US President Joe Biden was last week hit with a nasty double whammy: the launch of an impeachment inquiry in the House of Representatives and the indictment of his son, Hunter. The impeachment inquiry may ultimately prove less of a headache. This is hardly the first such probe, but it is the only instance in which the House has launched one on the basis of no evidence.
No break-ins and erased tapes. No blue dress. No shaking down of foreign leaders. No assault on Congress. Nothing.
After House Speaker Kevin McCarthy announced that he had unilaterally created the inquiry – after months of vowing never to do so without a vote of the full House – Republicans struggled mightily to explain its rationale. Representative Nancy Mace, in particular, gave numerous TV interviews in which she insisted that there was ample evidence of bribery or corruption associated with Mr Biden, but was unable to point to anything in particular. Asked by CNN's Kaitlin Collins if such an inquiry didn't need to be based on evidence, Ms Mace gave the game away by replying, “Well, that’s what the inquiry is for. It’s to get more evidence.”
Representative Michael McCaul insisted: "We don't have the evidence now, but we may find it later.” That’s highly reminiscent of Donald Trump's attorney Rudolph Giuliani saying to an Arizona official about his own overwrought allegations of fraud in the 2020 election: “We’ve got lots of theories. We just don’t have the evidence.”
The impeachment push against Mr Biden is so weak that Mr McCarthy had to be forced to launch it by Republican right-wing extremists. Both the Speaker and many GOP representatives from centrist districts will surely be hoping that whatever hearings and other measures are undertaken, they drag on indefinitely and without much fanfare. Otherwise, there's every danger of a significant public backlash if the country gets the sense that this is baseless, frivolous and partisan, and worse – in part because it's true – that it's simple automatic payback on behalf of the twice-impeached Mr Trump.
Republicans have been diligently digging around Mr Biden and his son since last year's midterms and have discovered absolutely nothing directly connecting the president with the financial dealings of his formerly drug-addicted adult child. It's largely been a campaign of innuendo, elaborating unproven criminal or unethical dealings, apart from the younger Mr Biden's evident and unsavoury, but sadly typical, willingness to try to profit from his last name.
Right-wingers then suggest that the President must have also been involved in dealings that were not merely unsavoury or even unethical but downright illegal. Based on this chain of groundless implications, they have made a fetish out of the preposterous phrase "the Biden crime family", as if the whole clan is corrupted and constitutes the equivalent of a Mafia gang. This creates a huge contradiction in Republican messaging: Mr Biden cannot simultaneously be the mastermind controlling a multinational criminal enterprise and a doddering, senile old fool.
The impeachment push against Mr Biden is so weak that McCarthy had to be forced to launch it by Republican right-wing extremists
Their inquiries thus far have not only failed to uncover evidence of any of this, they frequently left Republican congressional leaders looking desperate and foolish. So, unless Mr Biden actually has something to hide, which seems very improbable, he likely has little to fear politically from this impeachment agenda, which is liable to deliver some significant self-inflicted wounds to his Republican adversaries or fade into the background.
That's much less true of the indictment and likely upcoming trial of Hunter. The president's son is accused of purchasing and possessing a gun while using outlawed narcotics and lying on a gun purchase form about his use of these controlled substances. He had reached a plea deal with a Trump-appointed prosecutor that probably would have allowed him to avoid incarceration, but that was thrown out as insufficient by a judge. Because he and his lawyers continued to insist that the plea deal was binding, he has been indicted.
In a rational world, being patiently faithful and forgiving of the foibles of a wayward and drug-addicted child wouldn't be considered a stain on any parent's character. Hunter Biden, after all, has never run for or held office, or occupied any government position, and even Republicans don't suggest Mr Biden was responsible for his son's drug use or alleged gun violations. Indeed, the strident protection of gun ownership with few restrictions by the ultra-conservative present Supreme Court may provide Hunter's legal team with their most potent arguments.
But politics is rarely rational. Mr Trump and his followers claim the gun charges were brought precisely because the president is obviously not involved in them while implying more serious charges were avoided because they could have implicated Mr Biden. None of that is based on any evidence either.
Still, many Americans may gather over the next 14 months before the 2024 election that Mr Trump is on trial for something or other, and so is Mr Biden's son, and therefore there is some kind of equivalency. The fact that the charges brought against Mr Trump and Hunter Biden are essentially on opposite ends of the spectrum of nonviolent criminal offences – with the former president facing some of the most serious imaginable accusations and the incumbent’s son accused of minor technical violations of the law – may be lost on a great many people, even those who don't depend on Fox News for current events consumption.
Some anxious Democrats are renewing their appeals to Mr Biden not to run for re-election, citing his age and the fact that he is currently running neck and neck with Mr Trump in polls. His supporters retort that Mr Trump is nearly as old, and frequently makes rather less sense when speaking in public, and that virtually every first-term president is in relative polling parity against hypothetical opponents a year out from re-election.
Yet the indictment of his son is a genuine headache as well as heartache for the President. It will deprive Republicans of plausible claims that Hunter is receiving preferential treatment from the Justice Department, but it sets up a potential, albeit entirely invalid, offset to Mr Trump's own coming trials.
Still, with inflation down and GDP up, plus an impressive string of domestic legislative and foreign policy successes, Mr Biden still seems on course to win a second term, although most Americans, including most Democrats, would prefer someone younger. He certainly wouldn't want to change political, let alone legal, positions with Mr Trump.
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Global state-owned investor ranking by size
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Japan
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Norway
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Canada
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Your rights as an employee
The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.
The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.
If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.
Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.
The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.
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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Batti Gul Meter Chalu
Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5
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
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Company%20Profile
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You Were Never Really Here
Director: Lynne Ramsay
Starring: Joaquim Phoenix, Ekaterina Samsonov
Four stars
Super 30
Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
Rating: 3.5 /5
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
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Fuel economy: 6.7L / 100km (estimate)
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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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Squad: Majed Naser, Abdulaziz Sanqour, Walid Abbas, Khamis Esmail, Habib Fardan, Mohammed Marzouq (Shabab Al Ahli Dubai), Khalid Essa, Muhanad Salem, Mohammed Ahmed, Ismail Ahmed, Ahmed Barman, Amer Abdulrahman, Omar Abdulrahman (Al Ain), Ali Khaseif, Fares Juma, Mohammed Fawzi, Khalfan Mubarak, Mohammed Jamal, Ahmed Al Attas (Al Jazira), Ahmed Rashid, Mohammed Al Akbari (Al Wahda), Tariq Ahmed, Mahmoud Khamis, Khalifa Mubarak, Jassim Yaqoub (Al Nasr), Ali Salmeen (Al Wasl), Yousef Saeed (Sharjah), Suhail Al Nubi (Baniyas)
UAE currency: the story behind the money in your pockets
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Benefits of first-time home buyers' scheme
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- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
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Transmission: 8-speed auto
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.