As financial turmoil grasps the world's attention, in the US presidential race, the McCain campaign is struggling to get back on message. "Before the bailout crisis, aides said, McCain was succeeding in focusing attention on Obama's record and character. Now, they say, he must return to those subjects," The Washington Post reported on Saturday. " 'We are looking for a very aggressive last 30 days,' said Greg Strimple, one of McCain's top advisers. 'We are looking forward to turning a page on this financial crisis and getting back to discussing Mr Obama's aggressively liberal record and how he will be too risky for Americans.' " The Times said: "John McCain heads into his second presidential debate against Barack Obama tomorrow night at a critical moment for his increasingly endangered campaign and with a new offensive against his Democratic rival's character and trustworthiness. "With only 29 days until the election, Mr McCain faces an electoral map that has shifted significantly in favour of Mr Obama in the past fortnight. It has triggered a decision to try to move the attention of voters away from the economic crisis and back on to questions about Mr Obama's past associates, with a message that the Democrat is somehow not American or patriotic enough to be President." AFP reported: "Illinois Congressman Rahm Emanuel, one of the Democratic Party's fiercest attack dogs, said McCain was playing with fire. " 'At 58, John McCain was associating with Charles Keating,' he told CNN, referring to a businessman who was jailed in the massive savings and loan crisis of the 1980s, the worst scandal of McCain's career. " 'I'm not in the business of giving political advice to John McCain. But I would watch when you're going to deal with associations,' Emanuel warned." Politico reported: "McCain officials had said early in the weekend that they plan to begin advertising after Tuesday's debate that will tie Obama to convicted money launderer Tony Rezko and former Weathermen radical William Ayers. "But Obama isn't waiting to respond. His campaign is going up Monday on national cable stations with a scathing ad saying: 'Three quarters of a million jobs lost this year. Our financial system in turmoil. And John McCain? Erratic in a crisis. Out of touch on the economy. No wonder his campaign wants to change the subject.' " The Washington Post said: "Seizing on a New York Times account Saturday of the relationship between Obama and Bill Ayers, who has confessed to domestic bombings as a member of the Vietnam-era Weather Underground, [Mr McCain's running mate, Sarah] Palin told Republican donors in Colorado that Obama 'is not a man who sees America as you and I do - as the greatest force for good in the world.' "Palin's comments came as Sen John McCain's campaign signaled a new effort to go after Obama and were a distortion of what the Times story concluded: that the two men are not close but that Obama has played down his contacts with Ayers, who remains unrepentant about his actions but has been rehabilitated in the eyes of many Chicago political and civic leaders. "The comments underscored a new determination by the McCain campaign to try to regain momentum by painting Obama as a radical out of touch with Main Street." In an analysis for The Associated Press, Douglass Daniel wrote: "Palin's words avoid repulsing voters with overt racism. But is there another subtext for creating the false image of a black presidential nominee 'palling around' with terrorists while assuring a predominantly white audience that he doesn't see their America? "In a post-Sept 11 America, terrorists are envisioned as dark-skinned radical Muslims, not the homegrown anarchists of Ayers' day 40 years ago. With Obama a relative unknown when he began his campaign, the Internet hummed with false e-mails about ties to radical Islam of a foreign-born candidate. "Whether intended or not by the McCain campaign, portraying Obama as 'not like us' is another potential appeal to racism. It suggests that the Hawaiian-born Christian is, at heart, un-American." The New York Times noted: "The turmoil on Wall Street and the weakening economy are changing the contours of the presidential campaign map, giving new force to Senator Barack Obama's ambitious strategy to make incursions into Republican territory, while leading Senator John McCain to scale back his efforts to capture Democratic states. "Mr Obama has what both sides describe as serious efforts under way in at least nine states that voted for President Bush in 2004, including some that neither side thought would be on the table this close to Election Day. In a visible sign of the breadth of Mr. Obama's aspirations, he is using North Carolina - a state that Mr Bush won by 13 percentage points in 2004, and where Mr Obama is