If the unnamed Algerian officials quoted in recent press reports are to be believed, the future of Orascom Telecom in Algeria is in serious trouble. The Egyptian mobile company and its way of doing business is no longer welcome there, the officials told Reuters. The remarks seemed particularly pointed: just days earlier, the Orascom chairman, Naguib Sawiris, said he would stop doing business in Algeria if told he was not welcome.
Diplomatic relations between Algeria and Egypt are at a low after a bitter and sometimes violent series of confrontations over football matches between the two North African powerhouses. Those confrontations were the last thing that Orascom, which was already locked in a US$600 million tax disagreement with the Algerian government, needed. It is important not to underestimate the fighting spirit of Mr Sawiris, or his willingness to leave a difficult market for the right price. Under his leadership the company has entered and left - and sometimes re-entered - some of the world's trickiest countries.
Mr Sawiris is unlikely to be spooked by the political uncertainty in Algeria. Alongside fighting intense regulatory battles in Italy and Canada, his companies happily do business in North Korea and Zimbabwe. Between the four countries, it is unlikely that there is anything original that the Algerian government could throw at him. But a pragmatist knows when it is time to seek greener pastures, and if told to leave Algeria, Mr Sawiris will likely comply. That will mean Orascom loses its most profitable operation, which generates 41 per cent of revenues and 50 per cent of total earnings for the company.
With its Egyptian network, Mobinil, also locked in a tricky ownership dispute with its joint-venture partner, France Telecom, Orascom now seems to be standing on extremely shaky ground. Mr Sawiris has seen the company through many tough times, but the coming months will be decisive. @Email:tgara@thenational.ae
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
FROM THE ASHES
Director: Khalid Fahad
Starring: Shaima Al Tayeb, Wafa Muhamad, Hamss Bandar
Rating: 3/5
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
Kamindu Mendis bio
Full name: Pasqual Handi Kamindu Dilanka Mendis
Born: September 30, 1998
Age: 20 years and 26 days
Nationality: Sri Lankan
Major teams Sri Lanka's Under 19 team
Batting style: Left-hander
Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)
THE DETAILS
Deadpool 2
Dir: David Leitch
Starring: Ryan Reynolds, Josh Brolin, Justin Dennison, Zazie Beetz
Four stars
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
England v South Africa schedule:
- First Test: At Lord's, England won by 219 runs
- Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
- Third Test: The Oval, London, July 27-31, 2pm
- Fourth Test: Old Trafford, Manchester, August 4-8
Top 10 most competitive economies
1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
More from Neighbourhood Watch:
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
Ukraine
Capital: Kiev
Population: 44.13 million
Armed conflict in Donbass
Russia-backed fighters control territory
Indika
Developer: 11 Bit Studios
Publisher: Odd Meter
Console: PlayStation 5, PC and Xbox series X/S
Rating: 4/5
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
LOVE AGAIN
Director: Jim Strouse
Stars: Priyanka Chopra Jonas, Sam Heughan, Celine Dion
Rating: 2/5
Afghanistan fixtures
- v Australia, today
- v Sri Lanka, Tuesday
- v New Zealand, Saturday,
- v South Africa, June 15
- v England, June 18
- v India, June 22
- v Bangladesh, June 24
- v Pakistan, June 29
- v West Indies, July 4
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
The specs
Engine: Dual permanently excited synchronous motors
Power: 516hp or 400Kw
Torque: 858Nm
Transmission: Single speed auto
Range: 485km
Price: From Dh699,000
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
Naga
Director: Meshal Al Jaser
Starring: Adwa Bader, Yazeed Almajyul, Khalid Bin Shaddad
Rating: 4/5