Canadian Prime Minister Justin Trudeau during a campaign stop on Sunday in Maple, Ontario. Cole Burston / Getty / AFP
Canadian Prime Minister Justin Trudeau during a campaign stop on Sunday in Maple, Ontario. Cole Burston / Getty / AFP
Canadian Prime Minister Justin Trudeau during a campaign stop on Sunday in Maple, Ontario. Cole Burston / Getty / AFP
Canadian Prime Minister Justin Trudeau during a campaign stop on Sunday in Maple, Ontario. Cole Burston / Getty / AFP

Canadian PM Trudeau makes final push before Monday’s election


Willy Lowry
  • English
  • Arabic

Canadian Prime Minister Justin Trudeau hopes a final day of traipsing across Canada will help him to sway voters before Monday’s election.

The Liberal leader started the day in his home city of Montreal, where he urged voters to allow him to finish leading Canada through the Covid-19 pandemic.

Mr Trudeau called the election in August hoping to capitalise on his performance throughout the pandemic and his ability to have Canadians vaccinated.

But despite starting strongly, he stumbled out of the gates, with many Canadians frustrated with his decision to call the election when the threat of a fourth wave of infections loomed.

Mr Trudeau's liberals have been in a virtual dead heat with the Conservative Party throughout the 36-day campaign.

“Where we're standing right now, where all bets are off, the only thing I would say is we'll likely still have a minority government, but the colour of it is anyone's guess,” said Stephanie Chouinard, an associate professor at the Royal Military College and Queen’s University.

Mr Trudeau, who took power in 2015 with a majority government, was re-elected in 2019 with a much reduced minority, winning 155 seats compared to the Conservatives' 119. It takes 170 seats for a majority government.

That appears to be unlikely for either party, but Mr Trudeau and Conservatives leader Erin O’Toole are still vying for votes in key battleground ridings.

Both leaders spent time on Sunday in the suburbs of Toronto. The area, which is known as the 905 after its area code, is considered vital to both parties' successes.

Mr Trudeau, whose Liberals performed well in the 905 in 2019, spent time in the riding of King-Vaughan, just north of Toronto, trying to shore up support for his candidate, Deb Schulte.

At a backyard barbecue, he attacked Mr O’Toole for his inability to convince all Conservative candidates to be vaccinated, and promoted his leadership throughout the pandemic.

“Canada is today at a crossroads at a moment where we have to make a really important choice, not just about what we’re going to do in the coming months to end this pandemic for good, but also how we’re going to stay true to our values and meet the challenges of the future with the same level of ambition and devotion to each other that we showed as Canadians every day through the past 18 months,” Mr Trudeau said.

His message and handling of the pandemic were well received in neighbouring Brampton, where residents gathered to enjoy a late summer day in Chinguacousy Park.

“He gave us confidence and a feeling that things are gonna be OK going through this pandemic,” one woman told The National.

Mr O’Toole, who represents the riding of Durham, which is considered part of the 905, has dragged his party to the centre on social issues and climate change, hoping to erode the Liberals' support.

At the midpoint of the campaign he appeared poised to overtake Mr Trudeau, but his numbers have lagged behind slightly in the waning days of the election, making Monday anyone’s guess.

Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

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What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

The biog

Full name: Aisha Abdulqader Saeed

Age: 34

Emirate: Dubai

Favourite quote: "No one has ever become poor by giving"

Match info

Uefa Champions League Group B

Tottenham Hotspur 1 (Eriksen 80')
Inter Milan 0

Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

Terminal High Altitude Area Defense (THAAD)

What is THAAD?

It is considered to be the US' most superior missile defence system.

Production:

It was first created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

Abilities:

THAAD is designed to take out projectiles, namely ballistic missiles, as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".

Purpose:

To protect high-value strategic sites, such as airfields or population centres.

Range:

THAAD can target projectiles both inside and outside of the Earth's atmosphere, at an altitude of 93 miles above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then deployed them in 2016, becoming the first Gulf country to do so.

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.”

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UAE currency: the story behind the money in your pockets
Match info

What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Updated: September 19, 2021, 10:10 PM