Judge Ahmed Refaat's introductory remarks were so damning of Hosni Mubarak's regime, some in the courtroom thought that each of the 10 men in the defendants' cage was headed to the gallows - the ousted leader, his two sons, the ex-security chief, Habib El Adly, and six top police commanders.
They thought wrong.
Mr Refaat's 30-minute speech was filled with flowery Arabic, metaphors of darkness, bright days and winter nights. Fittingly, the courtroom fell silent as the judge delivered it, save for whispered words of approval.
"Allahu Akbar," or "God is Greatest, and "May God bless you" were among the most common comments.
But when Mr Refaat began to read out the verdicts, the reaction was starkly different from six lawyers who sat next to each other and hoisted small posters that read "Execution is God's verdict" and "Execution is the people's verdict".
Initially, the lawyers, like many others in the lecture hall used as a court, welcomed Mr Refaat's unequivocal condemnation of Mubarak's 29-year rule and his praise of the uprising that forced him to step down as president last year.
How could they not when the silver-haired Refaat seized the opportunity to sing his swan song before his retirement at the end of the month?
He said: "The people released a collective sigh of relief after a nightmare that did not, as is customary, last for a night but for almost 30 black, black, black years - darkness that resembled a winter night. They did not seek a luxurious life or to sit atop the world, but asked their politicians, rulers who sat on the throne of opulence, wealth and power to give them bread and clear water to satisfy their hunger and quench their thirst and to be in a home that shelters their families and the sons of the nation far from the rotten slums.
"They were chanting 'peaceful, peaceful' with their mouths while their stomachs were empty and their strength was failing ... They screamed ... 'rescue us and pull us from the torture of poverty and humiliation'."
Then on to the verdicts. Mubarak: life sentence. El Adly: life sentence, Alaa and Gamal Mubarak: acquitted. Six police commanders: acquitted.
The lawyers began to whisper a little louder. "May God exact revenge on you, Refaat," said one. "May God wreck your home, Refaat," another said.
The judge then went on to explain his verdicts. The law's statute of limitations had expired, which meant that Mubarak and his sons had to be acquitted of corruption charges. The lack of evidence meant that the six officers who were charged with complicity in the killing of protesters could not be convicted.
Mubarak and El Adly were sentenced to life in prison because they did not prevent the killings.
"The people want to purge the judiciary," lawyers for the victims' families shouted.
"To hell with Refaat," others said.
Mr Refaat left the bench unperturbed by the insults and screams.
So for many Egyptians the country's "trial of the century" has failed to bring justice.
In many ways, the verdict mirrored a multitude of court cases brought against policemen charged with killing protesters but which ended with their acquittal or in light sentences.
Mubarak's sons will remain in custody because they are awaiting trial on separate charges of insider trading
Even the life sentences imposed on Mubarak and El Adly, according to legal experts, could be overturned on appeal, thanks to Mr Refaat's assertion that the prosecution's case lacked evidence and the little it had offered had failed to satisfy the court.
Perhaps attesting to claims that Mubarak's legacy remains intact, most of the several hundred who attended the court session, held at a lecture hall in a police academy that once bore Mubarak's name, represented all branches of the police state the former leader allowed to flourish.
There were young police conscripts in plain clothes, uniformed policemen ranging from lieutenants in their early 20s to greying generals, and mysterious looking men in business suits with two-way radios treated with reverence by their uniformed colleagues.
Outside the academy, thousands of black-clad policemen were deployed, backed by armoured vehicles and dogs. More stringent security measures were in place, with careful searches carried out outside the complex. No one was allowed to take plastic water bottles into the courtroom, a measure that a police officer said was meant to stop anyone from tossing them at the bench.
Predictably, tens of thousands took to the streets in Cairo and elsewhere on Saturday initially to protest against the verdict but they ended up venting their anger and frustration over 15 months of what many see as the gross mismanagement by the ruling generals of the transitional period.
foreign.desk@thenational.ae
England Test squad
Joe Root (captain), Moeen Ali, James Anderson, Jonny Bairstow (wicketkeeper), Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Dawid Malan, Jamie Porter, Adil Rashid, Ben Stokes.
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY%20PROFILE%20
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Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
The%20specs%3A%202024%20Mercedes%20E200
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Zayed Sustainability Prize
UAE currency: the story behind the money in your pockets
Scorline
Iraq 1-0 UAE
Iraq Hussein 28’
Results
Stage three:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Tom Dumoulin (NED) Jumbo-Visma, at 14s
4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
5. Joao Almeida (POR) UAE-Team Emirates, at 22s
6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s
General Classification:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s
4. Tom Dumoulin (NED) Jumbo-Visma, at 14s
5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
6. Joao Almeida (POR) UAE-Team Emirates, at 22s
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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.”
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
%3Cp%3EFrom%20September%2018-25%2C%20Abu%20Dhabi%0D.%20The%20two%20finalists%20advance%20to%20the%20main%20event%20in%20South%20Africa%20in%20February%202023%0D%3Cbr%3E%20%0D%3Cbr%3EGroup%20A%3A%20United%20States%2C%20Ireland%2C%20Scotland%2C%20Bangladesh%0D%3Cbr%3EGroup%20B%3A%20UAE%2C%20Thailand%2C%20Zimbabwe%2C%20Papua%20New%20Guinea%0D%3Cbr%3E%20%0D%3Cbr%3EUAE%20group%20fixtures%3A%0D%3Cbr%3ESept%2018%2C%203pm%2C%20Zayed%20Cricket%20Stadium%20%E2%80%93%20UAE%20v%20Thailand%0D%3Cbr%3ESept%2019%2C%203pm%2C%20Tolerance%20Oval%20-%20PNG%20v%20UAE%0D%3Cbr%3ESept%2021%2C%207pm%2C%20Tolerance%20Oval%20%E2%80%93%20UAE%20v%20Zimbabwe%0D%3Cbr%3E%20%0D%3Cbr%3EUAE%20squad%3A%20Chaya%20Mughal%20(captain)%2C%20Esha%20Oza%2C%20Kavisha%20Kumari%2C%20Rinitha%20Rajith%2C%20Rithika%20Rajith%2C%20Khushi%20Sharma%2C%20Theertha%20Satish%2C%20Lavanya%20Keny%2C%20Priyanjali%20Jain%2C%20Suraksha%20Kotte%2C%20Natasha%20Cherriath%2C%20Indhuja%20Nandakumar%2C%20Vaishnave%20Mahesh%2C%20Siya%20Gokhale%2C%20Samaira%20Dharnidharka%0D%3C%2Fp%3E%0A
The%20specs
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Brief scores:
Day 1
Toss: South Africa, field first
Pakistan (1st innings) 177: Sarfraz 56, Masood 44; Olivier 4-48
South Africa (1st innings) 123-2: Markram 78; Masood 1-4