US President Joe Biden and his son Hunter attend Mass at Holy Spirit Catholic Church in Johns Island, South Carolina, during a family trip in August. AFP
US President Joe Biden and his son Hunter attend Mass at Holy Spirit Catholic Church in Johns Island, South Carolina, during a family trip in August. AFP
US President Joe Biden and his son Hunter attend Mass at Holy Spirit Catholic Church in Johns Island, South Carolina, during a family trip in August. AFP
US President Joe Biden and his son Hunter attend Mass at Holy Spirit Catholic Church in Johns Island, South Carolina, during a family trip in August. AFP

House republicans to probe Hunter Biden's business dealings and the FBI


Ellie Sennett
  • English
  • Arabic

Republican members of Congress, fresh off securing control of the US House of Representatives, on Thursday announced “investigative actions” against President Joe Biden, his son Hunter, and the wider family's business dealings.

Members of the House Committee on Oversight and Reform asserted that the primary target is the president himself, though the investigation centres on the extent to which Mr Biden was involved in his son's international business dealings and the alleged cover-up attempt.

James Comer of Kentucky said the investigation will pursue “all evidence” but is zeroing in on bank records, claiming the committee has obtained evidence showing “the finances, credit cards and bank accounts of Hunter and Joe Biden were commingled, if not shared”.

Mr Comer also said there was evidence of accounts where “red flags were raised by banks to the account owner or owners indicating suspicious or illegal activity”.

  • House Minority Leader Kevin McCarthy holds a press conference with members of Republican House leadership on the January 6 committee. AFP
    House Minority Leader Kevin McCarthy holds a press conference with members of Republican House leadership on the January 6 committee. AFP
  • Mr McCarthy, a US representative from California, is the leader of the Republican Party in the House. Reuters
    Mr McCarthy, a US representative from California, is the leader of the Republican Party in the House. Reuters
  • Andy Biggs, a US representative from Arizona, questions Homeland Security Secretary Alejandro Mayorkas as he speaks before the House Judiciary Committee. AFP
    Andy Biggs, a US representative from Arizona, questions Homeland Security Secretary Alejandro Mayorkas as he speaks before the House Judiciary Committee. AFP
  • House Minority Whip Steve Scalise speaks as Mr McCarthy listens during a news conference at the Capitol in Washington. AFP
    House Minority Whip Steve Scalise speaks as Mr McCarthy listens during a news conference at the Capitol in Washington. AFP
  • Mr McCarthy heads to his office surrounded by reporters after House investigators issued a subpoena for him and four other Republicans as part of their probe into the violent January 6 insurrection. AP
    Mr McCarthy heads to his office surrounded by reporters after House investigators issued a subpoena for him and four other Republicans as part of their probe into the violent January 6 insurrection. AP
  • Republican Matt Gaetz speaks during a rally with former president Donald Trump before the midterm elections. Reuters
    Republican Matt Gaetz speaks during a rally with former president Donald Trump before the midterm elections. Reuters
  • Marjorie Taylor Greene, a Republican representative from Georgia, attends a rally for Ohio Senate candidate JD Vance. AP
    Marjorie Taylor Greene, a Republican representative from Georgia, attends a rally for Ohio Senate candidate JD Vance. AP
  • Mr Scalise speaks to supporters as he celebrates his re-election in Metairie, Louisiana. AP
    Mr Scalise speaks to supporters as he celebrates his re-election in Metairie, Louisiana. AP
  • Jim Jordan, a US representative from Ohio, arrives to speak before former president Donald Trump at a rally in Ohio. AP
    Jim Jordan, a US representative from Ohio, arrives to speak before former president Donald Trump at a rally in Ohio. AP
  • An image of Mr Scalise and former White House aide Cassidy Hutchinson during a January 6 committee public hearing. Bloomberg
    An image of Mr Scalise and former White House aide Cassidy Hutchinson during a January 6 committee public hearing. Bloomberg
  • Elise Stefanik became chairwoman of the Republican Conference after Liz Cheney was ousted. Bloomberg
    Elise Stefanik became chairwoman of the Republican Conference after Liz Cheney was ousted. Bloomberg
  • Mr Biggs and others spoke out against the committee investigating the January 6 attack and the conditions of the jail where many prisoners arrested in connection to the attack are being held. AFP
    Mr Biggs and others spoke out against the committee investigating the January 6 attack and the conditions of the jail where many prisoners arrested in connection to the attack are being held. AFP
  • Mr Biggs stands next to Ms Greene during a press conference. AFP
    Mr Biggs stands next to Ms Greene during a press conference. AFP
  • Michael McCaul, a Republican representative from Texas, questions Secretary of State Antony Blinken during a House Foreign Affairs Committee hearing in Washington. AP
    Michael McCaul, a Republican representative from Texas, questions Secretary of State Antony Blinken during a House Foreign Affairs Committee hearing in Washington. AP

Republicans allege that the younger Mr Biden has leveraged his father's political stature for personal financial benefit.

