Enterprise Holdings has announced via twitter that the company will be severing all ties with the NRA (National Rifle Association) as of 26 March 2018.
Enterprise Holdings has announced via twitter that the company will be severing all ties with the NRA (National Rifle Association) as of 26 March 2018.

US companies sever ties with NRA as boycott calls rise



A call to boycott the National Rifle Association became the top trend on Twitter as users of the global social media platform demanded that a variety of companies sever ties with the lobbying group. The online furor comes a day after the NRA’s leaders attacked the media and Democrats, claiming the fallout from last week’s Florida high school massacre was being politicized.

One user, with almost a quarter of a million followers, tagged a slew of brands in his post, including NRA partners Hertz Corp. and LifeLock Inc. “There are only 5 million NRA members but over 300 million of us! Businesses have a choice whose business they prefer,” tweeted  another.

On Friday, LifeLock owner Symantec, Hertz, North American and Allied Van Lines, and insurer MetLife announced they would break off from the NRA. “Symantec has stopped its discount program with the National Rifle Association,” a spokesperson said in an emailed statement. A MetLife spokesman said “we value all our customers but have decided to end our discount program with the NRA.” Security systems maker Simplisafe Inc. also dropped the gun group today.

The five million-member NRA has partnerships with dozens of businesses, ranging from car rentals to hotels, and even offers a branded credit card. First National Bank of Omaha, which backs the card, said it would not renew its contract. Enterprise Holdings Inc., which operates Alamo and National car rentals as well, said it had  ended its participation effective March 26. Wyndham Hotel Group LLC  announced it was “no longer affiliated with the NRA.”

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In a statement Friday, insurer Chubb said it told the NRA three months ago that it would “discontinue participation in the NRA Carry Guard insurance program under the terms of our contract.”

Still, many companies continue to have a relationship with the advocacy group, while others associated with it didn’t return requests for comment. HotelPlanner.com, unmoved by the controversy, said it would stick by the NRA.

“Our company provides discounted rooms to several large associations, including the NRA,” said Tim Hentschel, co-founder of Hotel Planner. “These associations greatly benefit our customers by buying discounted rooms from groups that might otherwise be charged a penalty by hotels for not using all of the rooms in their block.”

The NRA didn’t respond to a request for comment.

While this powerful supporter of guns is under attack, the gun industry is facing some blowback of its own. Florida Governor Rick Scott, a Republican, long a staunch opponent of gun regulations, announced his support for them, including allowing courts to prohibit the mentally ill from purchasing firearms, raising the purchasing age to 21, and banning the sale of bump stocks. Fear of gun control coupled with the backlash against the firearms industry has led stock prices to fall. American Outdoor Brands had dropped 8.8 percent this week. Sturm Ruger was down 4.6 percent. Vista Outdoor fell almost 9 percent.

THE BIO

BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

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4.35pm: Tilal Al Khalediah
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6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

THE BIO

Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.

Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.

Personal motto: If something’s meant for you it won’t pass you by.

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

UAE currency: the story behind the money in your pockets