Donald Trump with first lady Melania Trump as he pardons the National Thanksgiving Turkey named "Corn", at the Rose Garden at the White House in Washington, US, November 24. Reuters
Donald Trump with first lady Melania Trump as he pardons the National Thanksgiving Turkey named "Corn", at the Rose Garden at the White House in Washington, US, November 24. Reuters
Donald Trump with first lady Melania Trump as he pardons the National Thanksgiving Turkey named "Corn", at the Rose Garden at the White House in Washington, US, November 24. Reuters
Despite these testing times, American Thanksgiving (November 26) may be a useful moment to take stock. What should we, as a planet, give thanks for in a year that threw up the depressing new word “doomscrolling”?
It is true that 2020 has felt like a particularly bad year. It was roiled by two spreading crises, a global pandemic and growing turbulence as a result of deepening discontent with the way things are, in terms of social and economic inequality and environmental destabilisation wrought by climate change.
But there are some reasons to feel grateful. At least 10 reasons, as a matter of fact.
Everyone everywhere is washing their hands a lot more. Lockdowns have brought the sudden realisation to millions that there is an intrinsic joy and inestimable value in face-to-face contact with other human beings. Telemedicine is making health care more accessible.
Digitalisation is proceeding apace in almost every sector of the global economy. Multilateral trade deals are still being signed and with greater, more dogged determination. Coronavirus vaccines are on their way. Women and members of minority groups increasingly have a place at the top table.
There is talk of China and the US, the world’s two biggest economies, entering a new phase of “co-opetition” (co-operation + competition) rather than a nasty zero-sum battle for supremacy.
People wait in long lines for coronavius tests at a walk-up Covid-19 testing site, November 24, in San Fernando, California, US. AFP
The 2015 Paris climate deal may soon be back at full complement with the US rejoining the pact. And the traditions, institutions and political values of the United States, the only country with a continuous democracy more than 200 years old, have held up in a deeply divisive election.
At least four of those items of good news are anchored in the ongoing US presidential transition. The long handover from Donald Trump’s administration to that of Joe Biden formally got under way this week, lifting spirits, the S&P 500, the Dow Jones industrial average and even oil prices.
This has as much to do with Mr Biden's own moderate politics and measured words as with his first cabinet picks. The key choices for treasury secretary, homeland security, secretary of state, climate tsar and director of national intelligence have had a calming effect even as they inspire hopes for positive change.
Clearly, there is much to be thankful for even in 2020 but most of all with news on vaccine development
As treasury secretary, Janet Yellen, a respected economist and former chair of the Federal Reserve, will be the first woman to hold a job that has been dominated by men throughout its 231-year history.
She also has deep knowledge of the labour market, something that gives confidence as the incoming administration gets to grips with the difficult task of rebuilding a US economy battered by the pandemic and saddled with high unemployment.
New York’s LaGuardia Airport on November 24. Despite warnings from the government and politicians not to travel for the Thanksgiving holiday due to the pandemic, millions of Americans have been travelling to meet friends and family. Getty Images/AFP
Mr Biden’s other nominees also score high on the triple metric of competence, diversity and experience. And there are a lot of firsts in there. The new head of homeland security, Alejandro Mayorkas, is a Cuban-born immigrant and the first Latino to be given the job of managing America’s immigration policies.
Avril Haines will be the first female director of national intelligence. As America's first ever climate envoy, John Kerry will also be part of Mr Biden's National Security Council, thereby signalling the new administration's view of climate change as a real and urgent threat.
And finally, with Antony Blinken as secretary of state, America's top diplomat will be a Paris-schooled foreign policy expert and internationalist, who recently reaffirmed a future Biden administration's belief in "leadership, co-operation and democracy".
With those words, Mr Blinken, a guitarist in his own rock band, is playing mood music that chimes with the hopes of many around the world.
The recent G20 summit of the world’s most powerful economies, hosted virtually by Saudi Arabia, highlighted the strength and expectations of multilateralism and the rules that have defined the global postwar order.
Other than Mr Trump, G20 leaders pledged to lead a global battle against the coronavirus crisis and to help poorer countries obtain vaccines and treatments, as well as debt relief.
The new dulcet tones being heard are apparent in other geopolitical spheres as well. Just days ago, Fu Ying, a senior Chinese government official and one of the highest-ranking women in the country, called for the Sino-American relationship to be refreshed.
Bemoaning “the politicisation of even people-to-people exchanges”, Ms Fu suggested a new way, “a relationship of co-opetition,” which would address each country’s specific concerns. There are indications that as president, Mr Biden may employ a different style and process from Mr Trump in his approach to China.
The overt and covert co-operative ambition and diversity of the US president-elect’s cabinet has already been foreshadowed elsewhere.
Earlier this month, New Zealand appointed its first indigenous female foreign minister, Nanaia Mahuta, a Maori who wears a distinctive traditional tattoo on her chin. And nearly half of New Zealand's newly elected parliament is female, which offers a hopeful template for levelling up in terms of gender inequality.
Clearly, there is much to be thankful for even in 2020 but most of all with news on vaccine development.
When the pandemic was declared by the World Health Organisation in March, it was hard to imagine there would be a cure for Covid-19 by year-end. But three effective vaccines have emerged.
Hearteningly for lower-and middle-income countries, one of the vaccines is cheaper and easier to distribute than the others.
All three vaccines are spurring hopes for a global economic reopening of trade, economic activity and a shared communal life as we once knew it.
Donald and Melania Trump depart after the turkey pardon at the White House. AFP
Despite the pandemic and political turbulence then, there is much to be grateful for. Perhaps the story is best told with brevity and factfulness. Something along the lines of the six-word story challenge supposedly issued to Ernest Hemingway.
There can be many worlds in one short sentence. A six-word take for Thanksgiving 2020 would embrace a sweeping view of the highs and lows of an extraordinary year. I offer two suggestions:
“Lockdowns kindle new lust for life.”
And
“It’s rough, but now nearly over?”
Rashmee Roshan Lall is a columnist for The National
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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.
UAE results Lost to Oman by eight runs Beat Namibia by three wickets Lost to Oman by 12 runs Beat Namibia by 43 runs
UAE fixtures Free admission. All fixtures broadcast live on icc.tv
Tuesday March 15, v PNG at Sharjah Cricket Stadium Friday March 18, v Nepal at Dubai International Stadium Saturday March 19, v PNG at Dubai International Stadium Monday March 21, v Nepal at Dubai International Stadium
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim Started: established in 2016 and launched in July 2017 Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand Sector: FinTech, wealth management Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021 Current staff: more than 160 employees Stage: series D Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
How to avoid crypto fraud
Use unique usernames and passwords while enabling multi-factor authentication.
Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
Avoid suspicious social media ads promoting fraudulent schemes.
Only invest in crypto projects that you fully understand.
Critically assess whether a project’s promises or returns seem too good to be true.
Only use reputable platforms that have a track record of strong regulatory compliance.
Store funds in hardware wallets as opposed to online exchanges.
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
Abramovich London
A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.
A three-storey penthouse at Chelsea Waterfront bought for £22 million.
Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.
17,000 square metres is the length of the stainless steel facade
14 kilometres is the length of LED lights used on the facade
1,024 individual pieces make up the exterior
7 floors in all, with one for administrative offices
2,400 diagonally intersecting steel members frame the torus shape
100 species of trees and plants dot the gardens
Dh145 is the price of a ticket
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities. Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids. Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
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.”
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)