Prime Minister Justin Trudeau, right, meets with the President of South Africa, Cyril Ramaphosa, during a bilateral meeting as part of the G-7, Sunday, June 10, 2018, in Quebec City. (Jacques Boissinot/The Canadian Press via AP)
Prime minister Justin Trudeau meets with the president of South Africa, Cyril Ramaphosa, during a bilateral meeting as part of the G7. Jacques Boissinot/The Canadian Press via AP

European leaders back Trudeau in G7 aftermath and criticise Trump



The United States and Canada swung sharply towards a diplomatic and trade crisis on Sunday as top White House advisers lashed out at Canadian prime minister Justin Trudeau. a day after Donald Trump called him “very dishonest and weak”.

The spat drew in Germany and France, who sharply criticised the US president’s decision to abruptly withdraw his support for a Group of Seven communique hammered out at a Canadian summit on Saturday, accusing him of destroying trust and acting inconsistently.

“Canada does not conduct its diplomacy through ad hominem attacks … and we refrain particularly from ad hominem attacks when it comes to a close ally,” Canadian foreign minister Chrystia Freeland said on Sunday.

She reiterated that Canada would retaliate to US tariffs in a measured and reciprocal way, adding that it will always be willing to talk.

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White House economic adviser Larry Kudlow accused the Canadian PM of betraying Mr Trump with “polarising” statements on trade policy that risked making the US leader look weak before a historic summit with North Korean leader Kim Jong-un.

Mr Trump arrived in Singapore on Sunday for the summit that could lay the groundwork for ending a nuclear stand-off between the old foes.

“[Trudeau] really kind of stabbed us in the back,” Mr Kudlow, the director of the National Economic Council who had accompanied the president to Canada, said on CNN’s State of the Union.

Trade adviser Peter Navarro told Fox News Sunday that “there is a special place in hell for any leader that engages in bad faith diplomacy” with Mr Trump.

Mr Trudeau, in Quebec City for bilateral meetings with non-G7 leaders after the summit, did not comment as he arrived. He had earlier received direct personal support from many European leaders.

British prime minister Theresa May “is fully supportive” of Mr Trudeau and his leadership, a senior UK government source said, while European Council president Donald Tusk tweeted: “There is a special place in heaven for @JustinTrudeau.”

Ms Freeland, asked about support from allies, said: “The position of our European allies, including Japan, is the same as ours. We co-ordinated very closely with the European Union, with Mexico, on our list of retaliatory measures and actions.”

Europe will implement counter-measures against US tariffs on steel and aluminium just like Canada, German chancellor Angela Merkel said, voicing regret about Mr Trump’s decision to withdraw support for the communique.

Mr Trudeau’s office said he had not said anything in his closing G7 news conference he has not said to the US president before.

The majority of Canadian exports go to the United States, making Canada uniquely vulnerable to a US trade war.

Canadian officials, including Mr Trudeau, have fanned across America as part of a months-long charm offensive to appeal to pro-trade Republicans at every level. But even those vested in Canadian trade are not expected to come to his defence as long as the US economy is roaring.

“I think the pushback by Congress is going to come up incredibly short,” Chris Barron, a pro-Trump Republican strategist, said of Republican efforts to rein in Mr Trump.

Mr Trump’s backing out of the joint communique torpedoed what appeared to be a consensus on a trade dispute between Washington and its top allies.

“The G7 was a forum for friends — democracies with the same value system — to discuss issues of common interest. Now there is a question mark over that. But it did not start with this G7, but with the election of Donald Trump,” said a European official.

Mr Trump also said he might double down on import tariffs by hitting the sensitive car industry, throwing the G7’s efforts to show a united front into disarray.

“In a matter of seconds, you can destroy trust with 280 Twitter characters,” German foreign minister Heiko Maas said when asked about Mr Trump’s abrupt about-face on the communique.

France is also standing by the G7 communique, a French presidency official said.

Mr Trump has infuriated the European Union, Canada and Mexico by imposing tariffs on steel and aluminium imports.

