Members of Egypt's military supreme council attend a meeting  in this image taken from TV Thursday Feb. 10, 2011. President Hosni Mubarak will meet the demands of protesters, military and ruling party officials said Thursday in the strongest indication yet that Egypt's longtime president may be about to give up power and that the armed forces were seizing control. The military's supreme council was meeting Thursday, without the commander in chief Mubarak, and announced on state TV its "support of the legitimate demands of the people." (AP Photo/Nile TV via APTN)  EGYPT OUT TV OUT
Members of Egypt's military supreme council attending a meeting, shown on Egyptian TV today. President Hosni Mubarak will 'meet the demands of protesters', military and ruling party officials said.

Egypt's military steps in as Mubarak totters



Egypt's military said today it would respond to the "legitimate" demands of the people as President Hosni Mubarak's regime tottered in the face of massive nationwide protests demanding his overthrow.

Egyptian television interrupted all programming to present footage of a panel of senior military officers, one of whom read out a statement described as "communique number one" of the Supreme Council of the Armed Forces.

"In support of the legitimate demands of the people," the army "will continue meeting... to examine measures to be taken to protect the nation and its gains and the ambitions of the great Egyptian people," it said.

Mr Mubarak will "most probably" step down, an Egyptian official told Reuters after unprecedented nationwide protests against his 30-year rule. Asked if Egypt's president will step down, the official: "most probably"

The end of Mr Mubarak's reign has been the central demand of hundreds of thousands of people who have filled the country's streets in the two-week-old uprising.

The head of Mr Mubarak's ruling party, Hossam Badrawi had earlier told BBC the embattled president would "respond to the people's demands by tomorrow."

Mr Badrawi did not specify that he was referring to Mr Mubarak stepping down, but a senior military officer told AFP that troops were "awaiting orders that will make the people happy."

Tens of thousands of Egyptian workers went on strike on the eve of Friday's day of prayers, when pro-democracy groups had urged millions to turn out in what they hope will be the biggest show of defiance yet.

The strikes had swept private and public sector workplaces in cities across Egypt, labour unions said, as the opposition braved stark warnings from Mubarak's lieutenants that they could face a military crackdown.

In Cairo, some 3,000 health workers marched to join the anti-regime crowds that have blockaded parliament and occupied central Cairo's "liberated" Tahrir Square, symbolic centre of the popular revolt.

A security official confirmed union reports that thousands of employees in the public sector were staging strikes in the Mediterranean city of Alexandria, the canal city of Suez and elsewhere on the north coast and the Red Sea.

Union leader Kamal Abbas said that since nationwide rallies erupted on January 25 to demand an end to Mr Mubarak's rule, "we have started to hear of the billions of dollars that officials hold in personal accounts.

"So many employees feel it is time to stand up and demand their rights."

Workers at Egypt's largest factory, the Misr Spinning and Weaving textile plant, which employs 24,000 people in the Nile Delta, padlocked the buildings and massed in front of the administrative offices.

"We are striking first of all to show solidarity with the protesters in Tahrir Square," one strike organiser, Faisal Naousha, told AFP by telephone. "We also want court rulings lifting the minimum wage to be implemented."

Around 100 lawyers in suits and ties and "revolutionary" youth marched to the Abdeen presidential palace near Tahrir Square but were stopped by the army, at which point they knelt in afternoon prayers at a crowded intersection.

"This is a legitimate revolution. It is our right to bring down this corrupt regime," Mohammed Mursi, one of the lawyers, said.

The strikes broke out as both sides in Egypt's conflict toughened their rhetoric, with the vice-president, Omar Suleiman, and the foreign minister, Ahmed Abul Gheit, tacitly threatening to turn to the military to regain control.

"Long live Egypt! Down with Hosni Mubarak!" protesters chanted in the street outside parliament, now lined with makeshift shelters and anti-regime posters.

"If we don't die here we'll die in prison. I'd prefer to die here," said Attiya Abuella, 24, an unemployed graduate.

He said he was jailed last year for 60 days, spending hours with his wrists chained to the ceiling or naked in his cell, for taking photographs during legislative elections that were widely seen as rigged.

In Tahrir Square, volunteers have erected portable toilets, indicating the protesters have no intention of leaving the area, now a sprawling tent city with sound stages, food vendors and a mobile phone charging station.

Hundreds of protesters from a run-down slum in the canal city of Port Said torched the police headquarters and burned police cars before storming the province headquarters for the second time in two days, witnesses said.

On Wednesday, the unrest stretched as far as the remote oasis of Kharga, where at least five people were killed and 100 wounded when security forces opened fire on demonstrators, a security official told AFP.

Mr Mubarak, 82, has charged Mr Suleiman, his long-time spy chief, with drawing selected opposition groups into negotiations on democratic reform before elections due in September, when he has said he will step down.

Some groups have joined the talks, but one formerly loyal party, the left-wing Tagammu, dropped out today, and the crowds in Tahrir Square insist that Mr Mubarak must go before they will leave the central plaza.

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Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

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Round 1: Beat Leolia Jeanjean 6-1, 6-2
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Final: Beat Jasmine Paolini 6-2, 6-2

Tips for SMEs to cope
  • Adapt your business model. Make changes that are future-proof to the new normal
  • Make sure you have an online presence
  • Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
  • Open communication with customers to see how they are coping and be flexible about extending terms, etc
    Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
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1. Singapore
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5. Hong Kong
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7. UAE
8. Taiwan
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Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

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Liverpool 5

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Huddersfield 0

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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

Plan to boost public schools

A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.

It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.

Aspects of the school model will be extended to international private schools, the education minister has previously suggested.

Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.

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Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm

Thursday April 25:  Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm

Friday April 26: Finals, 3-6pm

Saturday April 27: Awards ceremony, 4pm and 8pm

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

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Company name: Fasset
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Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

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Dubai World Cup nominations

UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer

USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.

Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.

Victims of the 2018 Parkland school shooting

Alyssa Alhadeff, 14

Scott Beigel, 35

Martin Duque, 14

Nicholas Dworet, 17

Aaron Feis, 37

Jaime Guttenberg, 14

Chris Hixon, 49

Luke Hoyer, 15

Cara Loughran, 14

Gina Montalto, 14

Joaquin Oliver, 17

Alaina Petty, 14

Meadow Pollack, 18

Helena Ramsay, 17

Alex Schachter, 14

Carmen Schentrup, 16

Peter Wang, 15

Mica

Director: Ismael Ferroukhi

Stars: Zakaria Inan, Sabrina Ouazani

3 stars

Indika

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Publisher: Odd Meter
Console: PlayStation 5, PC and Xbox series X/S
Rating: 4/5

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara