What do you do with a deposed dictator? It matters



The arrest of Hosni Mubarak, the former Egyptian president, and his sons, Alaa and Gamal, pushes the Arab revolutions into uncharted waters. In the past it has usually been expedient to let deposed leaders go into gilded exile, as was the case with King Farouk in 1952.

This has two advantages: it gets the old leader out of the way and allows the new regime to make a clean start. But times have changed. Arab populations have, quite rightly, higher expectations of justice and transparency these days.

They are also incensed by reports of billions of dollars stolen by the deposed first families. There is desire to get this money back, and these days there are mechanisms to find the missing millions, even though estimates of the Mubarak family's wealth of up to $70 billion are probably grossly exaggerated.

The demonstrators who have been pressing for the arrest of the former president can hardly believe their success. As one tweeted on Wednesday night, "Good night Egypt, today we sleep happy and then wake up to think about our other duties."

How far the process will go is still unclear. It is widely assumed that the army, which is running the country by decree until elections can be held, did not want to see its patron dragged through the courts. But the generals felt they had to throw a bone to the demonstrators who have been demanding the arrest of the former president for alleged abuse of power and the deaths of the 800 people who were killed as he defended his regime.

It is not clear whether Mr Mubarak will ever go on trial. In the last pictures taken of him in office, Mr Mubarak looks like a sick and slightly bewildered old man, and he is said to have heart trouble. It is quite possible that, given the slow pace of Egyptian justice, he will never face trial.

Whatever happens, a precedent has been set. The time has passed when autocrats can leave office with "dignity and prestige", as the embattled president of Yemen, Ali Abdullah Saleh, has pleaded to be allowed to do. The perverse effect of the heightened demand for justice is that presidents will be less likely to depart, raising the possibility of civil war.

Without wishing to go back to the times of sybaritic exile of King Farouk, the demands of justice must be tempered with expediency. The protesters in Cairo will regard this advice as a betrayal. If Egypt is going to become a law-based society where leaders are held accountable to the people, they say, then now is the time to start, by making an example of the Mubarak family.

Not surprisingly, they will reject any advice from abroad: since George W Bush and Tony Blair will not face any trial for invading Iraq, what right have these countries to offer advice on good governance?

A good starting point should be the South African example, where truth and reconciliation were put ahead of punishing the guilty for the crimes of apartheid. The principle of restorative justice is that truth, not vengeance, will set you free. Such a process in Egypt will have to be accompanied by the regime's cronies being stripped of their unfairly gained assets.

The conduct of this process will be a test of Egypt's governing structures. They must avoid repeating the disastrous experience of the post-Soviet government in Russia which, when facing bankruptcy, handed valuable assets to a new bunch of sharp-elbowed cronies. This poisoned politics for two decades.

The South African experience was based on a lengthy process during which the old regime recognised its days were numbered, and crucially on the appearance of Nelson Mandela, a unique politician who inspired trust across the racial divide. We do not see any Mandelas in Egypt today, but then the need is not so great: Egypt does not suffer from any great racial or ethnic divide and its geography is sanctioned by millennia.

But if we look at the members of the Arab League today, we see an alarming number of countries that are divided or ungovernable, with more joining the queue. Tunisia and Egypt will survive as states whatever path their revolutions take, but the same is not true of others.

Libya seems destined for partition between east and west. In Yemen, which barely held together in the good times, separatist militias are gaining ground as President Saleh calls troops back to the capital to defend his regime.

Somalia and the Palestinian Authority are already split; Sudan is on the way to splitting, with the south about to form an independent state, while Iraq is informally divided into Arab and Kurdish parts. Lebanon staggers on, always on the brink.

The big question is what is to happen with Syria. In the early 1950s, after a series of military coups and failed episodes of civilian government, Syria collapsed as a state. Members of parliament voted according to who paid the highest bribes. The officer class followed suit, hustling for subventions from Iraq, Egypt or Saudi Arabia. By 1958 Syria had lost its identity as an independent state and collapsed into a hasty union with Egypt.

The memory of this time still haunts Syria. The fear is that democracy will unleash a free-for-all among Syria's many sects and regional interests, fuelled by outside interference. This fear still provides a bedrock of backing for the Baath Party which, for all its failures in economic and social development, has kept a lid on the demons that destroyed the country in the 1950s.

The task for Egypt is to make a successful transition, balancing the needs of justice with the requirement for reconciliation and economic growth. If that is done, and it may take years, then the sometimes justified fear of political change in the Arab world may be finally allayed.

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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.

