Egyptian women react to the military's 48-hour ultimatum for President Mohammed Morsi and opposition leaders to reach an agreement.
Egyptian women react to the military's 48-hour ultimatum for President Mohammed Morsi and opposition leaders to reach an agreement.
Egyptian women react to the military's 48-hour ultimatum for President Mohammed Morsi and opposition leaders to reach an agreement.
Egyptian women react to the military's 48-hour ultimatum for President Mohammed Morsi and opposition leaders to reach an agreement.

Egyptian army gives 48-hour ultimatum to Morsi


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CAIRO // Egypt's powerful military yesterday gave Mohammed Morsi a 48-hour deadline for "the people's demands to be met" as massive protests calling for the president to quit continued for a second day.

The military did not refer specifically to Mr Morsi and "put everyone on notice", but the tone and language of their statement put them clearly on the side of the "great people of Egypt".

The army said it would unilaterally announce a "road map for the future" if the situation is not resolved within its deadline.

The statement was read out live on television by the defence minister, Gen Abdel Fattah Al Sisi, and watched by tens of thousands of protesters in Tahrir Square in Cairo.

The crowds erupted in cheers and chanted pro-military slogans moments after the broadcast, which they saw as a victory in their bid to unseat Mr Morsi just one year after he took power in the the country's first democratic elections.

The Muslim Brotherhood, Mr Morsi's Islamist backers, said they were studying the army statement and their political bureau would meet to "decide on its position".

The first cracks in Mr Morsi's administration appeared last night when the ministers of tourism, environment, communication and legal affairs all resigned.

After a week of rival protests in which at least 14 people have been killed and hundreds injured, the military's intervention dramatically increased the pressure on Mr Morsi to make concessions or leave office.

Millions of people filled squares and streets on Sunday night, the anniversary of Mr Morsi's inauguration. Some observers said the numbers exceeded those in the protests that toppled the regime of Hosni Mubarak in 2011.

The military did not say what exactly a new "road map" would entail, but there is no doubt that Mr Morsi and his Islamist supporters are facing their biggest crisis since rising to power last year.

In the early hours of yesterday, protesters burnt and looted the Muslim Brotherhood's headquarters in the Cairo neighourhood of Mokattam. Other Brotherhood offices across the country have met the same fate over the past week, inspiring comparisons to the torching of Mubarak's National Democratic Party headquarters during the 2011 protests.

Security forces yesterday arrested 15 armed bodyguards of the Muslim Brotherhood's deputy leader Khairat El Shater after an exchange of fire.

The shootout took place when security forces went to arrest the guards for alleged unlawful possession of firearms they are suspected of having used to shoot at protesters attacking the Brotherhood's headquarters.

For weeks, the president's supporters have said the planned protests were the product of liberal propaganda and conspiracies from remnants of the Mubarak regime that were designed to turn the country against its first elected president. A senior Brotherhood official even suggested that counter demonstrations in support of the president might be bigger.

The president and the Brotherhood appeared caught off guard by the sheer size of the protests against them.

Late on Sunday, Mr Morsi's spokesman Omar Amer appeared surprised by the developments and renewed calls for dialogue.

"Groups who have demands must sit down to dialogue," he said. "We must stress that the issue of dialogue is not mere rhetoric as some claim it to be. The president has continuously said that he wanted everyone to listen to his initiative with the aim of holding serious national dialogue."

The National Salvation Front, an umbrella opposition group, responded with a call to protesters to "maintain their peaceful rallies in all the squares and streets and villages and hamlets of the country … until the last of this dictatorial regime falls".

The military's intervention yesterday recalled the 2011 uprising, when army top brass played a crucial role in pressuring Mubarak to resign. Though troops were ordered into the streets by Mubarak, the army refused to clash with protesters and instead created protective barriers around their gathering spots. The move - together with forceful statements by Gen Mohammed Hussein Tantawi, made without consulting the president - provided a powerful boost to the uprising.

When Mubarak stepped down, he handed power to the Supreme Council of the Armed Forces, a group of top generals. But they quickly lost the image they had built up during the 18 days of protests by cracking down on new protests and mishandling the country's political transitions. Analysts have pointed to the Scaf's mistakes as the origin of problems with elections and the writing of the constitution.

One of Mr Morsi's first controversial moves was to force several of Scaf's top generals to retire after failing to prevent an attack by militants on border soldiers in August 2012.

As anger grew against Mr Morsi's handling of the country, especially after he attempted to place his decisions above judicial review and rushed an Islamist-dominated constitution to vote, opposition groups softened on the military. Calls for them to force Mr Morsi out of office became more frequent starting in the spring, culminating in the latest protests with pro-military chants and placards saying "the people, the army and the police are one hand".

