Walter Mondale, a leading liberal Democratic voice of the late 20th century who was vice president under Jimmy Carter, died on Monday at the age of 93.
The death of the former senator, ambassador and Minnesota attorney general was announced in a statement from his family. No cause was cited.
Mondale, the first major US party presidential nominee to pick a woman running mate and who lost in a historic landslide to Ronald Reagan in the 1984 election, died in Minneapolis.
Widely known as “Fritz”, Mondale was a US senator and vice president during Mr Carter’s troubled one-term presidency from 1977 to 1981. He believed in an activist government and worked for civil rights, school integration, consumer protection and farm and labour interests.
In a statement released on Monday night, the former president said he considered Mondale “the best vice president in our country’s history”.
“Fritz Mondale provided us all with a model for public service and private behaviour,” he said.
Mondale also served as US ambassador to Japan from 1993 to 1996 under Bill Clinton, fighting for US access to markets such as cars and mobile phones.
He helped avert a trade war in June 1995 over cars and car parts, persuading Japanese officials to give American carmakers more access to Japanese dealers and pushing Japanese carmakers to buy US parts.
Mondale kept his ties to the Clintons. In 2008, he endorsed Hillary Clinton for president, switching his allegiance only after Barack Obama sealed the nomination.
Mondale was the Democratic nominee in 1984 against Reagan, a popular incumbent Republican who had beaten former president Carter four years earlier, and selected New York Democratic US congresswoman Geraldine Ferraro as his vice presidential running mate.
But Mondale suffered one of the worst defeats ever in a US presidential election, losing in 49 of the 50 states and carrying only his native Minnesota as well as Washington, DC.
It was the first of two times that Mondale was sent into political retirement by a crushing defeat.
Eighteen years later, grieving Minnesota Democrats beseeched Mondale, then 74, to run for Senate after senator Paul Wellstone died in a plane crash 11 days before the 2002 election. Mondale lost narrowly to Republican Norm Coleman, who depicted him as the greying representative of a bygone era.
During his race against Reagan, Mondale promised Americans he would raise their taxes, a vow that did little to help his candidacy.
“I mean business. By the end of my first term, I will reduce the Reagan budget deficit by two thirds,” Mondale said during his speech in San Francisco accepting the 1984 Democratic presidential nomination. “Let’s tell the truth. It must be done, it must be done. Mr Reagan will raise taxes, and so will I. He won’t tell you. I just did.”
The remark helped sink his campaign. Even years later, he expressed no regrets. “I’m really glad I did it,” he told PBS in 2004. “It’s something that I felt good about and I thought I told the truth.”
Earlier that year, Mondale made a memorable political quip when, during a primary debate, he tried to depict Gary Hart, a rival for his party’s presidential nomination, as all style and no substance by asking: “Where’s the beef?”
The line, borrowed from a humorous hamburger commercial popular at the time, hurt Mr Hart’s campaign.
Mondale was a protege of fellow Minnesota liberal Hubert Humphrey, also a senator and vice president, who lost the 1968 presidential election to Republican Richard Nixon.
Mondale served in the Senate from 1964 until he was elected as vice president in former president Carter’s 1976 victory over incumbent Republican Gerald Ford, who had become president after Nixon resigned in 1974 due to the Watergate corruption scandal.
Mondale became a more engaged vice president than many who preceded him. He played a key role in buttressing the sometimes frayed relationship between the Carter White House and the Democrat-controlled Congress.
Mondale and his wife, Joan Adams Mondale, were married in 1955.
The couple had two sons, Ted and William, and a daughter, Eleanor. Eleanor Mondale became a broadcast journalist and TV host, with credits including CBS This Morning and programmes with E! Entertainment Television. She died of cancer in 2011. Ted Mondale served for six years in the Minnesota Senate and made an unsuccessful bid for the Democratic nomination for governor in 1998. William Mondale served for a time as an assistant attorney general.
Joan Mondale died in 2014 at age 83 after an extended illness.
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Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian
Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco
Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French
Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco
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India cancels school-leaving examinations
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PSG's line up
GK: Alphonse Areola (youth academy)
Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)
Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)
Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m)
Total cost: €440.4m (€620.4m if Mbappe makes permanent move)
General%20Classification
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
BRAZIL%20SQUAD
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Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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The years Ramadan fell in May
COMPANY%20PROFILE
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COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
Available at Magrudy’s , Dh104
FIXTURES
All kick-off times UAE ( 4 GMT)
Friday
Sevilla v Levante (midnight)
Saturday
Athletic Bilbao v Real Sociedad (7.15pm)
Eibar v Valencia (9.30pm)
Atletico Madrid v Alaves (11.45pm)
Sunday
Girona v Getafe (3pm)
Celta Vigo v Villarreal (7.15pm)
Las Palmas v Espanyol (9.30pm)
Barcelona v Deportivo la Coruna (11.45pm)
Monday
Malaga v Real Betis (midnight)
Defined benefit and defined contribution schemes explained
Defined Benefit Plan (DB)
A defined benefit plan is where the benefit is defined by a formula, typically length of service to and salary at date of leaving.
Defined Contribution Plan (DC)
A defined contribution plan is where the benefit depends on the amount of money put into the plan for an employee, and how much investment return is earned on those contributions.
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Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
UAE currency: the story behind the money in your pockets
'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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.”
The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
India Test squad
Virat Kohli (c), Mayank Agarwal, Rohit Sharma, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Rishabh Pant (wk), Wriddhiman Saha (wk), Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Shubman Gill
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5