A flag displaying Donald Trump hangs over a highway overpass in Lafayette, California, on Sunday. Can Trump unite a divided America? AP
A flag displaying Donald Trump hangs over a highway overpass in Lafayette, California, on Sunday. Can Trump unite a divided America? AP
A flag displaying Donald Trump hangs over a highway overpass in Lafayette, California, on Sunday. Can Trump unite a divided America? AP
A flag displaying Donald Trump hangs over a highway overpass in Lafayette, California, on Sunday. Can Trump unite a divided America? AP


Donald Trump should seize the opportunity to rebrand himself


  • English
  • Arabic

July 15, 2024

This week, all eyes in America are on Donald Trump’s performance at the Republican National Convention, just as much as they were last week on incumbent President Joe Biden at the Nato summit in Washington.

An attempt on Mr Trump’s life over the weekend has re-energised his campaign and may take it in a new direction. It happened just after the Democratic Party faced a swell of new calls to reconsider Mr Biden’s own candidacy in light of more questions over his mental acuity.

The two men’s performances at this stage of the race will have consequences beyond domestic politics, affecting US relations with Russia, China, Nato countries and the Middle East – from the conflict in Ukraine and the bloody war in Gaza to the new Cold War between the East and West.

But first let’s pause at the Nato summit in Washington. The event itself may not have been of much interest to American voters, but everyone was watching the news conference that immediately followed in order to gauge Mr Biden’s performance in front of reporters. It was muddled, sparking fresh concerns about his advanced age.

But there was plenty of substance, too. Mr Biden sees the evolution of Nato into a strong, confident alliance as a success story for his presidency and a historic milestone for himself. Last week, while people were preoccupied with his gaffes and the possibility of his stepping down, Nato was making significant decisions, expanding its strategic presence worldwide and mobilising huge support for Ukraine, including providing F-16 aircraft. Germany agreed to host missiles on its soil. And the alliance signalled that it could allow Ukraine to use western weapons to strike deep into Russia, not just at the borders. It also clarified its stance toward Russia and China, calling Russia the primary adversary and China the secondary threat.

This week, all eyes in America are on Trump’s performance at the Republican National Convention, just as much as they were last week on Biden at the Nato summit

The summit provided significant political and strategic ammunition for Mr Biden’s campaign regarding his foreign policy credentials, as he tries to present the Democratic Party’s vision for America’s future and role in the world.

Mr Biden’s team is working tirelessly to correct some of his previous mistakes and has become more assertive in insisting that the war in Gaza must stop, even if temporarily. CIA Director William Burns and top Middle East adviser Brett McGurk are insisting on achieving a breakthrough in the Gaza negotiations by next week. This success would be crucial for Mr Biden at this moment.

It is worth noting that the victory of a more moderate candidate in Iran’s recent presidential election probably reflects a preference in the regime for the Democratic Party to remain in the White House. Mr Biden’s team has conveyed to the Iranians that the way to achieve this is by facilitating a ceasefire in Gaza, where Iran has influence over Hamas.

Mr Trump, meanwhile, remains largely removed from foreign policy issues during the election season, besides articulating his loyalty to Israel (a position shared by both the Republicans and Democrats). His primary interests are domestic, from immigration to the economy, to the deep divisions within American society.

In typical fashion, he has reacted to the unfolding Democratic drama surrounding Mr Biden’s advanced age by mocking the President. This is a disrespectful strategy – a direct shot at Mr Biden’s dignity. We all have loved ones who suffer the effects of old age or other issues that affect mental acuity. If Mr Trump doesn’t lay off, this strategy could backfire with voters sooner or later.

Mr Trump’s sense of superiority is no secret. He is inherently insular, arrogant and vainglorious. He does not believe in consultations with a team or agencies because he is impulsive by nature. None of this negates his sharp intelligence and extraordinary capabilities that brought him to the presidency in the first place and could indeed return him there.

But at the Republican National Convention, the world will be fixated on learning the impact of the lone gunman’s attempt to assassinate him. Has it tempered him or agitated him further?

His secret is not only understanding the art of deal-making but also being visionary at times, successfully negotiating understandings, swimming against the current and clarifying the consequences of hostilities without fear or hesitation.

One reason Mr Trump avoids making commitments and fixed promises is that he hates anything that binds his hands and restricts his freedom to make decisions whenever he wants. Advisers in the Republican Party and his close circle are counselling him to seize the opportunities in this week’s party convention presented by the turmoil within the Democratic Party and by the attempt on his life.

In other words, Mr Trump has an opportunity this week to rebrand from a figure shouting slogans to a calm, visionary leader. It would benefit him to present clear programmes that the American voter can understand and influence undecided voters who are sceptical about him and his populist rhetoric.

No matter what happens within the Democratic Party, whether Mr Biden insists on staying in the race or bows out, this is an opportunity for Mr Trump to emerge from the Republican National Convention with a different personality, turning away from mockery to a programme that convinces Americans of his soundness.

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The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Results

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The Baghdad Clock

Shahad Al Rawi, Oneworld

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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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F1 2020 calendar

March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick

UAE currency: the story behind the money in your pockets
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Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

HOW TO WATCH

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UAE currency: the story behind the money in your pockets
SERIE A FIXTURES

Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)

Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)

Monday Fiorentina v Genoa (11.45pm)

Updated: July 16, 2024, 12:09 PM