The specs: 2019 Audi A7 Sportback

Price, base: Dh315,000

Engine: 3.0-litre V6

Transmission: Seven-speed automatic

Power: 335hp @ 5,000rpm

Torque: 500Nm @ 1,370rpm

Fuel economy 5.9L / 100km

The specs

Price, base / as tested Dh1,100,000 (est)

Engine 5.2-litre V10

Gearbox seven-speed dual clutch

Power 630bhp @ 8,000rpm

Torque 600Nm @ 6,500rpm

Fuel economy, combined 15.7L / 100km (est) 

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year

Pupils in Abu Dhabi are learning the importance of being active, eating well and leading a healthy lifestyle now and throughout adulthood, thanks to a newly launched programme 'Healthy Lifestyle'.

As part of the Healthy Lifestyle programme, specially trained coaches from City Football Schools, along with Healthpoint physicians have visited schools throughout Abu Dhabi to give fun and interactive lessons on working out regularly, making the right food choices, getting enough sleep and staying hydrated, just like their favourite footballers.

Organised by Manchester City FC and Healthpoint, Manchester City FC’s regional healthcare partner and part of Mubadala’s healthcare network, the ‘Healthy Lifestyle’ programme will visit 15 schools, meeting around 1,000 youngsters over the next five months.

Designed to give pupils all the information they need to improve their diet and fitness habits at home, at school and as they grow up, coaches from City Football Schools will work alongside teachers to lead the youngsters through a series of fun, creative and educational classes as well as activities, including playing football and other games.

Dr Mai Ahmed Al Jaber, head of public health at Healthpoint, said: “The programme has different aspects - diet, exercise, sleep and mental well-being. By having a focus on each of those and delivering information in a way that children can absorb easily it can help to address childhood obesity."

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The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

Sri Lanka-India Test series schedule
  • 1st Test India won by 304 runs at Galle
  • 2nd Test India won by innings and 53 runs at Colombo
  • 3rd Test August 12-16 at Pallekele
The bio:

Favourite holiday destination: I really enjoyed Sri Lanka and Vietnam but my dream destination is the Maldives.

Favourite food: My mum’s Chinese cooking.

Favourite film: Robocop, followed by The Terminator.

Hobbies: Off-roading, scuba diving, playing squash and going to the gym.

 

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

 

 

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
RACE CARD

6.30pm: Al Maktoum Challenge Round-3 – Group 1 (PA) $65,000 (Dirt) 2,000m

7.05pm: Handicap (TB) $65,000 (Turf) 1,800m

7.40pm: Meydan Classic – Listed (TB) $88,000 (T) 1,600m

8.15pm: Nad Al Sheba Trophy – Group 3 (TB) $195,000 (T) 2,810m

8.50pm: Dubai Millennium Stakes – Group 3 (TB) $130,000 (T) 2,000m

9.25pm: Meydan Challenge – Listed Handicap (TB) $88,000 (T) 1,400m

How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

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The bio

Academics: Phd in strategic management in University of Wales

Number one caps: His best-seller caps are in shades of grey, blue, black and yellow

Reading: Is immersed in books on colours to understand more about the usage of different shades

Sport: Started playing polo two years ago. Helps him relax, plus he enjoys the speed and focus

Cars: Loves exotic cars and currently drives a Bentley Bentayga

Holiday: Favourite travel destinations are London and St Tropez

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

How The Debt Panel's advice helped readers in 2019

December 11: 'My husband died, so what happens to the Dh240,000 he owes in the UAE?'

JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.

“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”

November 26:  ‘I owe Dh100,000 because my employer has not paid me for a year’

SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue. 

SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."

October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'

MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.

“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December." 

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
While you're here ...

Damien McElroy: What happens to Brexit?

Con Coughlin: Could the virus break the EU?

Andrea Matteo Fontana: Europe to emerge stronger

Company%20Profile
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About Housecall

Date started: July 2020

Founders: Omar and Humaid Alzaabi

Based: Abu Dhabi

Sector: HealthTech

# of staff: 10

Funding to date: Self-funded

Specs – Taycan 4S
Engine: Electric

Transmission: 2-speed auto

Power: 571bhp

Torque: 650Nm

Price: Dh431,800

Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor

Transmission: 2-speed auto

Power: 455bhp

Torque: 700Nm

Price: from Dh431,800

Virtual banks explained

What is a virtual bank?

The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.

What’s the draw in Asia?

Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.

Is Hong Kong short of banks?

No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year. 

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

57%20Seconds
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The nine articles of the 50-Year Charter

1. Dubai silk road

2.  A geo-economic map for Dubai

3. First virtual commercial city

4. A central education file for every citizen

5. A doctor to every citizen

6. Free economic and creative zones in universities

7. Self-sufficiency in Dubai homes

8. Co-operative companies in various sectors

­9: Annual growth in philanthropy