US President Donald Trump speaks to North Korean leader Kim Jong-un at their meeting in Hanoi, Vietnam on February 27, 2019. Reuters
US President Donald Trump speaks to North Korean leader Kim Jong-un at their meeting in Hanoi, Vietnam on February 27, 2019. Reuters
US President Donald Trump speaks to North Korean leader Kim Jong-un at their meeting in Hanoi, Vietnam on February 27, 2019. Reuters
US President Donald Trump speaks to North Korean leader Kim Jong-un at their meeting in Hanoi, Vietnam on February 27, 2019. Reuters

Donald Trump spelled out denuclearisation to Kim Jong-un in Hanoi


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On the day that their talks in Hanoi collapsed last month, US President Donald Trump handed North Korean leader Kim Jong-un a piece of paper that included a blunt call for the transfer of Pyongyang's nuclear weapons and bomb fuel to the United States, according to the document seen by Reuters.

Mr Trump gave Mr Kim both Korean and English-language versions of the US position at Hanoi's Metropole hotel on February 28, according to a source familiar with the discussions. It was the first time that Mr Trump had explicitly defined what he meant by denuclearisation directly to Mr Kim, the source said.

A lunch between the two leaders was cancelled the same day. While neither side has presented a complete account of why the summit collapsed, the document may help explain it.

The document's existence was first mentioned by White House national security adviser John Bolton in television interviews he gave after the two-day summit. But Mr Bolton did not disclose that the document contained the demand that North Korea should transfer its nuclear weapons and fissile material to the United States.

The document appeared to represent Mr Bolton's long-held and hardline "Libya model" of denuclearisation that North Korea has rejected repeatedly. It probably would have been seen by Mr Kim as insulting and provocative, analysts said.

Mr Trump had previously distanced himself from Mr Bolton's approach and said a "Libya model" would be employed only if a deal could not be reached.

The idea of North Korea handing over its weapons was first proposed by Mr Bolton in 2004. He revived the proposal last year when Mr Trump named him as national security adviser.

The document was meant to provide the North Koreans with a clear and concise definition of what the United States meant by "final, fully verifiable, denuclearisation", the source said.

The White House did not immediately respond to a request for comment. The State Department declined to comment on what would be a classified document.

After the summit, a North Korean official accused Mr Bolton and Secretary of State Mike Pompeo of "gangster-like" demands, saying Pyongyang was considering suspending talks with the United States and might reconsider its self-imposed ban on missile and nuclear tests.

The English version of the document, seen by Reuters, called for "fully dismantling North Korea's nuclear infrastructure, chemical and biological warfare programme and related dual-use capabilities; and ballistic missiles, launchers, and associated facilities".

Aside from the call for the transfer of Pyongyang's nuclear weapons and bomb fuel, the document had four other key points.

It called on North Korea to provide a comprehensive declaration of its nuclear programme and full access to US and international inspectors; to halt all related activities and construction of any new facilities; to eliminate all nuclear infrastructure; and to transition all nuclear programme scientists and technicians to commercial activities.

The summit in Vietnam's capital was cut short after Mr Trump and Mr Kim failed to reach a deal on the extent of economic sanctions relief for North Korea in exchange for its steps to give up its nuclear programme.

The first summit between Mr Trump and Mr Kim, which took place in Singapore in June 2018, was almost called off after the North Koreans rejected Mr Bolton's repeated demands for it to follow a denuclearisation model under which components of Libya's nuclear programme were shipped to the United States in 2004.

Seven years after a denuclearisation agreement was reached between the United States and Libya's leader, Muammar Qaddafi, the United States took part in a Nato-led military operation against his government and he was overthrown by rebels and killed.

Last year, North Korea officials called Mr Bolton's plan "absurd" and noted the "miserable fate" that befell Qaddafi.

After North Korea threatened to cancel the Singapore summit, Mr Trump said in May that he was not pursuing a "Libya model" and that he was looking for an agreement that would protect Mr Kim.

"He would be there, he would be running his country, his country would be very rich," the US president said at the time.

