The coming year, 2025, will almost certainly be a pivotal one in US politics, determining the trajectory of the country for years or even decades. Donald Trump has been re-elected in a clear victory, this time with a popular vote majority. The election was much closer than originally thought, but he is, predictably, proclaiming a landslide and claiming a popular mandate for his election platform.
He appears intent on an immediate charge to implement his promises "from day one”. He and his inner circles have evidently learnt a great deal from the highly inexperienced and unfocused beginnings of his first term and seem determined not to repeat that unimpressive performance.
While it is unclear what his precise policy focus will be, Mr Trump has said he intends to operate as a "dictator" just for the first day to push his agenda through. But he won't be able to transform the US into a dictatorship, or anything close to one, in the four years remaining to him (according to the US Constitution, presidents may serve a maximum of two terms). But if his administration is focused, ruthless and disciplined, he can do tremendous damage to the system of checks and balances, legal limits, independent institutions and rule of law that has come to characterise the US constitutional order.
Mr Trump faces many challenges and obstacles. The most significant – apart from opposition from courts, independent agencies, the media, the administrative structure and the Democrats – is that he will rapidly turn into a "lame duck" president. The last two years of a presidency are generally weak, with most opportunities centred on foreign policy where the White House can act with relatively independent authority.
But, after the 2028 midterms, at least two developments are likely to restrict his freedom of action and authority. First, the incumbent party usually suffers significant congressional setbacks, and the Republicans have a tiny majority in both the House and Senate. There is a high probability Mr Trump won't be able to do much legislatively after that.
Second, among Republicans, focus will shift to an intense battle for succession, with existing factions, already at loggerheads, likely to start coalescing around champions for the 2028 election, potentially leading to infighting, rivalry and possible paralysis.
Third, Mr Trump is elderly, and there is the possibility of a significant health event for him in the coming years. Even if not, everyone is going to have to proceed based on the assumption that it could happen any time. This creates an additional disadvantage.
Mr Trump will probably have to choose between a limited set of policy priorities, most of which will prove controversial, even within his party and inner circle
Divisions among Republicans and within his coalition are already obvious. Thirty-eight Republican legislators defied him on the recent budget resolution, insisting spending cuts weren't deep enough. But Mr Trump intends to spend a great deal on tax cuts and mass deportations, among other things. That's why he sought to eliminate the debt ceiling. He's clearly out of step with Republican "budget hawks" who won't care for his apparent carefree spending plans.
Moreover, a bitter ideological split recently ensued over immigration. The "tech bros” from Silicon Valley, led by Elon Musk, have been aggressively defending the H1B visa programme for highly educated immigrant workers. This elicited howls of outrage from immigration hardliners, especially since the visa programme champions appeared to critique US culture as mediocre and American workers as under-educated underperformers.
Mr Trump eventually sided with the H1B programme – which he has angrily denounced in the past. But there is now a clear internal war between the Maga nativist anti-immigration hardliners versus the Silicon Valley and venture-capital business interests, with both factions having been central to his re-election.
This is a massive fault line in his coalition that is going to be tested early on. Immigration hardliners hope for a "reconciliation" bill soon after his inauguration to begin an effort to deport millions of migrants, while these oligarchs will demand, at the very least, an exception for their indispensable H1B employees and prospective hires.
Among Republicans, focus will shift to an intense battle for succession, with existing factions, already at loggerheads, likely to start coalescing around champions for the 2028 election
Moreover, if the deportation scheme cuts deeply into the migrant worker pool, other industries, including agriculture, meatpacking, construction, food preparation, building maintenance, waste disposal and many other interests are likely to push back. A surge in inflation may give them additional leverage, even as xenophobic fanatics like White House Deputy Chief of Staff Stephen Miller – who is likely to be authoring new legislation and executive orders – try to charge forward at full speed.
Mr Trump's autocratic instincts may be tested early on as he tries to impose his will on an unco-operative Congress or administrative agencies and Democratic-run states. He will also probably face crucial standoffs with courts and other independent sources of authority in the US system. That may be especially true if he tries to quickly reshape the administrative structure with mass sackings of apolitical experts and their replacement with handpicked ideologues.
He may face an even bigger test if he seeks to use the Justice Department and FBI for the "retribution" he promised against his political opponents. Professional employees at both agencies may refuse such unethical assignments or delay them into oblivion. And courts may, and certainly should, dismiss all such efforts as unlawful and disgraceful.
Mr Trump will certainly have to choose between a limited set of policy priorities, most of which will prove controversial, even within his party and inner circle. Despite his obvious efforts at a running start, he appears considerably weaker than he did immediately after the election, in part because of a series of implausible nominations of unqualified candidates, and the emergence of these new internal divisions.
His appointments also reflect ideological incoherence, despite uniform fealty to the incoming president. But personal loyalty does not translate into policy coherence. Even on an issue as basic as military aid to Ukraine, one can sense a fight brewing.
Mr Trump appears to want to transform the US into a kind of "illiberal democracy". But he doesn't have four years to do that. It's more like two years. And between the internal fighting and opposition from external forces, it is going to be extremely difficult.
In all likelihood, the most he can do is set the stage for a like-minded successor. And if that's going to happen at all, the key groundwork will have to be established in 2025.
The lowdown
Badla
Rating: 2.5/5
Produced by: Red Chillies, Azure Entertainment
Director: Sujoy Ghosh
Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
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.”
ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023's%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
Price: Dh7,500,00
On sale: Now
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Clinicy%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Prince%20Mohammed%20Bin%20Abdulrahman%2C%20Abdullah%20bin%20Sulaiman%20Alobaid%20and%20Saud%20bin%20Sulaiman%20Alobaid%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Riyadh%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2025%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ETotal%20funding%20raised%3A%3C%2Fstrong%3E%20More%20than%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Middle%20East%20Venture%20Partners%2C%20Gate%20Capital%2C%20Kafou%20Group%20and%20Fadeed%20Investment%3C%2Fp%3E%0A
Bio
Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro