New York police were on high alert on Tuesday after former US president Donald Trump claimed he would be arrested in connection to an ongoing investigation into hush money that was paid to an adult film star before the 2016 election.
At the weekend, Mr Trump called on supporters to protest in the Big Apple as a grand jury wraps up hearing evidence into whether he improperly used campaign funds to silence Stormy Daniels, who claimed to have had an affair with him in 2006.
Mr Trump has denied the affair and any wrongdoing.
He claimed without evidence that he would be arrested on Tuesday, but there was no indication that prediction would come true and Mr Trump remained at his home in Florida during the day.
Still, authorities erected barricades outside the entrance to Trump Tower in Manhattan and the courthouse where the grand jury is working.
Memories are still fresh of the deadly January 6, 2021, attack on the US Capitol in Washington, where a mob of Trump supporters tried to overthrow the results of the 2020 election.
As of Tuesday afternoon, only a small scattering of Trump supporters were on the streets.
While Mr Trump is from New York, many residents in the liberal city feel little love for their Republican former neighbour.
“I hope he gets arrested,” local student Remy Grimm told The National outside Trump Tower.
“I think that the Stormy Daniels case is the least pressing of anything that he could be charged for. But that's the first step and just the symbolism of him getting arrested — it's going to completely change the landscape of the [2024 presidential] election.”
The former president officially launched his bid for the White House in November.
Mr Trump shared a video on his social media platform Truth Social in which he again called investigations into his activities a “witch hunt”.
The decision on whether to indict Mr Trump over payments made on his behalf during his 2016 presidential campaign now lies with the grand jury, which has been hearing evidence in secret for weeks.
Daniels received $130,000 from Mr Trump’s former lawyer, Michael Cohen, in exchange for staying quiet before the 2016 election about an affair she says she had with Mr Trump, then a celebrity property tycoon.
An indictment of Mr Trump would be the first criminal case brought against a former president.
“I think it's great for the country that everyone is held to the same legal standard, and that nobody is above the law, even a former president,” New York businessman Christopher Treller said outside Trump Tower.
The Manhattan grand jury appeared to take an important step on Monday by hearing from a witness regarded as favourable to the former US president.
Evidence given by Robert Costello, a lawyer with ties to Trump aides, appeared to be a final opportunity for allies of the former president to steer the grand jury away from an indictment.
Mr Costello was invited by prosecutors to appear after saying that he had information to challenge the credibility of Mr Cohen, Mr Trump's former fixer who turned against him and became a leading witness in the Manhattan prosecutor's investigation.
He said he had come forward because he did not believe that Mr Cohen, who pleaded guilty to federal crimes and served time in prison, could be trusted.
“If they want to go after Donald Trump and they have solid evidence, then so be it,” Mr Costello said.
“But Michael Cohen is far from solid evidence.”
An indictment could test a Republican Party divided over whether to support Mr Trump next year.
Mr Trump denies any wrongdoing and has called the Manhattan prosecutor's investigation politically motivated.
It was unclear if additional witnesses might be summoned.
Separately, Bloomberg reported on Tuesday that a bomb threat was called into a Lower Manhattan courthouse holding a hearing on a $250 million lawsuit against Mr Trump by New York state's attorney general.
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Pakistan T20 series squad
Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
Kandahar%20
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UAE currency: the story behind the money in your pockets
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.”
FIGHT CARD
1. Featherweight 66kg
Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg
Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg
Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg
Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg
Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg
Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg
Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg
Mostafa Radi (PAL) v Abdipatta Abdizhali (KGZ)
9. Featherweight 66kg
Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg
Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
