Egypt votes, so the real work can begin



For all the talk of a boycott, the passing of the latest version of Egypt's constitution with an even greater turnout by voters than the previous, Islamist-leaning version, unerringly confers legitimacy on the direction the country is taking. The most telling statistic is that 38.6 per cent of eligible voters took part, compared to 33 per cent in the previous constitutional referendum in December 2012.

Given the vow by groups aligned to deposed president Mohammed Morsi not to take part, the approval of the constitution was never in doubt, although few would have predicted the vote would be as emphatic as 98.1 per cent. International observers who monitored the voting declared it to be mostly free and fair, with the irregularities restricted to campaigning outside the voting stations but not fraud or vote rigging.

It would, however, be oversimplifying matters to see this poll as a direct endorsement of the military's decision to depose Mr Morsi a quarter of the way through his four-year term. This is as much a vote in favour of stability and certainty after three difficult and tempestuous years since the 17-day uprising that led to the overthrow of Hosni Mubarak.

In this process, Egypt’s voters have learnt a lesson that their counterparts in more mature democracies already know: voting is just the first step on the path towards making their situations better and is not a panacea. Voting in a new constitution or even electing a government will not suddenly turn the creaking economy of Egypt into a new Dubai.

This dramatic lowering of expectations is no bad thing, even if it is a painful realignment compared to the heady and optimistic days immediately after people power led to the departure of Mr Mubarak. Egypt faces significant economic problems to do with productivity, corruption and inefficiency that are not magically solved by overturning a dictator, even if it does end the particular cycle of patronage that surrounded Mr Mubarak, his wider family and their cronies.

The work to deal with those problems will begin in earnest when a new president and a new parliament are elected. As Egyptians have already learnt over the past three years, the process will often be slow, messy and frustrating – but this is the only way in which a new Egypt can emerge and the sacrifices of all those who fought against dictatorship will be repaid by creating a land of genuine opportunity.

The Sky Is Pink

Director: Shonali Bose

Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 3/5

ARGYLLE

Director: Matthew Vaughn

Starring: Bryce Dallas Howard, Sam Rockwell, John Cena

Rating: 3/5

Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.

Wayne Rooney's career

Everton (2002-2004)

  • Appearances: 48
  • Goals: 17

Manchester United (2004-2017)

  • Appearances: 496
  • Goals: 253

England (2003-)

  • Appearances: 119
  • Goals: 53
TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

The Continental: From the World of John Wick

Created by: Greg Coolidge, Shawn Simmons, Kirk Ward
Stars: Mel Gibson, Colin Woodell, Mishel Prada
Rating: 3/5

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

RESULT

RS Leipzig 3 

Marcel Sabitzer 10', 21'

Emil Forsberg 87'

Tottenham 0

 

The specs

Engine: 4-cylinder 2-litre
Transmission: 9-speed automatic
Power: 252 brake horsepower
Torque: 352Nm
Price: from Dh146,700
On sale: now

Who is Allegra Stratton?

 

  • Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
  • Took up a public relations role for Chancellor Rishi Sunak in April 2020
  • In October 2020 she was hired to lead No 10’s planned daily televised press briefings
  • The idea was later scrapped and she was appointed spokeswoman for Cop26
  • Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
  • She has strong connections to the Conservative establishment
  • Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
COMPANY PROFILE

Founder: Hani Abu Ghazaleh
Based: Abu Dhabi, with an office in Montreal
Founded: 2018
Sector: Virtual Reality
Investment raised: $1.2 million, and nearing close of $5 million new funding round
Number of employees: 12

Profile

Company name: Jaib

Started: January 2018

Co-founders: Fouad Jeryes and Sinan Taifour

Based: Jordan

Sector: FinTech

Total transactions: over $800,000 since January, 2018

Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups

List of UAE medal winners

Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)

Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)

Bronze
Yahia Mansour Al Hammadi (Open and +94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

MEDIEVIL (1998)

Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5

Sly Cooper and the Thievius Raccoonus

Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5

Brief scores:

Toss: Northern Warriors, elected to field first

Bengal Tigers 130-1 (10 ov)

Roy 60 not out, Rutherford 47 not out

Northern Warriors 94-7 (10 ov)

Simmons 44; Yamin 4-4

Long read
AIR

Director: Ben Affleck

Stars: Matt Damon, Jason Bateman, Ben Affleck, Viola Davis

Rating: 4/5

UAE medallists at Asian Games 2023

Gold
Magomedomar Magomedomarov – Judo – Men’s +100kg
Khaled Al Shehi – Jiu-jitsu – Men’s -62kg
Faisal Al Ketbi – Jiu-jitsu – Men’s -85kg
Asma Al Hosani – Jiu-jitsu – Women’s -52kg
Shamma Al Kalbani – Jiu-jitsu – Women’s -63kg
Silver
Omar Al Marzooqi – Equestrian – Individual showjumping
Bishrelt Khorloodoi – Judo – Women’s -52kg
Khalid Al Blooshi – Jiu-jitsu – Men’s -62kg
Mohamed Al Suwaidi – Jiu-jitsu – Men’s -69kg
Balqees Abdulla – Jiu-jitsu – Women’s -48kg
Bronze
Hawraa Alajmi – Karate – Women’s kumite -50kg
Ahmed Al Mansoori – Cycling – Men’s omnium
Abdullah Al Marri – Equestrian – Individual showjumping
Team UAE – Equestrian – Team showjumping
Dzhafar Kostoev – Judo – Men’s -100kg
Narmandakh Bayanmunkh – Judo – Men’s -66kg
Grigorian Aram – Judo – Men’s -90kg
Mahdi Al Awlaqi – Jiu-jitsu – Men’s -77kg
Saeed Al Kubaisi – Jiu-jitsu – Men’s -85kg
Shamsa Al Ameri – Jiu-jitsu – Women’s -57kg