Last weekend's parliamentary elections have secured Algeria's leading party, the Front de Libération Nationale, (FLN) the most seats in parliament, with the Islamist, Mouvement de la Société pour la Paix, (MSP) coming in second.
President Tebboune had his own interpretation of how things were going to shape up
However, with only 105 seats of the 407 seat chamber secured, the FLN have fallen short of the 204 seats required for an overall majority.
Negotiations must now begin to form a government capable of commanding a majority with opposition parties, including the MSP, who won 64 seats, with the country's independents gaining 78 seats collectively.
Despite their Islamist credentials and Muslim Brotherhood affiliation, the MSP are far from political outliers. Until 2012 the MSP had governed Algeria as part of a political triumvirate alongside the FLN and the Rassemblement National Démocratique, (RND) and, at least among civil society groups, are widely seen as part of the established political cadre.
Algeria's legislative elections had initially been slated for 2022. However, following pressure brought on by the mass protest movement, or Hirak, that have roiled the country since 2019, they were brought forward in February of this year.
Protesters had returned to the streets following a months' long hiatus brought on by the Covid-19 pandemic.
Algeria's President, Abdelmadjid Tebboune had pitched the vote as a reaction to the initial demands of the leaderless Hirak, claiming a mandate to build a "new Algeria" after years of political and economic stagnation.
Announcing the results last night, the head of the electoral body, the Autorité nationale indépendante des élections (ANIE) Mohamed Chorfi said, "The dynamic of peaceful change that was launched (with the hirak) is being strengthened.”
However, any claims of a broad democratic mandate for the new government will likely be undercut by a participation rate of just 30.2 per cent, itself subject to question following an unexplained surge in voter numbers as polling stations were set to close.
Nevertheless, disregarding the accuracy of the tally, this remains the lowest turnout in any legislative vote for twenty years with many of the country's principal opposition parties boycotting the vote.
This is the third nationwide poll to be held by President Tebboune since assuming office in December 2019, none of which have garnered the kind of participation as had been hoped for.
President Tebboune's own election involved less than 40 per cent of the population, the lowest turnout since the country gained independence in 1962. A subsequent referendum in November of last year drew less than a quarter of the population.
The Hirak endures
Regardless of its shrinking numbers, the Hirak remains the dominant force in Algeria's street politics. Looking to the increased militancy of the protesters, some observers – seemingly including both the leader of the MSP, Abderrazak Makri and President Tebboune , believed the movement was a sign of growing sympathy towards political Islamism.
In the build up to the election, President Tebboune, an independent, gave high profile interviews to both Al Jazeera and the French magazine, Le Point, where he appeared amenable to working alongside an Islamist Prime Minister.
Speaking on Sunday, before being contradicted by ANIE, Mr Makri congratulated voters on their choice, before warning against attempts to reverse the results, as he claimed had happened under Algeria's previous President, Abdelaziz Bouteflika.
"I think President Tebboune had his own interpretation of how things were going to shape up and essentially bet on an Islamist Prime Minister," Jalel Harchaoui at Global Initiative said. "If that had worked out well, Tebboune could have renewed his legitimacy while remaining above it all as president."
For Mr Harchaoui, attempting to read the runes of the leaderless Hirak was always destined to prove an exercise in futility.
"It's predominantly a spontaneous movement driven by grievances," he said, "Islamists enjoy a form of sympathy among some strands of Hirak, it's true, but they're not the Hirak."
Nevertheless, the relative victory of the FLN has contradicted such hopes and – surrounded by a closed clique of army officers, trade unionists and business people – has highlighted the potential vulnerability of Algeria's President.
Mr Harchaoui recalled the lengthy period of time earlier this year when President Tebboune was admitted to hospital in Germany with Coronavirus.
"President Tebboune was out of circulation for a while and nothing really happened," Mr Harchaoui said, "so, that means Algeria either has a great political system that can continue to function perfectly on the strength of a few phone calls between a sick president and the army, or that President Tebboune is in fact politically isolated in the greater scheme of things. I mean, a few foreign policy decisions were delayed, but that was about it."
In the short term, however, it will be the voice of the Hirak that renders judgement on last weekend's legislative elections.
Questions remain over how long a leaderless movement, galvanised predominantly by grievance and a sense of injustice can continue in its current form. Whatever might take its place remains to be seen.
Dubai World Cup prize money
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Group 2 3,200m (Turf) Dubai Gold Cup – $750,000
Group 1 1,200m (Turf) Al Quoz Sprint – $1,000,000
Group 2 1,900m(Dirt) UAE Derby – $750,000
Group 1 1,200m (Dirt) Dubai Golden Shaheen – $1,500,000
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Group 1 2,410m (Turf) Dubai Sheema Classic – $5,000,000
Group 1 2,000m (Dirt) Dubai World Cup– $12,000,000
Killing of Qassem Suleimani
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Company%20Profile
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The Kites
Romain Gary
Penguin Modern Classics
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%209
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Match info
Costa Rica 0
Serbia 1
Kolarov (56')
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Ballon d’Or shortlists
Men
Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)
Women
Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)
Company%20profile
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Brief scoreline:
Tottenham 1
Son 78'
Manchester City 0
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 specs: 2017 GMC Sierra 1500 Denali
Price, base / as tested Dh207,846 / Dh220,000
Engine 6.2L V8
Transmission Eight-speed automatic
Power 420hp @ 5,600rpm
Torque 624Nm @ 4,100rpm
Fuel economy, combined 13.5L / 100km
