Students rally in Washington on March 14, 2018 to demand laws to prevent gun violence. AFP
Students rally in Washington on March 14, 2018 to demand laws to prevent gun violence. AFP

US swings towards tighter gun laws ahead of midterm elections



Gun control campaigners are winning the battle to impose new firearms laws across the USA in the wake of February’s mass shooting at a Florida high school.

While gridlock in Washington and the reluctance of the Trump administration to take on the gun lobby has led to little being done by the federal government, the same cannot be said for individual states where more than half have brought in new legislation.

The issue is also high on the agenda in the mid-term elections next month where, in addition to congressional races, voters in 36 of the 50 states will vote for a governor.

Clearly, the political landscape has changed.

While the US is unlikely to ban private ownership of guns, the argument against tighter controls — on the grounds that they undermine Americans’ rights to bear arms under the constitution's Second Amendment — is resonating less among voters.

The message has not been lost on Rick Scott, Florida’s Republican governor who faced two mass shootings during his term — the 2016 slaughter of 49 people at a nightclub in Orlando and February’s shooting at the Marjory Stoneman Douglas High School in Parkland that left 14 students and three staff dead.

Florida Republicans and Democrats joined forces to bring in a raft of controls, from raising the minimum age of gun ownership to 21 to imposing a three-day waiting period on all gun sales.

Florida was among nine states to outlaw bump stocks, devices which make it possible to unleash a rapid and deadly volley of bullets with a semi-automatic weapon.

“Every student in Florida has the right to learn in a safe environment, and every parent has the right to send their kids to school knowing that they will return safely at the end of the day,” Mr Scott said when he signed the bill.

Rather pointedly, he added: “This is a far different way of operating than the typical inefficiency we see from the federal government in Washington.

“Politics in DC seems to always get in the way of actually enacting measures that will help American families.”

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The evidence suggests that Mr Scott’s views are shared by the majority of governors throughout the US.

Since the Parkland shooting, 26 states have passed a total of 66 separate gun control measures.

Six states have brought in legislation requiring buyers to undergo background checks before they can receive their weapons. Eight states have passed laws allowing the authorities to impose “extreme risk protection orders" under which firearms can be confiscated from an person who poses a threat to themselves and others.

Nine states have barred domestic abusers from owning guns, and six have tightened laws which allow people to carry concealed weapons in public.

“It's clear that so much of the conversation changed after the Parkland massacre,” said Max Samis, spokesman for the Brady Campaign and Center to Prevent Gun Violence.

“It galvanised the nation and a lot of the credit must go to the students of Parkland and the 'March for Our Lives' when students throughout the US took to the streets to demand tougher laws.”

While the Democrats are making the running on the issue, Rick Scott is not the only Republican governor ready to act.

Governor Phil Scott of Vermont, who once was given an A rating by the National Rifle Association, the powerful gun lobby group, signed off on the most restrictive laws in the state’s history.

He acted after police foiled an alleged plot by a shooter to stage a massacre at a local high school. He not only raised the minimum age for gun ownership to 21, but also gave police powers to confiscate weapons, tightened controls on firearm sales and limited the number of rounds a weapon could fire without reloading.

Mr Scott was pilloried by NRA supporters who accused him of treachery to the cause of gun ownership.

Larry Hogan, the Republican governor of Maryland, has infuriated the NRA by turning down the group’s money.

The gun lobby group seems to be on the back foot, with current figures showing that it is being outspent by its opponents in state elections.

Candidates across the country appear to be burnishing their anti-gun credentials as association with the NRA becomes increasingly toxic.

“I think what makes it unique is the volume of public support. Polling shows that these are changes the overwhelming majority of people want,” said Andrew Patrick, media director of the Coalition to Stop Gun Violence.

“I think it is going to be a huge issue in the mid-term elections," he said.

“I believe the NRA is in its weakest position for some time with it facing highest disapproval rating for years.

“I don’t think they are used to being held at arm’s length.”

The NRA was approached but declined to comment.

Virtuzone GCC Sixes

Date and venue Friday and Saturday, ICC Academy, Dubai Sports City

Time Matches start at 9am

Groups

A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs

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Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
RESULTS

6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
Winner: AF Alajaj, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby

7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
Winner: Azure Coast, Antonio Fresu, Pavel Vashchenko

7.45pm: Business Bay Challenge – Listed (TB) $100,000 (T) 1,400m
Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor

20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill

8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m
Winner: Lord Glitters, Daniel Tudhope, David O'Meara

9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m
Winner: Meraas, Antonio Fresu, Musabah Al Muhairi

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
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Developer: Treyarch, Raven Software
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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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COMPANY PROFILE
Name: Almnssa
Started: August 2020
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Based: Gaza
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Investments: Grants/private funding
The specs

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TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5