French President Emmanuel Macron. Reuters
French President Emmanuel Macron. Reuters
French President Emmanuel Macron. Reuters
French President Emmanuel Macron. Reuters

Macron's rivals turn up the volume two weeks from vote


Soraya Ebrahimi
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Candidates in France's presidential election face a last-gasp push to overcome polls that suggest incumbent Emmanuel Macron is the clear favourite to win.

The first round of polling begins in about two weeks.

Mr Macron has been buoyed by his diplomacy and toughness on Russia since its troops invaded Ukraine, but has faced accusations of avoiding real debate.

Questioned on Sunday about his minimum campaigning, Mr Macron told broadcaster France 3 that "no one would understand at a moment when there's war" if he was out electioneering "when decisions have to be made for our countrymen".

Short of a major upset at the April 10 first round vote, Mr Macron's opponent in the run-off will be far-right National Rally leader Marine Le Pen, in a repeat of five years ago.

But Ms Le Pen's far-right rival Eric Zemmour, conservative Valerie Pecresse and left-wing candidate Jean-Luc Melenchon still hope they can reach the second round on April 24.

"Everything could be decided in the two weeks to come," with four in 10 likely voters still undecided, Adelaide Zulfikarpasic of the BVA Opinion polling group said.

Former columnist and TV commentator Mr Zemmour on Sunday rallied thousands of people waving French flags near the Eiffel Tower.

He called for more energy from his supporters in a speech that hit familiar notes of nostalgia for past French greatness and criticised immigrants who did not assimilate into French society.

"We've still got 14 days left. It's an eternity," Mr Zemmour said.

He said he was "the only candidate on the right".

Now trailing below 10 per cent in some polls, he is far short of Ms Le Pen's 20 per cent and Mr Macron at close to 30 per cent.

Ms Le Pen tried to project serenity as allies, including her niece Marion Marechal, deserted her for the tough-talking Mr Zemmour.

She has campaigned on French streets and market squares, and on Sunday again sought to appear more mainstream and competent than her rival.

"Eric Zemmour's programme is brutal in form but very limited in substance, whereas I have a draft law ready to be passed" on Islam and immigration, Ms Le Pen told weekly newspaper Le Journal du Dimanche on Sunday.

With those two battling for the hard-right and Mr Macron campaigning on business and law and order, Ms Pecresse has struggled to make herself heard.

  • Russian President Vladimir Putin, left, and French President Emmanuel Macron meet in the Kremlin in Moscow. EPA
    Russian President Vladimir Putin, left, and French President Emmanuel Macron meet in the Kremlin in Moscow. EPA
  • Mr Macron at a joint news conference with Mr Putin after five hours of talks. AP
    Mr Macron at a joint news conference with Mr Putin after five hours of talks. AP
  • Mr Putin said proposals put forward by the French leader during their discussion could form a basis for moving forwards. The crisis was sparked by Russia's massing of troops on its border with Ukraine. EPA
    Mr Putin said proposals put forward by the French leader during their discussion could form a basis for moving forwards. The crisis was sparked by Russia's massing of troops on its border with Ukraine. EPA
  • Mr Putin denied that Russia was acting aggressively towards Ukraine or the West. Reuters
    Mr Putin denied that Russia was acting aggressively towards Ukraine or the West. Reuters
  • The Russian leader said Ukrainian authorities were to blame for the conflict in the east of the former Soviet state. Reuters
    The Russian leader said Ukrainian authorities were to blame for the conflict in the east of the former Soviet state. Reuters
  • Mr Macron said the discussion could "make a start in the direction in which we need to go, which is towards a de-escalation". AFP
    Mr Macron said the discussion could "make a start in the direction in which we need to go, which is towards a de-escalation". AFP
  • Mr Macron also travelled to Kiev to meet Ukrainian President Volodymyr Zelensky, left. AFP
    Mr Macron also travelled to Kiev to meet Ukrainian President Volodymyr Zelensky, left. AFP
  • Mr Macron at a joint press conference with his Ukrainian counterpart following their meeting. EPA
    Mr Macron at a joint press conference with his Ukrainian counterpart following their meeting. EPA

Most recently, a positive Covid-19 test has kept her from planned campaign stops.

On Sunday, Mr Melenchon, who is polling at 12 to 15 per cent, rallied supporters in the Mediterranean port city of Marseille.

While left-wing resistance, including the 2018-2019 "yellow vest" protests, has dogged the presidency of Mr Macron, a host of competing candidacies from the left have not yet made a real mark on this year's election.

Mr Melenchon told the crowd that "we've suddenly said to ourselves, 'We're going to make it,'" into the second round.

"We're going to talk about serious things, not money fantasies like the one or racist fantasies like the other," he said.

Left-wing voters are split between Paris Mayor Anne Hidalgo, who is polling at about 2 per cent for the once-mighty Socialist Party, Communist candidate Fabien Roussel and Greens leader Yannick Jadot.

The woes of Ms Pecresse and Ms Hidalgo illustrate the longer-term factors beyond Ukraine that have affected French politics.

"The systematic voter who voted out of duty, the voter who was loyal and faithful to political parties or to candidates ... no longer exists," said Anne Muxel, research director at the Centre for Political Research in Paris.

"Voters have a much more independent, individualised relationship to politics and to their electoral choices. They're much more mobile, more volatile.

"The majority of French people don't feel represented by political office-holders."

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What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.

In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.

It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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.”

How Apple's credit card works

The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.

What does it cost?

Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.

What will the interest rate be?

The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts

What about security? 

The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.

Is it easy to use?

Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision. 

* Associated Press 

The specs

Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

On sale: Now

Defence review at a glance

• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”

• Prioritise a shift towards working with AI and autonomous systems

• Invest in the resilience of military space systems.

• Number of active reserves should be increased by 20%

• More F-35 fighter jets required in the next decade

• New “hybrid Navy” with AUKUS submarines and autonomous vessels

Related
Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
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

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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20twin-turbo%20V8%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E680hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E930Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3EEight-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh749%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
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COMPANY%20PROFILE
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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

On sale: Now

Huroob Ezterari

Director: Ahmed Moussa

Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed

Three stars

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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Updated: March 28, 2022, 9:14 AM