PANMUNJOM, SOUTH KOREA - JUNE 30: (SOUTH KOREA OUT): A handout photo provided by Dong-A Ilbo of North Korean leader Kim Jong Un and U.S. President Donald Trump inside the demilitarized zone (DMZ) separating the South and North Korea on June 30, 2019 in Panmunjom, South Korea. U.S. President Donald Trump and North Korean leader Kim Jong-un briefly met at the Korean demilitarized zone (DMZ) on Sunday, with an intention to revitalize stalled nuclear talks and demonstrate the friendship between both countries. The encounter was the third time Trump and Kim have gotten together in person as both leaders have said they are committed to the "complete denuclearization" of the Korean peninsula. (Photo by Handout/Dong-A Ilbo via Getty Images)
North Korean leader Kim Jong-un and US President Donald Trump meeting inside the Demilitarised zone (DMZ) separating South and North Korea. Getty Images

Twitter diplomacy can only take you so far



Just two days after making an impromptu offer on Twitter to meet Kim Jong-un, Donald Trump became the first US president in history to set foot in North Korea. It was the third meeting between the two leaders – all of which are without precedent – and spoke to Mr Trump's proclivity for spectacle over policy.

The chance of anything tangible emerging from the meeting is negligible. Just three months after they met in Hanoi – a summit that ended in failure, with Mr Trump departing before a joint press conference – North Korea launched two short-range missiles, ending a hard-won pause in ballistic missile testing.

Still, there is some value in Mr Trump's Twitter diplomacy. If nothing else, a handshake in the demilitarised zone between the two Koreas is a powerful symbol. "I saw that tweet and it felt like you've sent a flower of hope for the Korean Peninsula," South Korean president Moon Jae-in told Mr Trump.

Coming off the back of the G20 in Osaka, where the US leader agreed to de-escalate trade tensions with China’s Xi Jinping, this has been a brief window of multilateralism. Still, we must ask ourselves what is lost when Mr Trump tears up the diplomatic rulebook.

Like most industries, diplomacy is being altered by technology. The job of a diplomat becomes harder when ministers communicate directly with one another. World leaders, too, have been known to trade WhatsApp messages with their closest allies. Mr Trump pursues Twitter diplomacy like no other, yet his tweets rarely produce meaningful outcomes. To do that, his aides and advisers fall back on conventional diplomatic channels.

As the former UK ambassador to Lebanon, Tom Fletcher, wrote on these pages: "We diplomats are trying to provide the lubricant in the system as continents, states, armies and ideas rub up against each other." Anyone with experience of cutting trade deals or negotiating peace will tell you that the devil is in the detail.

The world is changing around us – and so is politics. One need look only at the current Conservative party leadership contest in the UK, where candidates have crafted wacky social media presences, to see that Mr Trump has blazed a trail. It is hard to imagine future US leaders not using Twitter in a similar – albeit less rash – fashion.

However, there is still something to be said for an international system based on patience, mediation and sacrifice, rather than ego. In the digital age, our diplomats should still bring good judgement and expertise to the negotiating table. Mr Trump's bluster might open avenues for interaction – particularly in the curious case of North Korea – but we need conventional diplomatic channels to achieve tangible results.

There is an adage that if the United Nations did not exist, we would have to invent it. It appears the fractious world of Twitter will not replace it just yet.

CONFIRMED LINE-UP

Elena Rybakina (Kazakhstan)
Ons Jabeur (Tunisia)
Maria Sakkari (Greece)
Barbora Krejčíková (Czech Republic)
Beatriz Haddad Maia (Brazil)
Jeļena Ostapenko (Latvia)
Liudmila Samsonova
Daria Kasatkina 
Veronika Kudermetova 
Caroline Garcia (France) 
Magda Linette (Poland) 
Sorana Cîrstea (Romania) 
Anastasia Potapova 
Anhelina Kalinina (Ukraine)  
Jasmine Paolini (Italy) 
Emma Navarro (USA) 
Lesia Tsurenko (Ukraine)
Naomi Osaka (Japan) - wildcard
Emma Raducanu (Great Britain) - wildcard

WHAT MACRO FACTORS ARE IMPACTING META TECH MARKETS?

• Looming global slowdown and recession in key economies

• Russia-Ukraine war

• Interest rate hikes and the rising cost of debt servicing

• Oil price volatility

• Persisting inflationary pressures

• Exchange rate fluctuations

• Shortage of labour/skills

• A resurgence of Covid?

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

57 Seconds

Director: Rusty Cundieff
Stars: Josh Hutcherson, Morgan Freeman, Greg Germann, Lovie Simone
Rating: 2/5

Specs: 2024 McLaren Artura Spider

Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

EA Sports FC 24

Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, PC and Xbox One
Rating: 3.5/5

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

The specs

Engine: 3.5-litre V6

Power: 272hp at 6,400rpm

Torque: 331Nm from 5,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.7L/100km

On sale: now

Price: Dh149,000

 

Top 10 most competitive economies

1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway

The biog

Full name: Aisha Abdulqader Saeed

Age: 34

Emirate: Dubai

Favourite quote: "No one has ever become poor by giving"

The specs: 2018 Mitsubishi Eclipse Cross

Price, base / as tested: Dh101,140 / Dh113,800


Engine: Turbocharged 1.5-litre four-cylinder


Power: 148hp @ 5,500rpm


Torque: 250Nm @ 2,000rpm


Transmission: Eight-speed CVT


Fuel consumption, combined: 7.0L / 100km

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

COMPANY PROFILE

Company: Vault
Started: June 2023
Co-founders: Bilal Abou-Diab and Sami Abdul Hadi
Based: Abu Dhabi
Licensed by: Abu Dhabi Global Market
Industry: Investment and wealth advisory
Funding: $1 million
Investors: Outliers VC and angel investors
Number of employees: 14

The Letter Writer

Director: Layla Kaylif

Stars: Eslam Al Kawarit, Rosy McEwen, Muhammad Amir Nawaz

Rating: 2/5

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

Results

5pm: Wathba Stallions Cup Maiden (PA) Dh 70,000 (Dirt) 1,000m, Winner: Hazeem Al Raed, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)

5.30pm: Handicap (PA) Dh 85,000 (D) 1,000m, Winner: Ghazwan Al Khalediah, Hugo Lebouc, Helal Al Alawi

6pm: Maiden (PA) Dh 70,000 (D) 1,400m, Winner: Dinar Al Khalediah, Patrick Cosgrave, Helal Al Alawi.

6.30pm: Handicap (TB) Dh 70,000 (D) 1,600m, Winner: Faith And Fortune, Sandro Paiva, Ali Rashid Al Raihe.

7pm: Maiden (PA) Dh 70,000 (D) 1,600m, Winner: Only Smoke, Bernardo Pinheiro, Abdallah Al Hammadi.

7.30pm: Handicap (PA) Dh 70,000 (D) 1,600m, Winner: AF Ramz, Saif Al Balushi, Khalifa Al Neyadi.

8pm: Maiden (PA) Dh 70,000 (D) 2,000m, Winner: AF Mass, Tadhg O’Shea, Ernst Oertel.

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

The specs

Engine: 3.0-litre 6-cyl turbo

Power: 374hp at 5,500-6,500rpm

Torque: 500Nm from 1,900-5,000rpm

Transmission: 8-speed auto

Fuel consumption: 8.5L/100km

Price: from Dh285,000

On sale: from January 2022

Results

2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)

2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer

3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi

3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash

4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.

4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson

Frida

Director: Carla Gutierrez

Starring: Frida Kahlo

Rating: 4/5

Our family matters legal consultant

Name: Hassan Mohsen Elhais

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