Somali President Hassan Sheikh Mohamud and Egyptian President Abdel Fattah El Sisi at the Al-Ittihadiya Palace in Cairo, Egypt. Photo: @TheVillaSomalia / X
Somali President Hassan Sheikh Mohamud and Egyptian President Abdel Fattah El Sisi at the Al-Ittihadiya Palace in Cairo, Egypt. Photo: @TheVillaSomalia / X
Somali President Hassan Sheikh Mohamud and Egyptian President Abdel Fattah El Sisi at the Al-Ittihadiya Palace in Cairo, Egypt. Photo: @TheVillaSomalia / X
Somali President Hassan Sheikh Mohamud and Egyptian President Abdel Fattah El Sisi at the Al-Ittihadiya Palace in Cairo, Egypt. Photo: @TheVillaSomalia / X

El Sisi warns Ethiopia over Somaliland Red Sea deal


Hamza Hendawi
  • English
  • Arabic

Egyptian President Abdel Fattah El Sisi has warned Ethiopia over its preliminary deal with Somalia's breakaway region of Somaliland to gain access to the Red Sea.

Making his first public comments about the deal signed on January 1, Mr El Sisi on Sunday said Cairo would not tolerate anyone threatening or breaching Somalia's security.

“Let me state this very clearly; Egypt will not allow anyone to breach or threaten Somalia’s security … no one should test Egypt’s resolve or try to threaten its brotherly nations, especially if its brothers asked for its support,” he said.

He made the comments after hosting Somalia’s President Hassan Sheikh Mohamud for talks in Egypt's capital, less than three weeks after landlocked Ethiopia and Somaliland signed an agreement that would lease to Addis Ababa a 20km stretch of its Red Sea coastline.

Somaliland broke away from Somalia in 1991 but remains internationally unrecognised despite its claim to independence. It sits at a strategic location close to the Gulf of Aden and the southern mouth of the Red Sea. Somalia opposes the independence of Somaliland and has reacted furiously to its deal with Ethiopia.

Addressing Ethiopia directly, Mr El Sisi said Addis Ababa should aim to secure access to the Red Sea through “traditional channels” with Djibouti, Somalia and Eritrea.

“No one will object to that but no one will tolerate anyone trying to pounce on the territory of others and control it one way or another,” he said, alluding to the Ethiopia-Somaliland deal.

Turning to the Somali President, Mr El Sisi said: “Be reassured that, with the grace of God, we are behind you.”

Somaliland President Muse Bihi Abdi and Ethiopia’s Prime Minister Abiy Ahmed attend the signing of a deal that allows Ethiopia to use a Somaliland port. Reuters
Somaliland President Muse Bihi Abdi and Ethiopia’s Prime Minister Abiy Ahmed attend the signing of a deal that allows Ethiopia to use a Somaliland port. Reuters

The Somali President said Mogadishu viewed Egypt as a historic ally and thanked Cairo for what he called its swift condemnation of Ethiopia's illegal action.

“The partnership between Egypt and Somalia should not be viewed as a threat to anyone,” Mr Mohamud said. "It's meant to strengthen stability and security in the Red Sea region."

The Ethiopia-Somaliland agreement was strongly condemned by the Arab League – of which Somalia is a member – during an emergency meeting of its foreign ministers last week.

Somalia says the deal has also triggered protests across Somaliland, with citizens divided over the deal. Some see potential economic benefits, while others fear compromising their sovereignty.

Somalia said last week the deal betrayed Ethiopia's ambitions to hurt Arab national security.

With a population of more than 120 million, Ethiopia is the most populous landlocked country in the world. It relies heavily on ports in Djibouti for foreign trade since Eritrea achieved independence in 1993, depriving Ethiopia of a coastline.

The Ethiopian government maintains that access to the Red Sea is an existential necessity for the Horn of Africa nation.

Egypt has clashed with Ethiopia over the latter's construction of a massive Nile dam. Cairo says the Grand Ethiopian Renaissance Dam will reduce its vital share of the Nile's waters.

More than a decade of on-and-off negotiations have failed to resolve the dam dispute, with Addis Ababa rejecting Cairo's proposals for a legally binding agreement on the filling and operation of the dam. Addis Ababa, to whom the dam is key to its development, has also rejected proposals for international mediators, insisting only the African Union should play that role.

