Supporters of Egypt's ousted President Mohammed Morsi play ping pong at their camp in Nahda Square, near Cairo University in Giza, southwestern Cairo.
Supporters of Egypt's ousted President Mohammed Morsi play ping pong at their camp in Nahda Square, near Cairo University in Giza, southwestern Cairo.

Hope remains for protesters at pro-Morsi camp in Cairo



CAIRO// The sit-in at Nahda Square outside Cairo University is into its second month and the participants show no signs that they anticipate being driven out anytime soon.

In the heat of the afternoon yesterday, one man wielded a hammer to make some home improvements to a tent housing half a dozen snoozing young men. Securing a wooden beam across the already sturdy structure, he sank a row of nails into it and began hanging up spare pairs of trousers, shirts and sunhats.

At the entrance to the camp, which houses several thousand supporters of deposed president Mohammed Morsi, a truck drove in with more beams to reinforce the hundreds of makeshift tents.

Elsewhere, a ping-pong tournament was in full swing, paddles swinging a little slowly in the heat. Damp washing hung on a line.

Another group of young men wearing T-shirts saying "pro-democracy" in English and Arabic, with the Twitter-savvy addition of a hashtag, was reading the Quran. Children huddled together in a tent next to a vendor arranging bright plastic toys to tempt their mainly niqab-clad mothers.

In the tense atmosphere that has prevailed in Cairo since the military, led by Gen Abdel Fattah El Sisi, removed Mr Morsi on July 3, the interim authorities have promised numerous times to clear this camp and another larger one in the Nasr City area.

But yesterday, once again, the authorities seemed to have balked. Security officialstold reporters that a decision to surround the camps had been postponed after it was leaked to the media on sunday. A few soldiers in trucks outside the camp were sprawled as drowsily as the demonstrators.

"This place is not safe," said Mohammed Mabrouk, a 23-year-old dentist. "We already know that, we know that very well. But we have a goal and we want to achieve that."

For weeks, he and his friends have lived with the ebb and flow of rumours that soldiers will strike the camp, that the police will besiege it, that local residents will attack. But they insist they are ready for any onslaught, and that if they are killed, more will come to take their place.

"If you take people, arrest them and kill them, you will find more people here - and if not here, in other squares," he said. "Egypt has thousands of squares! The issue is not the square."

Hopes of a peaceful solution to the political stand-off were dashed last week when the interim government declared that two weeks of international mediation efforts had failed.

Ahmed Al Tayyeb, the grand imam the august religious institution Al Azhar, had called for negotiations between egypt's fragmented political factions to begin this week. brotherhood leaders have staunchly refused to participate.

Elsewhere, demonstrators marched alongside the Nile, waving pictures of Mr Morsi and calling for his return. State media reported that a judge announced that the former president, imprisoned since July 3, would be held for a further 15 days while investigations into his links with the palestinian group Hamas were carried out.

Despite the somnolent atmosphere at the at Nahda Square camp, there was plenty of anger among its residents. "I want to kill him - Sisi," declared Mustapha, 25, an accountant. Among his friends there was a roar of approval at the idea.

The protesters, drawn mainly from supporters of the Brotherhood, have been accused in Egyptian media of being terrorists and hoarding weapons, something they deny. "We want to kill him, but we cannot," said Mohammed Ezzat, 39, a businessman,

"The army leaders are so bad," he added, though he said the rank-and-file soldiers were "our comrades".

Still, Mr Ezzat anticipates that either soldiers or police will come to clear the camp eventually. What will happen if they shoot? "We will die," he said simply, to cheers from the boys in the pro-democracy T-shirts. "All the people here wish to die."

"Our relatives and partners and fathers and mothers will come ... to make a new revolution," he added. "It will not be finished."

afordham@thenational.ae

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Friday (UAE kick-off times)

Borussia Dortmund v Paderborn (11.30pm)

Saturday 

Bayer Leverkusen v SC Freiburg (6.30pm)

Werder Bremen v Schalke (6.30pm)

Union Berlin v Borussia Monchengladbach (6.30pm)

Eintracht Frankfurt v Wolfsburg (6.30pm)

Fortuna Dusseldof v  Bayern Munich (6.30pm)

RB Leipzig v Cologne (9.30pm)

Sunday

Augsburg v Hertha Berlin (6.30pm)

Hoffenheim v Mainz (9pm)

 

 

 

 

 

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
UAE currency: the story behind the money in your pockets
MATCH INFO

Tottenham 4 (Alli 51', Kane 50', 77'. Aurier 73')

Olympiakos 2 (El-Arabi 06', Semedo')

The years Ramadan fell in May

1987

1954

1921

1888

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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LIVERPOOL SQUAD

Alisson Becker, Virgil van Dijk, Georginio Wijnaldum, James Milner, Naby Keita, Roberto Firmino, Sadio Mane, Mohamed Salah, Joe Gomez, Adrian, Jordan Henderson, Alex Oxlade-Chamberlain, Adam Lallana, Andy Lonergan, Xherdan Shaqiri, Andy Robertson, Divock Origi, Curtis Jones, Trent Alexander-Arnold, Neco Williams

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