In 2019, he joined the board of a Ukrainian natural gas company, and in 2016, an investment firm he cofounded helped a Chinese firm with its business dealings.

“We're trying to stay focused on, was Joe Biden directly involved with Hunter Biden's business deals, and is he compromised?” said Mr Comer at a Thursday press conference.

The announcement comes days after a federal judge ordered an FBI cyber security official to be deposed in a lawsuit in which the bureau has been accused of using coercion to make social media companies block stories related to the younger Mr Biden's laptop in the run-up to the 2020 election.

Republican officials have sought that deposition, among others, in a lawsuit accusing Biden administration officials of government censorship.

Jim Jordan oh Ohio emphasised claims of the “politicisation” of the FBI.

“One the most important things we can do is do the work that needs to be done so that we can hopefully have a Justice Department that doesn't operate in a political fashion,” Mr Jordan said.

The Washington Post reported last month that federal agents had gathered “sufficient evidence” to charge the younger Mr Biden with tax crimes and a false statement related to a gun purchase, citing people familiar with the case.

“We're not going to talk about anything unless we have evidence,” Mr Comer said.

“I don't think a lot of people realise the evidence that's already out there pertaining to Hunter.”

Republicans appear to be making good on promises to investigate the Biden family, now made possible now by their narrow House majority.

The announcement came before Michael McCaul, a Republican on the House Foreign Affairs Committee, promised additional investigations.

He claimed in an interview with The Washington Free Beacon that he is “in possession of documents showing the Biden administration granted export licenses for $60 billion worth of American goods to be sold to Huawei”, the Chinese tech company.

But the announcement did not come without dissent from some members of the conservative party.

Adam Kinzinger, who sits on the House special committee investigating Donald Trump's role in the January 6, 2021, insurrection at the Capitol, tweeted that the party needs to instead focus on record levels of inflation.

Politico reported on Wednesday that a group of top Democratic strategists had launched a multimillion-dollar initiative to serve as the party's “leading war room” against the expected onslaught of Republican-led investigations.

Everton%20Fixtures
%3Cp%3EApril%2015%20-%20Chelsea%20(A)%3Cbr%3EApril%2021%20-%20N.%20Forest%20(H)%3Cbr%3EApril%2024%20-%20Liverpool%20(H)%3Cbr%3EApril%2027%20-%20Brentford%20(H)%3Cbr%3EMay%203%20-%20Luton%20Town%20(A)%3Cbr%3EMay%2011%20-%20Sheff%20Utd%20(H)%3Cbr%3EMay%2019%20-%20Arsenal%20(A)%3C%2Fp%3E%0A
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. 

UAE currency: the story behind the money in your pockets
Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

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.”

Captain Marvel

Director: Anna Boden, Ryan Fleck

Starring: Brie Larson, Samuel L Jackson, Jude Law,  Ben Mendelsohn

4/5 stars

About%20My%20Father
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ELaura%20Terruso%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ERobert%20De%20Niro%2C%20Sebastian%20Maniscalco%2C%20Kim%20Cattrall%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%26nbsp%3B%3C%2Fp%3E%0A
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2041mm%2C%20352%20x%20430%3B%2045mm%2C%20396%20x%20484%3B%20Retina%20LTPO%20OLED%2C%20up%20to%201000%20nits%2C%20always-on%3B%20Ion-X%20glass%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20S8%2C%20W3%20wireless%2C%20U1%20ultra-wideband%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%2032GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%201GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20watchOS%209%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EHealth%20metrics%3A%3C%2Fstrong%3E%203rd-gen%20heart%20rate%20sensor%2C%20temperature%20sensing%2C%20ECG%2C%20blood%20oxygen%2C%20workouts%2C%20fall%2Fcrash%20detection%3B%20emergency%20SOS%2C%20international%20emergency%20calling%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20GPS%2FGPS%20%2B%20cellular%3B%20Wi-Fi%2C%20LTE%2C%20Bluetooth%205.3%2C%20NFC%20(Apple%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP6X%2C%20water%20resistant%20up%20to%2050m%2C%20dust%20resistant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20308mAh%20Li-ion%2C%20up%20to%2018h%2C%20wireless%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20eSIM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFinishes%3A%3C%2Fstrong%3E%20Aluminium%20%E2%80%93%20midnight%2C%20Product%20Red%2C%20silver%2C%20starlight%3B%20stainless%20steel%20%E2%80%93%20gold%2C%20graphite%2C%20silver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Watch%20Series%208%2C%20magnetic-to-USB-C%20charging%20cable%2C%20band%2Floop%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Starts%20at%20Dh1%2C599%20(41mm)%20%2F%20Dh1%2C999%20(45mm)%3C%2Fp%3E%0A
MWTC info

Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.

Updated: June 21, 2023, 7:56 AM