Damac is sticking by its partnership with the Trump Organization despite the latest anti-Muslim tirade by the front-runner for the Republican presidential nomination.
Donald Trump on Monday called for a "total and complete shutdown of Muslims entering the United States".
His remark drew swift rebukes from across the political spectrum. It came just weeks after he said he would consider closing down some US mosques in response to the Paris terror attacks.
The latest outburst has focused attention on the billionaire’s relationship with Dubai’s Damac Properties where the Trump Organization is managing a golf club under development on the outskirts of the city.
The partnership remained intact today despite the storm of controversy surrounding Mr Trump.
“We would like to stress that our agreement is with the Trump Organization as one of the premium golf course operators in the world and as such we would not comment further on Mr Trump’s personal or political agenda, nor comment on the internal American political debate scene,” said Niall McLoughlin, a senior vice president at Damac Properties.
The developer teamed up with The Trump Organization in May 2013 with a plan to operate a Trump International Golf Course at the heart of the 42 million square feet Akoya by Damac project in Dubailand.
During a political rally in South Carolina on Monday night, Mr Trump told supporters: “You’re going to have more World Trade Centers. We can be politically correct or we can be stupid, but it’s going to get worse and worse.”
Even before his latest remarks, Mr Trump drew criticism from the UAE business community.
Khalaf Al Habtoor, chairman of the Dubai-based Habtoor conglomerate, last month wrote in an article for The National:
"I was wrong and I do not mind admitting it. My support for America's front-running Republican presidential candidate Donald Trump was a mistake. Initially, I admired his outspokenness and his record of turning losses into wins. I believed – and still do – that America is lacking strong leadership. But when strength is partnered with ignorance and deceit, it produces a toxic mix threatening the United States and our world."
scronin@thenational.ae
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
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Match info
Manchester United 0-0 Crystal Palace
Man of the match: Cheikhou Kouyate (Crystal Palace)
UAE currency: the story behind the money in your pockets
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
EXPATS
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
