Yael Braun-Pivet, a member of President Emmanuel Macron's alliance, used her election as Speaker of the National Assembly to speak in defence of abortion rights for French women. EPA
Yael Braun-Pivet, a member of President Emmanuel Macron's alliance, used her election as Speaker of the National Assembly to speak in defence of abortion rights for French women. EPA
Yael Braun-Pivet, a member of President Emmanuel Macron's alliance, used her election as Speaker of the National Assembly to speak in defence of abortion rights for French women. EPA
Yael Braun-Pivet, a member of President Emmanuel Macron's alliance, used her election as Speaker of the National Assembly to speak in defence of abortion rights for French women. EPA

French parliament elects woman as its speaker for the first time


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France’s lower house of parliament elected Yael Braun-Pivet of President Emmanuel Macron’s centrist alliance as its speaker on Tuesday, the first woman to hold the post.

Reflecting on events in the US, Ms Braun-Pivet defended the right to abortion in France and called on the chamber to be “vigilant” about protecting the law.

The National Assembly held its first session since Mr Macron’s party lost its majority in elections and the far-right and left camps of French politics were strengthened.

The centrist Ensemble alliance has the most seats in the assembly but no longer enough to pass laws on its own. The assembly is France’s most powerful house of parliament.

The divided chamber is preparing to tackle proposals on fighting inflation and enshrining abortion rights in the French constitution, in response to the US Supreme Court decision last week to strip women’s constitutional protections for abortion.

Abortion in France was legalised in 1975 and has broad political support.

“The brutal decision handed down last Friday by the US Supreme Court, that reversed its commitment, that shocked us so much, is a stark reminder to be vigilant,” Ms Braun-Pivet said.

“Nothing should be taken for granted. History is made of great progress but is always under threat of being reversed,” she told MPs.

“This right was fought for and was inalienable. It is my conviction as a woman today is that we need to be the watchdog so that it stays in place forever.”

Ms Braun-Pivet, a former socialist, joined Mr Macron’s party in 2016 and is a newcomer to lawmaking. She was chosen in a secret ballot over candidates from rival parties.

The left-wing Nupes coalition is the biggest opposition force in the assembly, and its legislators made a grand entrance on Tuesday with its diverse cross-section of politicians, including many young people in office for the first time.

Nupes hopes to challenge Mr Macron’s efforts to cut taxes and increase the retirement age from 62 to 65.

Members of Parliament applause newly elected President of the National Assembly Yael Braun-Pivet after her election in the hemicycle of the National Assembly in Paris, France, 28 June 2022. The legislative elections in France were held on 12 and 19 June 2022 to elect the 577 members for the National Assembly of the French Republic. EPA / CHRISTOPHE PETIT TESSON
Members of Parliament applause newly elected President of the National Assembly Yael Braun-Pivet after her election in the hemicycle of the National Assembly in Paris, France, 28 June 2022. The legislative elections in France were held on 12 and 19 June 2022 to elect the 577 members for the National Assembly of the French Republic. EPA / CHRISTOPHE PETIT TESSON

The far-right party of three-times presidential candidate Marine Le Pen, the National Rally, won a record number of seats and is expected to pursue anti-immigration policies.

All three top parties plan competing measures aimed at helping working-class households to cope with high inflation fuelled by Russia’s war in Ukraine.

Women remain in the minority in the assembly, and Ms Braun-Pivet’s appointment was seen as sending an important message about women in politics.

Ms Braun-Pivet, a lawyer who spent several years living in Asia, was first elected in 2017 and re-elected this month in her district west of Paris. She was chairwoman of the assembly’s law committee for five years.

The assembly is taking on a more larger role now than it has had in 20 years.

Mr Macron’s supporters worry that the new legislature will cause gridlock and block his efforts to make France’s economy more business-friendly and pass climate legislation. His critics said it is more representative of France.

“The French people compel us to work together, to debate rather than to fight each other. They’ve chosen us, they’ve elected us and we share, whatever our differences, a responsibility to answer to this assembly which is the face of France,” Mr Braun-Pivet said.

Newly elected youngest member of the Parliament Tematai Le Gayic (L) looks at member of Parliament Yael Braun-Pivet (C) for the Presidential majority l party 'Renaissance' vote for the new Assembly President in the hemicycle of the National Assembly in Paris, France, 28 June 2022. EPA / CHRISTOPHE PETIT TESSON
Newly elected youngest member of the Parliament Tematai Le Gayic (L) looks at member of Parliament Yael Braun-Pivet (C) for the Presidential majority l party 'Renaissance' vote for the new Assembly President in the hemicycle of the National Assembly in Paris, France, 28 June 2022. EPA / CHRISTOPHE PETIT TESSON

Sebastien Chenu of National Rally said his party would push for debates on “Islamism” and immigration.

