Follow the latest news on the 2024 Paris Olympics
Despite not being able to secure the services of Mohamed Salah, Egypt’s football team kick off their Paris Olympics campaign against the Dominican Republic on Wednesday with high hopes for a podium finish.
Captained by former Arsenal midfielder Mohamed Elneny, the young Pharaohs are making their 13th appearance in men’s football at the Olympics, their fourth place in Tokyo 1964 being their best result at the Games so far.
They’ve reached the quarter-finals in their last two participations – in Tokyo 2020 and London 2012 – and have an experienced coach at the helm in Rogerio Micale, who guided Brazil to Olympic gold at Rio 2016.
Egypt qualified for Paris 2024 by finishing as runners-up in the U23 Africa Cup of Nations last year in Morocco, and they landed in Group C at these Olympics alongside the Dominican Republic, Spain and Uzbekistan.
“I think Egypt will go through to the second round,” former Egypt, Tottenham and Roma striker Mido told The National ahead of the Olympics.
“We have a couple of good young talents. And we have a good coach. Micale is well-organised, he won the gold medal with Brazil before at this age-group, so he’s a man with a lot of experience.
“We have four or five good players. We have players with huge potential. We have [Mohamed] Shehata, we have Hossam Abdelmaguid, we have Omar [Fayed, who plays for Fenerbahce and is on loan to Novi Pazar]. We have a good midfield. I like the team.”
With Liverpool refusing to release Salah, Turkish side Trabzonspor holding on to Mahmoud Trezeguet, and Nantes striker Mostafa Mohamed nursing a knee injury, Micale included just two over-age players in his under-23 squad, Elneny and Zamalek midfielder Ahmed “Zizo” Sayed, instead of the permitted three.
Micale also struggled to obtain any over-age players from domestic clubs due to the fact the Egyptian Premier League is still in session, with a fierce battle underway between Al Ahly and Pyramids FC at the top of the table.
On the eve of the final training camp for Egypt’s U23 team ahead of the Olympics, EPL clubs were in a standoff with the Egyptian Football Association over the release of players.
After initially agreeing to let their U23 players join the camp, Al Ahly were not pleased to learn Pyramids FC star Ibrahim Adel was reportedly given an exception to get some extra days with his club to help them in their domestic campaign before catching up with the Olympic squad.
Disagreements over release dates took over headlines and all sports talk shows on Egyptian television before matters were resolved with the intervention of the Minister of Sport.
Adel was named Best Player of the U23 Africa Cup of Nations last year and he’ll be one to watch from the Pharaohs squad at these Olympics. The 23-year-old winger scored a brace in Egypt’s 2-1 victory over Iraq in a friendly game last week. Egypt’s build-up to the Olympics also included a 1-1 draw with Ukraine.
“I think we’re building something important with this national team,” Brazilian coach Micale recently told fifa.com in an interview.
“Expectations are high. People believe we can bring a medal back, which won’t be easy because we’re in a tough group. We’re among the top 16 nations in the world, and we’re delighted to have achieved that first objective [of qualifying].
“Now we’re going to fight for the second, which is to set our sights high and win a medal. Everyone’s free to dream after all.”
Egypt Olympic squad
Goalkeepers: Hamza Alaa, Ali El Gabry, Mohamed Seha
Defenders: Mohamed Elmaghrabi, Ahmed Sayed, Mohamed Tarek, Karim El Dabees, Hossam Abdelmaguid, Ahmed Eid
Midfielders: Mohamed Hamdy, Ziad Kamal, Mohamed Elneny, Mohamed Shehata, Ahmed Koka, Omar Fayed, Ibrahim Adel, Mahmoud Saber, Ahmed “Zizo” Sayed, Ahmed Atef, Mostafa Saad
Forwards: Bilal Mazhar, Osama Faisal
Egypt’s Group C schedule at Olympics
Wednesday July 24 – 7pm (UAE time)
Egypt v Dominican Republic – La Beaujoire Stadium, Nantes
Saturday July 27 – 7pm
Uzbekistan v Egypt – La Beaujoire Stadium, Nantes
Tuesday July 30 – 7pm
Spain v Egypt – Bordeaux Stadium
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.
RESULTS
Welterweight
Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)
(Unanimous points decision)
Catchweight 75kg
Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)
(Second round knockout)
Flyweight (female)
Manon Fiorot (FRA) beat Corinne Laframboise (CAN)
(RSC in third round)
Featherweight
Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki
(Disqualification)
Lightweight
Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)
(Unanimous points)
Featherweight
Yousef Al Housani (UAE) beat Mohamed Fargan (IND)
(TKO first round)
Catchweight 69kg
Jung Han-gook (KOR) beat Max Lima (BRA)
(First round submission by foot-lock)
Catchweight 71kg
Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)
(TKO round 1).
Featherweight title (5 rounds)
Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
(TKO round 1).
Lightweight title (5 rounds)
Bruno Machado (BRA) beat Mike Santiago (USA)
(RSC round 2).
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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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Killing of Qassem Suleimani
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
