Showing posts with label Egypt. Show all posts
Showing posts with label Egypt. Show all posts
Thursday, February 24, 2011
Friday, February 11, 2011
Mubarak Steps Down, Ceding Power to Military - NYTimes.com
Image via WikipediaMubarak Steps Down, Ceding Power to Military - NYTimes.comCAIRO — President Hosni Mubarak of Egypt turned over all power to the military and left the Egyptian capital for his resort home in Sharm el-Sheik, Vice President Omar Suleiman announced on state television on Friday.
The announcement, delivered during evening prayers in Cairo, set off a frenzy of celebration, with protesters shouting “Egypt is free!”
The Egyptian military issued a communiqué pledging to carry out a variety of constitutional reforms in a statement notable for its commanding tone. The military’s statement alluded to the delegation of power to Mr. Suleiman and it suggested that the military would supervise implementation of the reforms. Mr. Mubarak “has charged the high council of the armed forces to administer the affairs of the country,” he said in his statement.
David D. Kirkpatrick and Anthony Shadid reported from Cairo, and Alan Cowell from Paris. Reporting was contributed by Kareem Fahim, Liam Stack, Mona El-Naggar and Thanassis Cambanis from Cairo, and Sheryl Gay Stolberg from Marquette, Mich.
Tuesday, February 08, 2011
Sunday, February 06, 2011
Mubarak family fortune could reach $70bn, say experts | World news | guardian.co.uk
Image via WikipediaMubarak family fortune could reach $70bn, say experts | World news | guardian.co.ukEgyptian president has cash in British and Swiss banks plus UK and US property
President Hosni Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by Middle East experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast.
After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels.
According to a report last year in the Arabic newspaper Al Khabar, Mubarak has properties in Manhattan and exclusive Beverly Hills addresses on Rodeo Drive.
His sons, Gamal and Alaa, are also billionaires. A protest outside Gamal's ostentatious home at 28 Wilton Place in Belgravia, central London, highlighted the family's appetite for western trophy assets.
Amaney Jamal, a political science professor at Princeton University, said the estimate of $40bn-70bn was comparable with the vast wealth of leaders in other Gulf countries.
"The business ventures from his military and government service accumulated to his personal wealth," she told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain.
"This is the pattern of other Middle Eastern dictators so their wealth will not be taken during a transition. These leaders plan on this."
Al Khabar said it understood the Mubaraks kept much of their wealth offshore in the Swiss bank UBS and the Bank of Scotland, part of Lloyds Banking Group, although this information could be at least 10 years old.
There are only sketchy details of exactly where the Mubaraks have generated their wealth and its final destination.
Christopher Davidson, professor of Middle East politics at Durham University, said Mubarak, his wife, Suzanne, and two sons were able to accumulate wealth through a number of business partnerships with foreign investors and companies, dating back to when he was in the military and in a position to benefit from corporate corruption.
He said most Gulf states required foreigners give a local business partner a 51% stake in start-up ventures. In Egypt, the figure is commonly nearer 20%, but still gives politicians and close allies in the military a source of huge profits with no initial outlay and little risk.
"Almost every project needs a sponsor and Mubarak was well-placed to take advantage of any deals on offer," he said.
"Much of his money is in Swiss bank accounts and London property. These are the favourites of Middle Eastern leaders and there is no reason to think Mubarak is any different. Gamal's Wilton Place home is likely to be the tip of the iceberg."
Al Khabar named a series of major western companies that, partnered with the Mubarak family, generated an estimated $15m a year in profits.
Aladdin Elaasar, author of The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age, said the Mubaraks own several residences in Egypt, some inherited from previous presidents and the monarchy, and others the president has commissioned.
Hotels and land around the Sharm el-Sheikh tourist resort are also a source of Mubarak family wealth.
Saturday, February 05, 2011
China, Twitter and 20-Year-Olds vs. the Pyramids - NYTimes.com
China, Twitter and 20-Year-Olds vs. the Pyramids - NYTimes.com
By THOMAS L. FRIEDMAN
Anyone who’s long followed the Middle East knows that the six most dangerous words after any cataclysmic event in this region are: “Things will never be the same.” After all, this region absorbed the fall of the Berlin Wall and the rise of Google without a ripple.
But traveling through Israel, the West Bank and Jordan to measure the shock waves from Egypt, I’m convinced that the forces that were upholding the status quo here for so long — oil, autocracy, the distraction of Israel, and a fear of the chaos that could come with change — have finally met an engine of change that is even more powerful: China, Twitter and 20-year-olds.
Of course, China per se is not fueling the revolt here — but China and the whole Asian-led developing world’s rising consumption of meat, corn, sugar, wheat and oil certainly is. The rise in food and gasoline prices that slammed into this region in the last six months clearly sharpened discontent with the illegitimate regimes — particularly among the young, poor and unemployed.
