WASHINGTON // A little more than a week after David Souter announced his retirement from the US Supreme Court, politicians in Washington are gearing up for what is sure to be a partisan political fight to confirm his successor.
Mr Souter's retirement could create the first of three vacancies on Barack Obama's watch - several of the nine justices are more than 70 - and is the first chance in 15 years for a Democrat to make a Supreme Court appointment, a task Mr Obama has described as among his "most serious responsibilities as president".
The country's highest court has handed down some of the country's most celebrated - and reviled - decisions, including one in 1954 that said racial segregation in schools was unconstitutional and one in 1973 that gave women the legal right to an abortion. In 2000, the justices resolved the disputed presidential election, effectively installing George W Bush in the White House by a vote of 5-4.
The selection of a nominee to the court can result in one of the more contentious confirmation processes in Washington. Nominees face tough questions on such polarising issues as abortion rights, immigration and same-sex marriage, often triggering responses from activist groups across the political spectrum. Justices are appointed for life, and although that makes their selection a way for an administration to put a lasting philosophical stamp on the court, it also raises the stakes for the opposition.
The 1991 confirmation hearing for Clarence Thomas, who was appointed by George H W Bush, was marred by scandal after a former government employee, Anita Hill, testified that he had sexually harassed her when he was chairman of the US Equal Employment Opportunity Commission, a charge he vigorously denied. One of George W Bush's nominees, Harriet Miers, his White House counsel, withdrew her name amid questions about her experience. Some Democrats - including Mr Obama - threatened to filibuster another of the younger Bush's picks, Samuel Alito, because they believed he was too far to the right. Mr Alito was eventually confirmed in a close vote.
Because Mr Obama enjoys a strong majority in the Senate, he may have an easier time with his selection. Even if Mr Obama picks a decidedly liberal candidate, his nominee is unlikely to change the basic makeup of the court. Mr Souter was already among a bloc of four liberal-leaning justices.
Still, Republicans are preparing for a battle. Last week, Republicans named Jeff Sessions, a conservative senator from Alabama, as their ranking member on the judiciary committee. He replaces Arlen Specter of Pennsylvania, who recently crossed over to the Democratic Party.
Mr Sessions, who is vehemently opposed to abortion and granting citizenship to illegal immigrants, will take centre stage as the lead Republican questioner of Mr Obama's nominee.
Many believe Mr Obama will select a woman or a minority - only two women and two black men have served on the high court. Two of the potential candidates are openly gay.
In brief remarks after Mr Souter's announcement, Mr Obama said he is seeking someone who has a "quality of empathy, of understanding and identifying with people's hopes and struggles".
"It is also about how our laws affect the daily realities of people's lives," Mr Obama said.
Those comments, however, have worried some Republicans who say it sounds as if Mr Obama is looking for an "activist judge", or a justice whose interpretation of the law is influenced by politics.
Orrin Hatch, a Republican senator from Utah on the judiciary committee, took issue with Mr Obama's use of the word "empathy".
"What does that mean? Usually that's a code word for an activist judge," Mr Hatch said.
Among those said to be on Mr Obama's shortlist are Elena Kagan, the current solicitor general; Jennifer Granholm, the governor of Michigan, and two federal appeals court judges, Sonia Sotomayor - who would be the first Hispanic - and Diane Pamela Wood.
But almost as quickly as the names surfaced, so too did the detractors. In Ms Sotomayor's case, critics have already dug up - and posted on YouTube - a controversial on-camera comment she made at Duke University in 2005. "The court of appeals is where policy is made," said Ms Sotomayor, though she quickly tried to downplay the statement. Critics say the comment shows that policy considerations may contaminate her interpretation of the law.
Gary Marx, the executive director of the Judicial Confirmation Network, a conservative group, is among several activists ready to oppose Mr Obama's nominee. The JCN and other groups have already issued talking points to senators and plan to apply pressure to those involved in the selection process once the nominee is known.
"This nomination will clearly put to rest that myth that Obama is a transpartisan leader," Mr Marx said. "That's what Supreme Court nomination fights tend to show clearly: you are either for judicial restraint or for judicial activism."
sstanek@thenational.ae
How to avoid crypto fraud
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THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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.”
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
MATCH INFO
Wales 1 (Bale 45 3')
Croatia 1 (Vlasic 09')
COMPANY%20PROFILE
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IF YOU GO
The flights
FlyDubai flies direct from Dubai to Skopje in five hours from Dh1,314 return including taxes. Hourly buses from Skopje to Ohrid take three hours.
The tours
English-speaking guided tours of Ohrid town and the surrounding area are organised by Cultura 365; these cost €90 (Dh386) for a one-day trip including driver and guide and €100 a day (Dh429) for two people.
The hotels
Villa St Sofija in the old town of Ohrid, twin room from $54 (Dh198) a night.
St Naum Monastery, on the lake 30km south of Ohrid town, has updated its pilgrims' quarters into a modern 3-star hotel, with rooms overlooking the monastery courtyard and lake. Double room from $60 (Dh 220) a night.
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Poacher
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COMPANY%20PROFILE
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THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
Du Plessis plans his retirement
South Africa captain Faf du Plessis said on Friday the Twenty20 World Cup in Australia in two years' time will be his last.
Du Plessis, 34, who has led his country in two World T20 campaigns, in 2014 and 2016, is keen to play a third but will then step aside.
"The T20 World Cup in 2020 is something I'm really looking forward to. I think right now that will probably be the last tournament for me," he said in Brisbane ahead of a one-off T20 against Australia on Saturday.
Scores in brief:
Day 1
New Zealand (1st innings) 153 all out (66.3 overs) - Williamson 63, Nicholls 28, Yasir 3-54, Haris 2-11, Abbas 2-13, Hasan 2-38
Pakistan (1st innings) 59-2 (23 overs)
UAE squad v Australia
Rohan Mustafa (C), Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Fahad Nawaz, Amjed Gul, Shaiman Anwar, Ahmed Raza, Imran Haider, Muhammad Naveed, Amir Hayat, Ghulam Shabir (WK), Qadeer Ahmed, Tahir Latif, Zahoor Khan
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Sheikh Zayed's poem
When it is unveiled at Abu Dhabi Art, the Standing Tall exhibition will appear as an interplay of poetry and art. The 100 scarves are 100 fragments surrounding five, figurative, female sculptures, and both sculptures and scarves are hand-embroidered by a group of refugee women artisans, who used the Palestinian cross-stitch embroidery art of tatreez. Fragments of Sheikh Zayed’s poem Your Love is Ruling My Heart, written in Arabic as a love poem to his nation, are embroidered onto both the sculptures and the scarves. Here is the English translation.
Your love is ruling over my heart
Your love is ruling over my heart, even a mountain can’t bear all of it
Woe for my heart of such a love, if it befell it and made it its home
You came on me like a gleaming sun, you are the cure for my soul of its sickness
Be lenient on me, oh tender one, and have mercy on who because of you is in ruins
You are like the Ajeed Al-reem [leader of the gazelle herd] for my country, the source of all of its knowledge
You waddle even when you stand still, with feet white like the blooming of the dates of the palm
Oh, who wishes to deprive me of sleep, the night has ended and I still have not seen you
You are the cure for my sickness and my support, you dried my throat up let me go and damp it
Help me, oh children of mine, for in his love my life will pass me by.
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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