In many ways, the future of Egypt will be shaped by how the government and the majority of Egyptians treat the country's minority Christian community. Will Egypt be an open, tolerant and creative society? Or will it be closed and intolerant, looking backward?
A few months back, I accepted an invitation to speak at a mid-June conference organised by Coptic Solidarity, a US organisation. I did so because I was eager to address the challenges facing Egypt in general and its Coptic community in particular. A few days before the event, however, I received the final list of the conference speakers and the topics to be discussed. After reviewing the list, I felt obliged to cancel. What follows is what I had hoped to discuss at the event and why I found it necessary to inform the organisers I would not participate.
While I am not an “Egypt scholar”, I have visited the country dozens of times, conducted extensive polling of Egyptian public opinion, and, on several occasions, lectured at the Al Ahram Center for Political and Strategic Studies. Like any person of Arab descent, I love Egypt and its people and appreciate the enormous contributions Egyptians have made to Arab culture and world civilisation. I will never forget the expression Jesse Jackson often used to describe Egypt. He called it “an essential hinge on which hangs the future stability of three continents – Europe, Asia and Africa”.
What concerns me today is that the hinge is rusted and in danger of fracturing. Six years of turmoil following the upheavals of the Arab Spring have taken a toll on Egyptian society.
Six years ago, Egyptians told us that their top concerns were jobs, education, health care, and an end to corruption and nepotism. During the brief tenure of the Muslim Brotherhood’s rule, a decisive majority told us that they disapproved of that party’s efforts to transform Egypt. They wanted change, but decisively favoured national dialogue and reconciliation as the way forward. Today, three-quarters of Egyptians say they have little confidence that the future will be better. More ominous, our polling also shows demonstrably less tolerance and acceptance for people of other faiths.
All of this uncertainty and discontent has had repercussions for Egyptian society. Some supporters of the deposed Brotherhood have struck out at Christians, accusing them of complicity in the military action.
One can hardly fault the Coptic leadership. They were and are in a bind. The intolerant policies of the Brotherhood most certainly put them at risk. And while the significant gestures of the new government have indicated respect for Christians and offered them signs of protection, failure to improve the quality of life has only served to fuel greater discontent.
Feeding off this discontent, violent extremist groups have committed repeated heinous acts of terror against Christians in an effort to further aggravate the already deplorable situation. And so, we find the country today locked in a vicious cycle of repression and violence.
Friends of Egypt are also caught in a bind. Those who understand Egypt’s important role have attempted to buttress the state by providing substantial investment to develop its struggling economy. But they cannot, by themselves, force the government to make the right decisions and change direction.
This was the dilemma I had hoped to discuss at the Coptic Solidarity event and then, just a few days before the conference, I received the final programme and list of speakers. I was troubled to find that the session at which I was to appear had changed. I was prepared to address issues facing the Coptic community in Egypt and how we might act to support policies that both protect them now, while helping to move Egypt toward becoming a more open and tolerant society that respects the rights of all its citizens. Instead I discovered that the title for my session had been changed to “The Indigenous Culture of Violence and Impunity”, implying that there was something endemic in Egyptian or Muslim culture that was at fault.
While I knew and respected some of the event's invited speakers, I was deeply concerned with others, some of whom represent groups that are on the Southern Poverty Law Centre list of hate groups in America.
These are individuals and organisations that have made a career out of spreading hurtful anti-Arab and anti-Muslim propaganda. They do not work to promote positive change in Egypt and to help build a more open society that will protect the rights of all. Instead, they are more focused on waging a war on Muslims and Islam, in general.
Association with individuals and groups that fan the flames of hatred and division does not help protect vulnerable Christians in the Middle East. It may even put them at risk. I, therefore, felt compelled to withdraw from the event.
Dr James Zogby is president of the Arab American Institute
On Twitter: @aaiusa
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The biog
Favourite colour: Brown
Favourite Movie: Resident Evil
Hobbies: Painting, Cooking, Imitating Voices
Favourite food: Pizza
Trivia: Was the voice of three characters in the Emirati animation, Shaabiyat Al Cartoon
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Jebel Ali card
1.45pm: Maiden Dh75,000 1,400m
2.15pm: Handicap Dh90,000 1,400m
2.45pm: Maiden Dh75,000 1,000m
3.15pm: Handicap Dh105,000 1,200m
3.45pm: Maiden Dh75,000 1,600m
4.15pm: Handicap Dh105,000 1,600m
4.45pm: Handicap Dh80,000 1,800m
The National selections
1.45pm: Cosmic Glow
2.15pm: Karaginsky
2.45pm: Welcome Surprise
3.15pm: Taamol
3.45pm: Rayig
4.15pm: Chiefdom
4.45pm: California Jumbo
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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Results
2pm: Al Sahel Contracting Company – Maiden (PA) Dh50,000 (Dirt) 1,200m; Winner: AF Mutakafel, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
2.30pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,200m; Winner: El Baareq, Antonio Fresu, Rashed Bouresly
3pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson
3.30pm: Keeneland – Handicap (TB) Dh84,000 (D) 1,000m; Winner: Alkaraama, Dane O’Neill, Musabah Al Muhairi
4pm: Keeneland – Handicap (TB) Dh76,000 (D) 1,800m; Winner: Lady Snazz, Saif Al Balushi, Bhupat Seemar
4.30pm: Hive – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer
5pm: Dubai Real Estate Centre – (TB) Handicap Dh64,000 (D) 1,600m; Winner: Lahmoom, Royston Ffrench, Salem bin Ghadayer
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
