Business partners of Egypt’s ruling party have started to take their money out of the country, according to Bloomberg. Ethiopia’s super rich who are looting the country in partnership with the Woyanne ruling junta have been doing that for a while now. We have previously reported (read here) about one of them, Samuel Tafesse, who has recently built a $5-million mansion in a suburb of Washington DC. Most of the Woyanne leaders are currently on a property buying frenzy in the U.S. and Europe.
Egypt’s Super-Rich Begin Moving Their Money To Switzerland
(Bloomberg) — Egypt’s rich are considering taking money out of the country as violent protests against President Hosni Mubarak enter a 10th day, and Switzerland is a popular destination, a Swiss-based Arab banker said today.
“We’ve been getting inquiries about moving money” from Egypt to the Alpine nation, said Karim al-Korey, an associate director at Arab Bank (Switzerland) Ltd. “I have two or three clients who could transfer 10 to 15 million dollars each.”
Two Arab Bank (Switzerland) executives sent an emailed statement disputing al-Korey’s comments after they were published, saying he was not authorized to speak publicly for the firm.
His comments as published do “not represent the official position of the bank,” wrote Alain Dargham, the head of investment advisory, and Jean Kamitsis, head of wealth management. “We formally deny the content.”
Protests against Mubarak have left about 300 people dead and hundreds more injured in the past two weeks. Egypt’s ruler has replaced ministers and promised free elections before stepping down in September. That hasn’t calmed protesters who say his 30-year presidency must end immediately.
“Everything in Egypt is now closed but we think banks could start to reopen on Sunday. If this is the case, we expect funds to come in,” al-Korey told Bloomberg by telephone from his Geneva office. If Mubarak goes, “people all over the region will get scared and start transferring money.”
Frozen Assets
Switzerland on Jan. 19 froze any assets belonging to Tunisia’s ousted President Zine El Abidine Ben Ali and his entourage. Ben Ali fled to Saudi Arabia after a popular revolt ended his 23-year rule.
Most Egyptians close to Mubarak aren’t worried that their funds will be seized abroad and still see Switzerland as the safest haven, al-Korey said.
“There is a fear but only for a very few people,” the banker said. “You are talking about Mubarak, his sons, and Ahmed Ezz, the richest man in Egypt, as well as maybe 10 or 15 of the top businessmen.”
Ezz, chairman of Ezz Steel, was among the businessmen ousted from cabinet and ruling party positions yesterday. UBS AG and Credit Suisse Group AG, Switzerland’s biggest banks, declined to comment on possible movements of funds from Egypt.
Protesters in Sudan regrouped and launch another protest today after the security forces savagely attacked and dispersed them last week. The following is by Reuters:
(Reuters) — Police beat and teargassed students protesting in Sudan’s Sennar state, the latest in a series of short-lived demonstrations partly inspired by uprisings in Tunisia and Egypt, witnesses said.
Around 200 students, protesting against price rises and calling for change, tried to rally outside Sennar university on Thursday afternoon, before officers moved in with batons and then surrounded the compound, witnesses told Reuters.
Sudan has used armed riot police to disperse a series of demonstrations by young Sudanese across the north of the country in recent weeks.
Protests earlier last month focused on food prices and human rights abuses and broadened to include calls for political change after images of massed protests in Cairo, Tunis and other cities were broadcast across the world.
The protests, many around universities, have so far not been supported by wider parts of the population and have failed to gain momentum.
Also on Thursday police arrested dozens of people near the scene of a planned protest in the capital’s Khartoum North suburb, said witnesses. The demonstration, which had been publicized on the internet, did not take place.
Police set up road blocks in and around Khartoum to search cars and lorries overnight. A Reuters witness saw officers even checking inside bags of vegetables in one vehicle on the road from Khartoum to the town of Kosti.
No one was immediately available to comment from Sudan’s police on Friday, the start of the weekend in Sudan.
Sudan is facing an economic crisis marked by soaring inflation. It is also vulnerable politically after the south of the country — the source of most of its oil — voted overwhelmingly to secede last month.
PRESS RELEASE
Introducing the ETHIOPIAN HERITAGE SOCIETY OF NORTH AMERICA
The Ethiopian Heritage Society of North America “EHSNA” Board is proud to announce the formation of the Ethiopian Heritage Society of North America a 501(c)(3) organization. EHSNA’s primary mission and vision is to promote, and preserve the rich heritage and traditions of our Ethiopian ancestors. EHSNA seeks to develop a strong link among the new generation of Ethiopians born and raised in the Diaspora, and to introduce our historical and cultural heritage to the Larger Community in our adopted country.
EHSNA plans to execute its stated mission and goal, among other measures, by holding an annual Ethiopian heritage week in Washington DC every summer that will attract Ethiopians and friends of Ethiopia from over the world. Accordingly, EHSNA will host “Ethiopian Heritage Festival” to be celebrated annually on the first week of July. The festival will showcase the historical, cultural, artistic, athletic and culinary treasures, creativity and talent of our community at large. This will be achieved through the sponsorship of lecture series, stage productions, art exhibits, sporting events and the recognition of past and new achievements within the Ethiopian community both in the Diaspora & Ethiopia. EHSNA aims to bring together Ethiopians from all walks of life residing in North America and connect various Ethiopian organizations annually to amplify our rich culture.
EHSNA embraces values and celebrates Ethiopia’s wealth of cultural and philosophical diversities. EHSNA believes our common goals can only be accomplished through working together as individuals and groups. EHSNA encourages amicable, honest and respectful dialogue as the best way of addressing seemingly complex issues facing our society. EHSNA aspires to build open and trusting relationships within our community to advance excellence as a means of building a strong and viable community with a United Voice to become the master of our own destiny and to leave our footprints as we Celebrate and Discover Ethiopia. Furthermore, EHSNA strives to create role models for the new generation of Ethiopian youth.
We are aware our mission and goals are vast, our aspirations are high, and we accept our limitation to execute our stated objectives without the active involvement of our community. Therefore, we request the assistance, expertise, resources and support from members of our community to make this new organization a success. We call upon, and invite all Ethiopians and friends of Ethiopia to join us in making the upcoming Ethiopian Heritage Festival in Washington D.C. a success and reflective of our stated mission and goals.
If you are interested in knowing more about EHSNA, volunteering, or joining us, you are invited to visit our website: ethiopianheritagesociety.org. Please direct your inquiries through our interactive website.
The United States Senate has passed a resolution by unanimous vote on Thursday calling on Egypt President Hosni Mubarak to transfer power to a caretaker government. The resolution was authored by Senators John McCain and John Kerry. Read the full text below.
IN THE SENATE OF THE UNITED STATES
RESOLUTION
Mr. KERRY (for himself and Mr. MCCAIN) submitted the following resolution:
Supporting democracy, universal rights, and the peaceful transition to a representative government in Egypt.
Whereas the United States and Egypt have long shared a strong bilateral relationship;
Whereas Egypt plays an important role in global and regional politics as well as in the broader Middle East and North Africa;
Whereas Egypt has been, and continues to be, an intellectual and cultural center of the Arab world;
Whereas on January 25, 2011, demonstrations began across Egypt with thousands of protesters peacefully calling for a new government, free and fair elections, significant constitutional and political reforms, greater economic opportunity, and an end to government corruption;
Whereas on January 28, 2011, the Government of Egypt shut down Internet and mobile phone networks almost entirely and blocked social networking websites;
Whereas on January 29, 2011, President Hosni Mubarak appointed Omar Suleiman, former head of the Egyptian General Intelligence Directorate, as Vice President and Ahmed Shafik, former Minister for Civil Aviation, as Prime Minister;
Whereas the demonstrations have continued, making this the longest protest in modern Egyptian history, and on February 1, 2011, millions of protesters took to the streets across the country;
Whereas hundreds of Egyptians have been killed and injured since the protests began;
Whereas on February 1, 2011, President Hosni Mubarak announced that he would not run for reelection later this year, but widespread protests against his government continue;
Whereas on February 1, 2011, President Barack Obama called for an orderly transition, stating that it “must be meaningful, it must be peaceful, and it must begin now.” He also affirmed that: “The process must include a broad spectrum of Egyptian voices and opposition parties. It should lead to elections that are free and fair. And it should result in a government that’s not only grounded in democratic principles, but is also responsive to the aspirations of the Egyptian people.”;
Whereas despite President Hosni Mubarak’s pledge in 2005 that Egypt’s controversial emergency law would be used only to fight terrorism and that he planned to abolish the state of emergency and adopt new antiterrorism legislation as an alternative, in May 2010, the Government of Egypt again extended the emergency law, which has been in place continuously since 1981, for another 2 years, giving police broad powers of arrest and allowing indefinite detention without charge;
Whereas the Department of State’s 2009 Human Rights Report notes with respect to Egypt, ”[t]he government’s respect for human rights remained poor, and serious abuses continued in many areas. The government limited citizens’ right to change their government and continued a state of emergency that has been in place almost continuously since 1967.”;
Whereas past elections in Egypt, including the most recent November 2010 parliamentary elections, have seen serious irregularities at polling and counting stations, security force intimidation and coercion of voters, and obstruction of peaceful political rallies and demonstrations;
and
Whereas any election must be honest and open to all legitimate candidates and conducted without interference from the military or security apparatus and under the oversight of international monitors: Now, therefore, be it
Resolved, That the Senate–
(1) acknowledges the central and historic importance of the United States-Egyptian strategic partnership in advancing the common interests of both countries, including peace and security in the broader Middle East and North Africa;
(2) reaffirms the United States’ commitment to the universal rights of freedom of assembly, freedom of speech, and freedom of access to information, including the Internet, and expresses strong support for the people of Egypt in their peaceful calls for a representative and responsive democratic government that respects these rights;
(3) condemns any efforts to provoke or instigate violence, and calls upon all parties to refrain from all violent and criminal acts;
(4) supports freedom of the press and strongly condemns the intimidation, targeting or detention of journalists;
(5) urges the Egyptian military to demonstrate maximum professionalism and restraint, and emphasizes the importance of working to peacefully restore calm and order while allowing for free and non-violent freedom of expression;
(6) calls on President Mubarak to immediately begin an orderly and peaceful transition to a democratic political system, including the transfer of power to an inclusive interim caretaker government, in coordination with leaders from Egypt’s opposition, civil society, and military, to enact the necessary reforms to hold free, fair, and internationally credible elections this year;
(7) affirms that a real transition to a legitimate representative democracy in Egypt requires concrete steps to be taken as soon as possible, including lifting the state of emergency, allowing Egyptians to organize independent political parties without interference, enhancing the transparency of governmental institutions, restoring judicial supervision of elections, allowing credible international monitors to observe the preparation and conduct of elections, and amending the laws and Constitution of Egypt as necessary to implement these and other critical reforms;
(8) pledges full support for Egypt’s transition to a representative democracy that is responsive to the needs of the Egyptian people, and calls on all nations to support the people of Egypt as they work to conduct a successful transition to democracy;
(9) expresses deep concern over any organization that espouses an extremist ideology, including the Muslim Brotherhood, and calls upon all political movements and parties in Egypt, including an interim government, to affirm their commitment to non-violence and the rule of law, the equal rights of all individuals, accountable institutions of justice, religious tolerance, peaceful relations with Egypt’s neighbors, and the fundamental principles and practices of democracy, including the regular conduct of free and fair elections;
(10) underscores the vital importance of any Egyptian Government continuing to fulfill its international obligations, including its commitment under the Egypt-Israel Peace Treaty signed on March 26, 1979, and the freedom of navigation through the Suez Canal; and
(11) ensures that United States assistance to the Egyptian Government, military, and people will advance the goal of ensuring respect for the universal rights of the Egyptian people and will further the national security interests of the United States in the region.
