One of Egypt's most-loved actors and comics, Ibrahim Nasr, died on Tuesday.
The news was reported in the Egyptian newspaper Al-Masry Al-Youm , with the actor said to have succumbed to a long-term illness. He was 70.
The fact that he left us during Ramadan is rather fitting as Nasr was often the star of the holy month. For the past 20 years, he would appear on regional television screens as the host of Al Camera Al Khafiya (a regional twist on the Candid Camera concept), an annual Ramadan staple, which has Nasr walking around busy Cairo streets and bamboozling citizens in his disguise as the neurotic elderly woman, Zakia Zakaria.
Not only was it charming and good-natured (a far cry from some of the mean-spirited nature of today's prank shows) Camera Al Khafiya was a brilliant showcase of his comic talents, ranging from slapstick and zany improvisations to sharp punchlines.
But making us laugh wasn't Nasr's only forte. He put his bulky frame and raspy voice to good use by appearing in a range of dramas, including the second season of the classic spy series Rafat El-Hagan (1990), the Second World War film Shams Alzunatii (1991) and 1993's Mr Karate – a not-so-subtle take on the Hollywood hit Karate Kid, with Nasr playing the stern Hassan, a martial arts instructor in the vein of Mr Miyagi.
Nasr's dramatic range came from honing his craft at an early age. Born in the Shobra neighbourhood of Cairo, he caught the acting bug in university, where he took part in theatre productions.
His knack for impersonations, including that of the late Egyptian star Amin El-Heinedy, was spotted by producers who tapped him to appear in a number of children television shows. Nasr followed it up with his feature film debut in a small role in the 1970 comedy drama Almereaya, alongside future screen titans Nour El Sherif and Adel Imam.
Nasr's enduring appeal resulted in a steady workload throughout his five-decade career, which saw him amass over 100 credits in both film and television.
The last ten years of his career had him appearing in the 2011 comedy X Large and the 2018 Ramadan series Foq El-Sahab.
Despite his acclaim, Nasr always had an ambivalent attitude to his success. In a 2018 interview broadcast on Al Hayat TV, the actor admitted to a personality far removed from the gregarious characters he portrayed on screen.
"I don't know how to be happy like people,” he said. “I can be happy with you because you have a good energy that allows me to be easy. If I am at home alone, it is not the same.”
His funeral was held on Tuesday, May 12, at the St Mark's Coptic Orthodox church in Azbakeya district of Cairo, before he was buried in family plot.
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Users can also invite other contacts to download ToTok to allow them to make contact through the app.
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.”
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1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
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12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
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PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
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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
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8. Pillar 2 implementation
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9. Reduced compliance obligations for imported goods and services
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10. Substance and CbC reporting focus
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Overview
Cricket World Cup League Two: Nepal, Oman, United States tri-series, Tribhuvan University, Kathmandu
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