“We will oppose without any concessions Emmanuel Macron’s reforms, like the pension reform in particular,” he said.

Louis Boyard of Nupes said his alliance had many ideas.

“We must revive the economy through consumption. By raising the minimum wage to €1,500 ($1,575). By freezing prices. We have plenty of proposals.”

As elected officials paraded through the garden towards the assembly building, two deputies from French Polynesia arrived wearing traditional attire. The assembly, however, remains largely a place of suits and ties.

Members will choose committee leaders in the coming days, and either Nupes or the National Rally may win control of the finance commission, which is in charge of controlling the state’s budget.

Prime Minister Elisabeth Borne — the second woman to hold that post — will set out the government’s goals in a speech next week, and may face a confidence vote shortly ëafterward.

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Structural%20weaknesses%20facing%20Israel%20economy
%3Cp%3E1.%20Labour%20productivity%20is%20lower%20than%20the%20average%20of%20the%20developed%20economies%2C%20particularly%20in%20the%20non-tradable%20industries.%3Cbr%3E2.%20The%20low%20level%20of%20basic%20skills%20among%20workers%20and%20the%20high%20level%20of%20inequality%20between%20those%20with%20various%20skills.%3Cbr%3E3.%20Low%20employment%20rates%2C%20particularly%20among%20Arab%20women%20and%20Ultra-Othodox%20Jewish%20men.%3Cbr%3E4.%20A%20lack%20of%20basic%20knowledge%20required%20for%20integration%20into%20the%20labour%20force%2C%20due%20to%20the%20lack%20of%20core%20curriculum%20studies%20in%20schools%20for%20Ultra-Othodox%20Jews.%3Cbr%3E5.%20A%20need%20to%20upgrade%20and%20expand%20physical%20infrastructure%2C%20particularly%20mass%20transit%20infrastructure.%3Cbr%3E6.%20The%20poverty%20rate%20at%20more%20than%20double%20the%20OECD%20average.%3Cbr%3E7.%20Population%20growth%20of%20about%202%20per%20cent%20per%20year%2C%20compared%20to%200.6%20per%20cent%20OECD%20average%20posing%20challenge%20for%20fiscal%20policy%20and%20underpinning%20pressure%20on%20education%2C%20health%20care%2C%20welfare%20housing%20and%20physical%20infrastructure%2C%20which%20will%20increase%20in%20the%20coming%20years.%3C%2Fp%3E%0A
COMPANY%20PROFILE%20
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White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ECVT%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E119bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E145Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh%2C89%2C900%20(%2424%2C230)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 11.12L/100km

Price: From Dh796,600

On sale: now

If you go

The flights 

Emirates flies from Dubai to Funchal via Lisbon, with a connecting flight with Air Portugal. Economy class returns cost from Dh3,845 return including taxes.

The trip

The WalkMe app can be downloaded from the usual sources. If you don’t fancy doing the trip yourself, then Explore  offers an eight-day levada trails tour from Dh3,050, not including flights.

The hotel

There isn’t another hotel anywhere in Madeira that matches the history and luxury of the Belmond Reid's Palace in Funchal. Doubles from Dh1,400 per night including taxes.

 

 

The biog

Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics

 

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 
Company profile

Company name: Dharma

Date started: 2018

Founders: Charaf El Mansouri, Nisma Benani, Leah Howe

Based: Abu Dhabi

Sector: TravelTech

Funding stage: Pre-series A 

Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

'Nightmare Alley'

Director:Guillermo del Toro

Stars:Bradley Cooper, Cate Blanchett, Rooney Mara

Rating: 3/5

Difference between fractional ownership and timeshare

Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.

New UK refugee system

 

  • A new “core protection” for refugees moving from permanent to a more basic, temporary protection
  • Shortened leave to remain - refugees will receive 30 months instead of five years
  • A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
  • To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
  • Under core protection there will be no automatic right to family reunion
  • Refugees will have a reduced right to public funds
The%20specs
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APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

The Case For Trump

By Victor Davis Hanson
 

AL%20BOOM
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While you're here
'Nope'
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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20OneOrder%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20March%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Tamer%20Amer%20and%20Karim%20Maurice%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E82%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Series%20A%3C%2Fp%3E%0A
Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

SHAITTAN
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Updated: June 29, 2022, 7:43 AM