In the end, what had felt preordained proved interesting. President-elect and outgoing prime minister Recep Tayyip Erdogan won just under 52 per cent in Turkey's first direct presidential election on Sunday. Though it certainly was a historic win – for the first time, the president has a popular mandate – the margin wasn't as big as some observers had expected.
Mr Erdogan, after all, had all the advantages. He held trump cards in terms of money, mobility and visibility; he had a strong party machine behind him, a loyal segment of the private media, and millions of supporters willing to flock to his blockbuster rallies.
Given the relatively paltry resources of the main opposition candidate, and the little creativity shown in mitigating this, it’s difficult to say that the election was contested in a way that voters deserved.
For years, the opposition has shown its inability to find a workable formula – and that is part of the secret to Mr Erdogan’s success.
When the two main opposition parties jointly nominated Ekmeleddin Ihsanoglu as their presidential candidate, it seemed like a slick move. The two parties, which won a combined 44 per cent in March’s local elections, had found a man with international, national, academic and religious credentials. But the limitations soon became clear. The parties that nominated him did little to support him. Mr Ihsanoglu won 38.5 per cent of the vote, showing the parties’ own constituents did not fully back him. That his name was relatively unknown was made implicitly clear by his campaign planners’ choice of campaign themes. Mr Ihsanoglu’s given name, Ekmeleddin, begins with a sound combination similar to the Turkish word for “bread”. Many of his campaign posters featured pictures of wheat fields accompanied by the odd slogan “For Bread”. Far from political, they looked more like advertisements for, well, bread.
The third candidate Selahattin Demirtas, whose campaign was closely affiliated with the Kurdish national movement, won just 9.8 per cent of the vote, but could claim a better than expected result. His platform, though primarily an expression of nationalist Kurds’ demands and aspirations, made clear something that has been conspicuous for many years: that of all the major parties, the one rooted in the place that is, by many measures, Turkey’s backwater – underdeveloped, under-serviced and even stigmatised – possesses the most progressive platform. It is the most inclusive of women, and is far ahead of its rivals in terms of its policies towards the environment.
But now that Mr Erdogan has won, what about his upcoming term?
The refrain “Not since Atatürk”, has been heard often to forecast Mr Erdogan’s tenure as president. Not since Atatürk will a president wield such power. Not since Atatürk will a president be so transformative. But this is mostly rhetoric and should not be taken too seriously. For one, Mr Erdogan’s image-makers are keen on the comparison. Mr Erdogan has told supporters they are fighting “a new war of independence” – a clear reference to the war of independence won by Atatürk and his nationalist army, which led to the founding of modern Turkey. Portraits of Mr Erdogan (looking all his 60 years) often hang beside portraits of a young Atatürk, dressed in the uniform he wore during his military battles.
But in the end, the idea that Mr Erdogan stands to exert power to a degree comparable to an autocrat who hand-picked his own opposition and utterly transformed Turkey, obscures more than it reveals.
Detractors say that Mr Erdogan has long shown himself to be an autocrat, and that now, as president, he could become a tyrant.This gives rise to the other ubiquitous and unhelpful analogy that Mr Erdogan is styling himself a sultan – but we would do well to favour real analysis over dramatic historical analogies.
Mr Erdogan and his political machine are both thoroughly modern, and as able as any other modern political machine to deploy sophisticated, well-organised, disingenuous and cynical methods, including demagoguery, spin, polling and gerrymandering to win votes. (Mr Erdogan can also boast real economic achievements, however problematic.) All this is a much different from the situation faced by Atatürk or any sultan.
At the same time, concerns over Mr Erdogan’s potential power are not misplaced. Until 2007, the president provided powerful checks and balances on Turkish governments. With the army at his back, the president was the highest representative of the state, a backstop against elected lawmakers. This is why it is wrong to say that the president’s role is largely ceremonial. This has never been the case.
The Turkish president has always appointed key officers of the state, including judges, and chaired the National Security Council, a body that competes with the cabinet in terms of relative power and policy consequence. This is one reason that the Turkish parliament’s elevation of Abdullah Gül, then the foreign minister, to the presidency in 2007 precipitated the army implicitly threatening a coup.
With Mr Erdogan as president, the state will become even more identified with the government – presuming of course that the AKP party stays in power and Mr Erdogan continues to control the AKP through informal and indirect means. (The law requires a president to sever any party ties before inauguration.) As long as the AKP remains in power under Mr Erdogan, the government and the state will be closer than they’ve been since the end of military rule in the early 1980s.
It is almost certain that whoever is named prime minister to take Mr Erdogan’s place will be a loyal caretaker. This means a fundamental check has, for all practical purposes, evaporated.
The constitutional logic of the office of president has not been changed to absorb the fact the president now has a popular mandate, as does the parliament. How all this power is going to be made to fit and function is going to be the political story of Turkey’s next few months.
Caleb Lauer is a freelance journalist who covers Turkey
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Power: 380hp at 5,800rpm
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Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
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
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.”
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Company Profile
Company name: Fine Diner
Started: March, 2020
Co-founders: Sami Elayan, Saed Elayan and Zaid Azzouka
Based: Dubai
Industry: Technology and food delivery
Initial investment: Dh75,000
Investor: Dtec Startupbootcamp
Future plan: Looking to raise $400,000
Total sales: Over 1,000 deliveries in three months
WHAT FANS WILL LOVE ABOUT RUSSIA
FANS WILL LOVE
Uber is ridiculously cheap and, as Diego Saez discovered, mush safer. A 45-minute taxi from Pulova airport to Saint Petersburg’s Nevsky Prospect can cost as little as 500 roubles (Dh30).
FANS WILL LOATHE
Uber policy in Russia is that they can start the fare as soon as they arrive at the pick-up point — and oftentimes they start it even before arriving, or worse never arrive yet charge you anyway.
FANS WILL LOVE
It’s amazing how active Russians are on social media and your accounts will surge should you post while in the country. Throw in a few Cyrillic hashtags and watch your account numbers rocket.
FANS WILL LOATHE
With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds. Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.
FANS WILL LOVE
The World Cup will take place during St Petersburg's White Nights Festival, which means perpetual daylight in a city that genuinely never sleeps. (Think toddlers walking the streets with their grandmothers at 4am.)
FANS WILL LOATHE
The walk from Krestovsky Ostrov metro station to Saint Petersburg Arena on a rainy day makes you wonder why some of the $1.7 billion was not spent on a weather-protected walkway.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Scoreline
Liverpool 3
Mane (7'), Salah (69'), Firmino (90')
Bournemouth 0
SCORES IN BRIEF
Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).
Series info
Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday
ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23
T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29
Tickets Available at www.q-tickets.com
Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.
Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Company%20profile
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Reputation
Taylor Swift
(Big Machine Records)
57%20Seconds
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