Egypt's army threw President Hosni Mubarak a lifeline on Friday, endorsing his plan to stay in office until September even as hundreds of thousands of angry protesters took back to the streets.
Demonstrators sobbed as they conducted the weekly Muslim in massed ranks in Cairo's Tahrir Square. The preacher choked up as he gave the sermon and the crowd screamed "Leave! Leave!" at each mention of the hated strongman.
In a statement read out on state television a little earlier, the military said it would guarantee that Mubarak follow through with his promises to reform the constitution to ensure a fair presidential poll in September.
But the protesters had wanted the army to go much further and unseat the 82-year-old autocrat, who has ceded unspecified powers to his vice president but refuses to quit despite weeks of demonstrations against his 30-year rule.
The military's decision could provoke a dangerous confrontation between the troops and protesters, who are already livid that Mubarak failed to announce his resignation in an address to the nation on Thursday night.
The army's Supreme Council had raised the hopes of many ahead of Mubarak's televised address, announcing they would act "in support of the legitimate demands of the people" and "take steps to protect the nation."
But Friday's announcement, read aloud on state television, suggested the military has now thrown its weight behind Mubarak and the concessions he has so far offered in a bid to calm the revolt.
The army also vowed to lift the much-criticised emergency law in force since Mubarak's predecessor was assassinated in 1981, but only "as soon as the current circumstances are over."
It also said it was committed to "safeguarding the legitimate demands of the people and will work to implement them ... for a peaceful transition of power and a free democratic society."
The council stressed it would not arrest protesters, but warned against any "harm to the safety and security of the nation" and it urged striking state employees to head back to work.
Outside the presidential palace, protesters reacted furiously to the military's announcement, which was read to the crowd by a colonel.
One demonstrator grabbed his microphone to berate the military. "You have disappointed us, all our hopes rested in you," he shouted, as the crowd began to chant slogans calling for Mubarak to be put on trial.
"No, no, this is not a coup," the colonel protested, insisting that the army would not take power itself.
In Tahrir Square, the epicentre of the daily protests in central Cairo, several kilometres (miles) away, hundreds of thousands of protesters packed in for the Friday prayer, galvanised by fury at Mubarak's refusal to step down.
In a show of solidarity in at least lower levels of the army, three Egyptian officers shed their weapons and uniforms and joined the protesters.
An impassioned preacher addressed the military in his sermon, exhorting them to "act in a way that will be acceptable to God on judgement day," shortly before fainting and being carried away through the crowd.
On Thursday night, hundreds of thousands had crowded into Tahrir to hear a speech that was widely expected to be Mubarak's last as president.
Instead, he delegated some of his powers to his ally and Egypt's former intelligence supremo, Omar Suleiman, while vowing he would stay in office until September and one day die in Egypt, ruling out a flight into exile.
His hotly anticipated declaration wrong-footed world leaders and enraged demonstrators.
Tahrir Square, earlier a scene of partying and celebration ahead of the expected resignation, erupted in anger, with protesters waving their shoes in disgust, even before Mubarak finished his televised address.
Campaigners have called for Friday to see the biggest protests yet. Hundreds of thousands -- perhaps millions -- were expected to march after the main weekly Muslim prayers.
Some protesters have suggested escalating the campaign by marching into their thousands to the heavily fortified presidential compound or the state television building, which would increase the risk of clashes.
"I think today we have to go to the palace. Here in Tahrir, this is endless," 60-year-old Abdul Aziz Habib, a factory owner, told AFP.
Despite the grimly defiant mood, protesters found lighter ways to express their anger at Mubarak. In the middle of Tahrir, someone had drawn a giant outline of a donkey on the ground.
Inside the drawing a caption read: "We received your message and we know that you are a donkey."
Mubarak was also on a collision course with the international community, and in particular Egypt's key ally and donor, Washington.
In his speech on Thursday, he took a swipe at the United States and other countries that want a faster transition to democracy in the Arab world's most populous nation, vowing: "I have never bent to foreign diktats."
US President Barack Obama reacted with a flash of anger of his own, saying Mubarak had failed to map out "meaningful or sufficient" change, or to speak clearly enough to Egypt and the world.
Scoreline
Real Madrid 1
Ronaldo (53')
Atletico Madrid 1
Griezmann (57')
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Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
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A German university was a good fit for the family budget
Annual fees for the Technical University of Munich - £600
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As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640
Students are permitted to withdraw £720 per month
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Three stars
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City's slump
L - Juventus, 2-0
D - C Palace, 2-2
W - N Forest, 3-0
L - Liverpool, 2-0
D - Feyenoord, 3-3
L - Tottenham, 4-0
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L - Sporting, 4-1
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The Baghdad Clock
Shahad Al Rawi, Oneworld
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
From Zero
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Label: Warner Records
Number of tracks: 11
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England v South Africa Test series:
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Second Test: at Trent Bridge, South Africa won by 340 runs
Third Test: at The Oval, July 27-31
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The specs: 2017 Porsche 718 Cayman
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UAE currency: the story behind the money in your pockets
Leading all-time NBA scorers
Kareem Abdul-Jabbar 38,387
Karl Malone 36,928
Kobe Bryant 33,643
Michael Jordan 32,292
LeBron James 31,425
Wilt Chamberlain 31,419
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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Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Mohammed bin Zayed Majlis
TALE OF THE TAPE
Floyd Mayweather
- Height
- Weight
- Reach
- Record
Conor McGregor
- Height
- Weight
- Reach
- Record
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The Al Barzakh Festival takes place on Wednesday and Thursday at 7.30pm in the Red Theatre, NYUAD, Saadiyat Island. Tickets cost Dh105 for adults from platinumlist.net
Brave CF 27 fight card
Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)
Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)
Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)
Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)
Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)
Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)
Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)
Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)
Rock in a Hard Place: Music and Mayhem in the Middle East
Orlando Crowcroft
Zed Books
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
South and West: From a Notebook
Joan Didion
Fourth Estate