Turkish Prime Minister Recep Tayyip Erdogan meets with Pope Shenuda III, head of the Egyptian Coptic Orthodox Church, in Cairo on Septemper 14, 2011.  Erdogan, is on  a three-nation Arab Spring tour in Egypt, threw his weight behind Palestinian statehood during a keynote speech at the Arab League yesterday, bolstering his image as a regional leader.  AFP PHOTO/MOHAMMED HOSSAM 
 *** Local Caption ***  828818-01-08.jpg
Turkish prime minister Recep Tayyip Erdogan meets Pope Shenuda III, head of the Egyptian Coptic Orthodox Church, in Cairo yesterday. AFP PHOTO/MOHAMMED HOSSAM

Muslim Brotherhood hails Erdogan's stance against Israel



CAIRO // Turkey's prime minister, Recep Tayyip Erdogan, met Muslim Brotherhood leaders in Cairo on the second day of his "Arab Spring tour" yesterday, receiving praise for his position in an continuing diplomatic row with Israel.

After the talks, the Muslim Brotherhood leader, Mohammed Badie, praised Mr Erdogan's "brave stance" in the face of "Zionist insolence", saying that he had the admiration of the entire Arab and Muslim worlds.

Two weeks ago, Mr Erdogan's government expelled the Israeli ambassador after Israel refused to apologise for the death of nine activists during an Israeli raid on the flotilla. In speeches on Tuesday, Mr Erdogan repeatedly linked the death to Egypt's recent loss of six members of its security forces in an Israeli cross border operation.

Yesterday, Mr Erdogan was greeted by cheering crowds during his visit to the capital - part of a tour of countries that have recently overthrown autocratic rulers. Mr Erdogan arrived in Tunisia last night and will travel to Libya tomorrow.

Analysts say the visit is designed to strengthen Turkey's claim to become a regional leader and his recent tough stance on Israel has made him hugely popular in Egypt. Under the former president Hosni Mubarak Egypt was a dependable ally to Israel.

"All of Egyptians love Erdogan for his respect of Islam and the kindred losses Turkey and Egypt have suffered at Israeli hands," said Haneefi Al Ashi, a 56-year-old grocer.

With its Islamist roots and election success, Mr Erdogan's Justice and Development Party could act as a possible model for the Muslim Brotherhood and other political groups as they prepare for the first free elections in 30 years.

Though Mr Badie said Egypt should forge deeper ties with the Turkish government, his endorsement fell short of encouraging Mr Erdogan to take on the responsibility of shaping Egypt's transition to democracy.

In recent years, the Muslim Brotherhood, Egypt's main opposition group, has witnessed a widening split in the organisation along generational lines. Younger members, who tend to hold more moderate views, are likely to embrace Mr Erdogan's visit.

Mr Erdogan also met leaders of Egypt's uprising, Pope Shenuda III, head of the Egyptian Coptic Orthodox Church, and candidates for Egypt's presidential elections.

Some Egyptians remained unconvinced that the meetings would have a lasting effect on Egypt's political landscape without the country first voting a government into power.

"Maybe there's a change in how politics are made in this region of the world, but it is too early to make any judgement," said Ahmed Atef Fayed, 32, a psychiatrist.

"The leadership examples we will look to follow depend on what kind of government we elect. Naturally, with Turkey as a neighbour and a Muslim country, it is seen as a good mirror for ourselves."

During Mr Erdogan's speech at Cairo's Opera house on Tuesday evening he told Arab leaders that the uprisings in the region were a "light of hope" for the oppressed.

"His speeches are likely to empower civil society," said Emad Gad, an analyst at Al Ahram Center for Strategic Studies in Cairo, adding that meeting with political leaders such as the Muslim Brotherhood, has shown that Egypt's "political powers are ready to deal with Mr Erdogan as moderate, democratic powers".

Turkey is hoping Egyptian leaders can learn lessons from the "Turkish experience", said Theodore Karasik, the director of the Dubai based Institute for Near East and Gulf Military Analysis.

"I think Turkey is trying to capture the sentiment of the younger generation so the new Egypt will be a democratic state where Islamist parties can flourish," he said.

Mr Gad said closer economic and diplomatic ties with Mr Erdogan were unlikely to jeopardise Egypt's peace treaty with Israel.

"The government's response to the Israeli embassy attacks shows that Egypt is not going to hurt its ties with Israel, and it cannot change that relationship because of strategic partnerships with Turkey."

Mr Gad said that though Mr Erdogan is likely to be angling for a strategic alliance with Egypt that will place Turkey as a major regional player, it is unlikely the talks will create any actual change.

* With additional reporting by Agence France-Presse

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

RESULT

Arsenal 0 Chelsea 3
Chelsea: Willian (40'), Batshuayi (42', 49')

BeIN Sports currently has the rights to show

- Champions League

- English Premier League

- Spanish Primera Liga

- Italian, French and Scottish leagues

- Wimbledon and other tennis majors

- Formula One

- Rugby Union - Six Nations and European Cups

BAD BOYS: RIDE OR DIE

Director: Adil El Arbi and Bilall Fallah

Starring: Will Smith, Martin Lawrence, Joe Pantoliano

Rating: 3.5/5

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

TWISTERS

Director: Lee Isaac Chung

Starring: Glenn Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

MADAME WEB

Director: S.J. Clarkson

Starring: Dakota Johnson, Tahar Rahim, Sydney Sweeney

Rating: 3.5/5

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

MATCH INFO

BRIGHTON 0

MANCHESTER UNITED 3

McTominay 44'

Mata 73'

Pogba 80'

The Equaliser 2

Director Antoine Fuqua

Starring: Denzel Washington, Bill Pullman, Melissa Leo, Ashton Sanders

Three stars

Manchester United's summer dealings

In

Victor Lindelof (Benfica) £30.7 million

Romelu Lukaku (Everton) £75 million

Nemanja Matic (Chelsea) £40 million

Out

Zlatan Ibrahimovic Released

Wayne Rooney (Everton) Free transfer

Adnan Januzaj (Real Sociedad) £9.8 million

The Boy and the Heron

Director: Hayao Miyazaki

Starring: Soma Santoki, Masaki Suda, Ko Shibasaki

Rating: 5/5

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