• Leftist Pedro Castillo celebrates from the headquarters of the "Free Peru" party after Peru's electoral authority announced him as the winner of the presidential election, in Lima.
    Leftist Pedro Castillo celebrates from the headquarters of the "Free Peru" party after Peru's electoral authority announced him as the winner of the presidential election, in Lima.
  • A supporter of leftist school teacher Pedro Castillo watches fireworks during celebrations in downtown Lima following the official proclamation of him as Peru’s president-elect.
    A supporter of leftist school teacher Pedro Castillo watches fireworks during celebrations in downtown Lima following the official proclamation of him as Peru’s president-elect.
  • A supporter of Leftist school teacher Pedro Castillo celebrates in dowtown Lima following the official proclamation of him as Peru’s president-elect.
    A supporter of Leftist school teacher Pedro Castillo celebrates in dowtown Lima following the official proclamation of him as Peru’s president-elect.
  • Supporters of Leftist school teacher Pedro Castillo celebrate in dowtown Lima following the official proclamation of him as Peru’s president-elect.
    Supporters of Leftist school teacher Pedro Castillo celebrate in dowtown Lima following the official proclamation of him as Peru’s president-elect.
  • Supporters of Pedro Castillo celebrate after he was declared president-elect of Peru by the election authorities, in Lima.
    Supporters of Pedro Castillo celebrate after he was declared president-elect of Peru by the election authorities, in Lima.
  • Pedro Castillo celebrates with his running mate Dina Boluarte after being declared president-elect of Peru by election authorities, from the balcony of his campaign headquarters in Lima.
    Pedro Castillo celebrates with his running mate Dina Boluarte after being declared president-elect of Peru by election authorities, from the balcony of his campaign headquarters in Lima.
  • A protester holds a banner that reads "Communism Never!" as radical right-wing activists attempt to march to the Government Palace in Lima.
    A protester holds a banner that reads "Communism Never!" as radical right-wing activists attempt to march to the Government Palace in Lima.
  • Members of a band play outside the headquarters of the "Free Peru" party after Peru's electoral authority announced Pedro Castillo as the winner of the presidential election, in Lima.
    Members of a band play outside the headquarters of the "Free Peru" party after Peru's electoral authority announced Pedro Castillo as the winner of the presidential election, in Lima.
  • Supporters of leftist Pedro Castillo react outside the headquarters of the "Free Peru" party after Peru's electoral authority announced him as the winner of the presidential election, in Lima.
    Supporters of leftist Pedro Castillo react outside the headquarters of the "Free Peru" party after Peru's electoral authority announced him as the winner of the presidential election, in Lima.
  • Supporters of Leftist school teacher Pedro Castillo celebrate in dowtown Lima following the official proclamation of him as Peru’s president-elect.
    Supporters of Leftist school teacher Pedro Castillo celebrate in dowtown Lima following the official proclamation of him as Peru’s president-elect.
  • Newly Elected President of Peru Pedro Castillo waves supporters during a celebration after being confirmed as new president of Peru at the campaign headquarters.
    Newly Elected President of Peru Pedro Castillo waves supporters during a celebration after being confirmed as new president of Peru at the campaign headquarters.

Leftist rural teacher Pedro Castillo elected as Peru's next president


  • English
  • Arabic

Rural teacher-turned-politician Pedro Castillo on Monday won Peru’s presidential election after the country’s longest electoral count in 40 years.

Mr Castillo, whose supporters include Peru’s poor and rural citizens, defeated right-wing politician Keiko Fujimori by just 44,000 votes. Electoral authorities released the final official results more than a month after the runoff election took place in the South American nation.

Wielding a pencil the size of a cane, the symbol of his Peru Libre party, Mr Castillo popularized the phrase “No more poor in a rich country”. The economy of Peru, the world’s second-largest copper producer, has been crushed by the pandemic, increasing the poverty level to almost one-third of the population.

The shortfalls of Peru’s public health services have contributed to the country’s poor pandemic outcomes, leaving it with the highest global per capita death rate.

Mr Castillo, 51, has promised to use the revenues from the mining sector to improve public services, including education and health.

