Egyptian prime minister Hisham Qandil has unveiled a new cabinet that retains military chief Field Marshal Hussein Tantawi as defence minister while giving the ruling Islamists and their allies several portfolios.
Egyptian prime minister Hisham Qandil has unveiled a new cabinet that retains military chief Field Marshal Hussein Tantawi as defence minister while giving the ruling Islamists and their allies several portfolios.
Egyptian prime minister Hisham Qandil has unveiled a new cabinet that retains military chief Field Marshal Hussein Tantawi as defence minister while giving the ruling Islamists and their allies several portfolios.
Egyptian prime minister Hisham Qandil has unveiled a new cabinet that retains military chief Field Marshal Hussein Tantawi as defence minister while giving the ruling Islamists and their allies severa

Morsi's cabinet strikes a dull thud


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CAIRO // President Mohammed Morsi of Egypt struck an unambitious tone yesterday with the announcement of a new cabinet that includes a host of technocrats and only a few Islamists.

And, according to analysts, the swearing-in ceremony was more important for what did not happen.

The cabinet chosen by Mr Morsi's prime minister, Hesham Kandil, retained several ministers from the previous government who had been appointed by the Supreme Council of the Armed Forces (Scaf). They included Field Marshal Hussein Tantawi, but there were fewer Islamists than expected.

Observers and members of new political parties in Egypt had higher hopes for the cabinet. But Mr Morsi, facing his own power struggles with the military, chose a more staid path by appointing relative unknowns from within the ranks of government.

"There will be no warm reception for this government because most of them are completely unknown, but it will not be received negatively either," said Hassan Nafaa, a professor of political science at Cairo University.

"Morsi has chosen at this moment to create a non-political government, which is a positive thing in our environment right now. There is no hegemony of the Muslim Brothers and the presence of Salafists is almost none."

The cabinet reflects Mr Morsi's background and character. An electrical engineer and long-time member of the Muslim Brotherhood, he entered the presidential race as a relative unknown with little charisma but narrowly won with the backing of the Brotherhood's extensive network.

The new cabinet is led by Hesham Kandil, a former water and irrigation minister who Mr Morsi appointed last week as his prime minister.

Several key ministers will stay on, including Momtaz Al Saeed as minister of finance, Mohamed Kamel Amr as foreign minister, and Field Marshal Tantawi, the head of the Scaf, as secretary of defence.

The re-appointment of Field Marshal Tantawi was viewed as a sign that Mr Morsi was still under intense pressure from the military and was choosing his fights carefully, rather than walking into a direct confrontation.

During a press conference yesterday, Mr Kandil defended the cabinet.

"The main principle, the main criterion, was competence," he said. "We should stop using such terms as them and us, and that this is a Christian, or a Copt, or a Muslim. All I see is Egyptians and citizens. We are the people's government; we do not represent any trend."

Several of the faces in the cabinet are not so new. Maj Gen Ahmed Gamaleddin, formerly of the Public Security Authority, was made minister of interior. Osama Kamel, the new minister of petroleum, was previously the head Egyptian Petrochemical Holding Company.

At least four ministers came from the ranks of the Muslim Brotherhood's Freedom and Justice Party: Mostafa Mosaad, minister of education; Tarek Wafiq, minister of housing; Salah Abdel Maqsood, minister of information, and Osama Yassin, minister of youth.

Part of the reticence of the president to form a more overtly political cabinet comes from the fact that Mr Morsi is facing his own power struggle as Egypt's first, freely elected president. The parliament, which was dominated by the Muslim Brotherhood's Freedom and Justice Party and the Salafist Al Nour Party, was dissolved after a decision from the country's supreme court in June by the Scaf.

The Scaf then issued an 11th hour constitutional addendum, giving itself legislative powers and stripping the presidency of some of its roles.

Mr Morsi made a half-hearted attempt to counter the move with a decree reconvening the dissolved parliament until new elections are held, but the Supreme Constitutional Court froze the decree. Several lawsuits regarding the committee rewriting the constitution and parliament are continuing, but it appears that Scaf's changes are likely to stick.

That has left Mr Morsi as arguably Egypt's least powerful president in history - with the exception of the placeholders who took over for short periods between the totalitarian regimes of Gamal Abdel Nasser, Anwar Sadat and Mubarak.

His greatest challenge is to make a positive impact on the lives of daily Egyptians. The task was made no easier by the outgoing, Scaf-appointed government, which made little headway in shoring up the crumbling economy.

Mr Morsi's cabinet appointments avoided controversy, but the question remains whether they are able to implement the Muslim Brotherhood's "renaissance" project for Egypt.

So far, the president has had a slow start. Aside from several high-profile foreign trips to Saudi Arabia and Ethiopia, his main achievement has been a public advocacy plan to clean the streets of Egypt - a worthy challenge, but a far cry from dealing with an unemployment rate above 12 per cent and some 40 per cent of the population living on less than US$2 (Dh7.3) a day.

The economic plan of the Freedom and Justice Party, which Mr Morsi chaired before stepping down to accept the presidency, is largely in favour of free-market policies, with an increased reliance on Islamic financial instruments.

Its core belief is that the economy needs to be reformed, not revolutionised: that stopping corruption and widening opportunities to private businesses will yield the growth the country needs.

Mr Kandil will hold a meeting with members of his government tomorrow to discuss the next steps on seeking an International Monetary Fund loan.

An IMF deal would help Egypt stave off a budget and balance of payments crisis and add credibility to economic reforms needed to restore the confidence of investors who fled the country after a popular uprising last year.

"We will have a meeting on Saturday headed by me to look into our next steps," Kandil said.

However, Egyptian history shows that this philosophy has not always been successful. In fact, the only ministers that made a difference to the economy were also part of the problem that led Mubarak's regime to collapse last year.

Mubarak's cabinets over his first 23 years struck a similar tone to Mr Morsi's new appointees. He brought aboard experts, engineers and professors who were adept at their chosen skill set and anything but visionary.

It was only in 2004, after the president gave his son Gamal more influence over the country's economic reforms, that a new group of controversial, businessmen ministers were appointed.

Their policies led to economic growth, but also a feeling that wealth was being distributed only among the country's elite while unemployment and poverty were growing.

That imbalanced environment created a charged backdrop in Egypt that helped spur hundreds of thousands of people to take to the streets over 18 days last year to protest against the regime.

Several of those ministers, including Yousef Boutros Ghali, the former finance minister, and Rachid Mohammed Rachid, the former minister of trade, are fugitives from Egyptian courts.

They have been sentenced in absentia for corruption crimes, but remain abroad and have claimed their innocence.

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The biog

Siblings: five brothers and one sister

Education: Bachelors in Political Science at the University of Minnesota

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Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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South Africa 175 and 252
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Dr Graham's three goals

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Long term

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Ballon d’Or (Men’s)
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Ballon d’Or Féminin (Women’s)
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Kopa Trophy (Best player under 21 – Men’s)
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Best Young Women’s Player
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Yashin Trophy (Best Goalkeeper – Men’s)
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Best Women’s Goalkeeper
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Men’s Coach of the Year
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Women’s Coach of the Year
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The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

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“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”

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“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”

Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre 

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Signs%20of%20%20%20%20%20%20%20heat%20stroke
%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A

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Defining head lice

Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.

Identifying lice

Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.

Treating lice at home

Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.

Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital

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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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1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Martin Sabbagh profile

Job: CEO JCDecaux Middle East

In the role: Since January 2015

Lives: In the UAE

Background: M&A, investment banking

Studied: Corporate finance

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