Joe Biden drops out of re-election bid in US presidential race


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US President Joe Biden on Sunday announced that he would no longer be running in the 2024 US presidential race, a momentous decision that further upends the Democratic campaign against Republican Donald Trump and spells an end to Mr Biden's decades-long political career.

"It has been the greatest honour of my life to serve as your president," Mr Biden wrote in a statement.

"And while it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term."

Mr Biden endorsed his vice president, Kamala Harris, as the Democratic Party's nominee. He added that he intends to speak later this week about his decision and what is next.

The Democrats now face the daunting task of rallying behind Ms Harris just a month before their convention in Chicago, and less than four months before the November 5 election.

The decision marks the latest historic milestone in a high-stakes election defined by existential questions, and Republicans in the US Congress quickly called on Mr Biden to resign from the presidency.

World leaders quickly issued statements of appreciation for Mr Biden as a long-serving statesman.

Israeli Prime Minister Isaac Herzog paid tribute to "the first US President to visit Israel in wartime, as a recipient of the Israeli Presidential Medal of Honour, and as a true ally of the Jewish people".

"He is a symbol of the unbreakable bond between our two peoples," Mr Herzog wrote on X.

Micheal Martin, Ireland's Foreign Minister, was among the first world leaders to pay tribute to Mr Biden, who has spoken fondly of his Irish heritage.

"This has no doubt been the toughest of calls, but one done, as ever, with dignity and class. I know that the people of Ireland will wish President Biden the very best," Mr Martin shared in a heartfelt post to X.

But others were not as warm in their reactions.

Maria Zakharova, spokeswoman for Russia's Foreign Ministry, said leaders should “investigate the conspiracy of the American media and political circles that hid the true state of affairs about his mental state, manipulating public opinion and playing along with one political party."

Moscow has endorsed the Republican ticket with Mr Trump and his vice presidential pick JD Vance.

Democrats have asserted that the foundations of US democracy are at stake, including worries over ensuring the defeat of Mr Trump and Republicans with authoritarian hopes beyond what his first presidency signalled.

Mr Trump's comments about acting as a dictator and Mr Vance's sympathies for elements of Project 2025 – a plan by a conservative think tank to rework government structure and policy from day one – have caused alarm over the future of American democracy.

A recent poll published by Five Thirty Eight poll showed that Ms Harris is “tied” with Mr Trump, at 44-44.

The path to the end of Mr Biden's campaign began after his anaemic and at times incoherent performance in a June 27 debate against his Republican predecessor inspired panic within the Democratic Party.

The White House countered that the 81-year-old President – the oldest in American history – had a cold and was jet-lagged from a tour of Europe nearly two weeks before he took to the debate stage.

Powerful Democrats including Mr Biden's past boss and former president Barack Obama, former House of Representatives Speaker Nancy Pelosi, Senate majority leader Chuck Schumer, and current House Speaker Hakeem Jeffries had expressed concerns about his electability privately and publicly.

Reports in the US media, most quoting unnamed sources, had for weeks painted conflicting pictures about how Mr Biden was processing the fallout.

The New York Times reported on Thursday that several people close to Mr Biden had begun to accept the idea that he may not be able to win in November and may have to drop out of the race.

But as recently as Friday, Mr Biden's re-election campaign chair Jen O’Malley Dillon insisted that he is “in this race to win”.

Progressive Congresswoman Alexandria Ocasio-Cortez, a defender of the President after his debate performance, criticised those who spoke to media on background or off the record.

Less than a day after her Instagram Live video comments, dozens of members of Congress issued public statements calling for Mr Biden to step down.

Polls had shown declining support for Mr Biden's re-election aims, compelling major campaign donors like George Clooney to hold or redirect their funds.

According to a poll by the AP/Norc Centre for Public Affairs, nearly two thirds of Democrats thought Mr Biden should withdraw from the race and have a new party candidate be nominated.

Another recent poll by FiveThirtyEight showed he was trailing his Republican opponent by four points, 42-46.

The end of his political career

Though he still has another six months in office, the end of Mr Biden's campaign essentially ends a lengthy political career.

He briefly worked as a public defender in the 1970s before he entered local Delaware politics.

Mr Biden took the leap into national politics when he was elected as a senator for the state of Delaware in 1973, which began his 36-year career in Congress.

Before his presidency, he served as Mr Obama's vice president for two terms.

Mr Biden stepped into the Oval Office shortly after a pro-Trump insurrection at the US Capitol in January 2021 and amid the Covid pandemic.

He tried to lead the country out of an economic crisis with the aid of a large infrastructure bill.

Mr Biden managed the US through foreign crises including Russia's war on Ukraine and the chaotic withdrawal from Afghanistan.

  • US President Joe Biden delivers the State of the Union address at the Capitol in Washington. Reuters
    US President Joe Biden delivers the State of the Union address at the Capitol in Washington. Reuters
  • Mr Biden criticised his probable presidential election rival Donald Trump during the speech. EPA
    Mr Biden criticised his probable presidential election rival Donald Trump during the speech. EPA
  • Mr Biden with House Speaker Mike Johnson and Vice President Kamala Harris, at the Capitol. AP
    Mr Biden with House Speaker Mike Johnson and Vice President Kamala Harris, at the Capitol. AP
  • Democratic members of the House of Representatives Ilhan Omar, left, and Ayanna Pressley show their opposition to the US policy on Gaza. Reuters
    Democratic members of the House of Representatives Ilhan Omar, left, and Ayanna Pressley show their opposition to the US policy on Gaza. Reuters
  • From left, US Democratic politicians Rashida Tlaib, Summer Lee and Cori Bush put on Palestinian keffiyehs before Mr Biden began his address. Reuters
    From left, US Democratic politicians Rashida Tlaib, Summer Lee and Cori Bush put on Palestinian keffiyehs before Mr Biden began his address. Reuters
  • Members of a Secret Service team depart the Capitol after the State of the Union speech. AFP
    Members of a Secret Service team depart the Capitol after the State of the Union speech. AFP
  • Mr Biden was heckled at the Capital by members of the Republican Party. Reuters
    Mr Biden was heckled at the Capital by members of the Republican Party. Reuters
  • The State of the Union address was a fiery affair. AP
    The State of the Union address was a fiery affair. AP
  • Senate minority leader Mitch McConnell, who has announced he will step down. EPA
    Senate minority leader Mitch McConnell, who has announced he will step down. EPA
  • Mr Biden stops for a selfie as he departs the Capital. AFP
    Mr Biden stops for a selfie as he departs the Capital. AFP
  • Jill Biden, the first lady, centre, attends the speech with Swedish Prime Minister Ulf Kristersson, second row, third from right. AP
    Jill Biden, the first lady, centre, attends the speech with Swedish Prime Minister Ulf Kristersson, second row, third from right. AP
  • People watch the State of the Union address at an event in Wrightsville Beach, North Carolina. Getty Images
    People watch the State of the Union address at an event in Wrightsville Beach, North Carolina. Getty Images

But one of the nails in his political coffin was his steadfast support of Israel despite a growing civilian death toll in Gaza.

A small but vocal movement called for Democrats to vote “uncommitted” or leave their votes blank to express support for an end to the war in Gaza. The “uncommitted” group garnered 36 delegates.

Patricia Crouse, a practitioner in residence in public administration and political science at the University of New Haven, said this year's Democratic primary crisis was reflective of a larger issue for the party and its approach to candidates, pointing to the 2016 backing of Hillary Clinton as the party's first nominee against Mr Trump.

The party has seemed to project that “candidates are somehow owed the presidency because they were vice president, or they're owed the presidency because they served in somebody's administration”.

“The problem is we've moved to these candidate-centred elections, and the parties have very little to say now really about choosing candidates,” Ms Crouse told The National before Mr Biden's announcement.

“I think the parties probably need to take back some of that power.”

She said Mr Biden's departure may have a lasting impact on the role of age in future elections.

“Age is definitely going to be something that we're going to see in future elections, the age question.”

Ms Crouse pointed to Mr Trump picking a junior senator as his running mate.

“Those are the conversations the party needs to be having … [Mr Vance] is 39 years old, and so in four years, if he decides to run for president, you have a young candidate.”

The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now  

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UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Sui Dhaaga: Made in India

Director: Sharat Katariya

Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav

3.5/5

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((Disclaimer))

The Liechtensteinische Landesbank AG (“Bank”) assumes no liability or guarantee for the accuracy, balance, or completeness of the information in this publication. The content may change at any time due to given circumstances, and the Liechtensteinische Landesbank AG is under no obligation to update information once it has been published. This publication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, Liechtensteinische Landesbank (DIFC Branch), Liechtensteinische Landesbank AG, or any of its group affiliates to make any investments or obtain services. This publication has not been reviewed, disapproved or approved by the United Arab Emirates (“UAE”) Central Bank, Dubai Financial Services Authority (“DFSA”) or any other relevant licensing authorities in the UAE. It may not be relied upon by or distributed to retail clients. Liechtensteinische Landesbank (DIFC Branch) is regulated by the DFSA and this advertorial is intended for Professional Clients (as defined by the DFSA) who have sufficient financial experience and understanding of financial markets, products or transactions and any associated risks.

Unresolved crisis

Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.

Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.

The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

First Person
Richard Flanagan
Chatto & Windus 

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

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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EPL's youngest
  • Ethan Nwaneri (Arsenal)
    15 years, 181 days old
  • Max Dowman (Arsenal)
    15 years, 235 days old
  • Jeremy Monga (Leicester)
    15 years, 271 days old
  • Harvey Elliott (Fulham)
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What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%20turbo%204-cylinder%20%2F%202.0%20turbo%204-cylinder%20(S3)%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20148bhp%20%2F%20328bhp%20(S3)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20250Nm%20%2F%20420Nm%20(S3)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20December%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20TBA%0D%3C%2Fp%3E%0A
Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

While you're here
If you go...

Etihad flies daily from Abu Dhabi to Zurich, with fares starting from Dh2,807 return. Frequent high speed trains between Zurich and Vienna make stops at St. Anton.

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

SPECS

Mini John Cooper Works Clubman and Mini John Cooper Works Countryman

Engine: two-litre 4-cylinder turbo

Transmission: nine-speed automatic

Power: 306hp

Torque: 450Nm

Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500

What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.

In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.

It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

RESULTS

Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

GROUPS

Group Gustavo Kuerten
Novak Djokovic (x1)
Alexander Zverev (x3)
Marin Cilic (x5)
John Isner (x8)

Group Lleyton Hewitt
Roger Federer (x2)
Kevin Anderson (x4)
Dominic Thiem (x6)
Kei Nishikori (x7)

Updated: July 22, 2024, 10:34 AM