Then-president Donald Trump and Democratic candidate Joe Biden in the final debate before the 2020 election. AP
Then-president Donald Trump and Democratic candidate Joe Biden in the final debate before the 2020 election. AP
Then-president Donald Trump and Democratic candidate Joe Biden in the final debate before the 2020 election. AP
Then-president Donald Trump and Democratic candidate Joe Biden in the final debate before the 2020 election. AP

Foreign policy looms large as Biden and Trump prepare for debate


Ellie Sennett
  • English
  • Arabic

The showdown between US President Joe Biden and his Republican rival Donald Trump is shaping up to be a national spectacle that will be “watched around the world.”

And although polls show that American voters rank the economy as their top election issue for the November 5 election, foreign policy is inching closer to centre stage, with growing chaos in the Middle East and partisan disputes over Russia's war in Ukraine.

CNN is hosting the prime time debate on Thursday at 9pm EST.

Mr Biden used the run-up to the debate against his right-wing populist adversary to try to deliver some major shows of diplomatic force.

His recent agenda included a D-Day anniversary trip to France, the G7 meeting in Italy with Washington's top western allies and Japan, securing a 10-year security agreement and $50 billion loan for Ukraine.

These were significant demonstrations of the traditional alliance structure the Biden administration has sought to uphold, contrasted against what Mr Biden says is Trump's embrace of “thugs like in North Korea” as well as Russia and China as “he pokes his finger in the eye of all of our allies".

Pope Francis poses with the G7 heads of state and other global leaders in Italy on June 14. Getty
Pope Francis poses with the G7 heads of state and other global leaders in Italy on June 14. Getty

At Thursday's debate, Mr Biden must defend his Middle East track record, which hawkish Republicans and the anti-Gaza war movement from the left have both criticised.

Trump will probably join a Republican chorus seeking to paint Mr Biden's posture on the world stage as weak.

House foreign affairs committee chairman Mike McCaul told The National that “while America is engaged in an all-out fight for the global balance of power, the Biden administration is projecting weakness and making the nation realise the desperate need for new leadership".

“Under President Biden, the US repeatedly fails to deter threats and protect US interests … our adversaries have only grown more emboldened and more determined in their efforts to see the US deteriorate,” he said.

Both candidates have asserted a strong support for Israel.

Despite statements of concern and condemnation from the Biden administration over civilian killings, the President has refused to substantively enforce his own “red line” on a Rafah invasion and continues to provide Israel with almost unfettered support.

Trump, who launched the landmark Abraham Accords during his time as president, has taken a more inflammatory tone.

He recently told donors that he would deport some pro-Palestinian student protesters from US university campuses, while also saying Israel is “losing the PR war” on Gaza and urging Prime Minister Benjamin Netanyahu to “get it over with fast".

EJ Kimball, director of policy and strategic operations at the US Israel Education Association, says that for debate watchers in favour of the Israel alliance “we're looking for a commitment that the United States will be a supporter for Israel on the global stage".

Mr Kimball said they will also be interested in questions to the candidates on how Washington is working to expand the Abraham Accords and “build out a broader Arab coalition, and how each of them will deal with the Iranian threat", as well as an outline of “what they view as essential for Palestinian governance.”

Americans have historically maintained steady and bipartisan support for Israel, and Capitol Hill remains one of its greatest sources of financial backing.

Since Gallup first measured opinions of Israel in 1989, an average of 65 per cent of Americans have had favourable opinions of it over the years.

But Israel's war in Gaza, which has killed more than 37,600 Palestinians since the October 7 Hamas attack that killed nearly 1,200 people in Israel, has begun to change that, particularly among younger voters.

Recent Gallup polling shows young adults hold the biggest decline in support of Israel, dropping from 64 per cent favourable among 18-34 year olds in 2023 to 38 per cent.

“I have had hard discussions with my parents who seem to be on the 'vote blue no matter what' train,” says Margaret Lavi, a Virginia voter and young mother who has normally voted for Democrats.

