Egyptian journalists during a protest in solidarity with Palestinians at the headquarters of the Syndicate of Journalists in Cairo on Wednesday. AFP
Egyptian journalists during a protest in solidarity with Palestinians at the headquarters of the Syndicate of Journalists in Cairo on Wednesday. AFP
Egyptian journalists during a protest in solidarity with Palestinians at the headquarters of the Syndicate of Journalists in Cairo on Wednesday. AFP
Egyptian journalists during a protest in solidarity with Palestinians at the headquarters of the Syndicate of Journalists in Cairo on Wednesday. AFP

Egyptians express support for Gaza but worry about refugees


Kamal Tabikha
  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

Egyptians have reacted to the Israel-Gaza war with sympathy and support for the Palestinians, but have concerns over a potential influx of refugees as the country struggles with economic difficulties.

Egypt borders both Israel and the Gaza Strip, which has been under a "total siege" by Israeli forces since Monday, after the Palestinian militant group Hamas launched a surprise attack into southern Israel on Saturday.

The conflict on Egypt's border has captured the attention of Egyptians, with coffee shops in Cairo broadcasting live coverage of the war.

Most Egyptians who spoke to The National expressed their support for the people of Gaza, with some calling for a stronger Egyptian response after its only border crossing with Gaza was hit by Israeli shelling several times.

“Hundreds of women and children have been killed and likely more will follow them. What makes me angry most is the fact that despite three bombardments on the Rafah border crossing, Egypt’s military has not responded,” said Hassan Yehia, 38, a resident of Cairo’s Nasr City neighbourhood.

Mr Yehia is one of many Egyptians calling on President Abdel Fattah El Sisi to take a more pro-Palestinian stance in the war. Egypt has had diplomatic relations with Israel since the two countries signed a peace deal in 1979 and has co-ordinated with Israel on counterterrorism measures in recent years, but officially backs the creation of a Palestinian state.

“The state should at least expel the Israeli ambassador as a show of solidarity with Gaza,” said Salma Hamdy, 43, a history teacher at a secondary school in Nasr City.

On Wednesday, protesters reportedly chanted pro-Palestinian slogans and burnt Israeli flags outside the headquarters of the Syndicate of Journalists in Cairo.

Egyptian journalists chant slogans against Israel and the US during a protest in solidarity with Palestinians at the headquarters of the Syndicate of Journalists in Cairo on October 11, 2023. AFP
Egyptian journalists chant slogans against Israel and the US during a protest in solidarity with Palestinians at the headquarters of the Syndicate of Journalists in Cairo on October 11, 2023. AFP

Other Egyptians said that while they did not support violence against Israeli citizens, they condemned the Israeli state's actions against Palestinians.

“I did not like a lot of the videos of the Israeli civilians being abused by Hamas, and I wish there was a way to separate my support of Palestine with my dislike of violence, but the reality is, I don’t think there is in this situation," said Habiba Gad, 28, a filmmaker.

"The Israeli state has committed unspeakable crimes against Palestinians for decades and has not been held accountable so it seems that violence has been the language of this exchange since the start,” he said.

Palestinians inspect the destruction after overnight Israeli air strikes on Rafah in the southern Gaza Strip, close to the Egyptian border. AFP
Palestinians inspect the destruction after overnight Israeli air strikes on Rafah in the southern Gaza Strip, close to the Egyptian border. AFP

Mixed feelings on opening border

While many Egyptians sympathised with the Palestinians besieged in Gaza, there were mixed opinions on whether Egypt should open the Rafah crossing and allow Palestinians into Sinai.

The Egyptian government shut the only entry to Gaza on Tuesday.

“It’s inhumane whichever way you want to rationalise it. It’s a matter of letting people in danger through the crossing and then figuring out the politics afterwards. Some of these are women and children who have bombs falling on their heads,” Ms Hamdy said.

President El Sisi on Tuesday said that he would not allow the war in Gaza to be resolved “at the expense of others”, referring to suggestions that Gazans should be resettled in Sinai, a plan Egyptian leaders have consistently opposed.

Many Egyptians share the president’s unease about relocating Gazans in Sinai, especially given the security situation in the north of the peninsula, where the Egyptian military has been battling a low-level ISIS insurgency.

The insurgents have reportedly co-ordinated with Hamas, which is aligned with the Muslim Brotherhood in Egypt. Since coming to power in 2013, Mr El Sisi has cracked down on the Brotherhood and other Islamist groups.

The closed gates of the Rafah border crossing with Egypt on Tuesday. AFP
The closed gates of the Rafah border crossing with Egypt on Tuesday. AFP

Concerns over refugees as economy struggles

Others voiced concerns about the country's ability to cope with more refugees amid soaring inflation and a cost-of-living crisis.

“Egypt has enough refugees living in it. Just over the past 10 years or so, many Syrians came here to flee their war, then many thousands of Yemenis came when war broke out over there too," said Noha El Sayed, 50, an antique shop owner in Cairo.

"Then just this year, when war broke out in Sudan, the same happened and we allowed Sudanese refugees in,” she added.

Egypt is home to nine million foreign migrants, almost 9 per cent of its population, according to a 2022 report by the International Organisation for Migration.

An ongoing economic crisis has increased the cost of living to unprecedented heights for Egyptians.

The Egyptian pound has lost half its value since March 2022, and the government is considering another devaluation before the end of the year.

Shopping for fresh fruit and vegetables at Al Manhal market in the Nasr City district of Cairo in June last year. Bloomberg
Shopping for fresh fruit and vegetables at Al Manhal market in the Nasr City district of Cairo in June last year. Bloomberg

Echoes of October War

Many Egyptians saw meaning in the timing of Hamas's attack, which took place 50 years and a day after the October War of 1973, known as the Yom Kippur War in Israel.

Egyptians celebrate the October War as a victory because it resulted in the eventual return of the Sinai Peninsula to Egypt, which had been occupied after the defeat in the 1967 Arab-Israeli War.

Both the October War and the current Gaza-Israel war began with surprise attacks on Jewish holidays. Hamas launched its recent attack on Simchat Torah, while Egyptian forces took the Israeli military by surprise by attacking on Yom Kippur.

“Hamas launched its attack 50 years and a day after the October 6 victory against Israel. They look up to Egypt’s military back when it was good," Mr Yehyia said.

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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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

UAE currency: the story behind the money in your pockets
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Match info:

Real Betis v Sevilla, 10.45pm (UAE)

MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

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The specs: 2019 Jeep Wrangler

Price, base: Dh132,000

Engine: 3.6-litre V6

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Power: 285hp @ 6,400rpm

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Fuel economy, combined: 9.6L to 10.3L / 100km

UAE SQUAD

Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan

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COMPANY%20PROFILE
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Europe wide
Some of French groups are threatening Friday to continue their journey to Brussels, the capital of Belgium and the European Union, and to meet up with drivers from other countries on Monday.

Belgian authorities joined French police in banning the threatened blockade. A similar lorry cavalcade was planned for Friday in Vienna but cancelled after authorities prohibited it.

the pledge

I pledge to uphold the duty of tolerance

I pledge to take a first stand against hate and injustice

I pledge to respect and accept people whose abilities, beliefs and culture are different from my own

I pledge to wish for others what I wish for myself

I pledge to live in harmony with my community

I pledge to always be open to dialogue and forgiveness

I pledge to do my part to create peace for all

I pledge to exercise benevolence and choose kindness in all my dealings with my community

I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity

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WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
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Updated: October 12, 2023, 1:26 PM