Saleh still using his skills



Yet more twists and turns from Saleh

The US administration feels humiliated after its calls for Yemeni President Ali Abdullah Saleh to step down from office fell on deaf ears, noted the London-based newspaper Al Quds Al Arabi in its editorial.

In response, Washington is preparing to go to the UN Security Council for a resolution requiring Saleh to sign the GCC initiative and hand over power to his deputy Abdu Rabu Mansour Hadi, a step leading to parliamentary and presidential elections.

Apparently Mr Saleh was able to circumvent US and regional pressure by showing a sort of make-believe flexibility. He once pledged to sign the GCC plan, and at another time added more conditions. This was done to gain more time.

"We cannot predict the reaction of the Yemeni president regarding the new US move, but we may assume that he has still got some tricks up his sleeve to circumvent the present crisis, as he did before. The man has proved to be skilful in the art of manoeuvring."

Mr Saleh had been undertaking extensive consultations to anticipate any potential decision by the Security Council. One of the options he might go for is to step down, only to form a military council to run state affairs. And this may suit the US interests too, since Washington believes that the Yemeni army is essential to continue the war against Al Qaeda.

Egypt's Copts and the coexistence myth

"I wished that Egyptian Muslims had taken to the streets this week in memory of their fellow citizens, who were killed last week at Maspero,"Maamoun Afandi wrote in the pan-Arab newspaper Asharq Al Awsat.

Egyptian Muslims appeared indifferent about the pains of their fellow citizens, and were not interested in filling Tahrir Square to defend the much-talked-about national unity. Authorities denied any responsibility and blame unknown external parties.

"It's important to know that the army is less biased than some state institutions against Copts. Yet the leaders, who worked with Hosni Mubarak, still hold his discriminatory views.

"Discrimination against Copts in Egypt is complex. It starts at home, and continues at school, mosque and media. We claim Egypt is a site of coexistence between Muslims and Copts, but the very Egyptian coexistence parlance is a minefield of stereotypes."

The crisis between Muslims and Christians in Egypt is not a crisis over a church. It is deeper. It is a crisis of the whole cultural system, a civilisational predicament, as it is, that affects all aspects of Christians' life.

We demand to end forms of intolerance in the West towards Muslims, but what Muslims do in Egypt against Christians is no less cruel. The only difference is that Muslims are new to the West, while Copts have been Egyptians for thousands of years.

Syrian opposition must move beyond reaction

The Syrian opposition still benefits from the mistakes of President Bashar Al Assad, which can help it reach power sooner than many have expected, argued Satea Noureddine in a commentary for the Lebanese newspaper Assafir.

The opposition must owe much of its popularity to the regime's behaviour rather than to its own political or ideological discourse. It cannot grow stronger, because of its loose organisation and shaky leadership competencies.

If the regime continues to oppress the opposition, the popular uprising will have to choose between either to act independently or to reorganise itself by standing by the defected army and armed civilians, who are, for the most part, fighting a war without any clear political motives other than individual revenge against state tyranny.

It is likely, therefore, that the regime is veering toward its end, after it has used and abused security option, a strategy that was less than successful in controlling the situation in, for example, Daraa, the cradle of the uprising. The same is true for other cities and towns, which have challenged the regime politically and remained staunch in their demands.

The next step is for the opposition to think rationally by translating popular demands into a political agenda, with clear objectives. Urgent issues should include municipal, legislative and presidential elections.

Signs of impending worldwide uprising

Discontent with the performance of governments and the rapacity of the capitalist system is assuming universal proportions, presaging what may be "the first worldwide revolution", Al Sayyed Yassin wrote in the London-based newspaper Al Hayat.

An unsigned call to action was circulating on the internet last week, urging "people from America to Asia and from Africa to Europe" to take to the streets on Saturday and peacefully put pressure on governments that serve only wealthy elites.

And it happened. On Saturday, thousands of people in capitals around the world demonstrated peacefully - except in Rome where the protest turned into a riot - and called on their respective governments to change.

Some wanted an end to war, others wanted better health care, but the same aversion to capitalism was at the root of all the protests.

"When you look closely at all those demands, you will find that they basically sum up the fierce social criticism that has been levelled at globalisation and capitalism by eastern and western writers alike."

Capitalism is indeed collapsing. As a historical paradigm, it has reached its limit and a new epistemological and economic system - one that is socially driven - is likely to replace it.

* Digest compiled by Mostapha El Mouloudi

Common%20symptoms%20of%20MS
%3Cul%3E%0A%3Cli%3EFatigue%3C%2Fli%3E%0A%3Cli%3Enumbness%20and%20tingling%3C%2Fli%3E%0A%3Cli%3ELoss%20of%20balance%20and%20dizziness%3C%2Fli%3E%0A%3Cli%3EStiffness%20or%20spasms%3C%2Fli%3E%0A%3Cli%3ETremor%3C%2Fli%3E%0A%3Cli%3EPain%3C%2Fli%3E%0A%3Cli%3EBladder%20problems%3C%2Fli%3E%0A%3Cli%3EBowel%20trouble%3C%2Fli%3E%0A%3Cli%3EVision%20problems%3C%2Fli%3E%0A%3Cli%3EProblems%20with%20memory%20and%20thinking%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

North Pole stats

Distance covered: 160km

Temperature: -40°C

Weight of equipment: 45kg

Altitude (metres above sea level): 0

Terrain: Ice rock

South Pole stats

Distance covered: 130km

Temperature: -50°C

Weight of equipment: 50kg

Altitude (metres above sea level): 3,300

Terrain: Flat ice
 

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

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.”

Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

'The Sky is Everywhere'

Director:Josephine Decker

Stars:Grace Kaufman, Pico Alexander, Jacques Colimon

Rating:2/5

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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.

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now