Supporters of Mohamed ElBaradei prepare to give him a hero's welcome at the Cairo airport yesterday.
Supporters of Mohamed ElBaradei prepare to give him a hero's welcome at the Cairo airport yesterday.
Supporters of Mohamed ElBaradei prepare to give him a hero's welcome at the Cairo airport yesterday.
Supporters of Mohamed ElBaradei prepare to give him a hero's welcome at the Cairo airport yesterday.

Warm welcome home for ElBaradei


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CAIRO // The former UN atomic energy chief, Mohamed ElBaradei, was greeted in Cairo airport last night by hundreds of boisterous supporters who chanted pro-reform slogans and called for him to run for president. Mr ElBaradei was on two occasions unable to leave the VIP lounge at the airport after his plane touched down from Vienna because of the crowds that gathered to celebrate his return.

The crowd sang the national anthem and chanted: "ElBaradei, you can't go back, we need you." Many held up placards with pictures of Mr ElBaradei or slogans reading: "ElBaradei for president of Egypt." "Hope is being born today," said one woman in her 40s who asked not to be named. "I came because I know with ElBaradei we will start a long journey that will entail a lot of struggle and effort, but we want to start it with him, and I came to tell him thank you and that we love him," said the woman whose son, a graduate in computer science, had to leave Egypt to find a job in his field.

"Egypt deserves much better than how things are these days." Among the crowd were political activists of all stripes, including the author Alaa El Aswany, George Ishaq, the head of the Kefaya movement, which opposes the presidency of current President Hosni Mubarak, and a number of Muslim Brotherhood members. Also there was Gamila Ismail, the wife of former political prisoner and current head of the opposition Al Ghad party, Ayman Nour.

Security in and around the airport was not as large as expected after security sources had said on Thursday that measures would be taken to prevent any "illegal demonstrations" by Mr ElBaradei's supporters at the airport. Mr ElBaradei, who was awarded the Nobel Peace Prize along with the IAEA in 2005, has repeatedly called for democratic change in Egypt since stepping down as the agency's head in November.

On the eve of his return, he reaffirmed his determination to "do everything I can for Egypt to advance toward democracy and economic and social progress". "I hope to be an instrument for change," the long-time international civil servant said in an interview with Egypt's Dream TV. "I am ready to throw myself into Egyptian political life on the condition that there are free elections, and the first step toward that would be a constitutional amendment under which I can be a candidate [for president] and others as well."

Hosni Mubarak, 81, the Egyptian president, will complete his fifth term in office next year and his son, Gamal, is often cited as his potential successor. The current constitution effectively bars an ElBaradei candidacy. It requires candidates to have been a leading member of a party, for at least one year, and the party must have been in existence for at least five years. Such is not the case with Mr ElBaradei.

And for him to run as an independent, he would have to be endorsed by at least 250 elected officials, including 65 members of the National Assembly, 25 members of the Consultative Council (senate) and 10 members of municipal councils. All those bodies are dominated by Mr Mubarak's ruling National Democratic Party. nmagd@thenational.ae * With additional reporting by Agence France-Presse

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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UAE currency: the story behind the money in your pockets
The years Ramadan fell in May

1987

1954

1921

1888

The team

Photographer: Mateusz Stefanowski at Art Factory 
Videographer: Jear Valasquez 
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory 
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat 
Photographer’s assistant: Sophia Shlykova 
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi 

 
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

ESSENTIALS

The flights 
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes. 
Where to stay 
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.

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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Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

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Emirates Cricket Board Women’s T10

ECB Hawks v ECB Falcons

Monday, April 6, 7.30pm, Sharjah Cricket Stadium

The match will be broadcast live on the My Sports Eye Facebook page

 

Hawks

Coach: Chaitrali Kalgutkar

Squad: Chaya Mughal (captain), Archara Supriya, Chamani Senevirathne, Chathurika Anand, Geethika Jyothis, Indhuja Nandakumar, Kashish Loungani, Khushi Sharma, Khushi Tanwar, Rinitha Rajith, Siddhi Pagarani, Siya Gokhale, Subha Srinivasan, Suraksha Kotte, Theertha Satish

 

Falcons

Coach: Najeeb Amar

Squad: Kavisha Kumari (captain), Almaseera Jahangir, Annika Shivpuri, Archisha Mukherjee, Judit Cleetus, Ishani Senavirathne, Lavanya Keny, Mahika Gaur, Malavika Unnithan, Rishitha Rajith, Rithika Rajith, Samaira Dharnidharka, Shashini Kaluarachchi, Udeni Kuruppuarachchi, Vaishnave Mahesh

 

 

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

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Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah

Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz 

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Destroyer

Director: Karyn Kusama

Cast: Nicole Kidman, Toby Kebbell, Sebastian Stan

Rating: 3/5 

UAE release: January 31 

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