CAIRO // Mohammed Hassan, 44, a vendor in central Cairo, said he had asked his teenage son how to use Facebook. "I'd heard of it but now everyone is talking about it, I feel like I'm missing out," he said.
Facebook, responsible for helping to mobilise many of the hundred of thousands who poured onto streets in Egypt and Tunisia to overthrow their presidents, has risen in the public consciousness and provoked curiosity among older people.
There are not yet statistics to show whether Egypt's revolution has caused others of Mr Hassan's age and older to venture online. But anecdotal evidence suggests it may have.
Naila Hamdy, a professor of journalism at the American University of Cairo, said: "From my online use I see older people exploring the internet and joining up to Facebook since the revolution,".
Statistics from Social Bakers, which tracks social media use, show Egypt's Facebook use increased from 4.6 millon accounts at the end of last year to 5.2 million on February 11, the day the former president Hosni Mubarak stepped down, and to 5.7 million today. Currently, only 11 per cent of Egypt's users are 35 or older, according to Social Bakers, with the majority of users between 18 and 24.
Individuals are not the only people to notice the power of social media. Authorities have turned to Facebook to better connect with the young men and women who drove the revolution.
The Higher Military Council, which now rules Egypt, set up a Facebook page. On March 3, it announced the former prime minister Ahmed Shafiq's resignation on the site, in a sign of how quickly social media is becoming institutionalised. Tunisia's interior ministry - much detested - has also started a Facebook page.
"People are not just signing up out of curiosity but also to voice their opinions," Ms Hamdy said.
Indeed, from a role in rallying people, the social media sites, along with the more traditional television, radio and print media, are now providing a forum for social debate as Egyptians push to transform the spirit of Tahrir Square into solid steps forward.
"In the past three weeks, vast numbers of groups have popped up online to discuss how we reshape the new Egypt," Lina Attalah, the managing editor of the English edition of the independent paper Al Masry Al Yowm, said. "The internet played a role in the run up to this revolution and is adapting to continue to do so."
The move to polish up internet credentials has not just been among older people. Veteran internet-users, motivated by the power of unity, have been reaching out to one another. "Suddenly people are making more connections online," said Ahmad Gharbeia, a self-employed computer expert and a member of the Arab Digital Expression Foundation who trains activists in internet use. "Everyone is becoming more organised and trying to merge disparate virtual groups with similar interests."
Similarly, people in other Arab countries are taking note. Increased online activity is evident in Syria, which lifted a three-year ban on Facebook last month. While the site was accessible by proxy before, internet cafe owners say they have noticed an increase use of the site.
Despite the potential for interactive debate, some commentators point to the dangers of excluding people from debate by relying too much on internet sites. Egypt's internet penetration is only about 21 per cent, according to the Internet World Stats website. This is higher than Syria's 18 per cent but far below Bahrain's 88 per cent. The rural and poor in Egypt have limited online access. And despite Facebook's organising potential, the revolution was driven by people on the streets, not online.
"Online sites will exclude those who aren't computer literate - but they won't be the only forum for debate," Ms Hamdy said. "Further, traditional media often take the lead from Facebook discussions and bring the debate to television, which is watched by all Egyptians."
More significant, Ms Hamdy said, are signals of an overhaul of offline media in post-revolution Egypt.
Private media outlets, which have proliferated in recent years, have long pushed the boundaries of state censorship. But since the revolution, they have vociferously touched subjects that were once taboo, such as the army. On March 2 the then prime minister Ahmed Shafik was given an unprecedented grilling on a television talk show, widely believed to have accelerated his departure.
"We are seeing a revolution in media freedoms," Ms Hamdy said. "I expect state media to disappear and be replaced by a raft of new independent media as this trend continues, which will attract more people."
This may be accelerated, as disillusonment with state news has spread among older people because of state media's poor coverage of the protests in Tahrir Square. Al Ahram, a pro-government weekly paper in Egypt, later issued an apology to readers for "unprofessional coverage" of the uprising.
"The hub in the last few years has been online as it was free, didn't require licences and could be done anonymously," Ms Attalah said. "More people are likely to go online now, but we will see more private media popping up which will also attract new audiences offline."
foreign.desk@thenational.ae
THE%20HOLDOVERS
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
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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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The Book of Collateral Damage
Sinan Antoon
(Yale University Press)
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
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
The specs
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Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.
The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.
All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.
No person who has received refuge in Poland will be sent back to a country torn by war.