Robert Mueller, a former federal prosecutor at the Justice Department, was confirmed as FBI director days before the September 11, 2001, attacks that would ultimately shape his tenure. J Scott Applewhite / AP Photo
Robert Mueller, a former federal prosecutor at the Justice Department, was confirmed as FBI director days before the September 11, 2001, attacks that would ultimately shape his tenure. J Scott ApplewhShow more

Special prosecutor Robert Mueller abruptly named to investigate Trump-Russia ties



WASHINGTON // The Justice Department abruptly appointed former FBI director Robert Mueller on Wednesday night as a special counsel to lead a federal investigation into allegations that Donald Trump’s campaign collaborated with Russia to sway the 2016 election that put him in the White House. Mr Mueller will have sweeping powers and the authority to prosecute any crimes he uncovers.

The surprise announcement to hand the probe over to Mr Mueller, a lawman with deep bipartisan respect, was a striking shift for Mr Trump’s Justice Department, which had resisted increasingly loud calls from Democrats for an outside prosecutor. It immediately escalated the legal stakes - and the potential political damage - for a president who has tried to dismiss the matter as partisan witch hunt and a “hoax”.

The announcement, the latest in the shock-a-day Washington saga, was made by deputy attorney general Rod Rosenstein. The White House counsel’s office was alerted only after the order appointing Mr Mueller was signed, said a senior White House official.

In a written statement, Mr Trump insisted anew there were no nefarious ties between his campaign and Russia.

“A thorough investigation will confirm what we already know – there was no collusion between my campaign and any foreign entity,” he declared. “I look forward to this matter concluding quickly.”

Mr Mueller’s broad mandate gives him not only oversight of the Russia probe, but also “any matters that arose or may arise directly from the investigation.” That would surely include Mr Trump’s firing last week of FBI director James Comey.

Mr Mueller, a former federal prosecutor at the Justice Department, was confirmed as FBI director days before the September 11, 2001, attacks that would ultimately shape his tenure. The FBI’s counterterror mission was elevated in those years, as the US intelligence agencies adjusted to better position America to prevent another attack of such magnitude. He was so valued that president Barack Obama asked him to stay on two years longer than his 10-year term.

Mr Comey succeeded him, appointed by Mr Obama.

Republicans have largely stood behind Mr Trump in the first months of his presidency as FBI and congressional investigations into Russia’s election meddling intensified. But GOP lawmakers have grown increasingly anxious since Mr Trump fired Comey, who had been leading the bureau’s probe – and after Mr Comey associates said he had notes from a meeting in which Mr Trump asked him to shut down the investigation into the Russia ties of former National Security adviser Michael Flynn.

First reactions from Congress were mainly positive.

House speaker Paul Ryan said the appointment was consistent with his goal of ensuring that “thorough and independent investigations are allowed to follow the facts wherever they may lead.”

Republican Jason Chaffetz of Utah, chairman of the House Oversight Committee, said Mr Mueller was a “great selection. Impeccable credentials. Should be widely accepted.”

The latest political storm, coupled with the still-potent fallout from Mr Trump’s recent disclosure of classified information to Russian diplomats at the White House, has overshadowed all else in the capital and beyond. Stocks fell sharply on Wall Street on Wednesday as investors worried the latest turmoil in Washington could hinder Mr Trump’s pro-business agenda

Mr Trump has repeatedly slammed the FBI and congressional investigations as a “hoax” and blamed disgruntled officials at intelligence agencies for leaking information related to the probes. During a commencement address on Wednesday at the Coast Guard Academy, he complained bitterly about criticism he’s faced.

“No politician in history, and I say this with great surety, has been treated worse or more unfairly,” he said. “You can’t let the critics and the naysayers get in the way of your dreams. ... I guess that’s why we won. Adversity makes you stronger. Don’t give in, don’t back down. ... And the more righteous your fight, the more opposition that you will face.”

No less a commentator than Russia's Vladimir Putin called the dramatic charges swirling around Mr Trump evidence of "political schizophrenia spreading in the US". He offered to furnish a "record" of the Trump-diplomats meeting in the Oval Office if the White House desired it.

There was no word on what that record might entail, a question many were likely to raise in light of Mr Trump’s recent warning to Mr Comey that he had “better hope” there were no tapes of a discussion they’d had.

* Associated Press

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A

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.”

The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

WISH
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Chris%20Buck%2C%20Fawn%20Veerasunthorn%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Ariana%20DeBose%2C%20Chris%20Pine%2C%20Alan%20Tudyk%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

While you're here
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EQureos%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E33%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ESoftware%20and%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%243%20million%0D%3Cbr%3E%3C%2Fp%3E%0A
Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat