New book exposes Doha’s murky European network

In a recent book titled Qatar Papers – How the Emirate finances Islam in France and Europe, two French journalists have laid bare the nation's funding of the Muslim Brotherhood on foreign soil. Although these facts will be unsurprising to a Middle Eastern audience, the book does a valuable job in making the rest of the world aware of Doha's actions.

According to the authors, a total of Dh296 million of Qatari money has been funnelled to more than 140 projects, including schools and community organisations, in seven European countries. In just one region in France, Qatar’s investments amounted to Dh18.9 million. These efforts appear to have eluded the attention of European leaders and left most police forces helpless. Swiss police even expressed their frustration to the authors, admitting they were unable to investigate the Brotherhood’s ties with the Muslim League of Switzerland. The French president Emmanuel Macron has attempted to keep the flow of Qatari money under control, urging Doha to ensure that none of its financial donations go unreported and that they do not end up in the hands of terrorists. However, the writers state: "Following our investigation we have some reason to doubt that the Qatari leader respected his promise."

The research also sheds light on the country's extensive ties to the controversial Swiss academic Tariq Ramadan. Mr Ramadan's Egyptian grandfather was the founder of the Muslim Brotherhood and his brother is head of the movement's Islamic Centre of Geneva. The University of Oxford professor is currently facing charges for the alleged rape of two women in France. The book shows that that Mr Ramadan has used Qatari money to pay for his legal battle against these allegations. It also discloses that Mr Ramadan was paid Dh144,400 a month as a consultant to the Qatar Foundation, a body set up by Sheikha Moza bint Nasser, the wife of the last emir, Sheikh Hamad bin Khalifa Al Thani.

The detail that the Qatar Papers delves into is both impressive and disturbing. Following a complex paper trail, it exposes the nation's extensive ties to the Muslim Brotherhood's activities in Europe and beyond. Now this information is out in the open, Europe's leaders would do well to take its seriously.tar Papers – How the Emirate finances Islam in France and Europe,

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.

MATCH INFO

Southampton 0
Manchester City 1 (Sterling 16')

Man of the match: Kevin de Bruyne (Manchester City)

Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

COMPANY PROFILE

Name: Yango Deli Tech
Based: UAE
Launch year: 2022
Sector: Retail SaaS
Funding: Self funded

Try out the test yourself

Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer

Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer

Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer

The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania.

Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).

UAE currency: the story behind the money in your pockets

Day 3, Abu Dhabi Test: At a glance

Moment of the day Just three balls remained in an exhausting day for Sri Lanka’s bowlers when they were afforded some belated cheer. Nuwan Pradeep, unrewarded in 15 overs to that point, let slip a seemingly innocuous delivery down the legside. Babar Azam feathered it behind, and Niroshan Dickwella dived to make a fine catch.

Stat of the day - 2.56 Shan Masood and Sami Aslam are the 16^th opening partnership Pakistan have had in Tests in the past five years. That turnover at the top of the order – a new pair every 2.56 Test matches on average – is by far the fastest rate among the leading Test sides. Masood and Aslam put on 114 in their first alliance in Abu Dhabi.

The verdict Even by the normal standards of Test cricket in the UAE, this has been slow going. Pakistan’s run-rate of 2.38 per over is the lowest they have managed in a Test match in this country. With just 14 wickets having fallen in three days so far, it is difficult to see 26 dropping to bring about a result over the next two.

Company profile

Name: WallyGPT
Started: 2014
Founders: Saeid and Sami Hejazi
Based: Dubai
Sector: FinTech
Investment raised: $7.1 million
Number of staff: 20
Investment stage: Pre-seed round