Leaders around the world are preparing for the possibility of US Vice President Kamala Harris winning this year’s presidential election against Donald Trump.
Only a month ago, Mr Trump seemed to be in a strong position to defeat his then opponent, President Joe Biden, in November. But a poor debate performance forced Mr Biden to step aside for Ms Harris, who has since risen in the polls to give the Democratic Party a fighting chance.
This shift has left the Republican Party and its presidential nominee blindsided, frustrated and perhaps even resentful as Democrats managed to reinvent themselves. And while Mr Trump’s chance of winning remains high, world leaders are also preparing for a possible Harris inauguration in January.
But governments around the world have little insight into Ms Harris’s thinking, given her low profile as Mr Biden’s Vice President and a lack of involvement in foreign affairs.
Last week’s Democratic National Convention in Chicago, where Ms Harris officially accepted the nomination to be the party’s presidential candidate, did provide some clues on where she might stand on the most pressing international issues of the day. She said, for example, that she will continue Mr Biden’s policies on Israel and Ukraine in their respective theatres of war.
Her remarks will have been registered in Moscow.
For a while, there has been talk that the Russian government would prefer Mr Trump because of his stated intention, and plans, to end the Ukraine war immediately. The Republican appears less committed than Mr Biden to expanding Nato membership as well as strengthening American support for Ukraine. That said, Ms Harris doesn’t appear to be as focused on Russia as either Mr Biden or Mr Trump is because her priorities are more domestic.
At the same time, decision-makers in Moscow and elsewhere will be wary of Mr Trump’s unpredictable nature – at times aggressive and at other times conciliatory – because his decisions can be impulsive and often unilateral.
Conversely, Ms Harris might be seen as someone who will try to avoid making mistakes, at least compared to more seasoned politicians like Mr Biden and Mr Trump.
Her image is that of a cheerful leader who brings hope and carries the banner of “moving forward” and “not going back”. Although she may seem untested, her personal history reveals a shrewd operator, capable of quickly adapting to what her ambition demands. Additionally, she is likely to be a diligent student of the issues and will surround herself with an experienced team.
One challenge for Ms Harris would be to avoid following in the steps of Barack Obama, particularly on Middle East strategy. The former president pursued policies that were at odds with parts of the Arab world, including giving in to Iran’s demands on maintaining its regional hegemony during talks to limit Tehran’s nuclear weapons programme.
Things changed during the Biden presidency, as he was forced to repair relations with key Arab powers to counter the rising influence of both China and Russia in the region. But the challenge for Ms Harris will be to handle Iran in scenarios of both peace and war.
If negotiations to secure an immediate ceasefire in Gaza collapse and a regional war breaks out between Iran and Israel, Washington has stated that the US would be forced to ally with the latter. If war is avoided, what will the nature of US-Iran relations be – given the compromises made under the Obama and Biden administrations – in exchange for helping America avoid being dragged into a wider conflict?
We don’t yet know if Ms Harris will automatically continue the Obama-Biden policy of appeasing Tehran, especially if it means tolerating its proxies’ activities across the region. Will she take a harder line than her Democratic predecessors did?
There is every reason to believe that Mr Trump will raise this question to Ms Harris, especially with the former president having adopted a policy of bankrupting Iran through sanctions and rejecting any notion of allowing Tehran a free hand with its nuclear programme.
Iran, for its part, appears to be preparing for either electoral outcome. While its preference is likely to be a Harris win, President Masoud Pezeshkian has spoken about the importance of engaging Mr Trump by appealing to his interest in making deals and doing business.
Key Arab leaders, meanwhile, have maintained relations with Mr Trump’s team, particularly his son-in-law Jared Kushner, who played an important role in securing the Abraham Accords. But they have also welcomed the restoration of relations with Democrats.
The outcome of the Gaza negotiations is almost certain to affect the election.
If a deal to end the war materialises, Ms Harris will seek to share some of the credit. But the problem is that the Biden-Harris administration struggles with its strategy, adopting an incremental but essentially patchwork approach to addressing the conflict. This so-called pragmatic approach may not save Ms Harris if a deal falls through between now and election day. On-the-ground developments in neighbouring Lebanon could influence the outcome, too.
Also to keep in mind would be the political fates of the Gaza war’s chief prosecutors: Israeli Prime Minister Benjamin Netanyahu and Hamas leader Yahya Sinwar.
Both men are likely to seek guarantees that they will not be targeted if and when an agreement is reached. But as long as they continue with their demands, any solutions reached will remain temporary, partial and patchwork, while the people of Gaza continue to suffer, and Hezbollah sacrifices the fate of millions of Lebanese in support of Hamas.
In her acceptance speech last week, Ms Harris came down hard on Hamas while pledging to protect Israel and the latter’s right to defend itself. She has promised to work towards the release of hostages held by the group and a ceasefire in Gaza. She also supported the Palestinians’ right to self-determination and to live with dignity, which drew applause from the convention attendees.
