WASHINGTON // It may have been a simple miscommunication, a well-intentioned statement to project a positive message ahead of a visit to an important ally.
But if it were, the remark attributed to an unnamed policy adviser to Mitt Romney about America's and Britain's shared "Anglo-Saxon heritage" was badly phrased and even more badly handled in its aftermath.
It will also now be added to a growing list of gaffes that should be worrying for Mr Romney, the Republican candidate for the US presidency who is seeking to defeat the country's first African-American president, Barack Obama, in November.
"We are part of an Anglo-Saxon heritage, and he feels that the special relationship is special," the Daily Telegraph quoted Mr Romney's adviser as saying, "The White House didn't fully appreciate the shared history we have."
The newspaper said the adviser's remarks "may prompt accusations of racial insensitivity".
Mr Romney also managed to annoy British prime minister David Cameron over remarks the country might not be completely ready to host the Olympic Games even as he prepared to attend today's opening ceremony. Mr Romney also questioned whether the people of the UK would "come together" for the Games.
Mr Cameron said he would make the point when the two met that Britons "are extremely good at welcoming people".
It marks an inauspicious start for Mr Romney as he tries to burnish his foreign policy credentials. The unnamed aide's remark received the kind of coverage in the US that Mr Romney would have hoped to avoid. A cartoon in the Tucson Sentinel pulled no punches about the implication of the remark.
The cartoon depicted Mr Romney saying: "We are part of an Anglo-Saxon heritage … We feel that the special relationship is special." The caption says: "Vote Romney … And put the white back in White House".
Mr Romney is already toiling under an image that he is too rich and too elitist to care for middle America, said Richard Benedetto, a professor of journalism at American University and a former White House correspondent.
His "gaffes" Mr Benedetto said, "often play straight into what has become the cliché that he is this rich, out-of-touch, white guy".
Mr Romney, a multimillionaire, has made it easy for the Obama campaign to mock him.
In a country struggling with high unemployment and record levels of poverty, Mr Romney challenged a Republican rival to a US$10,000 (Dh36,730) bet live on TV. He has said he liked "being able to fire people" and called corporations "people". Campaigning in Michigan Mr Romney told autoworkers his wife drives "a couple of Cadillacs". Previously the former venture capitalist who is worth about US$200 million had told an audience of unemployed Floridians that he was now also unemployed.
Nevertheless, Mr Benedetto suggested it was too early in the campaign for such remarks to have real effect. The fact Mr Romney is rich is already now factored in to their calculations, he said.
More damaging was the way his campaign handled the aftermath of the Anglo-Saxon heritage remark, said Mr Benedetto. Reminiscent of Mr Romney's inability to bat away controversy over not releasing all his tax returns, it suggested his campaign has a hard time "getting rid of problems quickly".
okarmi@thenational.ae
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
UAE currency: the story behind the money in your pockets
The five pillars of Islam
Mohammed bin Zayed Majlis
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
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.”
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
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KILLING OF QASSEM SULEIMANI
The five pillars of Islam
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The%20specs
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If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).