• Fireworks on the boardwalk at New York's historic Coney Island. Photo: Bob Jagendorf
    Fireworks on the boardwalk at New York's historic Coney Island. Photo: Bob Jagendorf
  • Face-painting is often a US holiday tradition. Photo: US National Archives
    Face-painting is often a US holiday tradition. Photo: US National Archives
  • The National Archives celebrates Independence Day with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities, this time in 2019 in Washington DC. Nara Photo by Jeffrey Reed.
    The National Archives celebrates Independence Day with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities, this time in 2019 in Washington DC. Nara Photo by Jeffrey Reed.
  • Washington Nationals Racing Presidents stop at the National Archives to shoot a new fourth-inning race introduction video, where they were met by US Archivist David Ferriero.
    Washington Nationals Racing Presidents stop at the National Archives to shoot a new fourth-inning race introduction video, where they were met by US Archivist David Ferriero.
  • Visitors read the US Constitution on display at the National Archives in Washington.
    Visitors read the US Constitution on display at the National Archives in Washington.
  • The skyrockets' red glare lights up the Washington Monument. Photo: Joseph Gruber
    The skyrockets' red glare lights up the Washington Monument. Photo: Joseph Gruber
  • The National Archives celebrates Independence Day with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities on July 4, 2019, in Washington DC. NARA Photo by Jeffrey Reed.
    The National Archives celebrates Independence Day with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities on July 4, 2019, in Washington DC. NARA Photo by Jeffrey Reed.
  • A man and his patriotic dog show their civic pride. Photo Faith Goble
    A man and his patriotic dog show their civic pride. Photo Faith Goble
  • Role players recreate a scene from 1776 for an audience outside Washington's National Archives. Photo: US National Archives
    Role players recreate a scene from 1776 for an audience outside Washington's National Archives. Photo: US National Archives
  • Disneyland's Space Mountain and an epic fireworks display. Photo: Don Sullivan
    Disneyland's Space Mountain and an epic fireworks display. Photo: Don Sullivan
  • The National Archives celebrates Independence Day with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities on July 4, 2019 in Washington DC. NARA Photo by Ted Chaffman.
    The National Archives celebrates Independence Day with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities on July 4, 2019 in Washington DC. NARA Photo by Ted Chaffman.
  • Costumed role players participate in Washington's Independence Day tradition. Photo: US National Archives
    Costumed role players participate in Washington's Independence Day tradition. Photo: US National Archives
  • Independence Day in the US is celebrated from coast to coast. Photo: US Army
    Independence Day in the US is celebrated from coast to coast. Photo: US Army
  • Flag-bearing Fourth of July revellers rumble through the streets of middle America. Photo: Ken Mattison
    Flag-bearing Fourth of July revellers rumble through the streets of middle America. Photo: Ken Mattison
  • Macy's department store hosts one of the nation's largest displays of fireworks on New York's East River. Photo: Dan Nguyen
    Macy's department store hosts one of the nation's largest displays of fireworks on New York's East River. Photo: Dan Nguyen
  • A four-legged American shows its colours. Photo: Randy Robertson
    A four-legged American shows its colours. Photo: Randy Robertson
  • Parades throughout the streets of America are a Fourth of July tradition and give classic car owners a chance to strut their stuff. Photo: Robert Couse-Baker
    Parades throughout the streets of America are a Fourth of July tradition and give classic car owners a chance to strut their stuff. Photo: Robert Couse-Baker
  • Residents of Berkeley, California, enjoy an evening of pyrotechnics. Photo: Daniel Parks
    Residents of Berkeley, California, enjoy an evening of pyrotechnics. Photo: Daniel Parks
  • A giant bald eagle balloon makes its way through Washington and past the National Archives. Photo: US National Archives
    A giant bald eagle balloon makes its way through Washington and past the National Archives. Photo: US National Archives
  • The National Archives hosts an annual Independence Day celebration with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities. Photo: US National Archives
    The National Archives hosts an annual Independence Day celebration with musical performances, a dramatic reading of the Declaration of Independence, and history-related family activities. Photo: US National Archives
  • An air dancer by the National Archives on the Fourth of July in Washington. Photo: US National Archives
    An air dancer by the National Archives on the Fourth of July in Washington. Photo: US National Archives
  • The National Mall, with Washington monuments and the US Capitol in the background, forms a beautiful and patriotic backdrop to America's Independence Day celebrations. Photo: Carol Highsmith
    The National Mall, with Washington monuments and the US Capitol in the background, forms a beautiful and patriotic backdrop to America's Independence Day celebrations. Photo: Carol Highsmith

