Republican presidential nominee Donald Trump with Robert F Kennedy Jr at a campaign rally at the Desert Diamond Arena, in Glendale, Arizona, on August 23, 2024. AP
Republican presidential nominee Donald Trump with Robert F Kennedy Jr at a campaign rally at the Desert Diamond Arena, in Glendale, Arizona, on August 23, 2024. AP
Republican presidential nominee Donald Trump with Robert F Kennedy Jr at a campaign rally at the Desert Diamond Arena, in Glendale, Arizona, on August 23, 2024. AP
Republican presidential nominee Donald Trump with Robert F Kennedy Jr at a campaign rally at the Desert Diamond Arena, in Glendale, Arizona, on August 23, 2024. AP

Robert F Kennedy Jr suspends presidential campaign


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Robert F Kennedy Jr suspended his long-shot presidential campaign on Friday and announced his decision to endorse Republican candidate Donald Trump in the November 5 election.

“I'm going to remove my name, and I've already started that process and urged voters not to vote for me,” he said during a press conference from Arizona.

“It's with a sense of victory and not defeat that I'm suspending my campaign activities.”

Mr Kennedy said he was throwing his support behind Mr Trump, referring to several conversations and meetings with the Republican candidate.

The Associated Press reported before Mr Kennedy's speech that a Pennsylvania court filing stated he would be endorsing Mr Trump. The filing also asked to remove him from the state's ballot for the November.

Reuters reported on Thursday that Arizona officials said Mr Kennedy had filed paperwork to remove himself from the presidential ballot there, too.

Mr Kennedy is the son of former attorney general Robert F Kennedy and a nephew of former president John F Kennedy.

He first entered the 2024 presidential race as a Democrat but left the party last autumn to run as an independent.

He built an unusually strong base for a third-party bid, fuelled in part by anti-establishment voters and vaccine sceptics who have followed his anti-vaccine work since the coronavirus pandemic.

But he has since faced strained campaign finances and mounting legal challenges, including a recent ruling from a New York judge that he should not appear on the ballot in the state because he listed a “sham” address on nominating petitions.

Many members of Mr Kennedy's extended family have been outspoken in criticising his political views and some publicly endorsed President Joe Biden before he dropped out of the race. They have since backed Kamala Harris.

“We want an America filled with hope and bound together by a shared vision of a brighter future, a future defined by individual freedom, economic promise and national pride,” it read.

“We believe in Harris and Walz.

“Our brother Bobby's decision to endorse Trump today is a betrayal of the values that our father and our family hold most dear. It is a sad ending to a sad story.”

The announcement comes one day after Ms Harris formally accepted the Democratic nomination, and caps a week in which Mr Trump has sought to blunt her momentum with a series of splashy campaign events and media engagements.

The Republican nominee is also expected to appear – with a “special guest” – in Arizona later on Friday following Mr Kennedy’s announcement.

At the height of his campaign in January, Mr Kennedy was polling as high as 20 per cent in a three-way race with Mr Trump and Mr Biden in the RealClearPolitics average of national polls.

“I believe that I would have won the election in a system my father and my uncles thrived in – a system with open debates, with fair primaries, with regularly scheduled debates … and with a truly independent media untainted by government propaganda and censorship, in a system of non-partisan courts and election boards, everything would be different,” he said.

By mid-July, his share had declined to about 8 per cent.

Mr Biden’s decision to drop out and pass the baton to Ms Harris shook up the race and dealt Mr Kennedy another blow, with his average polling support dropping to 5 per cent within days.

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Griselda
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ARGENTINA SQUAD

Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

SPECS
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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

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.”

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While you're here
Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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COMPANY%20PROFILE
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Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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Updated: August 24, 2024, 5:26 AM