"I see a big difference in the generations on voting this year."

This year, she plans to join a growing movement of pro-Palestinian protest ballots in November over the war in Gaza – and she does not plan on watching the debate.

“There is nothing Biden could say that would sway me," Ms Lavi told The National.

"His actions over the last eight months and quite frankly his presidency have spoken louder than his words … his arrogance that young voters will continue to just vote 'blue' no matter what will be his downfall."

Mr Kimball, who works with bipartisan members of Congress to advance the US-Israel relationship, says opinions such as Ms Lavi's are “a minority” and he doubts that there is a significant splintering between Republicans and Democrats on Israel.

“This is going to be watched around the world, and including by our enemies and by Israel's enemies,” he said.

"A vital message that needs to be sent is that regardless of the outcome in November, the relationships between the US and Israel will be as strong as it's ever been.

On Ukraine, however, there are clearly diverging views between the two candidates.

The “war in Ukraine is not just local war between Russia and Ukraine, but this is a competition for the whole world rules,” says Tetiana Hranchak, a visiting Ukrainian professor at Syracuse University's Maxwell School of Citizenship and Public Affairs, who fled her country after Russia's 2022 invasion.

Mr Biden and Trump do not agree on those world rules.

Mr Biden has backed the delivery of military and financial support to Kyiv, calling Russian President Vladimir Putin a “dictator” who is threatening the world order and is intent on pushing the battle deeper into Europe.

Trump has faced years of scrutiny over his alleged ties with the Kremlin and was impeached during his first term over an alleged quid pro quo threat on support to Ukraine.

This year, he further caused controversy when he said he would encourage Russia to do “whatever the hell they want” to any Nato country that does not pay its dues.

President Donald Trump and Russia's President Vladimir Putin shake hands during a joint news conference after their meeting in Helsinki. Reuters
President Donald Trump and Russia's President Vladimir Putin shake hands during a joint news conference after their meeting in Helsinki. Reuters

While in France for the 80th anniversary of D-Day, Mr Biden nodded to his Republican opponent's diplomatic flirtation with Mr Putin, warning about “the price of unchecked tyranny".

This week, Reuters reported that two key Trump advisers have presented him with a plan to end Russia's war in Ukraine – if he wins the presidential election – that involves telling Kyiv it will only get more US weapons if it enters into peace talks with Moscow.

Ms Hranchak says she “will be nervous” about the debate because she does not “want Ukraine to be the subject of this ping-pong game".

“I wish that Ukraine ceases to be the subject of internal political struggle,” she said.

“In general, I'd like to hear answers or comments, not so much about Ukraine, but about Russia, because it's not Ukraine, but Russia, that poses the biggest challenge today, and it would be good to have a vision regarding the prospects of relations with Russia,” said Ms Hranchak.

“What exactly do we want to have in a result [of the war]? It depends on our vision of relations between the US and Russia.”

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

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Global state-owned investor ranking by size

1.

United States

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China

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UAE

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Japan

5

Norway

6.

Canada

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Singapore

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Saudi Arabia

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South Korea

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Jetour T1 specs

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Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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PREMIER LEAGUE FIXTURES

Saturday (UAE kick-off times)

Watford v Leicester City (3.30pm)

Brighton v Arsenal (6pm)

West Ham v Wolves (8.30pm)

Bournemouth v Crystal Palace (10.45pm)

Sunday

Newcastle United v Sheffield United (5pm)

Aston Villa v Chelsea (7.15pm)

Everton v Liverpool (10pm)

Monday

Manchester City v Burnley (11pm)

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

The specs

Engine 60kwh FWD

Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power 204hp Torque 360Nm

Price, base / as tested Dh174,500 

Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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Personalities on the Plate: The Lives and Minds of Animals We Eat

Barbara J King, University of Chicago Press 

Updated: June 26, 2024, 3:00 AM