Obama and Romney cancel campaign appearances over Frankenstorm fallout


  • English
  • Arabic

COLUMBUS // Pulled back to Washington to address the storm pounding the East Coast just days before the presidential election, United States president Barack Obama passed his campaign banner yesterday on to the vice president, Joe Biden, and the man he has anointed his "Secretary of Explaining Stuff", the former president, Bill Clinton.

Mr Biden and Mr Clinton joined forces at a rally in the key battleground state of Ohio, where they sought to keep alive the Obama campaign strategy of combining rallies and other personal contact with a push for early voting by Democrats ahead of the November 6 election.

Mr Obama had cut short a campaign trip to Florida to deal with Hurricane Sandy. He cancelled a third day of campaigning because of the storm.

The White House says the president will not attend events scheduled for today in Ohio. He will remain in Washington to monitor the storm and the federal response. Mr Obama had already cancelled events on Monday and yesterday to be at the White House during the storm.

"We went to Florida last night and he got up this morning and called me and said, 'I gotta go back right now. This storm is getting out of hand, I gotta handle it,'" Mr Clinton told the crowd of 4,800 at the Covelli Centre, an ice rink in Youngstown. "And I said 'Mr President that is the right call'."

Mr Clinton evoked Mr Obama through stories and jokes, personalising the president while running through a list of arguments against the Republican candidate, Mitt Romney. Mr Clinton joked that the audience was "stuck" with him because his wife, US secretary of state Hillary Clinton, "has one of the two jobs in the government that doesn't permit you to be in politics".

Ohio is one of the "epicentres" of the election, according to Mr Biden, and both Mr Obama and Mr Romney had planned on blanketing the state in the final days leading up to the election.

"If we win Ohio, we win this election," Mr Biden said, pressing supporters to get out to vote.

Mr Romney has caught up with Mr Obama in national opinion polls and gained ground against the Democrat in surveys in Ohio too.

A Rasmussen Reports poll on Monday showed Mr Romney ahead by 50 per cent to 48 per cent.

The Republican also cancelled campaign events on Monday night and yesterday in Milwaukee, Iowa and Florida out of respect for the tens of millions in danger from Sandy.

The Democrats are sparing no effort to get people to the polls before election day, and many of their events in Ohio are targeted at building enthusiasm for early voting. According to Gallup, 15 per cent of the president's supporters have already voted and 33 per cent intend to vote early, compared with 17 per cent of Romney voters who have voted and 34 per cent planning to vote.

Even though Mr Biden delivered a rousing speech in Ohio, he could not completely escape the reach of the storm and had to cancel events scheduled there for yesterday.

Marilyn Ettinger, an Ohio woman standing inside the Covelli Centre as hail pounded outside, said she had already voted, but was worried that the storm would prevent others from doing the same. She had driven an hour for the event.

Ms Ettinger said she had already missed seeing Mr Obama at another event, in Cleveland, due to weather and was disappointed he would not be in Youngstown. "But the last time I saw Clinton was the last day before he won his second term, so I'm hoping that today I bring good luck to Obama."

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EPOPC%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2022%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAmna%20Aijaz%2C%20Haroon%20Tahir%20and%20Arafat%20Ali%20Khan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3Eart%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20u%3C%2Fstrong%3Endisclosed%20amount%20raised%20through%20Waverider%20Entertainment%3C%2Fp%3E%0A
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%206.7%E2%80%9D%20LPTO%20Amoled%2C%202412%20x%201080%2C%20394ppi%2C%20HDR10%2B%2C%20Corning%20Gorilla%20Glass%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Qualcomm%20Snapdragon%208%2B%20Gen%202%2C%20octa-core%3B%20Adreno%20730%20GPU%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F12GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20128%2F256%2F512GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2013%2C%20Nothing%20OS%202%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2050MP%20wide%2C%20f%2F1.9%20%2B%2050MP%20ultrawide%2C%20f%2F2.2%3B%20OIS%2C%20auto-focus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%20video%3A%3C%2Fstrong%3E%204K%20%40%2030%2F60fps%2C%201080p%20%40%2030%2F60fps%3B%20live%20HDR%2C%20OIS%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2032MP%20wide%2C%20f%2F2.5%2C%20HDR%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%20video%3A%3C%2Fstrong%3E%20Full-HD%20%40%2030fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%204700mAh%3B%20full%20charge%20in%2055m%20w%2F%2045w%20charger%3B%20Qi%20wireless%2C%20dual%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%2C%20Bluetooth%205.3%2C%20NFC%20(Google%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Fingerprint%2C%20face%20unlock%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP54%2C%20limited%20protection%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Dual-nano%20SIM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Dark%20grey%2C%20white%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Nothing%20Phone%20(2)%2C%20USB-C-to-USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%20(UAE)%3A%3C%2Fstrong%3E%20Dh2%2C499%20(12GB%2F256GB)%20%2F%20Dh2%2C799%20(12GB%2F512GB)%3C%2Fp%3E%0A
GRAN%20TURISMO
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Neill%20Blomkamp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20David%20Harbour%2C%20Orlando%20Bloom%2C%20Archie%20Madekwe%2C%20Darren%20Barnet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4-litre%20flat-six%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E525hp%20(GT3)%2C%20500hp%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E465Nm%20(GT3)%2C%20450Nm%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh944%2C000%20(GT3)%2C%20Dh581%2C700%20(GT4)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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.”

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

One in nine do not have enough to eat

Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.

One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.

The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.

Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.

It is currently estimated that one in nine people globally do not have enough to eat.

On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.

Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.

 

RESULT

Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')

SHAITTAN
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EVikas%20Bahl%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EAjay%20Devgn%2C%20R.%20Madhavan%2C%20Jyothika%2C%20Janaki%20Bodiwala%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A