Minnesota Senator Amy Klobuchar has put herself out of contention as the Democratic party's vice presidential candidate in the November 2020 election. AFP
Minnesota Senator Amy Klobuchar has put herself out of contention as the Democratic party's vice presidential candidate in the November 2020 election. AFP
Minnesota Senator Amy Klobuchar has put herself out of contention as the Democratic party's vice presidential candidate in the November 2020 election. AFP
Minnesota Senator Amy Klobuchar has put herself out of contention as the Democratic party's vice presidential candidate in the November 2020 election. AFP

US election: Amy Klobuchar urges Joe Biden to pick non-white woman as running mate


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Amy Klobuchar says she is dropping out of the running to be US vice president and urging presumptive Democratic presidential candidate Joe Biden to select a woman of colour instead.

The white Minnesota senator, who had seen her prospects fall as racial tensions swept the nation, said that she called Mr Biden on Wednesday night and made the suggestion. Mr Biden has committed to choosing a woman as his running mate.

“I think this is a moment to put a woman of colour on that ticket," Ms Klobuchar told the MSNBC channel on Thursday. “If you want to heal this nation right now – my party, yes, but our nation – this is sure a hell of a way to do it.”

Mr Biden praised Klobuchar in a tweet Thursday, citing her “grit and determination” and saying, "With your help, we’re going to beat Donald Trump.”

Ms Klobuchar's chances of getting as Mr Biden's running mate diminished after the killing of George Floyd by a white police officer in Minneapolis. She was a prosecutor years ago in the county that includes Minneapolis, and during that period, more than two dozen people — mostly minorities — died during encounters with police.

Floyd’s death last month set off protests across the country and criticism that as the county’s top prosecutor, Ms Klobuchar did not charge any of the officers involved in citizen deaths. Officer Derek Chauvin, who was charged with Floyd’s murder, had been involved in one of those cases, the fatal 2006 shooting of a man accused of stabbing people and aiming a shotgun at police.

Ms Klobuchar, 60, was among a large field of Democrats who had sought the 2020 presidential nomination, running as a pragmatic Midwesterner who has passed more than 100 bills. She dropped out and threw her support behind Mr Biden before the crucial March 3 “Super Tuesday” contests after struggling to win support from black voters, who are crucial to Democratic victories. Her best finish of the primary was in overwhelmingly white New Hampshire, where she came in third.

The third-term senator had to cancel one of the final rallies of her campaign after Black Lives Matter and other activists took the stage in Minnesota to protest against her handling of a murder case when she was prosecutor that sent a black teenager to prison for life.

James Clyburn of South Carolina, a close Biden ally and highest-ranking black member of the US Congress, said in the days after Floyd’s death that he believed it made Ms Klobuchar a less likely pick for vice president, even though she was “absolutely” qualified for the job.

“This is very tough timing for her,” Mr Clyburn said.

Even before Floyd’s death, activists were pushing Mr Biden to consider a woman of colour, saying it would help build a multiracial coalition behind the Democratic ticket and motivate people — particularly younger voters — who might be underwhelmed by the 77-year-old former vice president’s bid. The founder of She the People, a network of women of colour, called news that Mr Biden had asked Ms Klobuchar to undergo formal vetting “a dangerous and reckless choice”.

“To choose Klobuchar as vice president risks losing the very base the Democrats need to win, most centrally women of colour, and could be a fatal blow to the Democrats’ chance to win the White House,” Aimee Allison said in May.

Others wanted Mr Biden to choose a more progressive candidate, who could bring in support from voters who backed Bernie Sanders and Elizabeth Warren in the primary. Like Mr Biden, Ms Klobuchar disagreed with Mr Sanders and Ms Warren on major issues such as health care, calling “Medicare for All” unachievable and pushing instead for changes to the Affordable Care Act.

Democrats with knowledge of the process told The Associated Press last week that Mr Biden’s search committee had narrowed the choices to as few as six serious contenders after initial interviews. Among the group still in contention are Ms Warren, California Senator Kamala Harris and Susan Rice, who served as President Barack Obama’s national security adviser. Ms Warren is white; both Ms Harris and Ms Rice are black.

Mr Biden has said he will announce his choice of vice presidential candidate by August 1.

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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.”

Manchester United v Club America

When: Thursday, 9pm Arizona time (Friday UAE, 8am)

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
The five pillars of Islam
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The biog

Name: Abeer Al Bah

Born: 1972

Husband: Emirati lawyer Salem Bin Sahoo, since 1992

Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old

Education: BA in Elementary Education, worked for five years in a Dubai school

 

Dubai Rugby Sevens, December 5 -7

World Sevens Series Pools

A – Fiji, France, Argentina, Japan

B – United States, Australia, Scotland, Ireland

C – New Zealand, Samoa, Canada, Wales

D – South Africa, England, Spain, Kenya

Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications

Cricket World Cup League 2

UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs

UAE fixtures
Free admission. All fixtures broadcast live on icc.tv

Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Wenger's Arsenal reign in numbers

1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.

MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Specs
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