When Sudan's army seized power in Khartoum on October 25, many Sudanese worried about a revisit to something like Omar Al Bashir’s tyrannical rule. The hundreds of thousands in the streets protesting against the takeover have rejected the prospect of a minority of army generals and politicians speaking with a loud voice, when media blackouts and internet outages have, in their eyes, muted the majority. And they most fiercely rejected the idea of a tighter concentration of power after toppling an autocrat.
In a televised address on Sunday, Gen Abdel Fattah Al Burhan proposed a solution to the crisis: to reinstate ousted Prime Minister Abdallah Hamdok. Gen Al Burhan's intentions seem clear. First, he is reluctant to leave any impression that he rules unilaterally. And second, he wants to emphasise that the military's intervention only occurred because some politicians had earlier tried to hijack the policy-making process, causing the civilian government to drift deeper into animosity and division.
The general's main criticism was reserved for the Forces of Freedom of Change (FFC), the pro-democracy umbrella group that had led the 2019 uprising against Al Bashir and formed Mr Hamdok's power base. Gen Al Burhan and his camp do not believe “coup” is the right word to describe the events of last months. Terminology matters.
The new political agreement between Gen Al Burhan and Mr Hamdok also promises the freedom of all political detainees, and to uphold the earlier commitment to free elections in the future. Most of the international community doesn't want either side or any party to take unilateral steps. Sudan's foreign allies would like both sides to stick to the original political road map agreed in August 2019.
Still, for all of the conciliatory words, there’s no love lost between the army and the protesters. The latter are backed by a cohort of influential political parties coalesced around the FFC alliance, whose main representatives wereconspicuous by their absence from the presidential palace in Khartoum on Sunday. But in any relationship, trust is more important – and harder to come by – than love. And prominent protest movement leaders say they have already trusted the army too much to be let down after two years of what was portrayed in the beginning as an amazing partnership. Many of them now want a permanent divorce.
Yet, some have balked further at the prospect of the return of Mr Hamdok, and rejected his new deal. “This is an insult to the people on the streets. If you trust so much, you will only be deceived, no?” Seddiq Abu Fawwaz, a leading figure at the FFC told me.
But those who do support the new deal see it an historic and wise move from Mr Hamdok, who was a former director at the UN Economic Commission for Africa. In their eyes, this agreement stops the bloodshed and reinforces the fragile stability Sudan has witnessed after decades of international sanctions and financial malaise.
Across the whole of society, however, there is indeed a general air of despondency about the state of democracy in Sudan. Ironically, that common sentiment is derived from the widespread recognition that Sudanese people from different walks of life see the country very differently.
When one talks to politicians and generals, they make Sudan sound very stable, and believe that both the country and the world will move on from the current crisis quickly. Jibril Ibrahim, the Finance Minister, is one of those who propagates this picture, so it is perhaps no surprise that he was one of nine ministers to retained their posts in the aftermath of the military intervention. The minister of urban development, on the other hand, had resigned in protest.
“Some parties in the FFC wanted to negate the army completely,” Mr Ibrahim told me in a recent interview. “This was wrong as it’s part and parcel of society in Sudan. We need a balance of power without excluding anyone from the political and ethnic mosaic of Sudan.”
Interviews with protesters, however, paint an entirely different, much more complex picture.
And despite the fact that Sudan's Sovereign Council, which acts as the country's head of state, is made up of 9 civilians and five military officers, the protesters believe the balance of influence is in favour of the military. The concern is that a revived military-civilian partnership will be weakened by the legacy of the October military takeover.The army insists that its intervention rectified the course of the revolution, and will have to work hard to make that the case.
Gen Al Burhan's task now is to convince Mr Hamdok and his camp that the new deal is the celebration of trust and commitment, and a closure of a chapter of mistrust and misgivings. It will take a big effort to convince many Sudanese of the same.
COMPANY%20PROFILE
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
Skoda Superb Specs
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The specs
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UFC Fight Night 2
1am – Early prelims
2am – Prelims
4am-7am – Main card
7:30am-9am – press cons
Match info
UAE v Bolivia, Friday, 6.25pm, Maktoum bin Rashid Stadium, Dubai
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
Brief scores:
Toss: Pakhtunkhwa Zalmi, chose to field
Environment Agency: 193-3 (20 ov)
Ikhlaq 76 not out, Khaliya 58, Ahsan 55
Pakhtunkhwa Zalmi: 194-2 (18.3 ov)
Afridi 95 not out, Sajid 55, Rizwan 36 not out
Result: Pakhtunkhwa won by 8 wickets
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
ENGLAND SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
Personalities on the Plate: The Lives and Minds of Animals We Eat
Barbara J King, University of Chicago Press
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Dubai World Cup Carnival card
6.30pm: UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
7.05pm: Handicap (TB) $135,000 (Turf) 1,000m
7.40pm: Handicap (TB) $175,000 (D) 1,900m
8.15pm: Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
8.50pm: Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
9.25pm: Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
The National selections
6.30pm: Final Song
7.05pm: Pocket Dynamo
7.40pm: Dubai Icon
8.15pm: Dubai Legacy
8.50pm: Drafted
9.25pm: Lucius Tiberius