“This is of great concern to the G7. I do not know where we go from here. It is impossible to predict what Trump will do next,” said a senior G7 official on the summit outcome.

“The world as we know it, namely the US-led rules-based multilateralism, is now in serious danger of unravelling, as illustrated at the G7 meeting,” said Erik Nielsen, chief economist at UniCredit Bank.

South African president Cyril Ramaphosa, who met Mr Trudeau on Sunday, said it was time for G20 nations to play a role and to “also bring about some good sense to all the key players”.

“The G20 helpfully has more countries that have a stake in the economy of the world, including the G7,” he told Reuters.

Ms Freeland, who met US trade representative Robert Lighthizer on Friday, said she would speak to him later on Sunday, adding that she believes a deal to renew the North American Free Trade Agreement is still possible.

“We are convinced that a modernisation is perfectly possible," she said. "We are convinced that common sense will triumph.”

Roger Federer's 2018 record

Australian Open Champion

Rotterdam Champion

Indian Wells Runner-up

Miami Second round

Stuttgart Champion

Halle Runner-up

Wimbledon Quarter-finals

Cincinnati Runner-up

US Open Fourth round

Shanghai Semi-finals

Basel Champion

Paris Masters Semi-finals

 

 

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

Two products to make at home

Toilet cleaner

1 cup baking soda 

1 cup castile soap

10-20 drops of lemon essential oil (or another oil of your choice) 

Method:

1. Mix the baking soda and castile soap until you get a nice consistency.

2. Add the essential oil to the mix.

Air Freshener

100ml water 

5 drops of the essential oil of your choice (note: lavender is a nice one for this) 

Method:

1. Add water and oil to spray bottle to store.

2. Shake well before use. 

MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

Fifa Club World Cup:

When: December 6-16
Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain
Defending champions: Real Madrid

COMPANY PROFILE

Company name: OneOrder
Started: March 2022
Founders: Tamer Amer and Karim Maurice
Based: Cairo
Number of staff: 82
Investment stage: Series A

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)

The specs

Powertrain: Single electric motor
Power: 201hp
Torque: 310Nm
Transmission: Single-speed auto
Battery: 53kWh lithium-ion battery pack (GS base model); 70kWh battery pack (GF)
Touring range: 350km (GS); 480km (GF)
Price: From Dh129,900 (GS); Dh149,000 (GF)
On sale: Now

RESULTS

5pm: Handicap (PA) Dh70,000 1,400m
Winner: AF Tathoor, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh70,000 1,000m
Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm: Maiden (PA) Dh70,000 2,000m
Winner: Aiz Alawda, Fernando Jara, Ahmed Al Mehairbi
6.30pm: Handicap (PA) Dh70,000 2,000m
Winner: ES Nahawand, Fernando Jara, Mohammed Daggash
7pm: Maiden (PA) Dh70,000 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
7.30pm: Al Ain Mile Group 3 (PA) Dh350,000 1,600m
Winner: Somoud, Connor Beasley, Ahmed Al Mehairbi
8pm: Handicap (PA) Dh70,000 1,600m
Winner: Al Jazi, Fabrice Veron, Eric Lemartinel

Fight card

1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)

2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)

3. Welterweight 77kg:Marcos Costa (BRA) v Abdelhakim Wahid (MAR)

4. Lightweight 70kg: Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)

5. Featherweight 66kg: Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)

6. Catchweight 85kg: Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)

7. Featherweight 66kg: Yousef Al Husani (UAE) v Mohamed Allam (EGY)

8. Catchweight 73kg: Mostafa Radi (PAL) v Ahmed Abdelraouf of Egypt (EGY)

9.  Featherweight 66kg: Jaures Dea (CMR) v Andre Pinheiro (BRA)

10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)

Most polluted cities in the Middle East

1. Baghdad, Iraq
2. Manama, Bahrain
3. Dhahran, Saudi Arabia
4. Kuwait City, Kuwait
5. Ras Al Khaimah, UAE
6. Ash Shihaniyah, Qatar
7. Abu Dhabi, UAE
8. Cairo, Egypt
9. Riyadh, Saudi Arabia
10. Dubai, UAE

