• Egyptian mourners at a funeral of some of the 41 worshippers, many of them children, killed in Sunday's Abu Seifein church fire in Giza, greater Cairo. AFP
    Egyptian mourners at a funeral of some of the 41 worshippers, many of them children, killed in Sunday's Abu Seifein church fire in Giza, greater Cairo. AFP
  • Funerals were held at two Cairo churches after a blaze ripped through the Coptic Christian church during Sunday Mass. AFP
    Funerals were held at two Cairo churches after a blaze ripped through the Coptic Christian church during Sunday Mass. AFP
  • Coffins of those killed in the fire in the densely populated Imbaba working class district west of the Nile River. AFP
    Coffins of those killed in the fire in the densely populated Imbaba working class district west of the Nile River. AFP
  • Mourners at a funeral held at the church of the Blessed Virgin Mary in the Giza governorate. AFP
    Mourners at a funeral held at the church of the Blessed Virgin Mary in the Giza governorate. AFP
  • Crowds watch as a coffin is lifted into an ambulance to be taken to a memorial service. AP
    Crowds watch as a coffin is lifted into an ambulance to be taken to a memorial service. AP
  • Grieving family members at a joint funeral service. Reuters
    Grieving family members at a joint funeral service. Reuters
  • Egypt's Prime Minister Mostafa Madbouly visits the Abu Seifein church, which was gutted by a blaze blamed on an electrical fault. AFP
    Egypt's Prime Minister Mostafa Madbouly visits the Abu Seifein church, which was gutted by a blaze blamed on an electrical fault. AFP
  • Mostafa Madbouly speaks to officials at the blaze site. AFP
    Mostafa Madbouly speaks to officials at the blaze site. AFP
  • The prime minister visits one of the 14 people in hospital after the blaze. AFP
    The prime minister visits one of the 14 people in hospital after the blaze. AFP
  • Abandoned shoes at the church. AP
    Abandoned shoes at the church. AP
  • The fire-damaged church interior. AP
    The fire-damaged church interior. AP
  • A Coptic priest outside the church in the aftermath of the deadly blaze. AFP
    A Coptic priest outside the church in the aftermath of the deadly blaze. AFP
  • Egypt's Minister of Social Solidarity Nevine El Kabbag visits injured victims. Photo: MOSS
    Egypt's Minister of Social Solidarity Nevine El Kabbag visits injured victims. Photo: MOSS
  • At least 55 people were taken to hospital in 30 ambulances after they were injured in the blaze. Photo: MOSS
    At least 55 people were taken to hospital in 30 ambulances after they were injured in the blaze. Photo: MOSS
  • The congregation were packed in a chapel when the fire broke out. Reuters
    The congregation were packed in a chapel when the fire broke out. Reuters
  • Security forces members at the scene of the tragedy. Reuters
    Security forces members at the scene of the tragedy. Reuters
  • Damage caused to the church, where the fire is thought to have broken out in an air-conditioning unit. Reuters
    Damage caused to the church, where the fire is thought to have broken out in an air-conditioning unit. Reuters
  • Firefighters at the church in the aftermath of the deadly blaze. Photo: Ministry of the Interior
    Firefighters at the church in the aftermath of the deadly blaze. Photo: Ministry of the Interior
  • Firefighters enter the church building. Photo: Ministry of the Interior
    Firefighters enter the church building. Photo: Ministry of the Interior

Mohamed Salah sends donation to help rebuild Giza church damaged in deadly blaze


Kamal Tabikha
  • English
  • Arabic

Egyptian Liverpool forward Mohamed Salah has donated three million Egyptian pounds ($156,664) to help rebuild a church in Giza where a fire on Sunday killed 41 people and left several others injured.

Social media channels in Egypt were full of messages of gratitude to the footballer beloved by millions.

The donation was confirmed by prominent Egyptian sports reporter Ibrahim Abdel Gawad, who joined many others in thanking Salah in a Facebook post.

These included renowned cardiologist Dr Gamal Shaban, whose post, which was shared by thousands, included a part addressed to business mogul Naguib Sawiris.

Mr Sawiris, one of the country’s most high-profile Copts, has come under fire since Sunday for a tweet he made in the aftermath of the Abu Seifein Church fire, which strongly suggested that the blaze was not an accident and said he would not offer condolences until the culprit was established.

“You want to know the culprit? You are the real culprit. For neglecting your charity work, not taking care of the poor and only really investing in film festivals,” Dr Shaban wrote on Facebook, “Mohamed Salah donated 3 million to the church, how much have you donated?”

A number of other social media users expressed similar sentiments, prompting a response from him, which he made on Twitter to a user named Azza, to whom he wrote, “I don’t make public my donations, Azza.”

Liverpool's star forward Mohamed Salah. Getty
Liverpool's star forward Mohamed Salah. Getty

Salah was in June ranked by UK newspaper The Sunday Times as the eighth most charitable person in Britain. The player had in 2019 donated $3 million to Egypt’s National Cancer Institute after a terrorist attack that killed 20 and injured dozens.

He gave 12 million Egyptian pounds' worth of equipment to a prominent children’s cancer hospital in Egypt.

Salah was also photographed in Liverpool in 2020 during the Covid-19 pandemic paying for some of his fans’ fuel.

The specs: 2019 Mini Cooper

Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km

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.”

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ESupy%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EDani%20El-Zein%2C%20Yazeed%20bin%20Busayyis%2C%20Ibrahim%20Bou%20Ncoula%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3EFood%20and%20beverage%2C%20tech%2C%20hospitality%20software%2C%20Saas%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%20%3C%2Fstrong%3EBootstrapped%20for%20six%20months%3B%20pre-seed%20round%20of%20%241.5%20million%3B%20seed%20round%20of%20%248%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EBeco%20Capital%2C%20Cotu%20Ventures%2C%20Valia%20Ventures%20and%20Global%20Ventures%3C%2Fp%3E%0A
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

While you're here
MATCH INFO

Manchester United v Manchester City, Wednesday, 11pm (UAE)

Match is on BeIN Sports

Updated: August 17, 2022, 10:43 AM