now spending heavily on advertisements - as his base to prepare this weekend for the debate on Tuesday. "By contrast, Mr McCain is vigorously competing in just four states where Democrats won in 2004: Pennsylvania and New Hampshire, followed by Wisconsin and Minnesota. His decision last week to pull out of Michigan reflected in part the challenge that the declining economy has created for Republicans, given that they have held the White House for the last eight years." The Economist said: "As the financial crisis pushes the economy back to the top of voters' concerns, Barack Obama is starting to open up a clear lead over John McCain in the opinion polls. But among those who study economics for a living, Mr Obama's lead is much more commanding. A survey of academic economists by The Economist finds the majority - at times by overwhelming margins - believe Mr Obama has the superior economic plan, a firmer grasp of economics and will appoint better economic advisers." The Washington Post said: "With the party already struggling to generate enthusiasm for its brand, Republican strategists fear that an outpouring of public anger generated by Congress's struggle to pass a rescue package for the financial industry may contribute to a disaster at the polls for the GOP in November. " 'The crisis has affected the entire ticket,' said Jan van Lohuizen, a Republican consultant who handled the polling for President Bush's reelection campaign. 'The worse the state's economy, the greater the impact.' " Politico reported: "The possibility that Democrats will build a muscular, 60-seat Senate majority is looking increasing plausible, with new polls showing a powerful surge for the party's candidates in Minnesota, Kentucky and other states."
Confidence crisis in European banks
"The German government said on Sunday that it would guarantee all private savings accounts in the country in an effort to reinforce increasingly shaky confidence in the financial system. The announcement came as the leaders of largest European economies met over the weekend searching for a systemwide answer to a credit crisis that has required them to rescue several banks in just the past week,"
The New York Times
reported. "Germany's guarantee of its private savings - worth about 500 billion euros, or more than $700 billion - followed the news that a group of banks had pulled out of a deal to provide 35 billion euros, or $48.2 billion, to rescue the large German mortgage lender, Hypo Real Estate. "The Belgian government, meanwhile, scrambled Sunday to engineer a sale of the Belgian units of Fortis before the start of trading on Monday. The Netherlands effectively nationalised the Dutch operations of the bank on Friday after a joint rescue deal with Belgium and Luxembourg broke down. "In Iceland, where the government seized control of a bank last week, officials were considering more sweeping measures to stabilise finances there as well. And the board of UniCredit, which is based in Milan and also operates in Germany and much of Eastern Europe, met to consider a capital increase after being buffeted by a week of speculation about its solvency."
The Observer
reported: "Iceland is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland's currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan. One of the country's three independent banks has been nationalised, another is asking customers for money, and the discredited government and officials from the central bank have been huddled behind closed doors for three days with still no sign of a plan. International banks won't send any more money and supplies of foreign currency are running out. "People talk about whether a new emergency unity government is needed and if the EU would fast-track the country to membership. On Friday the queues at the banks were huge, as people moved savings into the most secure accounts. Yesterday people were buying up supplies of olive oil and pasta after a supermarket spokesman announced on Friday night that they had no means of paying the foreign currency advances needed to import more foodstuffs. "This North Atlantic volcanic island, which is the size of Cuba, with a population of 320,000 ... is an unlikely player on the global financial stage. It is famous for its fish, geysers and for winning the UN's 2007 'best country to live in' poll. But Iceland built its extraordinary wealth on the crest of the worldwide credit boom and now the crunch is sweeping it away, bankrupting a people for whom the past eight years have been, for most of them and by their own admission, one long party.... "Iceland's cheap labour force, the Poles and Lithuanians, have left already - there's little point in sending home such a worthless currency, and the tourist season is over. Iceland is on its own."
