As Egypt's first democratic presidential election begins today, no one really knows who is going to win. Indications hint at Amr Moussa, the former secretary general of the Arab League, because his name recognition is hard to beat, his "vote for the candidate with experience" pitch appears to be working and, most importantly, the army does not seem to object to him.
But we need to take a wider view of what comes next. What are the most important variables in this election and what does it mean for not only the winner but also for the runner up?
The first variable is the army. Egyptian activists are in denial about the military's role, insisting that support for the Supreme Council of the Armed Forces is waning. They assume that ordinary Egyptians support the army but not Scaf.
Data from Gallup polls, gathered since the start of protests last year, indicate quite the contrary: nine out of 10 Egyptians support the army and make no distinction between it and Scaf. Moreover, Scaf as an institution that reaches across the country, and not just the city centres that are the hotbed of political activism, is well aware of the support it enjoys.
The generals still hold a great deal of power in Egypt and it is almost inconceivable that they would allow a candidate to win if he posed a threat to the military.
What does that mean for the presidential candidates? Behind the scenes, Scaf has already intervened to reject "objectionable" candidates. Mr Moussa's campaign has been very careful to avoid making an enemy of the military. The campaign of Abdul Moneim Aboul Fotouh, a former member of the Muslim Brotherhood, has also sent signals that he would not confront the military if elected.
What also seems certain is that Hamdeen Sabahy, a Nasserite candidate who insists that Scaf should be held accountable for its performance during the interim period, does not have a chance of winning because of his confrontational platform.
Another variable in the political equation is the influence of Islamist parties. Political analysts were taken by surprise when the Muslim Brotherhood's political organ, the Freedom and Justice Party, and the Salafi Noor Party won a combined 70 per cent of seats in parliamentary elections. That has raised fears that Islamists were gaining ground, but it was always clear that no presidential candidate could afford to alienate Egyptians by reducing the role of religion in public life - every candidate accepts Article 2 of the constitution, which stipulates that Islam is a source of law.
But fears that Egyptians are overwhelmingly Islamist are unfounded. In July, 17 per cent of Egyptians expressed support for the Muslim Brotherhood; only 5 per cent supported Salafi groups. In February, those numbers had skyrocketed to 63 per cent and 37 per cent respectively, according to Gallup polls. Yet in April, in the first few weeks of the new parliament, support had dropped to 42 per cent and 25 per cent respectively, and is probably still in decline.
Expectations were high for the parliament to actually change the lives of ordinary Egyptians. Instead, the new parliamentarians have been defined by dubious politicking, such as trying to stack the constitutional assembly. While 62 per cent of Egyptians in February believed that the party that won the most seats in parliament - which proved to be the Freedom and Justice Party - should choose the drafters of Egypt's new constitution, that number dropped to 44 per cent in April. It shows that Egyptians do not consider their support to be unconditional.
Voters are not motivated by ideology, but by politics - left with few alternatives, many Egyptians chose to give the Islamists a chance. That goodwill has been squandered. While 62 per cent of Egyptians in February approved of a strong, influential Muslim Brotherhood presence in parliament, only 36 per cent said the same in April, according to the latest figures released by Gallup.
What does this mean for candidates? While religion is important for the overwhelming majority of Egyptians (whether Muslim or Christian), Islamists do not enjoy unconditional support. Egyptians make a distinction between Islam and Islamism, despite the best efforts of the Brotherhood and the Salafi movements.
No one knows who will win, but that's the wrong question. The next president will probably be a failure simply because the expectations of the Egyptian public are too immense for anyone to satisfy.
The past year shows that Egyptian voters are not automatons who will simply vote for a candidate based on empty slogans - candidates have to show that they can deliver on the key challenges facing Egypt. In that regard, no candidate has succeeded, but that also means it's an open field. Voters have given unlikely political forces a chance to prove themselves before, and they may do so again.
Dr HA Hellyer is a Cairo-based commentator formerly at Gallup, Warwick University and the Brookings Institution
On Twitter: @hahellyer
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
WRESTLING HIGHLIGHTS
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg