Word: egyptianizing
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...chic would be comfortable predicting being "bigger than Gap." But Tadashi Yanai, CEO of parent company Fast Retailing, expects Uniqlo to reach $10 billion in sales by 2010, with 10% coming from the U.S. The haberdasher's son is introducing neighborhood concept stores--stocked with basics made with colorful Egyptian cotton and Mongolian cashmere--to three high-volume New Jersey malls, to add to Uniqlo's roughly 700 stores in Asia and Britain. Yanai talks big, but expansion failures in the London area in 2003 cut revenue 25% and the stock 80%. Uniqlo expects 2005 sales to surpass $3.5 billion...
Incumbent Hosni Mubarak campaigned hard against nine opponents in last week's Egyptian election, the first multiparty presidential race in the country's history. Not surprisingly, he won hands down with 88% of the vote. He could rely on the entrenched election machine of his ruling National Democratic Party, as well as the weakness of smaller opposition parties, which learned only in February that he was allowing a contest. But voter apathy as well as cries of foul play undercut Mubarak's effort to portray the election as a showcase for democratic change. Egypt's Independent Committee for Election Monitoring...
...preliminary ICEM report said that organizers for Mubarak?s National Democratic Party (NDP) paid some Egyptians between 50 and 100 Egyptian pounds ($8-16) to cast ballots for the president, an accusation of fraud that the ICEM says is backed up by video and audio recordings. The report cited instances in which police directed voters to local offices of Mubarak?s NDP to receive fake voter cards. The report noted instances in which security forces or election officials destroyed ballots marked for opposition candidates, AND issued ballots already marked in favor of Mubarak. Mubarak supporters, the ICEM added, were campaigning...
...TIME staff did, however, also see confusion and intimidation. Despite an eleventh-hour agreement to allow independent Egyptian bodies such as the ICEM to monitor voting, TIME encountered Egyptian monitors who claimed to have been blocked from entering some polling stations. ICEM monitor Suleiman Azahiry, 26, said he feared arrest and was ordered to remain 100 yards from a voting station near the village of Tukh, 15 miles north of Cairo. ?They wrote our names down and threatened us,? Azahiri, who acknowledged his opposition to Mubarak?s re-election, told TIME after the incident...
...Negad El Borai, a monitor for another coalition called the National Campaign for Monitoring Elections, said he visited at least 10 polling stations in Cairo and witnessed the type of violations that had characterized Egyptian elections in the past. ?At some places, I saw (NDP members) give voters 10 pounds ($1.75) with my own eyes,? he told TIME. In Helwan, supporters of two opposition parties said officials at an NDP office gave 20 Egyptian pounds ($3.50) and a fast-food sandwich to young men in exchange for their agreement to go to polling stations and vote for Mubarak...