Preliminary results from Turkey's presidential election showed President Recep Tayyip Erdogan ahead with almost 60 per cent of votes, compared with about 35 per cent for opposition leader Kemal Kilicdaroglu late on Sunday.
But sources for Mr Kilicdaroglu's Republican People's Party (CHP) said the opposition leader was ahead by a narrow margin, Reuters reported.
CHP spokesman Faik Oztrak claimed his party was leading before state broadcaster TRT declared Mr Erdogan was in the lead.
Surveys had previously shown Mr Erdogan trailing Mr Kilicdaroglu, which would lead to Turkey having a new leader after more than 20 years of Erdogan rule.
Results were expected to roll in from across the country after 9pm local time (10pm UAE time).
In the Republican People's Party (CHP) stronghold of Besiktas, English student Mert Turkan, 24, from Iskenderun, told The National he voted for party leader Kemal Kilicdaroglu.
Iskenderun was hard hit in the February earthquake, which left more than 50,000 people dead — including Mr Turkan's brother, sister-in-law and nephew.
”People are against Erdogan because he failed to save our people,” he said, as he showed us video footage of him extracting his brother’s corpse from under the rubble. He said he no longer wanted to live in Turkey and hopes to emigrate to Germany.
"[My nephew] was born next to me, and he died next to me," said Mr Turkan, before displaying a tattoo on his left forearm of his nephew perched on his shoulders.
The student, who dropped out of university after the earthquake to support his family, said he supported Muharrem Ince in the last election, but is now supporting the CHP.
“I hate Recep Tayyip Erdogan,” he said. "He’s a dictator. Kilicdaroglu is trustworthy, he’s a really cool guy. Erdogan doesn’t allow anything.
A presidential candidate must secure more than 50 per cent of votes to avoid a run-off election on May 28.
Various restrictions have been put in place, including a ban on the sale of alcohol until midnight.
Media outlets are banned from reporting election-related news, commentary or predictions until after 6pm.
More than 191,000 ballot boxes have been sent out across Turkey for the about 61 million eligible voters, state media reported. Additional polling stations have been set up for tens of thousands of people displaced by February's earthquake who cannot return home to vote.
Outside a polling station in the neighbourhood of Katip Mustafa Celebi, local governor Aysel Kilic said: ”I can’t officially say who I voted for but I hope the best for Turkey.
"I hope everything will be beautiful,” she said, using a slogan of Mr Kilicdaroglu.
”The atmosphere is good, people are voting and everything is under control.”
Mehmet Sankarsan, 42, said he voted for the opposition in the hope it would improve life for Turkey’s large Kurdish minority.
“I hope Kilicdaroglu will win and he will solve the Kurdish issue and help poor people, because economically they’re in a terrible way,” he said. "I hope he will bring equality for all citizens."
Artist Bilge Keresu, 35, said she hoped an opposition win would strengthen women’s rights in Turkey.
”As women we have a lot of difficulties in Turkey," she said. "If Kilicdaroglu comes, I hope we will rejoin the Istanbul Convention and we will have our rights to live as equal citizens, the same as men as Turkey.”
Voters will also elect deputies to Turkey's 600-seat parliament.
The presidential candidates made their final pleas for votes in Istanbul and Ankara on Saturday.
Mr Kilicdaroglu, leader of the People's Republican Party (CHP), addressed a rally in the capital, where he also visited the mausoleum of Mustafa Kemal Ataturk, founder of the party and of the modern Turkish state.
Addressing supporters in the rain, Mr Kilicdaroglu said: "Ataturk was open to innovation. He embraced change with courage. Focus all your energy on building the new, not fighting the old."
Mr Erdogan, leader of the Justice and Development Party (AKP), toured three Istanbul districts on the eve of the election, including his home area of Kasimpasa, where residents affirmed their support for the president despite the economic problems now facing the country.
Speaking later at the Hagia Sofia mosque, he said: "We will emerge stronger from the ballot box."
Mr Erdogan has dismissed accusations that he would not step down if he was defeated.
“If our nation decides to make such a different decision, we will do exactly what’s required by democracy,” he said in an interview aired by more than a dozen Turkish broadcasters on Friday.
The pro-Kurdish Peoples' Democratic Party (HDP), which attracts about 10 per cent of votes and has backed Mr Kilicdaroglu, held its final rally in the Istanbul district of Yenekepi. Kurdish rap blared from loudspeakers as officials took to the stage shouting "Jin, Jiyan, Azadi" or "Woman, Life, Freedom" — a famous Kurdish slogan which has recently featured in Iran's anti-government protests.
The withdrawal of presidential candidate Muharrem Ince on Thursday is expected to boost Mr Kilicdaroglu's votes.
Turnout is traditionally strong in Turkey, with more than 81 per cent of voters taking part in the 2018 election. Millions of first-time voters will also take to the polls.
Voters in the diaspora have already broken participation records, with more than three million votes cast.
Nick's journey in numbers
Countries so far: 85
Flights: 149
Steps: 3.78 million
Calories: 220,000
Floors climbed: 2,000
Donations: GPB37,300
Prostate checks: 5
Blisters: 15
Bumps on the head: 2
Dog bites: 1
TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)
What is THAAD?
It is considered to be the US's most superior missile defence system.
Production:
It was created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.
The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km
LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
Torque: 560Nm
Price: Dh234,000 - Dh329,000
On sale: now
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
T20 World Cup Qualifier
Final: Netherlands beat PNG by seven wickets
Qualified teams
1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman
T20 World Cup 2020, Australia
Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland
MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham 0-1 Ajax, Tuesday
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Game is on BeIN Sports
THE BIO
Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.
Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.
Personal motto: If something’s meant for you it won’t pass you by.
