President Donald Trump speaks in the Diplomatic Room of the White House in Washington. Manuel Balce Ceneta / AP Photo
President Donald Trump speaks in the Diplomatic Room of the White House in Washington. Manuel Balce Ceneta / AP Photo

Dina Powell: Trump found 'partner' in Saudi crown prince during 2017 meeting



US President Donald Trump told his staff “we have our partner” after his first meeting with Saudi Arabia’s Crown Prince Mohammed bin Salman, former US deputy national security adviser Dina Habib Powell said in her first remarks since leaving the White House.

Ms Powell, speaking on Tuesday at the Saudi-US CEO Forum 2018 in New York, recounted the early thaw between Washington and Riyadh. When Mr Trump was elected in November of 2016, one of his first priorities was to tackle the terrorist threat and “we had to engage quickly and meaningfully in the region”, she said.

Prince Mohammed, then deputy crown prince, “reached out [to the US administration] and built strong relations with Jared [Kushner] and others”, with both sides pushing ahead on what could be achieved, Ms Powell said.

The March 2017 lunch with Mr Trump strengthened the partnership. Following the lunch, Mr Trump told staff “I think we have our partner”, noting that the Saudi counter-radicalism and reform agendas helped build the rapport. The US and Saudi discussions continued, leading to the president’s first foreign visit to Riyadh in May.

“A year ago no one would have believed that ISIL would be defeated,” said Ms Powell, who left the White House in early 2018.

She credited Mr Trump, who was willing let the US military do its job, and the Saudi crown prince, who saw the terrorist threat. Ms Powell also called Iran “the largest state sponsor of terrorism” and stressed the need to counter the problem.

As for the Saudi economy, Ms Powell said she saw the urgency in implementing Vision 2030 and that there was “one choice” in reforming and revamping the economy.

US Secretary of Commerce Wilbur Ross spoke on the same panel as Ms Powell on Tuesday. Mr Ross said plans for Saudi Arabia's economy “could be more transformative geopolitically” than “when we stood with the Kingdom in 1938 as they developed hydrocarbon”.

He mentioned plans to build mega-city NEOM as one example of the transformation. Egypt committed more than 1,000 square kilometres (386 square miles) of land in the southern Sinai Peninsula to the planned mega-city and business zone unveiled by Saudi Arabia last October.  The territory along the Red Sea is part of a joint fund announced by the two countries during a visit to Cairo by the Saudi crown prince in February.

The panel also featured Saudi’s Energy Minister Khalid Al-Falih and Minister of Commerce Majid Al Qasabi. They discussed legal and financial reforms in Saudi Arabia to enhance business and investment.

Meanwhile, Crown Prince Mohammed bin Salman was expected to meet UN Secretary General Antonio Guterres later on Tuesday to discuss the war in Yemen and Monday’s Houthis’ attack.

Mr Gutteres who visited Saudi Arabia in 2017, strongly condemned the attack and called for "restraint amid mounting tensions”.

Saudi Arabia's Washington ambassador Prince Khalid bin Salman bin Abdulaziz said Iran should be held accountable. “The only way to prevent further conflict in the region is to hold Iran accountable for its violations of all international laws. Friends and enemies are watching for the world’s reaction; it will shape the behaviour of countries in region on the long term,” he tweeted on Tuesday.

The Saudi crown prince also met with investors and business executives in New York including Masayoshi Son of SoftBank, a major investor in Vision 2030. Prince Mohammed is expected to be in New York until Friday before heading to Seattle, Los Angeles, San Francisco and Houston.

Armies of Sand

By Kenneth Pollack (Oxford University Press)
 

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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.

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
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