President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in New York on January 11, 2017. Evan Vucci/AP Photo
President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in New York on January 11, 2017. Evan Vucci/AP Photo
President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in New York on January 11, 2017. Evan Vucci/AP Photo
President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in New York on January 11, 2017. Evan Vucci/AP Photo

Trump turned down Dh7.3bn Damac deal ‘to avoid conflict of interest’


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New York // Donald Trump on Wednesday launched a blistering attack on American intelligence agencies which he accused of allowing the release of documents containing unverified allegations that Russian agents had compromising information about the president-elect.
He compared their activities with those of Nazi Germany, reopening an unprecedented row with the very agencies he will have to rely on for security when he takes office next Friday.
His first news conference in 167 days was dominated by questions about the controversial memo that suggested Russian intelligence services had obtained details of his sexual activities during a visit to Moscow in 2013.
Pages of the scandalous memo have circulated among US journalists for the past six months but were published by Buzzfeed News on Tuesday evening for the first time.
Mr Trump launched a blistering attack on those media organisations that had published the unverified details, calling it "fake news" before pointing the finger firmly at US intelligence officials.
"It was disgraceful, disgraceful of the intelligence agencies allow out any information that turned out to be so false and fake," he said. "I think it's a disgrace.
"And I say that … and I say that it is something that Nazi Germany would have done."
The allegations, whether true or false, will reinforce concerns that Mr Trump has failed to recognise the danger posed by Russia and its intelligence services in destabilising the US as he attempts to forge closer relations with Moscow.
He conceded on Wednesday that Russia was behind the cyber attack on the Democratic campaign and said he expected an investigation into the hacking to be completed in 90 days.
He also used his platform at Trump Tower in New York to announce that his business would be put in a trust to be run by his sons Don and Eric, and that there would be no new foreign deals for the duration of his presidency.
Mr Trump added that he understood the dangers of a conflict of interest and had rejected a potential deal with Hussein Sajwani, the Damac chairman, whom he described as a good friend.
"Over the weekend, I was offered US$2 billion (Dh7.3bn) to do a deal in Dubai ... a number of deals. And I turned it down," he said.
A Damac spokesman told Reuters "the discussions took place ... but the proposals were declined".
The Trump organisation and the property developer are partners in two golf-related developments as part of Damac's Akoya scheme in Dubai.
The moves to separate himself from his business will reassure some critics of Mr Trump, although it still falls short of a full divestment of his business affairs. And he once again said he would not be releasing his tax returns while they remained under audit.
However, it was the latest intelligence scandal that dominated the run-up to the news conference.
Officials said details of the claims were included in a dossier given to Mr Trump during an intelligence briefing last week.
The FBI is still investigating the credibility of the allegations but their emergence is the latest example of the deep concerns surrounding the president-elect, and his ties to Russia, as he prepares to be sworn in next week.
The dossier on Mr Trump was compiled by a former British intelligence operative – first working for Republican opponents of the property developer and then for Democrats, according to CNN.
The new information alleged contacts between members of the Trump campaign and Moscow. It also suggested Russian intelligence agents had obtained video from a hotel room used by Mr Trump in Moscow.
None of the details have been verified but American officials said the operative had produced credible intelligence in the past.
Mr Trump said it was impossible for him to be caught in a compromising situation.
"I'm extremely careful," he said. "I'm surrounded by bodyguards, I'm surrounded by people. And I always tell them when I'm leaving the country to be very careful because in your hotel rooms and no matter where you go, you are probably going to have cameras."
And he once again said he should not be criticised for seeking closer relations with Moscow and president Vladimir Putin.
"If Putin likes Donald Trump I consider that an asset, not a liability because we have a horrible relationship with Russia," he said.
In his opening remarks he also rattled through a string of economic projects: bringing down drugs prices, attracting car factories to the US and tackling overspending and delays on the F-35 project.
"We're going to have some competition and it's going to be a beautiful thing," he said.
foreign.desk@thenational.ae

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

UAE currency: the story behind the money in your pockets
Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Fixtures

Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs

Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms

Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles

Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon

Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

Abramovich London

A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.

A three-storey penthouse at Chelsea Waterfront bought for £22 million.

Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.

Sale of Chelsea Football Club is now impossible.

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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