A recent quarterly earnings filing, made by Damac holding company, listed newly- created subsidiaries under Trump International Golf Club LLC, which it described as holding 100-percent legal and economic interests. This UAE-based entity lists all principal activities as being the “golf club,” and does not elaborate. The Trump Organization doesn’t have any upcoming deals within Dubai, according to company spokeswoman Amanda Miller. The company thus declined to answer further questions.
Damac’s first-quarter net profits exceeded $240 million but were down by 16 percent when compared to last year’s amounts. These lower profits came as weak global oil prices squeezed Mideast countries, of whose citizens formed about half of Damac’s clientele altogether. Damac’s managing director also resigned as the company claimed in a regulatory filing, offering no stated reason for his departure.
Experts raised concerns that existing Trump businesses abroad could run afoul of so-called “emoluments clauses” within the U.S. Constitution. These clauses bar public officials from receiving gifts or payments from foreign entities and companies controlling them without consent of Congress. Already, liberal-funded watchdog groups have filed lawsuits citing the clause.
Others criticize Trump’s family members for traveling on behalf of Secret Service details while engaging in private business trips, something afforded them through direct relatives of President Trump. While in Dubai, Trump gave a commencement on Sunday – at Dubai’s American University, a private institution founded in 1995, which now has more than 2,700 students. The school did not announce that Trump would make a commencement speech website ahead of time.
When Trump looks back on what his father did in the past election, and the risk that he took, he was impressed with the very fact that his father tried – even more than the fact that he had actually won. Trump said this in his 14-minute speech. The university had not answered repeated emails and calls asking whether Trump received payments for his commencement speech; additionally, security guards turned away Associated Press journalist questions at the university’s gate on Wednesday.
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