US Senator Bernie Sanders and US Representative Alexandria Ocasio Cortez, Democrat of New York, wave to supporters during the "Fighting Oligarchy: Where We Go From Here" rally at Gloria Molina Grand Park in Los Angeles on April 12. AFP
US Senator Bernie Sanders and US Representative Alexandria Ocasio Cortez, Democrat of New York, wave to supporters during the "Fighting Oligarchy: Where We Go From Here" rally at Gloria Molina Grand Park in Los Angeles on April 12. AFP
US Senator Bernie Sanders and US Representative Alexandria Ocasio Cortez, Democrat of New York, wave to supporters during the "Fighting Oligarchy: Where We Go From Here" rally at Gloria Molina Grand Park in Los Angeles on April 12. AFP
US Senator Bernie Sanders and US Representative Alexandria Ocasio Cortez, Democrat of New York, wave to supporters during the "Fighting Oligarchy: Where We Go From Here" rally at Gloria Molina Grand P


Can the Democrats get their act together before next year's US midterms?


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April 24, 2025

While US President Donald Trump has predictably been hoovering up the political bandwidth with his volatile policies, Democrats – entirely frozen out of power since the November election – are quietly engaged in a historic internal power struggle.

US parties that lose the White House are typically left without a national leader. And when, like Democrats, they emerge without control of any aspect of government, factions jostle mightily for position. Political power is so concentrated in the White House that there will be no national leader until the presidential nomination, and that person will have to win the election to retain authority. Until then, opposition parties remain effectively leaderless (with rare exceptions, like Mr Trump’s continued control of the Republican Party despite his 2020 defeat).

Given Mr Trump’s assault on many state institutions and the rule of law, how Democrats position themselves in opposition takes on an unusual degree of significance. It involves a project to salvage the constitutional system from a co-ordinated assault. Beyond partisan positioning, it may shape the future of the Republic.

While united in opposition to Mr Trump, Democrats are quietly playing the blame game, with still-dominant centrists facing a potent attack from progressives. The left, led by Senator Bernie Sanders and representative Alexandria Ocasio-Cortez, critique former president Joe Biden and his vice president, Kamala Harris – both centrist Democrats – for being insufficiently attentive to class concerns during their time in office. They blame them for being too cautious in attacking an existing system they characterise as an oligarchical kleptocracy dominated by the wealthy and corporations.

While united in opposition to Trump, Democrats are quietly playing the blame game

These progressive leaders – an elderly white male senator and a young Latina female representative – have organised numerous rallies denouncing Mr Trump. It’s arguably the most sustained pushback he has faced so far. They are thereby advancing their social democratic faction.

Centrists still dominate Democratic leadership in Congress through Chuck Schumer in the Senate and Hakeem Jeffries in the House of Representatives. Along with influential centre-left commentators and politicians such as California Governor Gavin Newsom, they have been effectively trying to warn Democrats not to overplay their hand.

Democrats agree they need a more appealing platform than they had in 2024, and that they cannot run simply as 'not-Republicans'

The party’s centre advocates allowing Mr Trump to self-destruct – and point to his controversial policy initiatives such as a tariff-driven trade war and the chaotic state of much of his cabinet, especially at the Pentagon, as evidence. They hope the administration’s ineptitude in a number of crucial areas will dovetail with the pattern of midterm elections favouring the opposition party to return control of the House, and possibly the Senate, to Democrats next year.

Moreover, they warn that one of the reasons for Ms Harris’s defeat to Mr Trump in the November presidential election was a widespread impression that Democrats are more left-wing and “woke” than they are. Centrists typically agree that Democrats need a stronger message on economic issues, but they warn against the alleged unpopularity of progressive social policies that supposedly work against Democrats with many mainstream Americans.

The left scoffs at this. They note that Ms Harris went to tremendous lengths to reassure middle America that Democrats are strong on national defence and immigration, and that the party is cautious about social restructuring through universal health care or national educational equality. It is precisely an aggressive left-wing agenda on quality-of-life issues that, they argue, is key to defeating Mr Trump and Republicans in the midterms and beyond.

Rev Al Sharpton, US Senate Minority Leader Chuck Schumer (D-NY), US Senator Kirsten Gillibrand (D-NY), US Representative Jerry Nadler (D-NY) and other political leaders hold a rally for Free Speech in Foley Square in front of Federal Courthouse in New York City, on April 22. Reuters
Rev Al Sharpton, US Senate Minority Leader Chuck Schumer (D-NY), US Senator Kirsten Gillibrand (D-NY), US Representative Jerry Nadler (D-NY) and other political leaders hold a rally for Free Speech in Foley Square in front of Federal Courthouse in New York City, on April 22. Reuters

The left is furious with Mr Schumer for having compromised with Senate Republicans to avoid a government shutdown in March. Mr Schumer obviously calculated that it was too early to gamble on a shutdown blame game, even though historically presidents are generally held responsible for these periodic crises. But when the issue comes up again next year, he and Mr Jeffries are going to have to wage a much tougher fight with far stronger conditions or face a powerful backlash from many Democratic voters.

It was virtually inevitable that momentum would shift towards the progressive left given the failure of the Biden-Harris centrist policy agenda to fend off Mr Trump and his Republicans last November. The across-the-board defeat suffered by Democrats makes it hard for centrists to defend their more conciliatory and cautious approach, and Mr Trump’s highly aggressive and radical policies further strengthen the left as Americans increasingly welcome an organised pushback. This isn't the only vector of internal democratic struggle, but it's the deepest and most consequential one.

The biggest battle will be over the presidential nomination following the midterm elections. Already a number of governors – particularly Illinois Governor JB Pritzker, a billionaire who is an outspoken critic of Mr Trump, Michigan Governor Gretchen Witmer, who faced a plot to kidnap and kill her by right-wing militia groups, and Mr Newsom, a centrist leader harshly critical of the progressive left – have emerged as probable candidates.

The progressive left has no obvious leading candidate, especially since it appears Mr Sanders is too old and politically passe while Ms Ocasio-Cortez is too young and politically junior to be plausible effective presidential nominees. But if the momentum continues to shift towards the left and the centre cannot win the ideological battle that will be defined by the midterms, some leading candidates may be drawn into a more potent progressive gravitational pull.

Democrats are keenly aware that while they lost power across the board last November, and Mr Trump claims a landslide win and a strong mandate, in fact the presidential election proved to be much closer than it first appeared. Mr Trump, in fact, scored one of the narrowest victories in modern US electoral history, and while he did win most of the popular vote – unusual even for victorious Republican presidential candidates in recent election cycles – his winning margin was only 1.5 per cent and just over a million votes more than Ms Harris. In other words, the election was extremely close.

Democrats, therefore, conclude that a very small shift in a few places would have delivered a different outcome last November, and not just concerning the White House. Control of the Senate is the most challenging goal for Democrats in the coming years, although they may console themselves that Mr Trump is working hard to make their case for them.

Democrats agree they need a more appealing platform than they had in 2024, and that they cannot run simply as “not-Republicans”. The battle is over what kind of better future they offer Americans.

So, while Mr Trump dominates headlines in coming months and even years, it’s worth paying attention to what’s happening among Democrats. They are likely to return to a share, and even dominance, of American power sooner rather than later.

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.”

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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)

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War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Updated: April 24, 2025, 4:11 AM