“Those who do not have a car should have at least one bicycle,” he said.

Supporters of Mr Castillo celebrate in dowtown Lima. AFP
Supporters of Mr Castillo celebrate in dowtown Lima. AFP

Since surprising Peruvians and observers by advancing to the presidential runoff election, Mr Castillo has softened his first proposals on nationalising multinational mining and natural gas companies. Instead, his campaign has said he is considering raising taxes on profits due to high copper prices, which exceed $10,000 a ton.

Historians say he is the first peasant to become president of Peru, where, until now, Indigenous people have almost always received the worst of the deficient public services, even though the nation boasted of being the economic star of Latin America in the first two decades of the century.

“There are no cases of a person unrelated to the professional, military or economic elites who reaches the presidency,” Cecilia Méndez, a Peruvian historian and professor at the University of California-Santa Barbara, told a radio station.

Ms Fujimori, a former congresswoman, ran for president for a third time with the support of the business elites. She is the daughter of imprisoned former president Alberto Fujimori.

Hundreds of Peruvians from various regions camped out for more than a month in front of the Electoral Tribunal in Lima, Peru’s capital, to await Mr Castillo’s proclamation. Many do not belong to his party, but they trust the professor because “he will not be like the other politicians who have not kept their promises and do not defend the poor,” said Maruja Inquilla, an environmental activist who arrived from a town near Titicaca, the mythical lake of the Incas.

Mr Castillo’s meteoric rise from unknown to president-elect has divided the Andean nation deeply.

Author Mario Vargas Llosa, a holder of a Nobel Prize for literature, said Mr Castillo “represents the disappearance of democracy and freedom in Peru.” Meanwhile, retired soldiers sent a letter to the commander of the armed forces asking him not to respect Mr Castillo’s victory.

Ms Fujimori said Monday that she will accept Castillo’s victory, after accusing him for a month of electoral fraud without offering any evidence. The accusation delayed his appointment as president-elect as she asked electoral authorities to annul thousands of votes, many in Indigenous and poor communities in the Andes.

“Let’s not put the obstacles to move this country forward,” Mr Castillo asked Ms Fujimori in his first remarks in front of hundreds of followers in Lima.

The US, the European Union and 14 electoral missions determined that the voting was fair. The US called the election a “model of democracy” for the region.

The president-elect has never held office. He has worked as an elementary school teacher for the past 25 years in his native San Luis de Puna, a remote village in Cajamarca, a northern region. He campaigned wearing rubber sandals and a wide-brimmed hat, like the peasants in his community, where 40 per cent of children are chronically malnourished.

Mr Castillo has promised to improve public services, including education and health. AFP
Mr Castillo has promised to improve public services, including education and health. AFP

In 2017, he led the largest teacher strike in 30 years in search of better pay and, although he did not achieve substantial improvements, he sat down to talk with Cabinet ministers, legislators and bureaucrats.

Over the past two decades, Peruvians have seen the previous political experience and university degrees of their five former presidents did not help fight corruption. All former Peruvian presidents who governed since 1985 have been ensnared in corruption allegations, some imprisoned or arrested in their mansions. One died by suicide before police could take him into custody. The South American country cycled through three presidents last November.

Mr Castillo recalled that the first turn in his life occurred one night as a child when his teacher persuaded his father to allow him to finish his primary education at a school two hours from home. It happened while both adults chewed coca leaves, an Andean custom to reduce fatigue.

“He suffered a lot in his childhood,” said his wife, teacher Lilia Paredes. The couple has two children.

He got used to long walks. He would arrive at the classroom with his peasant sandals, with a woolen saddlebag on his shoulder, a notebook and his lunch that comprised sweet potatoes or tamales.

Mr Castillo said his life was marked by the work he did as a child with his eight siblings, but also by the memory of the treatment that his illiterate parents received from the owner of the land where they lived. He cried when he remembered that if the rent was not paid, the landowner kept the best crops.

“You kept looking at what you had sown, you clutched your stomach, and I will not forget that, I will not forgive it either,” he said.

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.”

