FILE - In this Dec. 20, 2017, file photo, House Speaker Paul Ryan of Wis., back left center, and other lawmakers react as President Donald Trump speaks about the passage of the tax overhaul bill on the South Lawn at the White House in Washington. Manuel Balce Ceneta / AP
FILE - In this Dec. 20, 2017, file photo, House Speaker Paul Ryan of Wis., back left center, and other lawmakers react as President Donald Trump speaks about the passage of the tax overhaul bill on thShow more

The US president makes one policy ... and the government implements another



In a week in which the headlines out of Washington DC were dominated by the president of the United States alienating all of Africa and a good chunk of the Americas, you would think that the big message to foreign leaders was that the Donald Trump was out of control.  It is a view that only seemed to be confirmed by the fact that other stories during the week included the release of a major book asserting he was not mentally fit for the job and, on Friday, revelations Mr Trump made hush money payments to a glamour model.

But no need to scurry down to your bomb shelters as the people of Hawaii did this past weekend fearing that having an unhinged commander-in-chief of the world's largest nuclear arsenal in close proximity to the very "big button" he has bragged about could only end in disaster. Because the good news from America is that the president is not only out of control of himself, but he does not actually appear to be in control of his own government, which in this case may be the best news to come out of Washington, DC since Mr Trump assumed office a year ago.

For example, in other news of the past week, Mr Trump announced that despite his repeated threats to pull out of the Iran nuclear deal, he would once again waive sanctions against that country. While he said this waiver would be the last one he would grant, evidence suggests otherwise. In fact, based on the current state of legal investigations into wrong-doing by Mr Trump and those around him, the plummeting political popularity of the president and his Republican party, and an emerging pattern of Mr Trump not being able to follow through on many of his threats and promises, it is probably a good bet that the Iran nuclear deal is likely to be around and unchanged longer than is Mr Trump himself.

The reason Mr Trump ultimately decided to extend the Iran sanctions waiver yet again is that every senior national security official in the US government opposed the president’s position as did many in his own party on Capitol Hill. While many of these individuals harbour concerns about the specifics of the nuclear accord struck during the Obama administration, they recognise that for the US to pull out of it unilaterally would likely do more to isolate the US than it would to put pressure on Iran.

But this is not an isolated incident. The president recently asserted he would cut off payments to the Palestinians but within days, the state department quietly confirmed that payments through the UNRWA programme would continue. This echoed actions following the president's announcement that the US would recognise Jerusalem as the capital of Israel but within days the state department indicated that moving the embassy would take a very long time, that it certainly would not happen within 2018 and that they would continue to not recognise people born in Jerusalem in official documents as having been born in Israel.

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The infamous outburst about Africa took place at a White House meeting designed to address US immigration issues. During the negotiations around these issues  the White House has increasingly distanced itself from what is perhaps the signature issue on which Mr Trump ran for president: building a wall between the US and Mexico and having the Mexicans pay for it. The Mexicans repeatedly rejected this idea. And more recently, the president has begun to say that he would get it paid for via other means including indirectly (and implausibly) by simply striking a better Nafta deal with Mexico. This week, the president also began to back away from the idea that a wall itself was the key to border security—largely because no expert actually thinks it is. So the promise to build a wall and have Mexico pay for it is completely intact, except for the part about the wall and the part where Mexico pays for it.

The president famously said he would ban LGBT troops from the US military. The department of defence quietly said, "no." The president said negotiations with North Korea were fruitless. The state department quietly said, "no." Time after time, the president has sought action from his justice department or from Congress and even with his own officials in place, he has not got what he wanted.

There used to be a saying in China which, badly translated, claimed: “Beijing makes policy, the provinces make other policies.”  In Washington DC, this week it was once again confirmed that while the president appears to make policy in his tweets and speeches, the rest of the government is inclined to make and implement completely different policies, many the opposite of those offered up by their nominal leader.

Given how out of control this particular leader seems to be, this should be seen as a very good thing indeed.

David Rothkopf is CEO of The Rothkopf Group, senior fellow at the Johns Hopkins School of Advanced International Studies, a visiting scholar at the Carnegie Endowment for International Peace and most recently author of The Great Questions of Tomorrow

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.5-litre%20twin-turbo%20V6%20%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E456hp%20at%205%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E691Nm%20at%203%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%20%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E14.6L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh349%2C545%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
MATCH INFO

Bangla Tigers 108-5 (10 ovs)

Ingram 37, Rossouw 26, Pretorius 2-10

Deccan Gladiators 109-4 (9.5 ovs)

Watson 41, Devcich 27, Wiese 2-15

Gladiators win by six wickets

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHayvn%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EChristopher%20Flinos%2C%20Ahmed%20Ismail%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EAbu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Efinancial%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3Eundisclosed%3Cbr%3E%3Cstrong%3ESize%3A%3C%2Fstrong%3E%2044%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eseries%20B%20in%20the%20second%20half%20of%202023%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EHilbert%20Capital%2C%20Red%20Acre%20Ventures%3C%2Fp%3E%0A
The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

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.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Our family matters legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.