Nuaimi distrusts Qatari courts

National flag of Qatar - FlickrCAIRO – 20 October 2017: Qatari lawyer and former Justice Minister Najeeb Al Nuaimi said in a statement that he has a bad experience with Qatari courts and that they cannot be trusted.In a report published by the Washington Institute for Near East Policy in Washington DC, a statement by Nuaimi was attached where he supported former Al-Jazeera channel journalist Mohamed Fahmy, concerning the lawsuit the latter filed against the channel, after the channel’s attorney demand the trial take place in a Qatari court instead of a Canadian one.Nuaimi said that he had a bad experience with the Qatari courts while advocating Qatari poet Mohamed Al-Agamy in a secret session, where he claimed the judge and the investigative judge were the same person, a matter that violates Qatari laws and doesn’t guarantee the defendant a fair trial.On June 22, two former Al Jazeera journalists, Canadian-Egyptian Mohamed Fahmy and Egyptian Mohamed Fawzy, held a press conference titled “Al Jazeera on Trial” to reveal Doha’s foreign agenda in the region.They accused the Qatari network of supporting terrorist organizations with money and broadcasting equipment. Fawzy slammed the network for “betraying them” as the channel did not inform its employees that their work in Egypt was illegal.Earlier, on June 5, the Arab quartet halted all land, air and sea traffic with Qatar, and withdrew their diplomats and ambassadors from the Qatari peninsula. They issued 13 demands to Doha – then shortened them to six principles - including the closure of the Al Jazeera channel.

Source:Egypt Today

October 20, 2017 09:00 UTC

Hong Kong shares rebound as China 'Minsky moment' fears recede

Hong Kong shares rebound as China 'Minsky moment' fears recede - Reuters20 October 2017: Hong Kong shares rebounded sharply on Friday, as investors scrambled for bargains among stocks bruised from the previous session's sell-off, which was triggered by the Chinese central bank chief's reference to a "Minsky moment".On Friday, the Hang Seng Index rose 1.2 percent, to 28,487.24 points, recovering much of Thursday's 1.9 percent decline, and ending the week roughly flat.The Hong Kong China Enterprises Index jumped 1.8 percent, to 11,558.35 points, up 0.3 percent for the week.The benchmark Hang Seng index fell the most in two months on Thursday, as investors were spooked by People's Bank of China governor Zhou Xiaochuan's comments that risks from excessive optimism could lead to a "Minsky Moment". European stocks also suffered.A Minsky Moment, named after economist Hyman Minsky, is a sudden collapse of asset prices that follows a long period of growth, sparked by debt or currency pressures. "The rebound shows the market was wrong yesterday," Robert Di, founding partner of asset manger RPower Capital said.He added there had been some misreading of Zhou's remarks, which he said were used as an excuse by some investors to take profit following Hang Seng's nearly 30 percent surge this year. "I guess he wants to effect change and make life a little bit easier for his successor," Oliver said. "A bit like Bernanke wanted to end the process of quantitative easing before Janet Yellen took over.

Source:Egypt Today

October 20, 2017 08:26 UTC