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

The details

Heard It in a Past Life

Maggie Rogers

(Capital Records)

3/5

2019 Asian Cup final

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

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

WRESTLING HIGHLIGHTS
Racecard

6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m

7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m

7.40pm: Handicap (TB) $135,000 (D) 1,200m

8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m

8.50pm: Handicap (TB) $135,000 (T) 1,000m

9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m

10pm: Handicap (TB) $175,000 (T) 2,410m

The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final

Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

EPL's youngest
  • Ethan Nwaneri (Arsenal)
    15 years, 181 days old
  • Max Dowman (Arsenal)
    15 years, 235 days old
  • Jeremy Monga (Leicester)
    15 years, 271 days old
  • Harvey Elliott (Fulham)
    16 years, 30 days old
  • Matthew Briggs (Fulham)
    16 years, 68 days old
The specs: 2018 Jaguar F-Type Convertible

Price, base / as tested: Dh283,080 / Dh318,465

Engine: 2.0-litre inline four-cylinder

Transmission: Eight-speed automatic

Power: 295hp @ 5,500rpm

Torque: 400Nm @ 1,500rpm

Fuel economy, combined: 7.2L / 100km

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.

The Florida Project

Director: Sean Baker

Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe

Four stars

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Fight Night

FIGHT NIGHT

Four title fights:

Amir Khan v Billy Dib - WBC International title
Hughie Fury v Samuel Peter - Heavyweight co-main event  
Dave Penalosa v Lerato Dlamini - WBC Silver title
Prince Patel v Michell Banquiz - IBO World title

Six undercard bouts:

Michael Hennessy Jr v Abdul Julaidan Fatah
Amandeep Singh v Shakhobidin Zoirov
Zuhayr Al Qahtani v Farhad Hazratzada
Lolito Sonsona v Isack Junior
Rodrigo Caraballo v Sajid Abid
Ali Kiydin v Hemi Ahio

Conservative MPs who have publicly revealed sending letters of no confidence
  1. Steve Baker
  2. Peter Bone
  3. Ben Bradley
  4. Andrew Bridgen
  5. Maria Caulfield​​​​​​​
  6. Simon Clarke 
  7. Philip Davies
  8. Nadine Dorries​​​​​​​
  9. James Duddridge​​​​​​​
  10. Mark Francois 
  11. Chris Green
  12. Adam Holloway
  13. Andrea Jenkyns
  14. Anne-Marie Morris
  15. Sheryll Murray
  16. Jacob Rees-Mogg
  17. Laurence Robertson
  18. Lee Rowley
  19. Henry Smith
  20. Martin Vickers 
  21. John Whittingdale
Bangladesh tour of Pakistan

January 24 – First T20, Lahore

January 25 – Second T20, Lahore

January 27 – Third T20, Lahore

February 7-11 – First Test, Rawalpindi

April 3 – One-off ODI, Karachi

April 5-9 – Second Test, Karachi

Start-up hopes to end Japan's love affair with cash

Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash still rules. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.

Origami had a head start when it introduced a QR-code payment service in late 2015 and has since signed up fast-food chain KFC, Tokyo’s largest cab company Nihon Kotsu and convenience store operator Lawson. The company raised $66 million in September to expand nationwide and plans to more than double its staff of about 100 employees, says founder Yoshiki Yasui.

Origami is betting that stores, which until now relied on direct mail and email newsletters, will pay for the ability to reach customers on their smartphones. For example, a hair salon using Origami’s payment app would be able to send a message to past customers with a coupon for their next haircut.

Quick Response codes, the dotted squares that can be read by smartphone cameras, were invented in the 1990s by a unit of Toyota Motor to track automotive parts. But when the Japanese pioneered digital payments almost two decades ago with contactless cards for train fares, they chose the so-called near-field communications technology. The high cost of rolling out NFC payments, convenient ATMs and a culture where lost wallets are often returned have all been cited as reasons why cash remains king in the archipelago. In China, however, QR codes dominate.

Cashless payments, which includes credit cards, accounted for just 20 per cent of total consumer spending in Japan during 2016, compared with 60 per cent in China and 89 per cent in South Korea, according to a report by the Bank of Japan.

Updated: July 20, 2021, 8:13 AM