The Grand Ethiopian Renaissance Dam during a ceremony marking the first power generation of the dam in Guba, Ethiopia in 2022. EPA
The Grand Ethiopian Renaissance Dam during a ceremony marking the first power generation of the dam in Guba, Ethiopia in 2022. EPA

Egypt also fears if Ethiopia gains access to the Red Sea via the Somaliland deal, it could be tempted to establish a military presence that could potentially threaten Egyptian interests in the strategic waterway.

Egypt’s state-controlled media has been espousing the theory that Ethiopia, which wields significant influence in the Horn of Africa region, has been seeking to undermine Egypt’s interests on behalf of other nations, with Israel always mentioned as a prime suspect.

Egyptian security officials have said Cairo wants to help Mogadishu unify Somalia and upgrade its capabilities.

The Somali President on Sunday said he and Mr El Sisi had discussed ways to bolster economic, political and military co-operation between the two Afro-Arab nations, but gave no details.

The two leaders pose for a photograph in Cairo. Photo: @TheVillaSomalia / X
The two leaders pose for a photograph in Cairo. Photo: @TheVillaSomalia / X
Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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FINAL RESULT

Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)

Wanderers
Tries: Gormley, Penalty
cons: Flaherty
Pens: Flaherty 2

Tigers
Tries: O’Donnell, Gibbons, Kelly
Cons: Caldwell 2
Pens: Caldwell, Cross

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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Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

Fixtures and results:

Wed, Aug 29:

  • Malaysia bt Hong Kong by 3 wickets
  • Oman bt Nepal by 7 wickets
  • UAE bt Singapore by 215 runs

Thu, Aug 30: 

  • UAE bt Nepal by 78 runs
  • Hong Kong bt Singapore by 5 wickets
  • Oman bt Malaysia by 2 wickets

Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal

Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore

Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong

Thu, Sep 6: Final

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Directors: Anthony Russo, Joe Russo

Starring: Robert Downey Jr, Chris Evans, Scarlett Johansson, Chris Hemsworth, Josh Brolin

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Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
UAE currency: the story behind the money in your pockets
Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

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Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

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%3Cp%3EDavid%20White%20might%20be%20new%20to%20the%20country%2C%20but%20he%20has%20clearly%20already%20built%20up%20an%20affinity%20with%20the%20place.%3Cbr%3E%3Cbr%3EAfter%20the%20UAE%20shocked%20Pakistan%20in%20the%20semi-final%20of%20the%20Under%2019%20Asia%20Cup%20last%20month%2C%20White%20was%20hugged%20on%20the%20field%20by%20Aayan%20Khan%2C%20the%20team%E2%80%99s%20captain.%3Cbr%3E%3Cbr%3EWhite%20suggests%20that%20was%20more%20a%20sign%20of%20Aayan%E2%80%99s%20amiability%20than%20anything%20else.%20But%20he%20believes%20the%20young%20all-rounder%2C%20who%20was%20part%20of%20the%20winning%20Gulf%20Giants%20team%20last%20year%2C%20is%20just%20the%20sort%20of%20player%20the%20country%20should%20be%20seeking%20to%20produce%20via%20the%20ILT20.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20is%20a%20delightful%20young%20man%2C%E2%80%9D%20White%20said.%20%E2%80%9CHe%20played%20in%20the%20competition%20last%20year%20at%2017%2C%20and%20look%20at%20his%20development%20from%20there%20till%20now%2C%20and%20where%20he%20is%20representing%20the%20UAE.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20was%20influential%20in%20the%20U19%20team%20which%20beat%20Pakistan.%20He%20is%20the%20perfect%20example%20of%20what%20we%20are%20all%20trying%20to%20achieve%20here.%3Cbr%3E%3Cbr%3E%E2%80%9CIt%20is%20about%20the%20development%20of%20players%20who%20are%20going%20to%20represent%20the%20UAE%20and%20go%20on%20to%20help%20make%20UAE%20a%20force%20in%20world%20cricket.%E2%80%9D%C2%A0%3C%2Fp%3E%0A
Updated: January 21, 2024, 5:37 PM