* Additional reporting by Reuters and Agence France-Presse

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Pakistan v New Zealand Test series

Pakistan: Sarfraz (c), Hafeez, Imam, Azhar, Sohail, Shafiq, Azam, Saad, Yasir, Asif, Abbas, Hassan, Afridi, Ashraf, Hamza

New Zealand: Williamson (c), Blundell, Boult, De Grandhomme, Henry, Latham, Nicholls, Ajaz, Raval, Sodhi, Somerville, Southee, Taylor, Wagner

Umpires: Bruce Oxerford (AUS) and Ian Gould (ENG); TV umpire: Paul Reiffel (AUS); Match referee: David Boon (AUS)

Tickets and schedule: Entry is free for all spectators. Gates open at 9am. Play commences at 10am

Profile

Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

Sector of operation: Transport

Stats at a glance:

Cost: 1.05 billion pounds (Dh 4.8 billion)

Number in service: 6

Complement 191 (space for up to 285)

Top speed: over 32 knots

Range: Over 7,000 nautical miles

Length 152.4 m

Displacement: 8,700 tonnes

Beam:   21.2 m

Draught: 7.4 m

UAE currency: the story behind the money in your pockets
Results:

Women:

1. Rhiannan Iffland (AUS) 322.95 points
2. Lysanne Richard (CAN) 285.75
3. Ellie Smart (USA) 277.70

Men:

1. Gary Hunt (GBR) 431.55
2. Constantin Popovici (ROU) 424.65
3. Oleksiy Prygorov (UKR) 392.30

The biog

Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.

Favourite book: Anything by Sidney Sheldon.

Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.

Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
RESULT

Esperance de Tunis 1 Guadalajara 1 
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’

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Step by step

2070km to run

38 days

273,600 calories consumed

28kg of fruit

40kg of vegetables

45 pairs of running shoes

1 yoga matt

1 oxygen chamber

Takreem Awards winners 2021

Corporate Leadership: Carl Bistany (Lebanon)

Cultural Excellence: Hoor Al Qasimi (UAE)

Environmental Development and Sustainability: Bkerzay (Lebanon)

Environmental Development and Sustainability: Raya Ani (Iraq)

Humanitarian and Civic Services: Women’s Programs Association (Lebanon)

Humanitarian and Civic Services: Osamah Al Thini (Libya)

Excellence in Education: World Innovation Summit for Education (WISE) (Qatar)

Outstanding Arab Woman: Balghis Badri (Sudan)

Scientific and Technological Achievement: Mohamed Slim Alouini (KSA)

Young Entrepreneur: Omar Itani (Lebanon)

Lifetime Achievement: Suad Al Amiry (Palestine)

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The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Match info

Uefa Champions League Group F

Manchester City v Hoffenheim, midnight (Wednesday, UAE)

The%20specs
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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

RESULTS

1.30pm Handicap (PA) Dh 50,000 (Dirt) 1,400m

Winner AF Almomayaz, Hugo Lebouc (jockey), Ali Rashid Al Raihe (trainer)

2pm Handicap (TB) Dh 84,000 (D) 1,400m

Winner Karaginsky, Tadhg O’Shea, Satish Seemar.

2.30pm Maiden (TB) Dh 60,000 (D) 1,200m

Winner Sadeedd, Ryan Curatolo, Nicholas Bachalard.

3pm Conditions (TB) Dh 100,000 (D) 1,950m

Winner Blue Sovereign, Clement Lecoeuvre, Erwan Charpy.

3.30pm Handicap (TB) Dh 76,000 (D) 1,800m

Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

4pm Maiden (TB) Dh 60,000 (D) 1,600m

Winner Bladesmith, Tadhg O’Shea, Satish Seemar.

4.30pm Handicap (TB) Dh 68,000 (D) 1,000m

Winner Shanaghai City, Fabrice Veron, Rashed Bouresly.

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.”

First-round leaderbaord

-5 C Conners (Can)

-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);

-2 C Morikawa (US), M Laird (Sco), C Tringale (US)

Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)

Level B DeChambeau (US), J Rose (Eng) 

1 L Westwood (Eng), J Spieth (US)

3 R McIlroy (NI)

4 D Johnson (US)

Results

6.30pm Al Maktoum Challenge Round-3 Group 1 (PA) US$100,000 (Dirt) 2,000m, Winner Bandar, Fernando Jara (jockey), Majed Al Jahouri (trainer).

7.05pm Meydan Classic Listed (TB) $175,000 (Turf) 1,600m, ​​​​​​​Winner Well Of Wisdom, William Buick, Charlie Appleby.

7.40pm Handicap (TB) $135,000 (T) 2,000m, ​​​​​​​Winner Star Safari, Mickael Barzalona, Charlie Appleby.

8.15pm Handicap (TB) $135,000 (D) 1,600m, Winner Moqarrar, Fabrice Veron, Erwan Charpy.

8.50pm Nad Al Sheba Trophy Group 2 (TB) $300,000 (T) 2,810m, Winner Secret Advisor, William Buick, Charlie Appleby.

9.25pm Curlin Stakes Listed (TB) $175,000 (D) 2,000m, ​​​​​​​Winner Parsimony, William Buick, Doug O’Neill.

10pm Handicap (TB) $135,000 (T) 2,000m, Winner Simsir, Ronan Whelan, Michael Halford.

10.35pm Handicap (TB) $175,000 (T) 1,400m, ​​​​​​​Winner Velorum, Mickael Barzalona, Charlie Appleby.

 

 

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

Our legal consultant

Name: Dr Hassan Mohsen Elhais

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

Leaderboard

15 under: Paul Casey (ENG)

-14: Robert MacIntyre (SCO)

-13 Brandon Stone (SA)

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-8 Thomas Detry (BEL), Justin Harding (SA), Justin Rose (ENG)

Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

Crazy Rich Asians

Director: Jon M Chu

Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan

Four stars