• Saad-Eddine El Othmani, Morocco's Prime Minister and president of the Islamist Justice and Development Party (PJD) casts his ballot on September 8. AFP
    Saad-Eddine El Othmani, Morocco's Prime Minister and president of the Islamist Justice and Development Party (PJD) casts his ballot on September 8. AFP
  • A man casts his vote at a polling station in Casablanca, Morocco. Reuters
    A man casts his vote at a polling station in Casablanca, Morocco. Reuters
  • The PJD has dominated Morocco's politics for a decade. Reuters
    The PJD has dominated Morocco's politics for a decade. Reuters
  • A voter casts a ballot in the capital Rabat. AFP
    A voter casts a ballot in the capital Rabat. AFP
  • Polls are banned in Morocco. AFP
    Polls are banned in Morocco. AFP
  • Wednesday's elections came as the country grapples with the economic impact of Covid-19 . AFP
    Wednesday's elections came as the country grapples with the economic impact of Covid-19 . AFP
  • Voter turnout in Moroccan elections is usually below 50 per cent. AFP
    Voter turnout in Moroccan elections is usually below 50 per cent. AFP
  • Official figures show that about three million young people between 18 and 22 registered to vote for the first time this year. Reuters
    Official figures show that about three million young people between 18 and 22 registered to vote for the first time this year. Reuters
  • Morocco adopted a new constitution in 2011 in response to the February 20 Movement, the local version of the Arab uprisings. Reuters
    Morocco adopted a new constitution in 2011 in response to the February 20 Movement, the local version of the Arab uprisings. Reuters
  • The step brought the country closer to a system of constitutional monarchy. EPA
    The step brought the country closer to a system of constitutional monarchy. EPA
  • A woman prepares to cast her ballot during Morocco's parliamentary and local elections in the capital Rabat. AFP
    A woman prepares to cast her ballot during Morocco's parliamentary and local elections in the capital Rabat. AFP

First-time voters view Morocco's election with hope


  • English
  • Arabic

Moroccans are preparing to cast their ballots on Wednesday in legislative, regional and local elections, all taking place on the same day.

The election, which comes as the country grapples with the economic impact of Covid-19 and as it faces down a spike in cases caused by the Delta variant, has been preceded by calls for a boycott from opposition groups under the pretext that their results are a foregone conclusion.

The moderate Islamist Justice and Development Party has been heading the government coalition since 2011 after winning two elections in a row.

Voter turnout in Moroccan elections is usually below 50 per cent. In the 2016 election, it was about 43 per cent - 2 per cent lower than what was seen in 2011.

Official figures show that about three million young people between 18 and 22 registered to vote for the first time this year, making up about 11.9 per cent of the total number of eligible voters in the country.

Supporters of the Party of Istiqlal walk the street of Deb Sultane in El Fida district during a campaign tour in Casablanca, Morocco. AFP
Supporters of the Party of Istiqlal walk the street of Deb Sultane in El Fida district during a campaign tour in Casablanca, Morocco. AFP

Eighteen million eligible voters will elect candidates from 31 political parties and coalitions for 395 seats in Parliament on Wednesday. They will also be selecting representatives for 678 seats on regional councils.

Of those The National spoke to, several first-time voters said they were enthusiastic about playing a role in democracy.

“Boycotting is not effective. It doesn’t allow us to uproot corruption,” said 19-year-old Achraf Amrdo, who works at a bakery and is a member of the Unified Socialist Party.

The first-time voter added he felt happy “because he would be using his vote to stop those who steal public funds”.

Morocco’s 2020 Corruption Perception Index is 40 points, one point less than 2019, reported Transparency International, citing a lack of government accountability and significant risks for mismanaged funds and corruption.

But some see the elections as a healthy test for whether political parties can keep their promises.

Sixty-year-old Fouzia Ait Sghyer said that she would be taking part in the election for the first time on Wednesday.

“For me, it’s a mere experiment. I will see if the party I will vote for will be able to provide education and health care for us or not. Afterwards, I will decide if I will continue to cast my ballot in future elections or not,” she said.

Millions of Moroccans head to the polls on September 8 to cast ballots in pivotal legislative and regional elections amid strict safety guidelines for Covid-19. AFP
Millions of Moroccans head to the polls on September 8 to cast ballots in pivotal legislative and regional elections amid strict safety guidelines for Covid-19. AFP

This year’s election is also an experiment for officials, taking place after sweeping reforms to the process. One such change is the way votes will be calculated: on Wednesday the number of seats in Parliament will be allocated based on the total number of eligible voters, rather than the number of those who actually cast their ballots.

