Lithuanian's took to the ballot box on Sunday to vote in round two of the presidential election, as the Baltic nation prioritises defence and security amid fears over neighbouring Russia.
Incumbent former banker Gitanas Nauseda, 60, is the heavy favourite to win another five-year term, saying he expects to receive 75 per cent of votes.
No new opinion polls have been published since the first round, when Mr Nauseda won 44 per cent of the ballot and Prime Minister Ingrida Simonyte 20 per cent.
Both candidates agree that the Nato and EU member of 2.8 million people should boost defence spending to counter the perceived threat, and to that end the government recently proposed a tax increase.
Ms Simonyte, the 49-year-old candidate of the ruling conservatives, is running for president again after losing to Mr Nauseda in the last presidential ballot.
Mr Nauseda took to social media on Sunday to urge voters to wait for the results in the gardens of the presidential palace, which led the electoral commission to warn of a possible violation of the rule of silence during election time.
The president's spokesman Ridas Jasiulionis said Mr Nauseda would not remove his Facebook post as it did not constitute campaigning.
The Lithuanian president steers defence and foreign policy, attending EU and Nato summits, but must consult with the government and parliament on appointing the most senior officials.
While the candidates agree on defence, they share diverging views on Lithuania's relations with China, which have been strained for years over Taiwan.
Olga Sokolovska, a kindergarten worker, said she had voted for Mr Nauseda.
“I like his ideas, his approach to the family and the way he deals with the public,” the 34-year-old said.
Fifty-three-year-old artist Gediminas Zilys, voted for Ms Simonyte.
“I understand that she will not win, but because support gives people confidence, we must vote for her to show that she has a lot of supporters,” he said.
“I like that she is categorical,” said Saida, who also voted Ms Simonyte.
“Maybe she's more confrontational, but she would better stand her ground than [Mr] Nauseda,” said the marketing specialist, 37, who gave only her first name.
But pensioner Ausra Vysniauskiene preferred Mr Nauseda.
“He's an intelligent man, he speaks many languages, he's educated, he's a banker,” the 67-year-old told AFP.
“I want men to lead, especially when the threat of war is so big.”
Lithuania is a significant donor to Ukraine, which has been battling Russia since the 2022 invasion, and is already a big defence spender, with a military budget equal to 2.75 per cent of GDP.
Lithuania intends to purchase tanks and additional air defence systems, and to host a German brigade, as Berlin plans to complete the stationing of around 5,000 troops by 2027.
Vilnius fears it could be next in the crosshairs if Moscow were to win its war against Ukraine.
The uneasy relationship between Mr Nauseda and Ms Simonyte's conservatives has at times caused foreign policy debates, most notably on Lithuania's relations with China.
Bilateral ties turned tense in 2021, when Vilnius allowed Taiwan to open a de facto embassy under the island's name – a departure from the common diplomatic practice of using the name of the capital Taipei to avoid angering Beijing.
China, which considers self-ruled Taiwan a part of its territory, downgraded diplomatic relations with Vilnius and blocked its exports, leading some Lithuanian politicians to urge a restoration of relations for the sake of the economy.
Mr Nauseda sees the need to change the name of the representative office, while Ms Simonyte pushes back against it.
But for voters, personal differences between the candidates, as well as economic policy and human rights, seem to matter more.
Ms Simonyte is known for a sense of humour and for writing her own social media posts. She draws support from liberal voters in bigger cities and traditional conservative voters.
A fiscal conservative with liberal views on social issues, she notably supports same-sex partnerships, which still stir controversy in the predominantly Catholic country.
“I would like to see faster progress, more openness … more tolerance for people who are different from us,” Ms Simonyte said when casting an early vote.
Mr Nauseda, who maintains a moderate and measured stance on nearly all issues, has established himself as a promoter of the welfare state, with conservative views on gay rights.
Polling stations close at 5pm, with no exit polls expected.
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
RESULTS
Time; race; prize; distance
4pm: Maiden; (D) Dh150,000; 1,200m
Winner: General Line, Xavier Ziani (jockey), Omar Daraj (trainer)
4.35pm: Maiden (T); Dh150,000; 1,600m
Winner: Travis County, Adrie de Vries, Ismail Mohammed
5.10pm: Handicap (D); Dh175,000; 1,200m
Winner: Scrutineer, Tadhg O’Shea, Ali Rashid Al Raihe
5.45pm: Maiden (D); Dh150,000; 1,600m
Winner: Yulong Warrior, Richard Mullen, Satish Seemar
6.20pm: Maiden (D); Dh150,000; 1,600m
Winner: Ejaaby, Jim Crowley, Doug Watson
6.55pm: Handicap (D); Dh160,000; 1,600m
Winner: Storyboard, Richard Mullen, Satish Seemar
7.30pm: Handicap (D); Dh150,000; 2,200m
Winner: Grand Dauphin, Gerald Mosse, Ahmed Al Shemaili
8.05pm: Handicap (T); Dh190,000; 1,800m
Winner: Good Trip, Tadhg O’Shea, Ali Rashid Al Raihe
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
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Hachette Books
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Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
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.”
RESULTS
Men
1 Marius Kipserem (KEN) 2:04:04
2 Abraham Kiptum (KEN) 2:04:16
3 Dejene Debela Gonfra (ETH) 2:07:06
4 Thomas Rono (KEN) 2:07:12
5 Stanley Biwott (KEN) 2:09:18
Women
1 Ababel Yeshaneh (ETH) 2:20:16
2 Eunice Chumba (BRN) 2:20:54
3 Gelete Burka (ETH) 2:24:07
4 Chaltu Tafa (ETH) 2:25:09
5 Caroline Kilel (KEN) 2:29:14
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