Voters in Turkey will be going to the polls tomorrow with one question on their mind: is there any reason to vote differently from how they did five months ago? Sunday’s election is, in essence, a repeat of the poll held in June, which for the first time since 2002 deprived Turkey’s Justice and Development Party (AKP) of a parliamentary majority.
That result was widely interpreted as a blow to Recep Tayyip Erdogan, the Turkish president, who was counting on the AKP returning to government with a large majority so as to push through constitutional changes to concentrate power in his office.
The main reason the electorate may consider changing their vote is that in the months since June, Turkey has been embroiled in violence, including last month’s bomb attacks in Ankara.
The AKP has worked hard to present itself as the party of stability. Understandably, many voters who didn’t vote for the AKP in the last election may calculate that a single party majority would deliver, if nothing else, more clarity to the situation.
An AKP spokesperson recently suggested that if voters deliver another minority, yet another election may be held in the near future, which is a subtle and effective way to drive home the point that anything other than a majority AKP government will mean continued turmoil.
The voters who could swing the AKP from a minority to a majority position in parliament will probably come from the Nationalist Action Party (MHP). It is safe to assume that such voters, subscribing, for the most part, to a Turkish unitarist nationalism, are loath to see the Turkish government offer any concessions to Turkey’s Kurds.
As such, it is also reasonable to assume that if the AKP manages to win a majority, any commitment to the so-called “peace process” with the Kurdistan Workers’ Party (PKK) – which is already in limbo – will be terminally sundered. The clashes between Turkish security forces and the PKK have already strengthened this rationale for some voters.
The other key constituents, whose vote switching might tip the balance, are those who supported the People’s Democratic Party (HDP) in June.
The HDP support consists of the Kurdish national movement in Turkey, affiliated with, and some say led by, the PKK. However, given the more than 13 per cent of the vote the party garnered in June, it is clear that a significant part of that support was also made up of “strategic” votes, cast in the hopes of denying the AKP another majority.
Such voters will ask themselves whether or not the reasons they voted for the HDP are still valid.
Most opinion polls suggest that voters have found, on the whole, little reason to vote differently this time from how they did in June.
Surveys also suggest that the state of the economy is a key factor for voters weighing their options. Economic shakiness may sustain the electorate’s relative disillusionment with the AKP.
Syria, also, is nothing but a spoiler of the AKP’s appeal. Most Turks want nothing to do with the civil war next door that has steadily caused a deterioration in Turkey’s social stability.
The removal of Bashar Al Assad from power in Damascus used to be an essential condition of Turkey’s Syria policy. Any backtracking on that position, as seems likely as major powers shift their stance on the regime in Damascus, will only do the AKP harm.
The questions about the aftermath of Sunday’s vote remain unchanged since June’s vote: will the HDP cross the threshold of 10 per cent of the national vote required to enter parliament? If they don’t, an AKP majority is all but assured. If the HDP enters parliament, can the AKP still eke out a majority? What will Mr Erdogan do? Will an AKP majority open the door to a further concentration of presidential powers?
If the polls are right, and tomorrow’s vote is, with minor variations, a repeat of June, we already know the answers.
Caleb Lauer is a freelance journalist in Turkey
Company%20profile
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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.”
UAE currency: the story behind the money in your pockets
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
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Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
FA CUP FINAL
Manchester City 6
(D Silva 26', Sterling 38', 81', 87', De Bruyne 61', Jesus 68')
Watford 0
Man of the match: Bernardo Silva (Manchester City)
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UAE SQUAD
Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Shaiman Anwar, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Ahmed Raza, Sultan Ahmed, Imran Haider, Qadeer Ahmed, Chirag Suri , Zahoor Khan
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
match info
Southampton 2 (Ings 32' & pen 89') Tottenham Hotspur 5 (Son 45', 47', 64', & 73', Kane 82')
Man of the match Son Heung-min (Tottenham)
UAE currency: the story behind the money in your pockets
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THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
THE SPECS
Engine: six-litre W12 twin-turbo
Transmission: eight-speed dual clutch auto
Power: 626bhp
Torque: 900Nm
Price: Dh940,160 (plus VAT)
On sale: Q1 2020
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
SPECS
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The details
Heard It in a Past Life
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(Capital Records)
3/5