The New Suez Canal, which officially opens today, is already freighted with Egyptian hopes and dreams in a way the historic 146-year-old original was not, at least for much of the first century of its existence. There are three main reasons for this sense of proud, joyful ownership of the new channel.
It was conceived by an Egyptian, not a foreigner. It was built with Egyptian pounds invested by ordinary Egyptians, not money laboriously raised on a sceptical international market by the Suez Canal Company, which was formed by a French diplomat in 1858.
The new 72km waterway was constructed under the Egyptian army’s supervision in just one year – not the decade it took the forced labour of tens of thousands of Egyptians to connect the Mediterranean with the Red Sea.
And finally, the new canal is nothing like the 1869 channel, which was the product of French ambition and ingenuity, pockmarked by competition among the imperial powers and nodded through by an Egyptian leader eager to please Paris.
The new canal is opening in a week that has done much to restore Egyptian confidence as it seeks to recover from four years of political and economic tumult. Last Thursday, president Abdel Fattah El Sisi and Saudi defence minister and deputy Crown Prince Mohammed bin Salman signed the Cairo Declaration, aimed at boosting bilateral military and economic ties. On Sunday, US secretary of state John Kerry restarted the so-called strategic dialogue with his Egyptian counterpart Sameh Shoukry in Cairo and announced that bilateral trade and investment consultations would resume this year.
It’s not just the start of a good week, Mr Shoukry told me later: “We Egyptians don’t think in terms of days and weeks. It’s the start of a good 100 years.”
The streets of the Egyptian capital bear witness to the surge of popular enthusiasm for Suez 2.0, billed as a key “national project” by the government.
It is not just the festive lights strung up around Tahrir Square and the blue and white banners and billboards everywhere, emblazoned with a drawing of a ship at sea and a smiling Mr El Sisi. Everyone is full of stories about the incredible diversity of those who bought the five-year canal investment certificate, which started at as little as 10 Egyptian pounds (Dh4.7).
To some, the euphoria over a waterway may seem inexplicable in the age of the information superhighway.
Surely ideas transmitted by fibre optic cable should be more important to today’s global economy than goods loaded on to shipping containers?
In the 19th century, the canal might have been an emblem of progress and a triumph of engineering, but its expansion (even if speedy) is surely not quite so mythical a feat in the 21st century?
In fact, more than a decade before Mr El Sisi first spoke of a new canal, historian Zachary Karabell questioned the modern relevance of the old waterway in Parting the desert: The creation of the Suez Canal.
It made good sense when it was built, he wrote, because “the journey from Europe to India was sliced from months to weeks, and the arduous route around the Cape of Good Hope was rendered obsolete”. But then the 20th century “reversed the process,” he argued.
Modern tankers could take the longer route and the cost was much the same, while the shorter route through the Suez meant paying canal dues.
“The navies of the world take advantage of the canal for reasons of convenience,” he wrote, “but outside of Egypt or Israel, Jordan or Saudi Arabia, it is no one’s strategic priority”.
This is a contentious point of view. But, the Suez Canal could at least lay claim to being unique in joining east and west, or as the late Palestinian-American professor Edward Said put it, destroying “the Orient’s distance, its cloistered intimacy away from the West, its perdurable exoticism”.
The New Suez Canal cannot claim that special status. So is the current canal fever no more than patriotic delirium? Not quite.
It is indisputable that the new canal will nearly double traffic by allowing ships to pass north and south concurrently. It will dramatically reduce waiting times for vessels.
It may, as hoped, boost investor confidence in the Egyptian government’s determination to do what it says and say no more than it can do.
It is possible that it will, as projected, almost treble annual earnings from the Suez for Egypt to $13 billion by 2023.
The most tenuous though may be the government’s grandest vision yet: the development of the Nile corridor as a whole, all along the new waterway, a gargantuan project that would need $150 billion and unwavering focus.
This is a bold plan but not in the way president Gamal Abdel Nasser remade the world nearly 60 years ago by nationalising the old Suez Canal.
That speech, in Alexandria, took the form of a passionate diatribe against colonialism. It electrified Egyptians, had enormous consequences for British and French influence and promoted a cathartic pan-Arab nationalism, albeit one that resulted in several misguided initiatives.
