Magdy Abdel-Hamid, spokesman of the Civil Democratic Movement, speaks during a news conference at the headquarters of the Egyptian Social Democratic Party in Cairo. Reuters
Magdy Abdel-Hamid, spokesman of the Civil Democratic Movement, speaks during a news conference at the headquarters of the Egyptian Social Democratic Party in Cairo. Reuters
Magdy Abdel-Hamid, spokesman of the Civil Democratic Movement, speaks during a news conference at the headquarters of the Egyptian Social Democratic Party in Cairo. Reuters
Magdy Abdel-Hamid, spokesman of the Civil Democratic Movement, speaks during a news conference at the headquarters of the Egyptian Social Democratic Party in Cairo. Reuters

Egyptian opposition states position on constitutional changes


Hamza Hendawi
  • English
  • Arabic

A coalition of leftist and secular parties on Wednesday declared their opposition to constitutional amendments that would potentially allow the country's general-turned-president to stay in office until 2034, saying it felt inclined to call on voters to reject them when they are put to a referendum.

The coalition's rejection of the proposed changes came just hours after Egypt's actors guild ordered the immediate expulsion of two prominent members – film stars Khaled Abul Naga and Amr Waked – accusing the pair of "committing high treason against the nation and the people" for lobbying US congressmen against the amendments.

"The union for actors declares the cancellation of the membership of the two. It also distances itself from what they have done and would like to emphasize that it will not tolerate anyone who betrayed his country among its members," the guild said in a statement late on Tuesday.

Mr Abul Naga is barely known outside Egypt and the Arab world, but Mr Waked's recognition goes well beyond that. He appeared in the 2005 hit Syriana, as well as 2011's Salmon Fishing in The Yemen, and 2014's Lucy.

Both actors were active participants in the 2011 uprising that toppled the regime of longtime ruler Hosni Mubarak. The pair, who live in exile abroad, are critical of the rule of President Abdel-Fattah El Sisi.

The union's harsh reaction to their lobbying in Washington is in line with the mood of pro-government media that has portrayed political contact with foreign powers outside official channels as tantamount to treason.

The proposed constitutional amendments are currently under discussion in parliament, a 596-seat chamber packed with supporters of the president that is virtually certain to adopt the changes. A nationwide referendum on the amendments will be held either next month or early in May when the government will likely seek to mobilise its vast resources to ensure a win for the "yes" vote.

"The amendments are unconstitutional and will enshrine dictatorship and authoritarian rule and end the chances of establishing a modern civilian state," the coalition said in a statement. "At any rate, the movement is inclined to accept the dominant view for active participation, going to the ballots and voting against the proposed amendments," it said, adding that it will monitor whether the political climate surrounding the vote would allow voters to freely express their will.

The amendments extend from four to six presidential terms, keep a two-term cap but introduce a new, "provisional" clause that allows Mr El Sisi, in power since 2014, to run for two, six-year terms when his current one ends in 2022. Mr El Sisi, whose rule is defined by his emphasis on stability and security, has not spoken in public about the amendments. They, however, could not have been proposed without the prior approval of the government.

Besides the presidential terms, the changes accord the military a political role as "guardian" of the state and its institutions. The move would formalise the army's domination of political life since officers seized power in a 1952 coup and later toppled the monarchy. The changes also empower the president to appoint top lawyers, create an upper chamber, or senate, and give women a 25 per cent quota in parliament.

Pro-government lawmakers led by speaker Ali Abdel-Al, a staunch supporter of the president, maintain that the proposed changes are vital to reform the country's political system. They say the 64-year-old Mr El Sisi has done so much for Egypt since taking office in 2014 that he deserves to be left at the helm until he completes the mega-infrastructure and development projects he has embarked on. These include building a new capital in the desert east of Cairo along with some dozen other new cities as well as a network of roads and bridges.

But those against the bill disagree.

"There is not a single person in Egypt who is indispensable," George Ishaq, a member of the opposition movement and a veteran political activist, told a news conference in downtown Cairo. "Egypt is full of people who can do anything."

Parliament on Wednesday resumed its "societal debate" on the proposed changes and several of the opposition leaders who addressed the news conference have been invited to participate. But one of them said their participation would likely prove to be no more than a formality, given that as many as 200 people were taking part in Wednesday's hearing.

"What kind of dialogue will that be with 200 participants?" asked Farid Zahran, leader of the Egyptian Social Democratic Party. "The whole thing is almost a formality, but I will go because if I don't they will claim that we reject a dialogue."

The processing of the amendments in parliament is taking place against a backdrop of a continuing crackdown on dissent that has over the past five years seen legal proceedings against thousands of Islamists and some of the iconic figures of the 2011 uprising.

Authorities have also silenced most critical voices in the media, restricted independent internet sites and the work of rights groups.

Mr El Sisi rejects repeated criticism of Egypt's human rights record under his watch, saying he is more focused on realising the rights of Egyptians to housing, medical care and education. His loyalists in the media insist that Egypt is at a state of war — security forces are battling Islamic militants in northern Sinai — and security must be placed ahead of all else.

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IPL 2018 FINAL

Sunrisers Hyderabad 178-6 (20 ovs)
Chennai Super Kings 181-2 (18.3 ovs)

Chennai win by eight wickets

Brown/Black belt finals

3pm: 49kg female: Mayssa Bastos (BRA) v Thamires Aquino (BRA)
3.07pm: 56kg male: Hiago George (BRA) v Carlos Alberto da Silva (BRA)
3.14pm: 55kg female: Amal Amjahid (BEL) v Bianca Basilio (BRA)
3.21pm: 62kg male: Gabriel de Sousa (BRA) v Joao Miyao (BRA)
3.28pm: 62kg female: Beatriz Mesquita (BRA) v Ffion Davies (GBR)
3.35pm: 69kg male: Isaac Doederlein (BRA) v Paulo Miyao (BRA)
3.42pm: 70kg female: Thamara Silva (BRA) v Alessandra Moss (AUS)
3.49pm: 77kg male: Oliver Lovell (GBR) v Tommy Langarkar (NOR)
3.56pm: 85kg male: Faisal Al Ketbi (UAE) v Rudson Mateus Teles (BRA)
4.03pm: 90kg female: Claire-France Thevenon (FRA) v Gabreili Passanha (BRA)
4.10pm: 94kg male: Adam Wardzinski (POL) v Kaynan Duarte (BRA)
4.17pm: 110kg male: Yahia Mansoor Al Hammadi (UAE) v Joao Rocha (BRA

Schedule:

Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
23 Oct, 5th ODI, Sharjah
26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore

Global Fungi Facts

• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

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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Recipe

Garlicky shrimp in olive oil
Gambas Al Ajillo

Preparation time: 5 to 10 minutes

Cooking time: 5 minutes

Serves 4

Ingredients

180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped

Method

Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.

Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.

Once the prawns turn pink, after 1 or 2 minutes of cooking,  remove from the heat and season with sea salt flakes.

Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.