UK Foreign Secretary Liz Truss arrives for the Conservative Party leadership hustings in Manchester, England, on Friday. Bloomberg
UK Foreign Secretary Liz Truss arrives for the Conservative Party leadership hustings in Manchester, England, on Friday. Bloomberg
UK Foreign Secretary Liz Truss arrives for the Conservative Party leadership hustings in Manchester, England, on Friday. Bloomberg
UK Foreign Secretary Liz Truss arrives for the Conservative Party leadership hustings in Manchester, England, on Friday. Bloomberg

Michael Gove accuses Liz Truss of taking a 'holiday from reality'


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Former UK Cabinet minister Michael Gove has endorsed Rishi Sunak to be the next Conservative leader, accusing Liz Truss of taking a “holiday from reality” with her plans to cut tax during the cost-of-living crisis.

He suggested the foreign secretary's proposals would put “the stock options of FTSE 100 executives” before the nation's poorest people.

Mr Gove also said he does not expect to return to front bench politics, as he first backed underdog Kemi Badenoch in the race to replace Boris Johnson in No 10.

Writing in The Times, he said: “I do not expect to be in government again. But it was the privilege of my life to spend 11 years in the Cabinet under three prime ministers. I know what the job requires. And Rishi has it.”

He criticised Ms Truss's plan to immediately reverse the national insurance rise and her previous dismissal of increasing direct support to the most vulnerable when she said she opposed “handouts”.

On the economy, Mr Gove said: “And here I am deeply concerned that the framing of the leadership debate by many has been a holiday from reality. The answer to the cost-of-living crisis cannot be simply to reject further 'handouts' and cut tax.

“Proposed cuts to national insurance would favour the wealthy, and changes to corporation tax apply to big businesses, not small entrepreneurs.

“I cannot see how safeguarding the stock options of FTSE 100 executives should ever take precedence over supporting the poorest in our society, but at a time of want, it cannot be the right priority.”

Mr Gove said he does not believe Ms Truss's “prospectus is the right answer for the world we face”.

“It does not address the fundamental problems of potential neglected, productivity suppressed and the vulnerable suffering the most,” he wrote.

At the party hustings in Manchester on Friday night, Ms Truss reiterated her plan to lift the ban on new grammar schools, saying she wants everyone “right across the country” to have the choice to enrol their children at them.

But Mr Gove highlighted the grammar schools pledge, when there is “neither the money to build them nor the evidence they advance social mobility”, as among her plans that should not be among the Conservatives' priorities.

He launched a defence of Mr Sunak, saying the tax rises he ushered in as chancellor were “a consequence of Covid, not Rishi's inner preferences”.

And Mr Gove hit out at those who have recently backed Ms Truss, saying the “SW1 consensus” predicts she is the most likely candidate to win.

“A bandwagon is clattering down Whitehall with eager new adherents clambering aboard,” Mr Gove said.

The Sunak campaign welcomed his backing, with a spokeswoman saying: “Delighted to have the support of a party and Cabinet veteran who has intellectual heft and shown the radical reforming zeal in every job he has had, that we now so desperately need.”

Mr Johnson sacked Mr Gove as levelling-up secretary after the former Cabinet minister told him to quit as prime minister before his ultimate resignation.

Truss attacks BBC

At the hustings in front of Tory members, who will choose the next leader, Ms Truss chose to attack the BBC as she sidestepped a question about a 2009 paper she co-authored that called for charges for patients seeing GPs — whom she also said should have their pay cut by 10 per cent along with registrars and consultants.

GB News's Alastair Stewart tried to ask her about the report, rediscovered this week by TalkTV, but mistakenly said it was written in 2019.

Ms Truss laughed and said: “I always thought you had high-quality standards at GB News — it's not the BBC, you actually get your facts right.”

Liz Truss — in pictures

  • British Foreign Secretary Liz Truss is one of the candidates in the race to replace Boris Johnson as British Prime Minister. Bloomberg
    British Foreign Secretary Liz Truss is one of the candidates in the race to replace Boris Johnson as British Prime Minister. Bloomberg
  • Boris Johnson and Liz Truss arrive for an extraordinary summit at Nato Headquarters in Brussels, in March this year. AFP
    Boris Johnson and Liz Truss arrive for an extraordinary summit at Nato Headquarters in Brussels, in March this year. AFP
  • Russian Foreign Minister Sergey Lavrov and Liz Truss arrive for talks in Moscow in February. AP
    Russian Foreign Minister Sergey Lavrov and Liz Truss arrive for talks in Moscow in February. AP
  • Liz Truss in Red Square during a visit to Moscow in February. Simon Dawson / No10 Downing Street
    Liz Truss in Red Square during a visit to Moscow in February. Simon Dawson / No10 Downing Street
  • Liz Truss with Marise Payne, the Australian Minister of Foreign Affairs, at Government House in Sydney, Australia, in January. Simon Dawson / No10 Downing Street
    Liz Truss with Marise Payne, the Australian Minister of Foreign Affairs, at Government House in Sydney, Australia, in January. Simon Dawson / No10 Downing Street
  • Liz Truss hosts Vice President of the European Commission Maros Sefcovic at Chevening House in January to discuss the Northern Ireland protocol. Simon Dawson / No10 Downing Street
    Liz Truss hosts Vice President of the European Commission Maros Sefcovic at Chevening House in January to discuss the Northern Ireland protocol. Simon Dawson / No10 Downing Street
  • Liz Truss visits British troops in Estonia as they operate alongside other Nato troops in Tapa in November 2021. Simon Dawson / No10 Downing Street
    Liz Truss visits British troops in Estonia as they operate alongside other Nato troops in Tapa in November 2021. Simon Dawson / No10 Downing Street
  • Liz Truss walks through the old town in Tallinn, Estonia, in November 2021. Simon Dawson / No10 Downing Street
    Liz Truss walks through the old town in Tallinn, Estonia, in November 2021. Simon Dawson / No10 Downing Street
  • Ms Truss at the Red Fort in New Delhi during a trip to India in October 2021. Simon Dawson / No10 Downing Street
    Ms Truss at the Red Fort in New Delhi during a trip to India in October 2021. Simon Dawson / No10 Downing Street
  • The British foreign secretary on the Plaza de la Constitucion in Mexico City, during a trip to Mexico in September 2021. Simon Dawson / No10 Downing Street
    The British foreign secretary on the Plaza de la Constitucion in Mexico City, during a trip to Mexico in September 2021. Simon Dawson / No10 Downing Street
  • Liz Truss with Antony Blinken, the United States secretary of state, in New York, September 2021. Simon Dawson / No10 Downing Street
    Liz Truss with Antony Blinken, the United States secretary of state, in New York, September 2021. Simon Dawson / No10 Downing Street
  • Liz Truss on a morning jog over Brooklyn Bridge in New York in September 2021. Simon Dawson / No10 Downing Street
    Liz Truss on a morning jog over Brooklyn Bridge in New York in September 2021. Simon Dawson / No10 Downing Street
  • When she was environmental minister, Ms Truss visited the bridge over the River Wharfe in Tadcaster, which collapsed after heavy flooding in December 2015. Getty Images
    When she was environmental minister, Ms Truss visited the bridge over the River Wharfe in Tadcaster, which collapsed after heavy flooding in December 2015. Getty Images
  • Addressing the Conservative party conference in Birmingham in 2014 when she was secretary of state for environment, food and rural affairs. Getty Images
    Addressing the Conservative party conference in Birmingham in 2014 when she was secretary of state for environment, food and rural affairs. Getty Images
What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
if you go

The flights

Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.

The hotel

Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850

 Events and tours

There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com

For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art. 

More information

For ideas on planning a trip to Scotland, visit www.visitscotland.com

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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

Biog:

Age: 34

Favourite superhero: Batman

Favourite sport: anything extreme

Favourite person: Muhammad Ali 

How to report a beggar

Abu Dhabi – Call 999 or 8002626 (Aman Service)

Dubai – Call 800243

Sharjah – Call 065632222

Ras Al Khaimah - Call 072053372

Ajman – Call 067401616

Umm Al Quwain – Call 999

Fujairah - Call 092051100 or 092224411

The story of Edge

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.

It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.

Edge has an annual revenue of $5 billion and employs more than 12,000 people.

Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab

 

RESULTS

6pm: Al Maktoum Challenge Round-2 – Group 1 (PA) $55,000 (Dirt) 1,900m
Winner: Rajeh, Antonio Fresu (jockey), Musabah Al Muhairi (trainer)

6.35pm: Oud Metha Stakes – Rated Conditions (TB) $60,000 (D) 1,200m
Winner: Get Back Goldie, William Buick, Doug O’Neill

7.10pm: Jumeirah Classic – Listed (TB) $150,000 (Turf) 1,600m
Winner: Sovereign Prince, James Doyle, Charlie Appleby

7.45pm: Firebreak Stakes – Group 3 (TB) $150,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer

8.20pm: Al Maktoum Challenge Round-2 – Group 2 (TB) $350,000 (D) 1,900m
Winner: Hot Rod Charlie, William Buick, Doug O’Neill

8.55pm: Al Bastakiya Trial – Conditions (TB) $60,000 (D) 1,900m
Winner: Withering, Adrie de Vries, Fawzi Nass

9.30pm: Balanchine – Group 2 (TB) $180,000 (T) 1,800m
Winner: Creative Flair, William Buick, Charlie Appleby

Results

2.30pm: Park Avenue – Conditions (PA) Dh80,000 (Dirt) 2,000m; Winner: Rb Seqondtonone, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)

3.05pm: Al Furjan – Maiden (TB) Dh82,500 (Turf) 1,200m; Winner: Bosphorus, Dane O’Neill, Bhupat Seemar

3.40pm: Mina – Rated Condition (TB) Dh105,000 (D) 1,600m; Winner: Royal Mews, Tadhg O’Shea, Bhupat Seemar

4.15pm: Aliyah – Handicap (TB) Dh87,500 (T) 1,900m; Winner: Ursa Minor, Ray Dawson, Ahmad bin Harmash

4.50pm: Riviera Beach – Rated Conditions (TB) Dh95,000 (D) 2,200m; Winner: Woodditton, Saif Al Balushi, Ahmad bin Harmash

5.25pm: Riviera – Handicap (TB) Dh2,000 (T) 2,000m; Winner: Al Madhar, Antonio Fresu, Musabah Al Muhairi

6pm: Creek Views – Handicap (TB) Dh95,000 (T) 1,400m; Winner: Al Salt, Dane O’Neill, Erwan Charpy

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Results

Catchweight 60kg: Mohammed Al Katheeri (UAE) beat Mostafa El Hamy (EGY) TKO round 3

Light Heavyweight: Ibrahim El Sawi (EGY) no contest Kevin Oumar (COM) Unintentional knee by Oumer

Catchweight 73kg:  Yazid Chouchane (ALG) beat Ahmad Al Boussairy (KUW) Unanimous decision

Featherweight: Faris Khaleel Asha (JOR) beat Yousef Al Housani (UAE) TKO in round 2 through foot injury

Welterweight: Omar Hussein (JOR) beat Yassin Najid (MAR); Split decision

Middleweight: Yousri Belgaroui (TUN) beat Sallah Eddine Dekhissi (MAR); Round-1 TKO

Lightweight: Abdullah Mohammed Ali Musalim (UAE) beat Medhat Hussein (EGY); Triangle choke submission

Welterweight: Abdulla Al Bousheiri (KUW) beat Sofiane Oudina (ALG); Triangle choke Round-1

Lightweight: Mohammad Yahya (UAE) beat Saleem Al Bakri (JOR); Unanimous decision

Bantamweight: Ali Taleb (IRQ) beat Nawras Abzakh (JOR); TKO round-2

Catchweight 63kg: Rany Saadeh (PAL) beat Abdel Ali Hariri (MAR); Unanimous decision

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Landfill in numbers

• Landfill gas is composed of 50 per cent methane

• Methane is 28 times more harmful than Co2 in terms of global warming

• 11 million total tonnes of waste are being generated annually in Abu Dhabi

• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year

• 20,000 litres of cooking oil produced in Abu Dhabi’s cafeterias and restaurants every day is thrown away

• 50 per cent of Abu Dhabi’s waste is from construction and demolition

RESULTS

Tottenham 1

Jan Vertonghen 13'

Norwich 1

Josip Drmic 78'

2-3 on penalties

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

Global Fungi Facts

• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

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 Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Brief scores:

Newcastle United 1

Perez 23'

Wolverhampton Rovers 2

Jota 17', Doherty 90' 4

Red cards: Yedlin 57'

Man of the Match: Diogo Jota (Wolves)

Monster

Directed by: Anthony Mandler

Starring: Kelvin Harrison Jr., John David Washington 

3/5

 

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

Company%20Profile
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Long read

Mageed Yahia, director of WFP in UAE: Coronavirus knows no borders, and neither should the response

Updated: August 20, 2022, 10:42 AM