At the same time, organisers prevented pro-Palestinian speeches from being delivered from the Democratic Party’s platform. Which wasn’t surprising, because this is politics – and politics is always played in the heat of a tight election campaign.
With just a few weeks left before this campaign ends, the rest of the world has an idea of what to expect from a Trump presidency. But it’s just as true that the rest of the world – including Mr Trump himself – knows very little about Ms Harris will do if she ends up becoming the first female president in American history.
UFC%20FIGHT%20NIGHT%3A%20SAUDI%20ARABIA%20RESULTS
%3Cp%3E%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20card%3Cbr%3EMiddleweight%3A%3C%2Fstrong%3E%0D%3Cbr%3ERobert%20Whittaker%20defeated%20Ikram%20Aliskerov%20via%20knockout%20(Round%201)%0D%3Cbr%3E%3Cstrong%3EHeavyweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EAlexander%20Volkov%20def%20Sergei%20Pavlovich%20via%20unanimous%20decision%0D%3Cbr%3E%3Cstrong%3EMiddleweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EKelvin%20Gastelum%20def%20Daniel%20Rodriguez%20via%20unanimous%20decision%0D%3Cbr%3E%3Cstrong%3EMiddleweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EShara%20Magomedov%20def%20Antonio%20Trocoli%20via%20knockout%20(Round%203)%0D%3Cbr%3E%3Cstrong%3ELight%20heavyweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EVolkan%20Oezdemir%20def%20Johnny%20Walker%20via%20knockout%20(Round%201)%0D%3Cbr%3E%3Cstrong%3EPreliminary%20Card%0D%3Cbr%3ELightweight%3A%3C%2Fstrong%3E%0D%3Cbr%3ENasrat%20Haqparast%20def%20Jared%20Gordon%20via%20split%20decision%0D%3Cbr%3E%3Cstrong%3EFeatherweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EFelipe%20Lima%20def%20Muhammad%20Naimov%20via%20submission%20(Round%203)%0D%3Cbr%3E%3Cstrong%3EWelterweight%3A%3C%2Fstrong%3E%0D%3Cbr%3ERinat%20Fakhretdinov%20defeats%20Nicolas%20Dalby%20via%20split%20decision%0D%3Cbr%3E%3Cstrong%3EBantamweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EMuin%20Gafurov%20def%20Kang%20Kyung-ho%20via%20unanimous%20decision%0D%3Cbr%3E%3Cstrong%3ELight%20heavyweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EMagomed%20Gadzhiyasulov%20def%20Brendson%20Ribeiro%20via%20majority%20decision%0D%3Cbr%3E%3Cstrong%3EBantamweight%3A%3C%2Fstrong%3E%0D%3Cbr%3EChang%20Ho%20Lee%20def%20Xiao%20Long%20via%20split%20decision%3C%2Fp%3E%0A
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.”
Mohammed bin Zayed Majlis
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INDIA SQUADS
India squad for third Test against Sri Lanka
Virat Kohli (capt), Murali Vijay, Lokesh Rahul, Shikhar Dhawan, Cheteshwar Pujara, Ajinkya Rahane, Rohit Sharma, Wriddhiman Saha, Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Vijay Shankar
India squad for ODI series against Sri Lanka
Rohit Sharma (capt), Shikhar Dhawan, Ajinkya Rahane, Shreyas Iyer, Manish Pandey, Kedar Jadhav, Dinesh Karthik, Mahendra Singh Dhoni, Hardik Pandya, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Jasprit Bumrah, Bhuvneshwar Kumar, Siddarth Kaul
The specs: 2018 Jaguar F-Type Convertible
Price, base / as tested: Dh283,080 / Dh318,465
Engine: 2.0-litre inline four-cylinder
Transmission: Eight-speed automatic
Power: 295hp @ 5,500rpm
Torque: 400Nm @ 1,500rpm
Fuel economy, combined: 7.2L / 100km
Elvis
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How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
Three ways to get a gratitude glow
By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.
- During your morning skincare routine, name five things you are thankful for about yourself.
- As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
- In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
BIG SPENDERS
Premier League clubs spent £230 million (Dh1.15 billion) on January transfers, the second-highest total for the mid-season window, the Sports Business Group at Deloitte said in a report.
If you go
- The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
- The Double Tree by Hilton in Novosibirsk ( 7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
- The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as Altair-Tour ( 7 383 2125115 ) offer hiking and adventure packages.
JOKE'S%20ON%20YOU
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Results:
Men's wheelchair 800m T34: 1. Walid Ktila (TUN) 1.44.79; 2. Mohammed Al Hammadi (UAE) 1.45.88; 3. Isaac Towers (GBR) 1.46.46.
Ad Astra
Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
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