This is why every government out here is now rushing to increase subsidies and boost wages — even without knowing how to pay for it, or worse, taking it from capital budgets to build schools and infrastructure. King Abdullah II of Jordan just gave every soldier and civil servant a $30-a-month pay raise, along with new food and gasoline subsidies. Kuwait’s government last week announced a “gift” of about $3,500 to each of Kuwait’s 1.1 million citizens and about $850 million in food subsidies.
But China is a challenge for Egypt and Jordan in other ways. Several years ago, I wrote about Egyptian entrepreneurs who were importing traditional lanterns for Ramadan — with microchips in them that played Egyptian folk songs — from China. When China can make Egyptian Ramadan toys more cheaply and appealingly than low-wage Egyptians, you know there is problem of competitiveness.
Egypt, Jordan, Yemen, Tunisia today are overflowing with the most frustrated cohort in the world — “the educated unemployables.” They have college degrees on paper but really don’t have the skills to make them globally competitive. I was just in Singapore. Its government is obsessed with things as small as how to better teach fractions to third graders. That has not been Hosni Mubarak’s obsession.
I look at the young protesters who gathered in downtown Amman today, and the thousands who gathered in Egypt and Tunis, and my heart aches for them. So much human potential, but they have no idea how far behind they are — or maybe they do and that’s why they’re revolting. Egypt’s government has wasted the last 30 years — i.e., their whole lives — plying them with the soft bigotry of low expectations: “Be patient. Egypt moves at its own pace, like the Nile.” Well, great. Singapore also moves at its own pace, like the Internet.
The Arab world has 100 million young people today between the ages of 15 and 29, many of them males who do not have the education to get a good job, buy an apartment and get married. That is trouble. Add in rising food prices, and the diffusion of Twitter, Facebook and texting, which finally gives them a voice to talk back to their leaders and directly to each other, and you have a very powerful change engine.
I have not been to Jordan for a while, but my ears are ringing today with complaints about corruption, frustration with the king and queen, and disgust at the enormous gaps between rich and poor. King Abdullah, who sacked his cabinet last week and promised real reform and real political parties, has his work cut out for him. And given some of the blogs that my friends here have shared with me from the biggest local Web site, Ammonnews.net, the people are not going to settle for the same-old, same-old. They say so directly now, dropping the old pretense of signing antigovernment blog posts as “Mohammed living in Sweden.”
Jordan is not going to blow up — today. The country is balanced between East Bank Bedouin tribes and West Bank Palestinians, who fought a civil war in 1970. “There is no way that the East Bankers would join with the Palestinians to topple the Hashemite monarchy,” a retired Jordanian general remarked to me. But this balance also makes reform difficult. The East Bankers overwhelmingly staff the army and government jobs. They prefer the welfare state, and hate both “privatization” and what they call “the digitals,” the young Jordanian techies pushing for reform. The Palestinians dominate commerce but also greatly value the stability the Hashemite monarchy provides.
Egypt was definitely a wake-up call for Jordan’s monarchy. The king’s challenge going forward is to convince his people that “their voices are going to be louder in the voting booth than in the street,” said Salah Eddin al-Bashir, a member of Jordan’s Senate.
As for Cairo, I think the real story in Egypt today is the 1952 revolution, led from the top by the military, versus the 2011 revolution, led from below by the people. The Egyptian Army has become a huge patronage system, with business interests and vast perks for its leaders. For Egypt to have a happy ending, the army has to give up some of its power and set up a fair political transition process that gives the Egyptian center the space to build precisely what Mubarak refused to permit — legitimate, independent, modernizing, secular parties — that can compete in free elections against the Muslim Brotherhood, now the only authentic party.
If that happens, I am not the least bit worried about the Muslim Brotherhoods in Jordan or Egypt hijacking the future. Actually, they should be worried. The Brotherhoods have had it easy in a way. They had no legitimate secular political opponents. The regimes prevented that so they could tell the world it is either “us or the Islamists.” As a result, I think, the Islamists have gotten intellectually lazy. All they had to say was “Islam is the answer” or “Hosni Mubarak is a Zionist” and they could win 20 percent of the vote. Now, if Egypt and Jordan can build a new politics, the Muslim Brotherhood will, for the first time, have real competition from the moderate center in both countries — and they know it.
“If leaders don’t think in new ways, there are vacancies for them in museums,” said Zaki Bani Rsheid, political director of Jordan’s Islamic Action Front, the Muslim Brotherhood’s political arm. When I asked Rsheid if his own party was up for this competition, he stopped speaking in Arabic and said to me in English, with a little twinkle in his eye: “Yes we can.”
I hope so, and I also hope that events in Egypt and Jordan finally create a chance for legitimate modern Arab democratic parties to test him.
The Evil Fruit of American Evangelical Christianity - Rachel Maddow reports on the murder of Ugandan gay activist David Kato and the role of American evangelicals in spreading violent hate to Uganda. Noted is the ability of the U.S. government to apply financial pressure to ensure Kato's work was not in vain.
Friday, February 04, 2011
Wednesday, February 02, 2011
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