Republican Presidential candidate Donald Trump speaks in Youngstown, Ohio, Monday, Aug. 15, 2016. (AP Photo/Gerald Herbert)
Republican Presidential candidate Donald Trump speaks in Youngstown, Ohio, Monday, Aug. 15, 2016. (AP Photo/Gerald Herbert)
Republican Presidential candidate Donald Trump speaks in Youngstown, Ohio, Monday, Aug. 15, 2016. (AP Photo/Gerald Herbert)
Republican Presidential candidate Donald Trump speaks in Youngstown, Ohio, Monday, Aug. 15, 2016. (AP Photo/Gerald Herbert)

Trump vows to be a ‘friend to all moderate Muslim reformers in the Middle East’


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NEW YORK // Donald Trump has laid out a US blueprint for defeating global terrorism in partnership with Nato and Middle East allies, demanding extreme restrictions on immigration and likening the fight to the Cold War.

The Republican nominee, who is tanking in the polls following weeks of self-inflicted disasters, made his pitch to be a security strongman as the Democratic vice president accused him of imperilling the lives of Americans.

“We will defeat radical Islamic terrorism just as we have defeated every threat we faced at every age,” said Mr Trump on Monday in Ohio, a battleground state considered essential to winning the US presidential election.

His foreign policy address marked the latest attempt by the Trump campaign to get their maverick candidate back on message as his Democratic rival Hillary Clinton surges ahead in the polls.

Watering down his highly contested assertion that Barack Obama and Mrs Clinton created ISIL, Mr Trump said the extremist group was “the direct result of policy decisions” made by the president and former secretary of state, referencing chaos in Iraq and Libya.

He claimed that ISIL, which is the target of US-led air strikes and special forces operations in Iraq and Syria, was “fully operational” in 18 countries and had “aspiring branches in six more”.

The real-estate tycoon and former reality TV star promised to end the US policy of “nation building” and called for a “new approach” in partnership with foreign allies to “halt the spread of radical Islam”.

Mr Trump vowed to work “very closely” with Nato, sidestepping previous criticism of the alliance after saying that a Trump presidency would not automatically leap to members’ defence.

“I have previously said Nato was obsolete because it failed to deal adequately with terrorism. Since my comments, they have changed their policy and now have a new division focused on terror threats, very good,” he said.

Mr Trump also said he believed the United States could find “common ground with Russia” in the fight against the ISIL – a claim bound to do little to silence critics who accuse him of being soft on Russian president Vladimir Putin.

He said his administration would “aggressively pursue joint and coalition military operations to crush and destroy ISIS”, and be a “friend to all moderate Muslim reformers in the Middle East”.

At home, meanwhile, he demanded new immigration screening, saying that the perpetrators of a series of attacks in the United States – including the 9/11 hijackings, the 2013 Boston bombings and the recent mass shooting in an Orlando nightclub – involved “immigrants or the children of immigrants”.

“We should only admit into this country those who share our values and respect our people,” he said, promising to temporarily suspend immigration from “the most dangerous and volatile regions of the world” that export terrorism.

* Agence France-Presse

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PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

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AUSTRALIA SQUAD

Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle

RESULT

Wolves 1 (Traore 67')

Tottenham 2 (Moura 8', Vertonghen 90 1')

Man of the Match: Adama Traore (Wolves)

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

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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.”

PSA DUBAI WORLD SERIES FINALS LINE-UP

Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)

Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)

Dunki
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rajkumar%20Hirani%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Taapsee%20Pannu%2C%20Vikram%20Kochhar%20and%20Anil%20Grover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
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)