"The Libya model was a much different model. We decimated that country," he added.

The Hanoi document was presented in what US officials have said was an attempt by Mr Trump to secure a "big deal" under which all sanctions would be lifted if North Korea gave up all of its weapons.

US-North Korean engagement has appeared to be in limbo since the Hanoi meeting. Mr Pompeo said on March 4 he was hopeful he could send a team to North Korea "in the next couple of weeks," but there has been no sign of that.

Jenny Town, a North Korea expert at the Washington-based Stimson Center think tank, said the content of the US document was not surprising.

"This is what Bolton wanted from the beginning and it clearly wasn't going to work," she said. "If the US was really serious about negotiations they would have learned already that this wasn't an approach they could take."

She added, "It's already been rejected more than once, and to keep bringing it up ... would be rather insulting. It's a non-starter and reflects absolutely no learning curve in the process."

North Korea has repeatedly rejected unilateral disarmament and argues that its weapons programme is needed for defence, a belief reinforced by the fate Qaddafi and others.

In an interview with ABC's This Week programme after the Hanoi summit, Mr Bolton said the North Koreans had committed to denuclearisation in a variety of forms several times "that they have happily violated".

"We define denuclearisation as meaning the elimination of their nuclear weapons programme, their uranium enrichment capability, their plutonium reprocessing capability," he said.

Asked who authored the document, Mr Bolton said it had been "written at staff level and cleared around as usual".

FROM%20THE%20ASHES
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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

The specs

Engine: 3.8-litre V6

Power: 295hp at 6,000rpm

Torque: 355Nm at 5,200rpm

Transmission: 8-speed auto

Fuel consumption: 10.7L/100km

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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

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Abu Dhabi race card

5pm: Maiden (PA) | Dh80,000 | 1,600m
5.30pm: Maiden (PA) | ​​​​​​​Dh80,000 | 1,400m
6pm: Liwa Oasis (PA) Group 2 |​​​​​​​ Dh300,000 | 1,400m
6.30pm: Arabian Triple Crown Round-2 (PA) Group 3 | Dh300,000 | 2,200m
7pm: Wathba Stallions Cup (PA) Handicap | Dh70,000 | 1,600m
7.30pm: Maiden (TB) |​​​​​​​ Dh80,000 | 2,200m

The biog:

Favourite book: The Leader Who Had No Title by Robin Sharma

Pet Peeve: Racism 

Proudest moment: Graduating from Sorbonne 

What puts her off: Dishonesty in all its forms

Happiest period in her life: The beginning of her 30s

Favourite movie: "I have two. The Pursuit of Happiness and Homeless to Harvard"

Role model: Everyone. A child can be my role model 

Slogan: The queen of peace, love and positive energy

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

While you're here
Company%20profile
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THE TWIN BIO

Their favourite city: Dubai

Their favourite food: Khaleeji

Their favourite past-time : walking on the beach

Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll

Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Results

4pm: Al Bastakiya – Listed (TB) $150,000 (Dirt) 1,900m; Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)

4.35pm: Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m; Winner: Walton Street, William Buick, Charlie Appleby

5.10pm: Mahab Al Shimaal – Group 3 (TB) $228,000 (D) 1,200m; Winner: Canvassed, Pat Dobbs, Doug Watson

5.45pm: Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m; Winner: Midnight Sands, Pat Dobbs, Doug Watson

6.20pm: Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m; Winner: Lord Glitters, Daniel Tudhope, David O’Meara

6.55pm: Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass

7.30pm: Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m; Winner: Final Song, Frankie Dettori, Saeed bin Suroor

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Manchester United 2
Smalling (28'), Lukaku (70')

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

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The Gandhi Murder
  • 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
  • 34 - Nationalities featured in the film The Gandhi Murder
  • 7 - million dollars, the film's budget 
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Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.

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.”

BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

Brief scoreline:

Toss: South Africa, elected to bowl first

England (311-8): Stokes 89, Morgan 57, Roy 54, Root 51; Ngidi 3-66

South Africa (207): De Kock 68, Van der Dussen 50; Archer 3-27, Stokes 2-12