US on cusp of 'new Golden Age', Trump claims in Republican National Convention speech


Willy Lowry
  • English
  • Arabic

Donald Trump officially accepted the Republican Party's nomination to run for president in November, capping an astonishing political comeback nearly four years after he was voted out of office amid the chaos of the Covid-19 pandemic.

In a nearly two-hour speech at the Republican National Convention in Milwaukee, Wisconsin, on Thursday, Mr Trump described the moment he was nearly killed by a gunman at a rally in Butler, Pennsylvania, and said God saved him.

"There was blood pouring everywhere and yet, in a certain way, I felt very safe because I had God on my side," Mr Trump said, wearing a large white bandage on his right ear, which was grazed by a bullet.

Audience members at the convention wept openly and shouted "we love Trump" as he recounted details of the assassination attempt, when Thomas Crooks, 20, fired several shots at him.

"I'm not supposed to be here tonight, not supposed to be," Mr Trump said. "I will tell you, I stand before you and this arena only by the grace of almighty God."

Mr Trump also praised those injured in the attack at the rally, as well as Corey Comperatore, the former firefighter killed in the stands behind the former president. At one point during the nearly two-hour address, Mr Trump walked over to a mannequin dressed in Mr Comperatore's firefighting outfight and kissed the helmet.

The divisive former president called for unity while also railing against the Democratic Party and blaming it for what he perceives to be a declining America.

"We must not criminalise dissent, or demonise political disagreement, which is what's been happening in our country lately at a level that nobody has ever seen before," Mr Trump said, referring to the criminal cases against him that he claims are politically motivated.

"In that spirit, the Democrat Party should immediately stop weaponising the justice system and labelling their political opponents as an enemy of democracy."

Mr Trump only referenced President Joe Biden by name once and devoted much of his speech to demonising Democratic policies, particularly on immigration. He repeatedly described the situation along the US-Mexico border as an "invasion" and said he would continue to build a border wall if re-elected.

"The greatest invasion in history is taking place right here in our country – they are coming in from every corner of the Earth, not just from South America, but from Africa, Asia, and the Middle East – they’re coming from everywhere, and this administration does nothing to stop them," he said.

He also blamed Mr Biden for the wars in Ukraine and Gaza. "I will end every single international crisis that the current administration has created, including the horrible war with Russia and Ukraine, which would have never happened if I was president, and the war caused by the attack on Israel, which would have never happened if I was president," Mr Trump said.

He chastised the Biden administration for allowing Iran to make money from oil and to sow havoc in the region.

"Iran was broke," he said. "Iran had no money, now Iran has $250 billion. They made it all over the last two and a half years."

Mr Trump also had a warning to Hamas. "I tell you this, we want our hostages back and they better be back before I assume office or you will be paying a very big price."

He has spent four years falsely claiming the 2020 election was stolen. "We had that horrible, horrible result ... we're never gonna let that happen again," he said. "They used Covid to cheat and we're never gonna let it happen again."

Many in the crowd at the Fiserv Forum, where the convention was held, wore bandages over their ears in a show of support to Mr Trump.

He has maintained an iron grip on the Republican Party despite the criminal and civil cases lodged against him, including a conviction on 34 counts in May, and now he appears to be stronger than ever. The party has united around him in a way it did not do in 2020 or 2016.

While he spent much of his time in Milwaukee railing against Democratic policies, he also tried to paint a picture of what the US would be like were he to return to the White House.

"America is on the cusp of a new Golden Age, but we will have the courage to seize it," he said.

He suggested he would reshape the country's defence systems and recommit to fossil fuels.

"Tonight, I make this pledge to the great people of America: I will end the devastating inflation crisis, immediately bring down interest rates and lower the cost of energy. We will drill, baby, drill."

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Company%20Profile
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

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Spare

Profile

Company name: Spare

Started: March 2018

Co-founders: Dalal Alrayes and Saurabh Shah

Based: UAE

Sector: FinTech

Investment: Own savings. Going for first round of fund-raising in March 2019

Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi

Yadoo’s House Restaurant & Cafe

For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.

Golden Dallah

For the cappuccino, luqaimat and aseeda.

Al Mrzab Restaurant

For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.

Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

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Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

UAE rugby in numbers

5 - Year sponsorship deal between Hesco and Jebel Ali Dragons

700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams

Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams

Dh1.8m - Dubai Hurricanes' overall budget for next season

Dh2.8m - Dubai Exiles’ overall budget for next season

Heavily-sugared soft drinks slip through the tax net

Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.

Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.

A 680ml can of Arizona Iced Tea costs just Dh6.

Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.

Green ambitions
  • Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
  • Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
  • Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
  • Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water 

Arctic Monkeys

Tranquillity Base Hotel Casino (Domino) 

 

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.”

Updated: July 19, 2024, 6:42 AM