Hillary Clinton and Jon Stewart on The Daily Show with Jon Stewart. Frank Franklin II / AP Photo
Hillary Clinton and Jon Stewart on The Daily Show with Jon Stewart. Frank Franklin II / AP Photo
Hillary Clinton and Jon Stewart on The Daily Show with Jon Stewart. Frank Franklin II / AP Photo
Hillary Clinton and Jon Stewart on The Daily Show with Jon Stewart. Frank Franklin II / AP Photo

No hints from Hillary Clinton on The Daily Show


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Hillary Rodham Clinton refused to take the bait on Tuesday while taping Jon Stewart's The Daily Show, offering no clues about whether she will run for president, but acknowledged that the speculation surrounding her possible candidacy has become "a cottage industry". Stewart introduced Clinton by saying: "She's here solely for one reason: to publicly and definitively declare her candidacy for president of the United States ... I think." That proved not to be true. The two moved on to a series of national and international issues Clinton faced as the secretary of state, including the violence and tension between Israel and the Palestinians. Stewart also plugged Clinton's new book, Hard Choices, calling it a "witness view" to her four years as the chief US diplomat. But he kept returning to the 2016 presidential race, joking: "I think I speak for everybody when I say, no one cares [about the book], they just want to know if you're running for president." – AP

Nick and Vanessa Lachey see pink with second baby

Nick and Vanessa Lachey are expecting their second baby, their publicists confirm. The singer and VH1's Big Morning Buzz Live host first made the announcement on his Twitter account on Tuesday, which also marked the couple's third wedding anniversary. He posted a photo of their almost 2-year-old son, Camden, running on a beach with a heart in the sand that says "It's a girl". In an interview last year, the 40-year-old Nick Lachey said once you have a child "everything changes, from the way you drive to the way you think to the way you act". Vanessa Lachey, 33, last had a role on the 2013 Fox sitcom Dads, which was cancelled. – AP

Harper Lee says she didn’t OK new book

The reclusive author of To Kill a Mockingbird, one of the most acclaimed novels of the 20th century, says she never gave her approval to a new memoir that claims to be a rare, intimate look into the lives of the writer and her older sister in small-town Alabama. "Rest assured, as long as I am alive any book purporting to be with my cooperation is a falsehood," Harper Lee said in a letter on Monday, just as the new book, The Mockingbird Next Door: Life With Harper Lee was about to be released. The book was written by Marja Mills, a former Chicago Tribune reporter, who moved next door to Lee and her sister, Alice, in 2004 and remained there for 18 months. Mills responded in a ­statement, saying that Lee, known to her friends as Nelle, and her sister "were aware I was writing this book and my friendship with both of them continued during and after my time in Monroeville. The stories they shared with me that I recount in the book speak for ­themselves". – AP

Films from Middle East at Kerala film festival

The seventh edition of the International Documentary and Short Film Festival of Kerala (IDSFFK), which begins in Thiruvananthapuram tomorrow, includes five films from the Middle East in a specially curated section. A World Not Ours, directed by the Dubai-born Mahdi Fleifel, is a humorous portrait of three generations of a family in the refugee camp of Ain Al Helweh in southern Lebanon. Sherief Elkatsha's Cairo Drive explores one of the world's most populated cities through its traffic and streets. The Egyptian filmmaker Ahmed Nour's documentary Waves is on the Egyptian city of Suez and the 2011 revolution. Birds of September, by the Lebanese director Sarah Francis, explores Beirut, capturing candid moments in people's lives. Mais Darwazah's documentary My Love Awaits Me By the Sea is an essay on her experience as a second-generation Palestinian on a first trip to her homeland. The festival runs until July 22. – IANS

artslife@thenational.ae

UAE currency: the story behind the money in your pockets
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions

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.”

SERIE A FIXTURES

Saturday (All UAE kick-off times)

Cagliari v AC Milan (6pm)

Lazio v Napoli (9pm)

Inter Milan v Atalanta (11.45pm)

Sunday

Udinese v Sassuolo (3.30pm)

Sampdoria v Brescia (6pm)

Fiorentina v SPAL (6pm)

Torino v Bologna (6pm)

Verona v Genoa (9pm)

Roma V Juventus (11.45pm)

Parma v Lecce (11.45pm)

 

 

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

UAE currency: the story behind the money in your pockets
ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

The specs

Engine: 2.9-litre twin-turbo V6

Power: 540hp at 6,500rpm

Torque: 600Nm at 2,500rpm

Transmission: Eight-speed auto

Kerb weight: 1580kg

Price: From Dh750k

On sale: via special order

Torbal Rayeh Wa Jayeh
Starring: Ali El Ghoureir, Khalil El Roumeithy, Mostafa Abo Seria
Stars: 3

While you're here

Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press

Recent winners

2002 Giselle Khoury (Colombia)

2004 Nathalie Nasralla (France)

2005 Catherine Abboud (Oceania)

2007 Grace Bijjani  (Mexico)

2008 Carina El-Keddissi (Brazil)

2009 Sara Mansour (Brazil)

2010 Daniella Rahme (Australia)

2011 Maria Farah (Canada)

2012 Cynthia Moukarzel (Kuwait)

2013 Layla Yarak (Australia)              

2014 Lia Saad  (UAE)

2015 Cynthia Farah (Australia)

2016 Yosmely Massaad (Venezuela)

2017 Dima Safi (Ivory Coast)

2018 Rachel Younan (Australia)

The 15 players selected

Muzzamil Afridi, Rahman Gul, Rizwan Haider (Dezo Devils); Shahbaz Ahmed, Suneth Sampath (Glory Gladiators); Waqas Gohar, Jamshaid Butt, Shadab Ahamed (Ganga Fighters); Ali Abid, Ayaz Butt, Ghulam Farid, JD Mahesh Kumara (Hiranni Heros); Inam Faried, Mausif Khan, Ashok Kumar (Texas Titans