Former US president Jimmy Carter's coffin under the rotunda of the US Capitol, where he will lie in state until his funeral on Thursday. EPA
Former US president Jimmy Carter's coffin under the rotunda of the US Capitol, where he will lie in state until his funeral on Thursday. EPA
Former US president Jimmy Carter's coffin under the rotunda of the US Capitol, where he will lie in state until his funeral on Thursday. EPA
Former US president Jimmy Carter's coffin under the rotunda of the US Capitol, where he will lie in state until his funeral on Thursday. EPA

Jimmy Carter lies in state at US Capitol ahead of funeral


Ellie Sennett
  • English
  • Arabic

Former president Jimmy Carter was brought to Washington on Tuesday to lie in state at the US Capitol before his funeral this week.

Mr Carter died on December 29 at the age of 100. He served a single term as president from 1977-1981 and his life after leaving the White House was dedicated to humanitarian causes. He won the 2002 Nobel Peace Prize for campaigning for human rights and undertaking peace negotiations.

The Carter family accompanied Mr Carter’s remains on a flight from Georgia’s Dobbins Air Reserve Base to Washington. A military band played Hail to the Chief, the personal anthem that accompanies US presidents, and troops fired a 21-gun salute after the coffin was taken out of a hearse.

The Democratic former president and Navy veteran was honoured on Tuesday by congressional leaders including Republicans, who have taken control of Capitol Hill with the start of the new congressional session.

At a sombre ceremony under the Capitol's rotunda, Vice President Kamala Harris said Mr Carter had “lived every day of his long life in service to the people”.

She paid tribute to “his honesty, his integrity, his work ethic and determination, his intelligence and his generosity of spirit” and said Mr Carter's legacy “lives on” in the Middle East, pointing to the peace deal forged under his administration between Israel and Egypt.

In a speech ahead of the ceremony, Senator John Thune, the new Republican majority leader, credited Mr Carter's “great American story”.

Mr Thune told of Mr Carter's humble beginnings as a peanut farmer, his legacy in the Middle East, and the philanthropic work he and his wife Rosalynn led with the Carter Centre and Habitat for Humanity.

“It was perhaps his post-presidency that came to define his legacy the most … during the four decades that followed he dedicated himself to making a difference to the causes of peace and human rights, and to improving the well-being of his fellow man,” said Mr Thune.

The setting Washington sun glimmered through the Capitol rotunda’s windows, at times casting a subtle glow down on to the mourners at Mr Carter’s wreath-laying ceremony.

Democratic Senator Chuck Schumer said: “Today and tomorrow, Americans will brave the snow and cold temperatures to pay their respects to one of the most decent men ever to hold office of president.”

Many people stood in frigid temperatures to pay their respects to the late US leader, with long queues reported by local media.

Politicians and officials, some accompanied by their children, on Tuesday afternoon filed into the Capitol rotunda, where Mr Carter will lie in state until his funeral on Thursday. A brass band played Bridge over Troubled Water.

Mr Carter was elected president in 1976. During his time in office, he negotiated the breakthrough peace deal between Egypt and Israel. Two years later, after grappling with slow economic growth, stagflation and an energy crisis, he lost a bid for re-election after a group of Americans were taken hostage by Iranian revolutionaries.

The former president and his wife founded the Carter Centre charity in 1982, with the organisation focusing on fighting diseases and monitored elections around the world.

He won the Nobel Prize after “decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development”.

Mr Carter's wife died at the end of 2023 and they are survived by their four children, 11 grandchildren and 14 great-grandchildren.

Twelve former presidents have laid in state at the US Capitol, most recently George H W Bush. Other figures that have received the honour include Supreme Court Justice Ruth Bader Ginsberg and civil rights pioneer Rosa Parks.

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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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Fuel economy 5.9L / 100km

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Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
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* Second leg in Australia scheduled for October 10

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Company name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

Based: New York, New York

Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place. 

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Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

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Fuel economy, combined: 7.0L / 100km

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Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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