US President Donald Trump expected a routine schedule on Wednesday: receiving his intelligence briefing in the morning before holding lunch with his Vice President Mike Pence, Secretary of State Rex Tillerson, and Secretary of Defense James Mattis.
These plans were disrupted after salacious quotes attributed to former Mr Trump's chief strategist and campaign manager Steve Bannon became public, ahead of the release of a new book "Fire and Fury: Inside the Trump White House" by Michael Wolff.
The quotes excoriate the Trump campaign as one that stumbled on victory, and paints major figures around the US President, including his son Donald Trump Junior and son in law Jared Kushner, as opportunistic and treasonous.
Mr Trump was enraged by the leaks, and issued a statement disavowing Mr Bannon whom he said has “lost his mind” and “now that he is on his own, Steve is learning that winning isn’t as easy as I make it look.”
The fallout is a turning point Mr Bannon’s relation with Mr Trump. Coverage of Mr Trump’s administration from Mr Bannon’s Breitbart publication will likely continue to sour. The Republican support base, which substantially crosses over with Breitbart’s readership, could also be impacted as the country heads to the midterm elections this November.
Read more: Trump says former aide Bannon has “lost his mind”
Looking back, here is the a major timeline of events that shaped the Trump-Bannon political tango:
• 16 July 2015: It is unclear when they met but on 16 July 2015, Mr Trump - one month after announcing his candidacy - tweets complimenting Mr Bannon on the review of his book.
• November 2015 - February 2016: Mr Bannon regularly interviewed Mr Trump for Breitbart, and the two reportedly kept exchanging emails about the campaign.
• 17 August 2016: Mr Bannon named chief executive of the Trump campaign only to become campaign manager two days later after the departure of Paul Manafort (now under house arrest in the Russia investigation)
• 8 November 2016: Donald Trump wins the Presidential elections
• 13 November 2016: Mr Trump appoints Mr Bannon as chief strategist at the White House
• 27 January 2017: Mr Trump announces a travel ban focused on Muslim-majority countries, reportedly inspired in timing and context by Mr Bannon.
• 28 January 2017: Mr Trump grants Mr Bannon a seat on the National Security Council's principals committee, triggering controversy since Mr Bannon does not have the military or the national security credentials.
• March 2017: Mr Trump left Mr Bannon and other senior aides in Washington when he travelled to Mar-a-Lago for the weekend after an angry outburst over a series of leaks, setbacks and accusations.
• 4 April 2017: After tension with national security adviser HR McMaster, Mr Bannon is removed from the Principals Committee, and echoes of disenchantment with his role becomes more public amidst differences with the Republican Congress and Mr Kushner.
• 11 April 2017: Mr Trump refuses to publicly support Mr Bannon fully, undermining his influence in an interview with The New York Post: "I like Steve, but you have to remember he was not involved in my campaign until very late," the president said. "I had already beaten all the senators and all the governors, and I didn't know Steve."
• 15 August 2017: Mr Trump at a press conference following reports that Mr Bannon may be on his way out, describes him as a "good man" and "we'll see what happens with Mr. Bannon."
• 18 August 2017: New York Times reports that Mr Bannon will be leaving the White House. He returns to Breitbart which begins to run negative coverage of Mr Trump's decisions.
• 31 August 2017: The Washington Post reports that Mr Trump still is still calling Steve Bannon on his phone despite Chief of staff John Kelly urging against it.
• 31 October 2017: The Washington Post reports the Mr Bannon has advised Mr Trump to go harsher on special counsel Robert Mueller in the Russia probe.
• Early December 2017: White House spokeswoman Sarah Sanders revealed on Wednesday, that the last phone conversation between Mr Trump and Mr Bannon was in the "first part of December."
While the White House left no doubt that the fissure between Mr Trump and Mr Bannon will be long lasting, other Republican observers such as Erick Erickson noted that it may be temporary since the two may need each other again to promote a right wing populist agenda as midterms approach.
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.”
Pots for the Asian Qualifiers
Pot 1: Iran, Japan, South Korea, Australia, Qatar, United Arab Emirates, Saudi Arabia, China
Pot 2: Iraq, Uzbekistan, Syria, Oman, Lebanon, Kyrgyz Republic, Vietnam, Jordan
Pot 3: Palestine, India, Bahrain, Thailand, Tajikistan, North Korea, Chinese Taipei, Philippines
Pot 4: Turkmenistan, Myanmar, Hong Kong, Yemen, Afghanistan, Maldives, Kuwait, Malaysia
Pot 5: Indonesia, Singapore, Nepal, Cambodia, Bangladesh, Mongolia, Guam, Macau/Sri Lanka
The specs: 2018 Jeep Grand Cherokee Trackhawk
Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)
Company%20profile
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Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
More from Neighbourhood Watch:
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
Schedule for show courts
Centre Court - from 4pm UAE time
Johanna Konta (6) v Donna Vekic
Andy Murray (1) v Dustin Brown
Rafael Nadal (4) v Donald Young
Court 1 - from 4pm UAE time
Kei Nishikori (9) v Sergiy Stakhovsky
Qiang Wang v Venus Williams (10)
Beatriz Haddad Maia v Simona Halep (2)
Court 2 - from 2.30pm
Heather Watson v Anastasija Sevastova (18)
Jo-Wilfried Tsonga (12) v Simone Bolelli
Florian Mayer v Marin Cilic (7)
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
MATCH INFO
Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')
Leeds United 0
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
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)
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young