Why can't a woman be an Arab president?
"Our Arab societies are patriarchal par excellence," columnist Zainab Hifni wrote in the Emirati newspaper Al Ittihad. "Rarely do you ever hear the question asked in earnest: 'What if we were governed by a woman?'" she wrote.
"The paradox is that women have never been that isolated from politics, and history bears witness to that. But most men prefer to doubt their merit; so they keep shouting their usual 'women are fragile' and 'lacking in reason and religious commitment'."
The issue resurfaced a few months ago when the Egyptian female author Anas el Wugood Alyouh announced on her Facebook page her intention to run for president. More recently Bouthaina Kamel, a radio reporter, expressed the same intention.
"Predictably, as soon as an Arab woman makes known her intention to run for office, the derision and the disdain break loose," the columnist said.
Even Egyptians forget, she wrote, that under Queen Hatshepsut's 20-year rule, ancient Egypt lived a golden age. In ancient Yemen, the Queen of Shebah was known for her wisdom and fair judgment. In Europe, Queen Victoria, who ruled over Britain for most of the 19th century, had that whole epoch named after her, in recognition of the importance of her reign.
Women must be given a chance; they may well be able to fix some of what men have ruined, the columnist concluded.
Syrian minister is still totally out of touch
As Bashar Al Assad's forces were ripping through Hama and other cities on Saturday, his foreign minister, Walid Al Muallem, was speaking in Damascus before Arab and foreign diplomats, trying to lay down forthcoming "reforms", wrote Tariq Al Homayed, editor of the pan-Arab newspaper Asharq Al Awsat.
Mr Al Muallem, whose pledge of "we will forget that Europe exists on the map" is still fresh in memory, now blames the failure of national dialogue on the Syrian opposition's "negativism", the editor noted.
"This is just another load of silly sophistry, and a confirmation that the Syrian regime is beyond repair."
Mr Al Muallem's rhetoric calls to mind the Egyptian comedy where one character slaps another across the face and then says: "What? He smacked my hand with his cheek."
"This couldn't be more relevant to Mr Al Muallem's case," the editor wrote. "He goes after an opposition that is suppressed by all sorts of weapons, but not after Mr Al Assad's regime, which is killing Syrians."
The Syrian regime is certainly starting to feel the heat, however immune to criticism it may be. But mounting international pressure, and more recently the strong statement from the Gulf Cooperation Council, must be bolstered by a pan-Arab stance, whose tardiness is becoming steadily more disgraceful.
Spectre of civil war looms over Yemen
"The drums of civil war are pounding at Yemen's doors," the Sharjah-based paper Al Khaleej said in its editorial yesterday. "Recent developments point straight in that direction."
There are bloody confrontations between the presidential guard and various tribes around the capital, near the Sanaa International Airport. There are similar fights between armed groups supporting the youth uprising and the presidential guard in Taaz. There are constant altercations between the latter and Al Qaeda-affiliated groups in Abyan province.
"It shouldn't be too hard to see the perils at hand," the paper said. "With the regime still placing its chips on military force to solve what is really a political crisis, fears that Yemen's peaceful revolution turn into an armed conflict are justified."
Besides, part of the army that defected with Maj Gen Mohsin Al Ahmar has coalesced with tribal leaders. Is it possible that half of the Yemeni army will fight against the other half? "The answer will have to be yes," Al Khaleej said.
For its part, the Dubai-based Al Bayan newspaper editorialised yesterday this way: "If the state of chaos and the irresponsible political freeze in Yemen persist, the country will end up in a spiral of conflicts, fanned by a constitutional vacuum that leaves the doors open to all forms of meddling with Yemen's sovereignty."
Is an 'Israeli Spring' also under way now?
Many Palestinians have grown to believe that Israel is gradually becoming a "complete" Middle Eastern country, one that is affected by change in its Arab neighbourhood, columnist Mazen Hammad wrote in the Qatari newspaper Al Watan.
Protests over housing prices and living costs that Israel has been seeing for weeks now are thought to be Israel's version of the Arab Spring. But the thought does not go any further; Arabs in general think protests in Israel are "imitative" not "complementary".
"Even if Israel becomes a genuine part of the Middle East, it will never become part of the Arab world," the columnist said.
Some Israelis see in the Arab Spring a reminder that Arab calls for their legitimate rights can be strident. "It is with awe and confusion, not to say apprehension, that Israelis watch millions of Arabs hit the streets," he added.
The "Palestinian element" is latent in all Arab revolutions, especially in Egypt, the columnist went on. A number of Egyptian protests after the revolution were about the opening of the Rafah crossing. Or they conveyed anger at the sale of Egyptian gas to Israel at a quarter of its market price.
Still, there is no telling if the full-blooded drive for rights in the Arab world will affect the Israeli stance on Palestine.
* Digest compiled by Achraf El Bahi
aelbahi@thenational.ae
The Kingfisher Secret
Anonymous, Penguin Books
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Brief scores:
Liverpool 3
Mane 24', Shaqiri 73', 80'
Manchester United 1
Lingard 33'
Man of the Match: Fabinho (Liverpool)
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
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.”
The%20specs
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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
BACK%20TO%20ALEXANDRIA
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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.