World

US

July 4: America set for day of fireworks and hotdogs on Independence Day 2022

American Independence Day celebrations set to return on a scale not seen since before the pandemic

The National

July 04, 2022

  • English
  • Arabic

Independence Day, also known as the Fourth of July, marks the date in 1776 when the 13 original colonies of North America officially declared themselves to be free from the British Crown in an event that is considered to be America's birthday.

The date has been a public holiday since 1941, and this year the US will celebrate the day with patriotic events including spectacular fireworks displays, parades, picnics and barbeques on a scale not seen since before the Covid-19 pandemic.

What US events are planned for 4th July 2022?

In Washington, the Fourth of July parade is back for the first time since 2019, and the US capital's Mayor, Muriel Bowser, invited locals and visitors to join her on the walk along a flag-festooned National Mall.

Also in Washington this weekend is the Smithsonian Folklife Festival, which features stands and displays showing Emirati culture in the Living Landscape, Living Memory exhibition.

Public celebrations in Washington were all but cancelled in 2020 as the pandemic raged but returned on a small scale last year.

In New York, a hot-dog-eating contest sees contestants gulping down as many sausages and buns as they can in 10 minutes.

The defending champ and men's record holder is Joey Chestnut, who managed 76 hot dogs in 2020. The top woman is Michelle Lesco, who ate 30.75 hot dogs at last year's event.

Not happening in Washington in 2022: a repeat of the military parade that former president Donald Trump ordered for 2019, in which F-18s flew over DC and tanks thundered down its streets.

The cost of the extravaganza raised eyebrows in Washington and locals in the heavily Democrat city worried it was more like a “Make America Great Again” rally than a joyful celebration of the nation's founding.

  • In this July 4, 1971 photo, President Richard Nixon signs the Constitution's newest amendment which guarantees 18-year-olds the right to vote in all elections. AP Photo
    In this July 4, 1971 photo, President Richard Nixon signs the Constitution's newest amendment which guarantees 18-year-olds the right to vote in all elections. AP Photo
  • In this July 4, 1981 photo, US President Jimmy Carter, his wife Rosalynn Carter, right, and daughter Amy Carter, wave to the crowd along Peachtree Street as they lead a parade through the streets in Atlanta. AP Photo
    In this July 4, 1981 photo, US President Jimmy Carter, his wife Rosalynn Carter, right, and daughter Amy Carter, wave to the crowd along Peachtree Street as they lead a parade through the streets in Atlanta. AP Photo
  • In this July 4, 1984, photo, President Ronald Reagan congratulates stock car driver Richard Petty, who won the Firecracker 400 race at the Daytona International Speedway in Daytona Beach, Fla. (AP Photo/Ira Schwarz, File)
    In this July 4, 1984, photo, President Ronald Reagan congratulates stock car driver Richard Petty, who won the Firecracker 400 race at the Daytona International Speedway in Daytona Beach, Fla. (AP Photo/Ira Schwarz, File)
  • In this July 4, 1996 photo, President Bill Clinton, right, watches a young American Bald Eagle named Freedom being released into the wild. AP Photo
    In this July 4, 1996 photo, President Bill Clinton, right, watches a young American Bald Eagle named Freedom being released into the wild. AP Photo
  • In this July 4, 2001 photo, President George W Bush celebrates the Fourth of July holiday in Philadelphia and poses with that city's baseball mascot, the Philly Phanatic. AP Photo
    In this July 4, 2001 photo, President George W Bush celebrates the Fourth of July holiday in Philadelphia and poses with that city's baseball mascot, the Philly Phanatic. AP Photo
  • In this July 4, 2009 photo, President Barack Obama shakes hands with members of the United States armed services and their guests while hosting a Fourth of July party on the South Lawn of the White House in Washington. AP Photo
    In this July 4, 2009 photo, President Barack Obama shakes hands with members of the United States armed services and their guests while hosting a Fourth of July party on the South Lawn of the White House in Washington. AP Photo
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While you're here

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.”

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The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

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Updated: July 04, 2022, 10:44 AM
Independence day