US President Donald Trump and US Vice President Mike Pence(L) visit the Martin Luther King Jr. Memorial in Washington, DC on Martin Luther King Day on January 21, 2019.  / AFP / MANDEL NGAN
US President Donald Trump has frosty relations with China and it could get worse. AFP.

US-China relations set to worsen in 2019, says analyst



China’s relationship with the US is set to deteriorate in the coming year following its record breaking landing on the dark side of the moon, according to a new report predicting major geopolitical risks in 2019.

Falanx Assynt said China’s ambitious space programme could deepen a tech “cold war” with the US and widen the rift in trade tensions over the next 12 months.

China successfully landed a spacecraft on the far side of the moon in January, the first country to attempt to do so.

Chinese state broadcaster CCTV released the first close upshots of the far lunar surface, though much detail of the mission had been kept secret.

The country launched more spacecraft into orbit than any other country in 2018.

American space agency NASA announced on Saturday that it expects to collaborate more with counterparts in Beijing, an indication that tensions in other areas such as science are slowly thawing.

Relations between US President Donald Trump and Chinese Premier Xi Jinping have been strained since Mr Trump imposed billions of dollars’ worth of tariffs on some Chinese imports, including steel and washing machines, in 2018.

Beijing hit back with $110 billion worth of tariffs.

Both countries agreed to halt further increases in tariffs until March.

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So far, the US has imposed three rounds of tariffs on Chinese goods, totalling more than $250 billion.

President Trump has threatened to impose tariffs on all Chinese goods imported into the US.

In a study of five major political predictions for 2019, analyst Falanx Assynt said it expects the Taliban to capture new territory in Afghanistan, emerging markets to be hit by the spread of fake news, Libyan oil production to hit record highs and an end to the civil war in The Philippines.

At Everton Appearances: 77; Goals: 17

At Manchester United Appearances: 559; Goals: 253

UAE'S YOUNG GUNS

1 Esha Oza, age 26, 79 matches

2 Theertha Satish, age 20, 66 matches

3 Khushi Sharma, age 21, 65 matches

4 Kavisha Kumari, age 21, 79 matches

5 Heena Hotchandani, age 23, 16 matches

6 Rinitha Rajith, age 18, 34 matches

7 Samaira Dharnidharka, age 17, 53 matches

8 Vaishnave Mahesh, age 17, 68 matches

9 Lavanya Keny, age 17, 33 matches

10 Siya Gokhale, age 18, 33 matches

11 Indhuja Nandakumar, age 18, 46 matches

A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

Pros and cons of BNPL

Pros

  • Easy to use and require less rigorous credit checks than traditional credit options
  • Offers the ability to spread the cost of purchases over time, often interest-free
  • Convenient and can be integrated directly into the checkout process, useful for online shopping
  • Helps facilitate cash flow planning when used wisely

Cons

  • The ease of making purchases can lead to overspending and accumulation of debt
  • Missing payments can result in hefty fees and, in some cases, high interest rates after an initial interest-free period
  • Failure to make payments can impact credit score negatively
  • Refunds can be complicated and delayed

Courtesy: Carol Glynn

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

The years Ramadan fell in May

1987

1954

1921

1888

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Director: Nag Ashwin

Starring: Prabhas, Saswata Chatterjee, Deepika Padukone, Amitabh Bachchan, Shobhana

Rating: ★★★★

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

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.”

Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

Company profile

Company name: Nestrom

Started: 2017

Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi

Based: Jordan

Sector: Technology

Initial investment: Close to $100,000

Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors

The Bio

Favourite place in UAE: Al Rams pearling village

What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft

Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans

Best time to swim in the sea: When there is enough light to see beneath the surface

The biog

DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year

Signs of heat stroke
  • The loss of sodium chloride in our sweat can lead to confusion and an altered mental status and slurred speech
  • Body temperature above 39°C
  • Hot, dry and red or damp skin can indicate heatstroke
  • A faster pulse than usual
  • Dizziness, nausea and headaches are also signs of overheating
  • In extreme cases, victims can lose consciousness and require immediate medical attention
US tops drug cost charts

The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.

Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.

In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.

Some of the costliest drugs worldwide include Lipitor for high cholesterol. 

The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.

High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.

The Gentlemen

Director: Guy Ritchie

Stars: Colin Farrell, Hugh Grant 

Three out of five stars

SPECS

Engine: Dual electric motors with 102kW battery pack

Power: 570hp

Torque: 890Nm

Range: Up to 428km

On sale: Now

Price: From Dh1,700,000

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed