Hosni Mubarak family's fortune could reach $40-70 billion
Egyptian President Hosni Mubarak and his family's fortune has been estimated at $40-70 billion, Kazakhstan Today reports.
Almaty. February 8. Kazakhstan Today - Egyptian President Hosni Mubarak and his family's fortune has been estimated at $40-70 billion, Kazakhstan Today reports.
Egyptian President Hosni Mubarak and his family may be forced into exile before the year is out, but it will be exile padded by $US40 billion ($39.4bn) to $US70bn in cash, mostly scammed from public resources, according to Middle East experts, The Australian reported.
"The business ventures from (Mr Mubarak's) military and government service accumulated to his personal wealth," Amaney Jamal, of Princeton University, told the US's ABC news. "There was a lot of corruption in this regime and (tapping) of public resources for personal gain."
The Mubaraks, including the President's wife, Susan, and their two sons, Gamal and Alaa, are alleged to have billions salted away in Swiss accounts and to own property in some of the most prestigious locations in New York, Los Angeles and London.
A Wikileaks cable in 2006 from the then US ambassador in Cairo, Francis Ricciardone, mentioned a 274-page report by an opposition group outlining corruption accusations against the Mubarak family. The ambassador said the report was evidence of growing public anger that defied the danger of a government backlash.
In the current disturbances in Cairo, rioters set fire three times to a building owned by a steel tycoon and close confidant of Mr Mubarak's son, Gamal, who is often depicted at the centre of the system of crony capitalism that has permitted an elite class to thrive while most Egyptians live on less than $US2 a day.
Mr Mubarak is believed to have laid the foundations of the family fortune when he was commander of the air force by taking a cut from military contracts he approved.
Foreigners investing in Egypt are required to give a local partner a 20 per cent stake in start-up ventures. This gives the local partner the prospect of huge profits with no initial outlay. "Almost every project needs a sponsor, and Mubarak was well-placed to take advantage of any deals on offer," said Christopher Davidson, of Durham University.
Aladdin Elaasar, author of The Last Pharaoh, said the Mubaraks indulged in a lavish lifestyle and had several palatial homes around the country. "Gamal and Alaa are partners in the biggest trade and industrial companies in Egypt, practically paying nothing." Gamal, the younger of the brothers, had been designated by his father as his heir-apparent but public outrage forced Mr Mubarak to cancel that plan at the beginning of the uprising last month.
The atmosphere of corruption in Egypt is pervasive, extending into the security services and army, one of the major factors that has sent millions of Egyptians protesting into the streets.
Heraldsun correspondent reports the 82-year-old leader met his new-look cabinet for the first time yesterday as the regime battled to get the economy moving despite demonstrations by pro-democracy activists occupying a Cairo square since January 25.
According to the official MENA news agency, the Cabinet approved a plan to increase state sector salaries by 15 per cent from April and to spend another 6.5 billion Egyptian pounds (about $930 million) boosting pensions.
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Kazakh, Kyrgyz presidents hold talks in Astana
Images | Akorda
Kassym-Jomart Tokayev and Sadyr Zhaparov held closed-door talks in Akorda. The Kazakh President spoke on the importance of his Kyrgyz counterpart's visit for both countries, Kazinform News Agency reports.
Today we sign the Treaty on Deepening and Expanding Allied Relations, a historical document, which will give a new impulse to the development of the Kazakh-Kyrgyz ties," the Kazakh President said.
Kassym-Jomart Tokayev thanked Sadyr Zhaparov and the people of Kyrgyzstan for the humanitarian aid sent due to the massive floods in several regions of Kazakhstan. He pointed out dynamic development of the bilateral contacts. In his opinion,active political dialogue, close intergovernmental and interparliamentary ties give a special impulse to the relations.
Our bilateral trade and economic cooperation strengthens year by year. Last year, commodity turnover reached $1.5 billion having increased by 26%. We set a goal to raise this indicator to $2 billion. A number of promising projects are implemented in this area. In whole, the agreements in trade-economic sector are fulfilled," the Kazakh President noted.
Special attention was given to the expansion of cultural and humanitarian ties.
Holding the Days of Culture has already turned into a good tradition. We exchange experience in education. The contacts between the youth have intensified. Today we will open the monument to Manas in Astana, which proves a high level of the Kazakh-Kyrgyz relations. We are interested in bringing them to a brand new level," he stated.
Kassym-Jomart Tokayev emphasized he highly values the personal contribution of Sadyr Zhaparov to strengthening the traditional friendship and good-neighborly relations.
The President of Kyrgyzstan thanked Kassym-Jomart Tokayev for hospitality.
Kazakhstan is our close partner, fraternal nation and one of the major trade partners. Kazakhstan is a priority in our foreign policy. There are no politcal or regional disputes between our countries. Since the first days of my presidency, you have constantly supported me in international structures and issues related to the expansion of the Kazakh-Kyrgyz relations. We are ready to provide all possible assistance to the fraternal Kazakh people in flood relief efforts. Our countries enjoy centuries-long friendship, fraternity, good-neighborly relations, common culture, spirituality and religion. I am confident that our mutual cooperation, strategic partnership will strengthen further," said Sadyr Zhaparov.
The sides also discussed the issues of enhancing interaction in political, transport-transit, energy spheres, as well as regional and international agenda.
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Armenia is an important partner for Kazakhstan, Kassym-Jomart Tokayev
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Kazakh President Kassym-Jomart Tokayev met with President of Armenia Vahagn Khachaturyan, Kazinform News Agency learnt from the Akorda press service.
The Head of State said Armenia is an important partner for Kazakhstan.
The parties debated issues concerning Kazakhstan-Armenia cooperation paying attention to cooperation in political, trade and economic, transport and transit, cultural and humanitarian spheres.
The President of Armenia called the visit of Kassym-Jomart Tokayev to Yerevan historic noting that the outcomes of the talks lay a solid foundation for strengthening ties between the countries and bringing interstate relations to a new level.
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Olzhas Bektenov pays working visit to Bishkek
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On the instructions of the Head of State, Prime Minister of the Republic of Kazakhstan Olzhas Bektenov made a short-term working visit to the Kyrgyz Republic, primeminister.kz reports.
In Bishkek, the Head of Government of Kazakhstan was received by the President of Kyrgyzstan Sadyr Japarov. Olzhas Bektenov conveyed words of greetings from the Head of State Kassym-Jomart Tokayev and expressed the readiness of the Government of Kazakhstan to make every effort to ensure the progressive development of trade and economic cooperation.
During the negotiations at the Government level with the Chairman of the Cabinet of Ministers - Head of the Administration of the President of Kyrgyzstan Akylbek Japarov the issue of preparation for the forthcoming official visit of the President of Kyrgyzstan Sadyr Japarov to Kazakhstan was considered. The parties discussed joint measures to increase bilateral trade turnover to $2 billion. Attention was paid to specific projects aimed at strengthening trade and economic cooperation between the two countries. Kazakhstan is ready to increase exports of 195 commodity items worth $260 million.
There is a wide potential in food, industrial, petrochemical, construction, pharmaceutical and other sectors. This is also supported by plans to establish an Industrial Trade and Logistics Complex on the common border. The launch of this project will have a multiplier effect and will give an additional impetus to trade, economic and investment co-operation.
To fully unlock the potential of cooperation in agriculture, the two governments will take measures to increase mutual supplies of products and launch joint projects, as well as continue active interaction between research institutes and agricultural universities of the two countries.
Olzhas Bektenov emphasised the importance of approving the operation regimes of water management facilities of interstate use for the growing season of 2024.
Along with this, the parties noted the dynamic work to increase the capacity of the Kazakhstan-Kyrgyz border, as well as the attractiveness of transit for freight carriers. In accordance with the Concept of development of transit and transport potential of Kazakhstan until 2030, the construction and reconstruction of Karasu, Besagash, Aukhatty, Sartobe, Aisha Bibi, Sypatay Batyr and Kegen checkpoints are envisaged.
During the meeting the parties also discussed issues of co-operation in the spheres of education, culture and tourism. As a result of the talks, the parties confirmed their readiness to fully realise all the tasks set by the heads of two states and raise Kazakhstan-Kyrgyzstan cooperation to a new level.
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President Tokayev visits historic sites of Khiva
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As part of his working visit to Uzbekistan, Head of State Kassym-Jomart Tokayev visited the Itchan Kala settlement, located in the historic center of ancient Khiva. The Kazakh leader was accompanied by Uzbek President Shavkat Mirziyoyev, Kazinform News Agency cites Akorda.
Itchan Kala is the first monument to be added to the UNESCO World Heritage List in Central Asia.
The state historic and archeological museum reserve hosts around 400 residential buildings as well as 60 monuments of history and architecture. The Head of State of Kazakhstan began his tour at the Ata darvaza gate.
Uzbek national songs and theatre performance were presented to the high-ranking guests.
Then, the Presidents visited the unique complex Kunya Ark, Shergozi Khan madrasa, Mukhammad amin Inak madrasa, Zhuma mosque and Tash khovli complex.
The leaders of Kazakhstan and Uzbekistan also visited the mausoleum of the medieval Khiva poet and enlightener, Sufi teacher and philosopher Pourya-ye Vali.
Tokayev and Mirziyoyev also toured one of the unique structures of the Khwarazm architecture - the Nurullabai Palace.
The leaders of the two countries visited the house of the chief vizier of the Khiva Khanate Seyid Ibrahim Khoja, Besh hovli complex, guest rooms and other rooms of the Palace.
Afterwards, the Presidents were presented with the exhibition of fine art and the exhibit ‘The 19-20th century Khwarazm in photos’. During the exhibition, the two leaders were familiarized with the works of the founder of Uzbek national photography and documentary film Khudaibergen Devanov.
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Kazakh-Uzbek tandem is a vital need, says President Tokayev
Head of State Kassym-Jomart Tokayev and Uzbek President Shavkat Mirziyoyev held an informal meeting in Khiva, Uzbekistan, Kazinform News Agency cites Akorda.
Kassym-Jomart Tokayev and Shavkat Mirziyoyev discussed further enhancement of Kazakh-Uzbek strategic partnership and alliance.
Stressing the symbolic nature of the meeting in Khiva - the treasure of Islamic civilization and architecture, the Kazakh President reiterated the successful development of bilateral cooperation in all areas.
As Tokayev noted, the governments of both countries actively work on implementing the agreements reached, progressively realizing the corresponding roadmaps and carrying out work on the agreements signed and trade contracts. Mutual trade turnover has been demonstrating good performance.
Following the last year, the trade between the countries stood at 4.4 billion US dollars. The countries carry out joint projects in spheres such as the industry, energy, transport and logistics, and agriculture. As of today, the portfolio includes 60 joint projects with the total volume of investments of over 2.5 billion US dollars and creation of over 13 thousand jobs. The project for the construction of the international center for industrial cooperation is progressing successfully.
The Kazakh leader said that Kazakh-Uzbek tandem is a vital need and that only together it could be possible to ensure sustainable development of the countries. In this regard, the Head of State backed the adoption of the 2023 Kazakhstan-Uzbekistan Strategic Partnership and Alliance Program.
During the meeting, the Presidents exchanged views on a wide range of issues of economic cooperation, including greater mutual trade, cooperation in energy, transport, water management, and IT sector. Special attention was attached to the development of cultural and humanitarian ties and unleashing the unique tourist potential of Kazakhstan and Uzbekistan.
Tokayev and Mirziyoyev also discussed the regional agenda and compared notes on the interaction within international structures.
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Kazakh President met with secretaries of SCO Security Councils
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President of Kazakhstan Kassym-Jomart Tokayev met with the secretaries of the SCO Security Councils at Akorda, Kazinform News Agency learnt from the Akorda press service.
Addressing those present the Head of State said the country is preparing to host the Astana SCO Summit which is of great importance for Kazakhstan.
The President said meetings of the secretaries of the SCO Security Councils come to the fore amid the growing role of collective security in the vast zone of SCO responsibility.
183 regional and local conflicts occurred last year worldwide growing by almost 30%. It is the highest number for the past three decades. Experts believe the global cycle of conflicts and acts of violence unwraps escalating the threat of international terrorism.
The Head of State said the recent traffic events in Moscow region that killed many civilians showed that terrorists continue to use the most terrible and inhumane forms of violence.
Kazakhstan strongly condemned the terror act and affirmed Kazakhstan’s solidarity with Russia. The world community also strongly denounced the terror act in Moscow region. The UN Security Council stressed the need to bring to responsibility all those guilty and the importance of international cooperation in the war on terrorism.
Kassym-Jomart Tokayev said the key is to make the right conclusions and take necessary practical measures, to ensure the security of people and stand up to the terrorist threat.
He reminded the SCO was built to ensure stability and security in the region to jointly combat three evils. The Head of State underscored the need to adopt the program for cooperation in the fight against terrorism, separatism and extremism for 2025-2027. He also emphasized the importance of adopting the Anti-Drug Strategy of SCO for 2024-2029 and the action plan for its implementation.
Kassym-Jomart Tokayev said the SCO is a unique organization given its universal agenda that includes a wide range of issues, as well as economic cooperation, investment policy, and cultural cooperation.
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Olzhas Bektenov meets with Chairman of XUAR People's Government of China Erkin Tuniyaz
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The Prime Minister of the Republic of Kazakhstan Olzhas Bektenov met with the Deputy Secretary of the Party Committee of the CPC XUAR China, Chairman of the People's Government of Xinjiang Uygur Autonomous Region of the People's Republic of China Erkin Tuniyaz, who arrived on a visit to Astana to participate in the second forum of exporters to participate in the second forum on "New approaches to the development of trade relations between Kazakhstan and China", primeminister.kz reports.
In the course of negotiations discussed issues of cooperation in trade, economic and investment spheres in the framework of the implementation of agreements reached at the level of heads of two states.
China is a major foreign trade partner of Kazakhstan. At the end of last year, bilateral trade turnover totalled $31.5 billion. China's Xinjiang Uygur Autonomous Region borders four Kazakh regions. Xinjiang Uygur Autonomous Region accounts for over 64% or $20.3bn of the total trade turnover with China.
The parties noted the strengthening of investment cooperation. The total inflow of investments from PRC since 2005 has reached almost $25 billion. For 9 months of last year the volume of direct Chinese investments increased by 37%. Today the list of 45 Kazakh-Chinese projects provides for a total investment of over $14.5bn.
An important direction of our interaction is the expansion of investment cooperation, supported by new joint industrial projects, including in the fields of petrochemicals and metallurgy," Olzhas Bektenov emphasised and noted the significant potential for diversification of trade relations.
During the talks, Olzhas Bektenov and Erkin Tuniyaz noted among the points of interaction transit-transport, cultural and interregional directions, as well as agriculture and tourism.
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