A participant in the unity march in Paris holds aloft a pencil in solidarity with the murdered journalists of Charlie Hebdo magazine. Photo: Stephane Mahe / Reuters
A participant in the unity march in Paris holds aloft a pencil in solidarity with the murdered journalists of Charlie Hebdo magazine. Photo: Stephane Mahe / Reuters

Unity march was against terror, which has no faith



Extremism takes many forms, from movements now active in the Arab world some years after the Arab Spring, to those in western societies that stage acts of violence such as the Charlie Hebdo attack.

Yousif Makki, writing in the Sharjah-based daily Al Khaleej, considers issues to do with social stability and the security provided by the state. He wrote that the state is responsible for a whole gamut of activities: “From planning and managing the relationship between members of the same society ... its resolutions are binding to all, regardless of controversy and disagreement.”

He went on to write: “The Arab Spring essentially touched five countries – Tunisia, Egypt, Libya, Yemen and Syria. It took the form of peaceful protests in the beginning. In Tunisia and Egypt, these resulted in the ousting of heads of state and the start of a transition period, one that was crowned with success in Tunisia but stumbled into another change and another transitional period in Egypt.

“The Muslim Brotherhood was active in all these countries. It took advantage of the social and political upheavals to try to take power, using peaceful and non-peaceful means. But Egypt prevented the Muslim Brotherhood from taking over and from achieving its goals.”

The transitional periods in Egypt and Tunisia did not lead the state to collapse, although both countries had to pay the price and withstand the extremism and terrorism of the Muslim Brotherhood, he wrote. “In the case of Libya, the ruling authority representing the state, and the rebels, who were known for their affiliation to Al Qaeda, both used violence,” he said, noting that foreign intervention led to the collapse of the regime and then of the Libyan state. In Syria and Yemen, by contrast, the state remained in existence, but with a weakened role.

“The militarisation of the Arab uprisings led to the spread of terrorism. Defeating it means making a distinction between revolution and terrorism, including rehabilitating the state as the entity that ensures security, stability and the future of the community,” he concluded.

In the pan-Arab daily Asharq Al Awsat, Shamsan Bin Abdullah Al Manai wrote that the terror attacks in Paris were the start of a new phase.

“Such acts were unknown to France for decades and this signifies that terrorism has reached a culmination point globally. No one expected France, the country of culture, freedom, peace and moderation to be hit by terrorism, right in its heart.”

Dubai-based Al Bayan editorialised that the unity march in Paris on January 11 reflected the denunciation of violence and terrorism generally.

“The march sent a clear message to extremist and militant groups that they must reconsider before planning or executing new crimes against civilians or any act threatening the stability of countries in the world and in the region”.

The remarkable feature of the march, the editorial concluded, was that it “stands against a terrorism that has no religion. It was against extremism and violence, regardless of its roots, regardless of its perpetrators.”

Translated by Carla Mirza

cmirza@thenational.ae

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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

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Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

MATCH INFO

Manchester United v Manchester City, Wednesday, 11pm (UAE)

Match is on BeIN Sports

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UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Starring: Eric Ruffin, Chloe Levine

Three stars