Opponents say President Kais Saied is seeking to reinstall an autocracy in the birthplace of the 2011 Arab uprisings. AP
Opponents say President Kais Saied is seeking to reinstall an autocracy in the birthplace of the 2011 Arab uprisings. AP
Opponents say President Kais Saied is seeking to reinstall an autocracy in the birthplace of the 2011 Arab uprisings. AP
Opponents say President Kais Saied is seeking to reinstall an autocracy in the birthplace of the 2011 Arab uprisings. AP

Tunisian President Kais Saied vows 'zero tolerance' of referendum fraud


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Tunisian President Kais Saied has said there will be “zero tolerance” for anyone who tries to derail a referendum on a controversial new constitution later this month.

Mr Saied said on Monday all parties should adhere to "neutrality" and must pay attention to "multiple attempts to infiltrate registration processes".

"There is no room for tolerance with those who want to thwart the referendum," he said during a meeting with Farouk Bouaskar, head of the Independent High Authority for Elections, at the Carthage Palace.

Mr Saied has warned of attempted electoral fraud in the coming vote, claiming the authorities have detected manipulation as voters register at polling centres before the referendum.

It comes after the Tunisian opposition renewed calls on Monday for a boycott of the July 25 referendum, despite the publication of an amended draft of the proposed constitution.

The draft constitution is the centrepiece of Mr Saied's programme to overhaul Tunisia's political system.

Rivals say the text confirms fears he is seeking to reinstall an autocracy in the birthplace of the 2011 Arab uprisings.

"We call on Tunisians to boycott this illegal, unconstitutional process that aims to legitimise a coup d'etat," veteran opposition figure Ahmed Nejib Chebbi told AFP.

Mr Chebbi said rights and freedoms would be threatened if the charter was approved.

"For me it's the quintessential bad constitution," he said.

Veteran opposition figure Ahmed Nejib Chebbi has called for a boycott of an 'illegal, unconstitutional process'. AFP
Veteran opposition figure Ahmed Nejib Chebbi has called for a boycott of an 'illegal, unconstitutional process'. AFP

Mr Chebbi's National Salvation Front includes five political parties, among them Mr Saied's nemesis the Ennahdha party, along with five civil society groups involving independent political figures.

It was formed in April, months after Mr Saied, a former law professor elected in 2019 amid public anger against the political class, sacked the government and suspended parliament, later seizing far-reaching legislative and judicial powers.

Mr Saied's initial power grab was welcomed by many Tunisians sick of the often-deadlocked post-revolution political system.

But critics have said his moves risk a return to autocracy, a decade after the 2011 overthrow of Zine El Abidine Ben Ali in a popular revolt.

  • Protesters in Tunis try to break through security barriers to reach the headquarters of the Independent High Authority for Elections during a demonstration against Tunisian President Kais Saied. All photos: EPA
    Protesters in Tunis try to break through security barriers to reach the headquarters of the Independent High Authority for Elections during a demonstration against Tunisian President Kais Saied. All photos: EPA
  • A demonstrator holds a sign reading 'the organisation of the president = the organisation of fraud' during a demonstration in Tunis. EPA
    A demonstrator holds a sign reading 'the organisation of the president = the organisation of fraud' during a demonstration in Tunis. EPA
  • The leader of Tunisia's Popular Front party, Hamma Hammami, shouts slogans during a demonstration against President Kais Saied and a referendum on a new constitution to be held on July 25. EPA
    The leader of Tunisia's Popular Front party, Hamma Hammami, shouts slogans during a demonstration against President Kais Saied and a referendum on a new constitution to be held on July 25. EPA
  • Tunisians shout slogans against President Kais Saied in Tunis. EPA
    Tunisians shout slogans against President Kais Saied in Tunis. EPA
  • Protesters try to break through security barriers to reach the entrance to the headquarters of the Independent High Authority for Elections in Tunis. EPA
    Protesters try to break through security barriers to reach the entrance to the headquarters of the Independent High Authority for Elections in Tunis. EPA

The process of writing the constitution has also come under fire.

The legal expert who oversaw the constitution's drafting has disavowed it, saying it was "completely different" from what his committee had submitted and warning that some articles could "pave the way for a dictatorial regime".

Last week, Mr Saied published an amended draft, apparently attempting to ward off criticism after the original was criticised for the nearly unlimited power it gave his office.

On Monday, Jawhar Ben Mbarek, leader of Citizens Against the Coup, urged Tunisians to "massively reject this referendum".

"We reject the entire process," he told AFP. "We are committed to the 2014 constitution, which we consider to be the only legal constitution, representative of the will of the Tunisian people."

The EU called Monday for an "inclusive national dialogue", saying it would be "a cornerstone of any credible constitutional process and long-term stability".

"It is essential to bring together the widest possible spectrum of political and societal actors in addressing the political, economic and social challenges the country is facing," said EU foreign policy chief Josep Borrell's office.

'A catastrophe in public finances'

The country's economy has been dealt a huge blow by Russia's war in Ukraine, according to a report in the Financial Times on Tuesday.

Increases in global food and energy prices sparked by the conflict pushed inflation up to a record 8.1 per cent in June, the report said, creating a heavier burden on people who were already living through an economic crisis.

Living standards in Tunisia have plummeted over the past decade since the 2011 uprisings.

Increasing costs for wheat and oil imports have put further strain on a government heavily in debt. The country subsidises bread and fuel for its 12 million people.

Fadhel Abdel Kefi, a former investment minister and leader of the opposition Afek Tunis party, told the Financial Times: “Since independence in 1956, we have not lived a catastrophe in public finances like the one we have been experiencing since 2020.

“The government owes money to milk producers, bakers and construction companies."

Januzaj's club record

Manchester United 50 appearances, 5 goals

Borussia Dortmund (loan) 6 appearances, 0 goals

Sunderland (loan) 25 appearances, 0 goals

The rules of the road keeping cyclists safe

Cyclists must wear a helmet, arm and knee pads

Have a white front-light and a back red-light on their bike

They must place a number plate with reflective light to the back of the bike to alert road-users

Avoid carrying weights that could cause the bike to lose balance

They must cycle on designated lanes and areas and ride safe on pavements to avoid bumping into pedestrians

if you go

The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip 
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles. 

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

Last 10 NBA champions

2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2

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.”

MATCH INFO

Sheffield United 3

Fleck 19, Mousset 52, McBurnie 90

Manchester United 3

Williams 72, Greenwood 77, Rashford 79

Major matches on Manic Monday

Andy Murray (GBR) v Benoit Paire (FRA)

Grigor Dimitrov (BGR) v Roger Federer (SUI)

Rafael Nadal (ESP) v Gilles Muller (LUX)

Adrian Mannarino (FRA) Novak Djokovic (SRB)

23-man shortlist for next six Hall of Fame inductees

Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
Neil Thomson – THE BIO

Family: I am happily married to my wife Liz and we have two children together.

Favourite music: Rock music. I started at a young age due to my father’s influence. He played in an Indian rock band The Flintstones who were once asked by Apple Records to fly over to England to perform there.

Favourite book: I constantly find myself reading The Bible.

Favourite film: The Greatest Showman.

Favourite holiday destination: I love visiting Melbourne as I have family there and it’s a wonderful place. New York at Christmas is also magical.

Favourite food: I went to boarding school so I like any cuisine really.

Updated: June 14, 2023, 7:21 AM