In some ways, the new canal makes the Suez route Egyptian in ways that just nationalising it never could.
Rashmee Roshan Lall is an itinerant writer on world affairs
On Twitter: @rashmeerl
Cinco in numbers
Dh3.7 million
The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown
46
The number, in kilograms, that Swarovski’s wedding gown weighed.
1,000
The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]
50
How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday
3,000
The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.
1.1 million
The number of followers that Michael Cinco’s Instagram account has garnered.
Company profile
Name: Tabby
Founded: August 2019; platform went live in February 2020
Founder/CEO: Hosam Arab, co-founder: Daniil Barkalov
Based: Dubai, UAE
Sector: Payments
Size: 40-50 employees
Stage: Series A
Investors: Arbor Ventures, Mubadala Capital, Wamda Capital, STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and AB Accelerator.
COMPANY PROFILE
Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)
Mohammed bin Zayed Majlis
Results
2.15pm: Maiden (PA) Dh40,000 1,200m
Winner: Maqam, Fabrice Veron (jockey), Eric Lemartinel (trainer).
2.45pm: Maiden (PA) Dh40,000 1,200m
Winner: Mamia Al Reef, Szczepan Mazur, Ibrahim Al Hadhrami.
3.15pm: Handicap (PA) Dh40,000 2,000m
Winner: Jaahiz, Fabrice Veron, Eric Lemartinel.
3.45pm: Handicap (PA) Dh40,000 1,000m
Winner: Qanoon, Szczepan Mazur, Irfan Ellahi.
4.15pm: Sheikh Hamdan bin Rashid Cup Handicap (TB) Dh200,000 1,700m.
Winner: Philosopher, Tadhg O’Shea, Salem bin Ghadayer.
54.45pm: Handicap (PA) Dh40,000 1,700m
Winner: Jap Al Yassoob, Fernando Jara, Irfan Ellahi.
The five pillars of Islam
Company profile
Company name: Shipsy
Year of inception: 2015
Founders: Soham Chokshi, Dhruv Agrawal, Harsh Kumar and Himanshu Gupta
Based: India, UAE and Indonesia
Sector: logistics
Size: more than 350 employees
Funding received so far: $31 million in series A and B rounds
Investors: Info Edge, Sequoia Capital’s Surge, A91 Partners and Z3 Partners
Sly Cooper and the Thievius Raccoonus
Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5
Results:
5pm: Maiden (PA) Dh80,000 1,400m | Winner: Eghel De Pine, Pat Cosgrave (jockey), Eric Lemartinel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,400m | Winner: AF Sheaar, Szczepan Mazur, Saeed Al Shamsi
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA) Group 3 Dh500,000 1,600m | Winner: RB Torch, Fabrice Veron, Eric Lemartinel
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (TB) Listed Dh380,000 1,600m | Winner: Forjatt, Chris Hayes, Nicholas Bachalard
7pm: Wathba Stallions Cup for Private Owners Handicap (PA) Dh 70,000 1,400m | Winner: Hawafez, Connor Beasley, Ridha ben Attia
7.30pm: Handicap (PA) Dh 80,000 1,600m | Winner: Qader, Richard Mullen, Jean de Roaulle
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Sholto Byrnes on Myanmar politics
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
The specs
Engine: Dual synchronous electric motors
Power: 660hp
Torque: 1,100Nm
Transmission: Single-speed automatic
Touring range: 488km-560km
Price: From Dh850,000 (estimate)
On sale: October
more from Janine di Giovanni
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
In The Heights
Directed by: Jon M. Chu
Stars: Anthony Ramos, Lin-Manual Miranda
Rating: ****
Guardians of the Galaxy Vol 3
Director: James Gunn
Stars: Chris Pratt, Zoe Saldana, Dave Bautista, Vin Diesel, Bradley Cooper
Rating: 4/5
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
INDIA SQUAD
Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami
Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
The Kingfisher Secret
Anonymous, Penguin Books
The bio
Favourite book: The Alchemist by Paulo Coelho
Favourite travel destination: Maldives and south of France
Favourite pastime: Family and friends, meditation, discovering new cuisines
Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.
Favourite Author: My father for sure
Favourite Artist: Damien Hurst