The whole fuss about what criteria were applied in choosing the 50-member panel tasked with revisiting the Egyptian constitution is misguided, wrote Mohammed Idris, a contributor to the Cairo-based newspaper Al Ahram, in a column yesterday.

Equally misleading are questions about what system of government Egypt needs: parliamentary, presidential or semi-presidential. Or those about the limits of the legislative, executive and judicial powers.

“These questions would have had priority in nations that enjoy a level of stability and are only after constitutional reform,” the writer said. In the case of Egypt, however, a country that is living through the convulsions of two revolutions – one that toppled “a corrupt, despotic regime” and another that removed “a fascist regime dressed up in religious clothing” – the priorities will naturally differ.

“The conflict – or, shall we say, the struggle – that is gripping Egypt in the aftermath of these two revolutions is not between the three powers of government,” the author argued. “Remember that the June 25, 2011 revolution had sought to bring down a police-military state that has spawned a corrupt, despotic regime, while the June 30, 2013 revolution wanted to unseat a Muslim Brotherhood-style theocracy – meaning that the goal of both revolutions was to instate a civil, democratic state. Therefore, the real struggle that must be addressed now is between the civil, democratic state in the face of the military or theocratic state.

“In other words, this struggle should be, at the very least, for the establishment of a political system that tips the balance in favour of the civil, democratic state in its confrontation with the ideologies of the military state and the religious state.”

Under the regime of ousted president Hosni Mubarak and, later, under the regime that was effectively led by the Supreme Guide of the Muslim Brotherhood, Egypt has been a “flabby”, “despotic”, “repressive” and “failed” state, the author said. To redress this trajectory, which the country has taken for the past four decades, a whole new constitution must be written, that literally and figuratively turns the page on those years.

“This is where the philosophy of the new constitution must start, and this is where the constitutional declaration that provided for merely ‘amending’ the 2012 constitution reveals itself as a fundamental mistake,” he noted.

“A revolution tears down a system to build a new one, and the constitution is the mirror that must embody the spirit of the revolution as it reaches the stage of institutional rebuilding, whereas the constitution of 2012 was based on a clear philosophy: the state of Sharia.”

The 50-member panel will be well advised to start from here, and then build on the ideals of the revolution, he said.

The Brotherhood was banned by the people

An Egyptian court banned on Monday all activities by the Muslim Brotherhood, its non-government organisation and any affiliated institutions, including its political arm, the Freedom and Justice Party.

In a comment, the Saudi Al Watan Online said: “Brotherhood supporters may see this as political liquidation scheme, but the Egyptian judiciary isn’t biased. It has always enjoyed the highest degrees of independence, before and after the revolution.”

“What matters in this case is that the presence of the Muslim Brotherhood as a group, a popular movement or even as a political party has visibly diminished in Egypt.

“It is important to review the causes and the factors that led to the group’s defeat and loss of popularity in Egypt and elsewhere.

“The Muslim Brotherhood didn’t come up with a project to revive Egypt’s economy. They failed to contain internal financial crises, they monopolised authority and ostracised all other political partners.

“The Brotherhood were ousted by popular demand. Upon realising this fact, a number of the group’s members offered public apologies for internal crises they caused in Egypt. This is a positive step that signals that Brotherhood leaderships may be reviewing their past policies and starting a new phase of self-criticism,” the paper noted.

Saudi’s journey to modernity will be long

On Monday the kingdom of Saudi Arabia celebrated on Monday the 81st anniversary of its modern foundation said the Saudi columnist Abdel Rahman Al Rashed in the London-based daily Asharq Al Awsat.

But statehood first appeared in Saudi in 1744, which raises the obvious question: how is it possible, that after almost three centuries of existence, the country is still struggling for a transition to a civic state?

In this day and age, in Saudi there are those who object to celebrating National Day. There are those who object to women having identity cards with their photographs on them while others oppose scholarships for Saudi students to some of the world’s biggest universities. They succeeded in banning movie theatres and women from driving!

It gets even more confusing when one realises that the kingdom isn’t a closed fort. In fact, it is the biggest user of Internet, social media and mobile phones in the region. It people are well travelled and it is host to over 10 million expatriates from various backgrounds and cultures.

“How can it be so well equipped for openness, yet so closed?” the writer asked.

The state’s strive for social openness is a slowly journey fraught with many conflicts.

* Digest compiled by The Translation Desk

translation@thenational.ae

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Scorecard

Scotland 220

K Coetzer 95, J Siddique 3-49, R Mustafa 3-35

UAE 224-3 in 43,5 overs

C Suri 67, B Hameed 63 not out

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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. 

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

How much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg

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.”

Avatar%3A%20The%20Way%20of%20Water
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COMPANY%20PROFILE
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Book%20Details
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Abu Dhabi race card

5pm: Maiden (PA) | Dh80,000 | 1,600m
5.30pm: Maiden (PA) | ​​​​​​​Dh80,000 | 1,400m
6pm: Liwa Oasis (PA) Group 2 |​​​​​​​ Dh300,000 | 1,400m
6.30pm: Arabian Triple Crown Round-2 (PA) Group 3 | Dh300,000 | 2,200m
7pm: Wathba Stallions Cup (PA) Handicap | Dh70,000 | 1,600m
7.30pm: Maiden (TB) |​​​​​​​ Dh80,000 | 2,200m

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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
The specs: 2018 Jeep Compass

Price, base: Dh100,000 (estimate)

Engine: 2.4L four-cylinder

Transmission: Nine-speed automatic

Power: 184bhp at 6,400rpm

Torque: 237Nm at 3,900rpm

Fuel economy, combined: 9.4L / 100km

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

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.

SHALASH%20THE%20IRAQI
%3Cp%3EAuthor%3A%20Shalash%3Cbr%3ETranslator%3A%20Luke%20Leafgren%3Cbr%3EPages%3A%20352%3Cbr%3EPublisher%3A%20And%20Other%20Stories%3C%2Fp%3E%0A
While you're here
The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now