Source: 2022 World Air Quality Report

MOST POLLUTED COUNTRIES IN THE WORLD

1. Chad
2. Iraq
3. Pakistan
4. Bahrain
5. Bangladesh
6. Burkina Faso
7. Kuwait
8. India
9. Egypt
10. Tajikistan

Source: 2022 World Air Quality Report

Common symptoms of MS
  • Fatigue
  • numbness and tingling
  • Loss of balance and dizziness
  • Stiffness or spasms
  • Tremor
  • Pain
  • Bladder problems
  • Bowel trouble
  • Vision problems
  • Problems with memory and thinking
ASIAN RUGBY CHAMPIONSHIP 2024

Results
Hong Kong 52-5 UAE
South Korea 55-5 Malaysia
Malaysia 6-70 Hong Kong
UAE 36-32 South Korea

Fixtures
Friday, June 21, 7.30pm kick-off: UAE v Malaysia
At The Sevens, Dubai (admission is free).
Saturday: Hong Kong v South Korea

US federal gun reform since Sandy Hook

- April 17, 2013: A bipartisan-drafted bill to expand background checks and ban assault weapons fails in the Senate.

- July 2015: Bill to require background checks for all gun sales is introduced in House of Representatives. It is not brought to a vote.

- June 12, 2016: Orlando shooting. Barack Obama calls on Congress to renew law prohibiting sale of assault-style weapons and high-capacity magazines.

- October 1, 2017: Las Vegas shooting. US lawmakers call for banning bump-fire stocks, and some renew call for assault weapons ban.

- February 14, 2018: Seventeen pupils are killed and 17 are wounded during a mass shooting in Parkland, Florida.

- December 18, 2018: Donald Trump announces a ban on bump-fire stocks.

- August 2019: US House passes law expanding background checks. It is not brought to a vote in the Senate.

- April 11, 2022: Joe Biden announces measures to crack down on hard-to-trace 'ghost guns'.

- May 24, 2022: Nineteen children and two teachers are killed at an elementary school in Uvalde, Texas.

- June 25, 2022: Joe Biden signs into law the first federal gun-control bill in decades.

Cherry

Directed by: Joe and Anthony Russo

Starring: Tom Holland, Ciara Bravo

1/5

HER FIRST PALESTINIAN

Author: Saeed Teebi

Pages: 256

Publisher: House of Anansi Press

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

Company profile

Name: Yodawy
Based: Egypt
Founders: Karim Khashaba, Sherief El-Feky and Yasser AbdelGawad
Sector:
HealthTech
Total funding: $24.5 million
Investors: Algebra Ventures, Global Ventures, MEVP and Delivery Hero Ventures, among others
Number of employees:
500

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.

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

CREW

Director: Rajesh A Krishnan

Starring: Tabu, Kareena Kapoor Khan, Kriti Sanon

Rating: 3.5/5

HAEMOGLOBIN DISORDERS EXPLAINED

Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.

Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.

The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.

The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.

A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.

THE SPECS

Engine: 3-litre V6 turbo (standard model, E-hybrid); 4-litre V8 biturbo (S)
Power: 350hp (standard); 463hp (E-hybrid); 467hp (S)
Torque: 500Nm (standard); 650Nm (E-hybrid); 600Nm (S)
Price: From Dh368,500
On sale: Now

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.”

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

PREMIER LEAGUE FIXTURES

All times UAE (+4 GMT)

Saturday
West Ham United v Tottenham Hotspur (3.30pm)
Burnley v Huddersfield Town (7pm)
Everton v Bournemouth (7pm)
Manchester City v Crystal Palace (7pm)
Southampton v Manchester United (7pm)
Stoke City v Chelsea (7pm)
Swansea City v Watford (7pm)
Leicester City v Liverpool (8.30pm)

Sunday
Brighton and Hove Albion v Newcastle United (7pm)

Monday
Arsenal v West Bromwich Albion (11pm)

Venom

Director: Ruben Fleischer

Cast: Tom Hardy, Michelle Williams, Riz Ahmed

Rating: 1.5/5