US Speaker of the House Nancy Pelosi answers questions during her weekly news conference in Washington. Getty Images / AFP
US Speaker of the House Nancy Pelosi answers questions during her weekly news conference in Washington. Getty Images / AFP
US Speaker of the House Nancy Pelosi answers questions during her weekly news conference in Washington. Getty Images / AFP
US Speaker of the House Nancy Pelosi answers questions during her weekly news conference in Washington. Getty Images / AFP

Nancy Pelosi says bill addressing US politicians' stock holdings imminent


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Proposed legislation to tighten rules on US politicians' stock holdings and trades should come together later this month, House of Representatives Speaker Nancy Pelosi told reporters at a news conference on Wednesday.

While Ms Pelosi characterised the unfinished legislation as “very strong”, she did not say during a weekly news conference whether congressional staff would be included under its provisions. She gave no details on what the bill will contain.

A House vote on the legislation would follow months of committees trying to put together a bill. Congress will go on a long break next month in the run-up to the November 8 midterm elections.

Nancy Pelosi had voiced some reluctance to go ahead with measures that could possibly ban members of Congress from buying and selling stocks and tighten controls on other financial transactions. Getty Images / AFP
Nancy Pelosi had voiced some reluctance to go ahead with measures that could possibly ban members of Congress from buying and selling stocks and tighten controls on other financial transactions. Getty Images / AFP

The bill's goal is to make politicians' financial dealings more transparent and impose new limits to tamp down on possible conflicts of interest.

Early on, Ms Pelosi voiced some reluctance to go ahead with measures that could possibly ban members of Congress from buying and selling stocks and tighten controls on other financial transactions.

But later she said the House would at some point advance a bill.

In July, some stock trades executed by Ms Pelosi's husband, Paul Pelosi, drew attention when he sold his shares of chipmaker Nvidia Corp days before the House was expected to consider legislation providing subsidies and tax credits worth more than $70 billion to boost the US semiconductor industry.

Mr Pelosi sold 25,000 shares of Nvidia for about $4.1 million, suffering a loss of $341,365, financial reports show.

What does the US Fed rate rise mean for UAE residents?

  • Federal Reserve Chairman Jerome Powell holds a news conference following the announcement that the Fed raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, US. Reuters
    Federal Reserve Chairman Jerome Powell holds a news conference following the announcement that the Fed raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, US. Reuters
  • The Central Bank of the UAE also increased its base rate for the overnight deposit facility (ODF) by half a percentage point point. Photo: Central Bank of the UAE
    The Central Bank of the UAE also increased its base rate for the overnight deposit facility (ODF) by half a percentage point point. Photo: Central Bank of the UAE
  • Residents with variable rate mortgages will feel the change as soon as their next monthly payment is due. Antonie Robertson / The National
    Residents with variable rate mortgages will feel the change as soon as their next monthly payment is due. Antonie Robertson / The National
  • Changes to credit card interest rates are expected within a billing cycle or two. Antonie Robertson / The National
    Changes to credit card interest rates are expected within a billing cycle or two. Antonie Robertson / The National
  • Monthly instalments on personal loans and car financing are also set to rise. Razan Alzayani / The National
    Monthly instalments on personal loans and car financing are also set to rise. Razan Alzayani / The National
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
UAE currency: the story behind the money in your pockets

Charlotte Gainsbourg

Rest

(Because Music)

The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi 

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution) 

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space  

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

All the Money in the World

Director: Ridley Scott

Starring: Charlie Plummer, Mark Wahlberg, Michelle Williams, Christopher Plummer

Four stars

if you go

The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to ­Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Bundesliga fixtures

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 

RB Leipzig v Freiburg (4.30pm) 

Hoffenheim v Hertha Berlin (4.30pm) 

Fortuna Dusseldorf v Paderborn  (4.30pm) 

Augsburg v Wolfsburg (4.30pm) 

Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),

Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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Updated: June 21, 2023, 9:02 AM