The government has also removed the requirement for parties to reach at least 3 per cent of the national vote to win a seat.

These changes aim to reduce the ability of big parties to control Parliament, especially the ruling Freedom and Justice Party, while giving more opportunities to smaller groups.

The reforms, however, do not seem to have changed the position of those in the boycott camp.

“I boycott elections because the supervisory body is not independent. Moreover, why would I give my vote to a party that is incapable of making decisions, despite heading the government? The elections in Morocco do not lead to institutions that rule,” said 27-year-old Saber Imdanyen, the head of the National Union for Moroccan Students.

“I am politically active but I never take part in elections,” he said.

A total of 395 seats in the upper house of Parliament are up for grabs in this round of elections in Morocco. AP
A total of 395 seats in the upper house of Parliament are up for grabs in this round of elections in Morocco. AP

Morocco adopted a new constitution in 2011 in response to the February 20 Movement, the local version of the Arab uprisings. The step brought the country closer to a system of constitutional monarchy, but, in reality, the king has the final say.

For 21-year-old Nouhaila Hafid, who is taking part in the election for the first time as both a candidate and a voter, voting is her chance “to have a say in my life path and in the big choices my country will make in the coming years".

“I didn’t use to be interested in politics but after a while, I realised that this was wrong … [Voting] is like laying the first stone in a project that you drew up yourself,” said Hafid, who is running for a seat in the Local Council of Marrakech on the ruling Justice and Development Party’s list.

This story was written in collaboration with Egab.

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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20JustClean%3Cbr%3E%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20with%20offices%20in%20other%20GCC%20countries%3Cbr%3E%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202016%3Cbr%3E%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20160%2B%20with%2021%20nationalities%20in%20eight%20cities%3Cbr%3E%3Cstrong%3E%3Cbr%3ESector%3A%3C%2Fstrong%3E%20online%20laundry%20and%20cleaning%20services%3Cbr%3E%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%2430m%20from%20Kuwait-based%20Faith%20Capital%20Holding%20and%20Gulf%20Investment%20Corporation%3C%2Fp%3E%0A
The bio:

Favourite film:

Declan: It was The Commitments but now it’s Bohemian Rhapsody.

Heidi: The Long Kiss Goodnight.

Favourite holiday destination:

Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.

Heidi: Australia but my dream destination would be to go to Cuba.

Favourite pastime:

Declan: I love brunching and socializing. Just basically having the craic.

Heidi: Paddleboarding and swimming.

Personal motto:

Declan: Take chances.

Heidi: Live, love, laugh and have no regrets.

 

Tenet

Director: Christopher Nolan

Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh 

Rating: 5/5

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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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Company%20profile
%3Cp%3E%3Cbr%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Khodar%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%20and%20Alexandria%2C%20in%20Egypt%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ayman%20Hamza%2C%20Yasser%20Eidrous%20and%20Amr%20El%20Sheikh%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20agriculture%20technology%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%24500%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Saudi%20Arabia%E2%80%99s%20Revival%20Lab%20and%20others%3Cbr%3E%3Cstrong%3EEmployees%3A%3C%2Fstrong%3E%2035%3C%2Fp%3E%0A
West Indies v India - Third ODI

India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)

India won by 93 runs

RESULTS

6.30pm Al Maktoum Challenge Round-2 – Group 1 (PA) $49,000 (Dirt) 1,900m

Winner RB Frynchh Dude, Pat Cosgrave (jockey), Helal Al Alawi (trainer)

7.05pm Al Bastakiya Trial – Conditions (TB) $50,000 (D) 1,900m

Winner El Patriota, Vagner Leal, Antonio Cintra

7.40pm Zabeel Turf – Listed (TB) $88,000 (Turf) 2,000m

Winner Ya Hayati, Mickael Barzalona, Charlie Appleby

8.15pm Cape Verdi – Group 2 (TB) $163,000 (T) 1,600m

Winner Althiqa, James Doyle, Charlie Appleby

8.50pm UAE 1000 Guineas – Listed (TB) $125,000 (D) 1,600m

Winner Soft Whisper, Frankie Dettori, Saeed bin Suroor

9.25pm Handicap (TB) $68,000 (T) 1,600m

Winner Bedouin’s Story, Frankie Dettori, Saeed bin Suroor

CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A

Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

UAE currency: the story behind the money in your pockets
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Updated: September 08, 2021, 1:40 PM