Will Hutton
wrote: "The Western banking system faces disintegration. Economists and policy-makers are at loggerheads over how to intervene to stop the panic that is sweeping the world and inspire sufficient trust for the key money and credit markets to reopen. "This is a crisis that has been 30 years in the making - a Gordian knot of libertarian free-market fundamentalism, unregulated globalisation, the collapse of social and political forces committed to fairness, the explosive impact of financial innovations such as 'securitisation', and sheer greed. Each has contributed to the fiasco - and all now need to be unravelled if the economy is to have a sustained recovery.... "The world of go-getting investment banks has gone forever. The danger is that we go from feast to famine; debt remains a vital element in any economy, and if we too suddenly try to live without it we will crush ourselves economically. What we are witnessing is a system failure that requires a systemic response - the creation of a new system that sponsors a fairer, more productive capitalism in its place, while maintaining high flows of credit and debt." In
The Financial Times
, Jeffrey Garten, professor of international trade and finance at Yale wrote: "Washington recognises that the crisis has become global. Hank Paulson, Treasury secretary, has said that foreign banks operating in the US will be eligible for federal assistance and he is urging other nations to fashion their own bail-out programmes. Central banks have also been synchronising injections of funds into markets. These should be steps to a more comprehensive international response designed not just to extinguish the current fires, but to rebuild and maintain the capital markets for the longer term. "The current global institutional apparatus is woefully incapable of overseeing the financial system that is evolving. The International Monetary Fund is irrelevant to this crisis, the Group of Seven leading industrial countries lacks legitimacy in a world where China, Brazil and others are big players, and the Bank for International Settlement has no operational role. The US Federal Reserve is too besieged to act as a global central bank. "That vacuum at the centre is dangerous for everyone. The US's dependence on massive inflows of foreign capital, roughly $3bn (Ä2bn, £1.6bn) a day, will surely increase now as Uncle Sam acquires $1,000bn in new obligations from current bail-outs. For years to come, Wall Street and Washington will be unable to manage without strong co-operation from other markets.... "All of these considerations point to the eventual need for a new Global Monetary Authority. It would set the tone for capital markets in a way that would not be viscerally opposed to a strong public oversight function with rules for intervention, and would return to capital formation the goal of economic growth and development rather than trading for its own sake."
pwoodward@thenational.ae
The%20Witcher%20-%20season%20three
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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
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
Day 2, Abu Dhabi Test: At a glance
Moment of the day Dinesh Chandimal has inherited a challenging job, after being made Sri Lanka’s Test captain. He responded in perfect fashion, with an easy-natured century against Pakistan. He brought up three figures with a majestic cover drive, which he just stood and admired.
Stat of the day – 33 It took 33 balls for Dilruwan Perera to get off the mark. His time on zero was eventful enough. The Sri Lankan No 7 was given out LBW twice, but managed to have both decisions overturned on review. The TV replays showed both times that he had inside edged the ball onto his pad.
The verdict In the two previous times these two sides have met in Abu Dhabi, the Tests have been drawn. The docile nature of proceedings so far makes that the likely outcome again this time, but both sides will be harbouring thoughts that they can force their way into a winning position.
THE%20SPECS
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Results
ATP Dubai Championships on Monday (x indicates seed):
First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
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)
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Company%C2%A0profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY%20PROFILE
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COMPANY%20PROFILE%20
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SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
THE BIO:
Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
Favourite exercise: Bench press
Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn
Power drink: A glass of yoghurt
Role model: Any good man
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Russia's Muslim Heartlands
Dominic Rubin, Oxford
COMPANY%20PROFILE
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Overall head-to-head
Federer 6-1 Cilic
Head-to-head at Wimbledon
Federer 1-0 Cilic
Grand Slams titles
Federer 18-1 Cilic
Best Wimbledon performance
Federer: Winner (2003, 2004, 2005, 2006, 2007, 2009, 2012)
Cilic: Final (2017*)
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20profile
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Company%20Profile
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Traces%20of%20Enayat
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Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Company%20Profile
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Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
COMPANY%20PROFILE
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More on animal trafficking
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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