, and though he should be able to raise more funds now, he has campaigned little in any other state.
The success of Ron Paul, the Texas libertarian who came in third, suggests foreign policy could prove a significant issue with some Republican voters. Mr Paul advocates closing down US military bases overseas, bringing American soldiers home and ending foreign aid to all countries, including Israel – a deeply controversial position in America.
The Iowa vote may have shed more light on whose dreams to win in November will soon be abandoned. The caucuses are traditionally poor predictors of who will win the nomination, but it does usually winnow out the field, said Lyle Muller, editor of The Cedar Rapid Gazette, Iowa's second-largest daily newspaper.
“In many ways, Iowa is about who has to quit,” Mr Muller said.
Michelle Bachman, a congresswoman from Minnesota and a social conservative who wants to phase out welfare programmes, was the evening’s biggest loser, finishing a distant sixth with just five per cent of the vote.
Yesterday, she announced she would end her campaign, saying she had been inspired to run to repeal the healthcare law passed in 2010, which she called “socialised medicine” that “violates our fundamental liberties as Americans”.
She also denounced it as the “playground for left-wing social engineering”.
Tuesday’s other losers were Newt Gingrich, once the most powerful man in the US House of Representatives, and Rick Perry, the Texas governor, who both fared worse than many predicted in the weeks leading up to the voting. Their poor showing will jeopardize their ability to raise money to pay campaign staff and finance all-important television and radio advertising.
Mr Perry has said he is going home to Texas to consider his position. Mr Gingrich so far remains unbowed, but he has seen his support plummet dramatically in the past weeks, and his campaign remains underfunded.
At the other end, meanwhile, much will now depend on how Republicans in other states look at Mr Romney, Mr Muller said, and if the other candidates will start to “gang up” on him.
“To a large degree, the question now is how soon Republicans will get behind him,” Mr Muller said.
Mr Romney would certainly appear to be the favourite, partly because Mr Santorum is perceived as too conservative and Mr Paul, too much of a maverick to appeal to a broader public.
Mr Romney is expected easily to win next Tuesday’s primary contest in New Hampshire, next door to his longtime home, Massachusetts. That will give him significant momentum as he heads into South Carolina, where the first southern contest of the campaign takes place on January 21.
But Mr Romney is viewed with a great deal of suspicion by evangelical Christians, who have significant presence in South Carolina, because of his Mormon faith.
“People will want an anti-Romney,” said Mr Brent Oleson, a Ron Paul supporter adn member of the board of supervisors that governs Iowa’s Linn County. “Paul has his support, and Santorum will see his profile raised now.”
Mr Paul’s success, Mr Oleson added, also proved not only that the libertarian wing in the Republican party was growing, but the party establishment can no longer ignore those supporting a non-interventionist foreign policy.
Mr Paul believes that government should be as small as possible, and advocates the dismantling of eight federal agencies, including the Department of Commerce and the Department of Education. Mr Paul has been the only candidate who strongly emphasised foreign policy in his campaign. He believes the US shoud minimize its footprint overseas. He was sharply critical of the war in Iraq and does not favour any military strike against Iran.
That platform, along with his determination to dramatically reduce the size of government, has gone down well not only with a deeply loyal support base – in Iowa’s straw poll in August, Mr Paul finished second - but with young people. Mr Paul won 117 of the 179 votes cast at the Iowa Memorial Union on the campus of the University of Iowa.
“Sooner or later the party has to deal with the fact that people are tired of wars and tired of meddling in other countries’ affairs,” said Mr Oleson. “That is the central message of Paul. We are tired of overseas adventures.”
It was a message that also resonated well in Linn County’s 25th precinct on Tuesday night. At the caucus here, 30 of the 116 Republicans who had gathered at the Wright Elementary School gymnasium on the outskirts of Cedar Rapids, Iowa’s second-largest city, voted for Mr Paul, six ahead of Mr Romney.
The result did not suit Steve Schneib, 62, a sales representative for a clothing manufacturer, however. Mr Schneib had arrived too late to cast a vote he said would have gone to Mr Perry.
He acknowledged that Mr Paul had “worked really hard” but was not impressed with Mr Romney and his Mormon faith.
“Mormonism is a problem for evangelicals because we believe the Bible is the word of God. They have introduced the Book of Mormon.”
Still Mr Schneib said, if Mr Romney became the Republican nominee, he would support him. So, he said, would most Republicans.
“They will vote for whoever is nominated. They do not want four more years of Obama.”
okarmi@thenational.ae
COMPANY%20PROFILE
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Results
Men's finals
45kg:Duc Le Hoang (VIE) beat Zolfi Amirhossein (IRI) points 29-28. 48kg: Naruephon Chittra (THA) beat Joseph Vanlalhruaia (IND) TKO round 2.
51kg: Sakchai Chamchit (THA) beat Salam Al Suwaid (IRQ) TKO round 1. 54kg: Veerasak Senanue (THA) beat Huynh Hoang Phi (VIE) 30-25.
57kg: Almaz Sarsembekov (KAZ) beat Tak Chuen Suen (MAC) RSC round 3. 60kg: Yerkanat Ospan (KAZ) beat Ibrahim Bilal (UAE) 30-27.
63.5kg: Abil Galiyev (KAZ) beat Nouredine Samir (UAE) 29-28. 67kg: Narin Wonglakhon (THA) beat Mohammed Mardi (UAE) 29-28.
71kg: Amine El Moatassime (UAE) w/o Shaker Al Tekreeti (IRQ). 75kg: Youssef Abboud (LBN) w/o Ayoob Saki (IRI).
81kg: Ilyass Habibali (UAE) beat Khaled Tarraf (LBN) 29-28. 86kg: Ali Takaloo (IRI) beat Emil Umayev (KAZ) 30-27.
91kg: Hamid Reza Kordabadi (IRI) beat Mohamad Osaily (LBN) RSC round 1. 91-plus kg: Mohammadrezapoor Shirmohammad (IRI) beat Abdulla Hasan (IRQ) 30-27.
Women's finals
45kg: Somruethai Siripathum (THA) beat Ha Huu Huynh (VIE) 30-27. 48kg: Thanawan Thongduang (THA) beat Colleen Saddi (PHI) 30-27.
51kg: Wansawang Srila Or (THA) beat Thuy Phuong Trieu (VIE) 29-28. 54kg: Ruchira Wongsriwo (THA) beat Zeinab Khatoun (LBN) 30-26.
57kg: Sara Idriss (LBN) beat Zahra Nasiri Bargh (IRI) 30-27. 60kg: Kaewrudee Kamtakrapoom (THA) beat Sedigheh Hajivand (IRI) TKO round 2.
63.5kg: Nadiya Moghaddam (IRI) w/o Reem Al Issa (JOR).
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
MATCH INFO
Bangla Tigers 108-5 (10 ovs)
Ingram 37, Rossouw 26, Pretorius 2-10
Deccan Gladiators 109-4 (9.5 ovs)
Watson 41, Devcich 27, Wiese 2-15
Gladiators win by six wickets
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
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)
Company%20Profile
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Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
COMPANY%20PROFILE
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Company%20Profile
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Teenage%20Mutant%20Ninja%20Turtles%3A%20Shredder's%20Revenge
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Company Profile
Company name: Fine Diner
Started: March, 2020
Co-founders: Sami Elayan, Saed Elayan and Zaid Azzouka
Based: Dubai
Industry: Technology and food delivery
Initial investment: Dh75,000
Investor: Dtec Startupbootcamp
Future plan: Looking to raise $400,000
Total sales: Over 1,000 deliveries in three months
COMPANY%20PROFILE
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