Emmanuel Macron and Marine Le Pen are tipped to qualify for a run-off vote on April 24. Reuters
Emmanuel Macron and Marine Le Pen are tipped to qualify for a run-off vote on April 24. Reuters
Emmanuel Macron and Marine Le Pen are tipped to qualify for a run-off vote on April 24. Reuters
Emmanuel Macron and Marine Le Pen are tipped to qualify for a run-off vote on April 24. Reuters

Macron's lead narrows in French presidential election battle with Le Pen


Tim Stickings
  • English
  • Arabic

French President Emmanuel Macron is facing a closer-than-expected fight to be re-elected in the French presidential elections after a shock poll showed him barely in front of far-right challenger Marine Le Pen in a potential final-round vote.

A poll from Harris Interactive showed Mr Macron beating Ms Le Pen by only three points, 51.5 per cent to 48.5 per cent, if they qualify for the final run-off in this Sunday’s first round of voting.

It is the closest result on record in a survey comparing the two candidates, who faced off in the second round of the 2017 election – when Mr Macron won by the far more convincing margin of 66 per cent to 34 per cent.

Other recent polls have shown Mr Macron, 44, with a larger but not invincible lead of six to eight points, after a bounce for the president following Russia’s invasion of Ukraine gave way to a burst of momentum for Ms Le Pen.

Ms Le Pen, the 53-year-old leader of the far-right National Rally who has sought to moderate her image in recent years, has focused on bread-and-butter issues such as the cost of living in France in the campaign’s final days.

Focusing on Ukraine, Mr Macron waited until the last moment to formally declare his candidacy and held his first major campaign rally on Saturday, eight days before the first round.

“I have been campaigning seriously, I've been in the field for six months ... others chose not to campaign, including the president of the republic,” said Ms Le Pen in a radio interview.

Supporters of mainstream parties have united in the past to keep Ms Le Pen and her father Jean-Marie Le Pen out of power but there are concerns that this “republican front” could be fraying.

“Marine Le Pen could be elected president,” said former prime minister Manuel Valls, who is supporting the centrist Mr Macron, in a guest article in French media. “It’s one minute to midnight.”

Mr Macron has sought to project statesmanship in his response to the Ukraine crisis, using France’s six-month presidency of the European Union to put himself at the centre of the bloc’s foreign and defence policy.

The Harris poll showed Mr Macron on course to win the first round with 26.5 per cent of the vote and Ms Le Pen in second with 23 per cent. The top two candidates qualify for the run-off two weeks later.

Left-wing candidate Jean-Luc Melenchon was in third with 17 per cent, while centre-right Valerie Pecresse and far-right Eric Zemmour were tied on 9.5 per cent after both lost steam following early surges in the polls.

Mr Macron would win far more comfortably against any of those candidates if Ms Le Pen failed to make the run-off, surveys suggest.

Environmentalist candidate Yannick Jadot and Socialist Party nominee Anne Hidalgo, the mayor of Paris, are some way off the pace in the 12-candidate field.

French presidential elections 2022 - in pictures

  • People walk past official campaign posters of French presidential election candidates Marine le Pen and French President Emmanuel Macron, in Paris, France. Reuters
    People walk past official campaign posters of French presidential election candidates Marine le Pen and French President Emmanuel Macron, in Paris, France. Reuters
  • French President Emmanuel Macron, who is running for re-election in the 2022 French election, at a campaign rally in Nanterre, Paris. Reuters
    French President Emmanuel Macron, who is running for re-election in the 2022 French election, at a campaign rally in Nanterre, Paris. Reuters
  • French far-right Reconquete party leader and 2022 presidential election candidate Eric Zemmour (C) throws his arms aloft at the end of a campaign rally at Trocadero in Paris. EPA
    French far-right Reconquete party leader and 2022 presidential election candidate Eric Zemmour (C) throws his arms aloft at the end of a campaign rally at Trocadero in Paris. EPA
  • Far-right Rassemblement National party MP Marine Le Pen takes a selfie with supporters. AFP
    Far-right Rassemblement National party MP Marine Le Pen takes a selfie with supporters. AFP
  • Les Republicains presidential candidate Valerie Pecresse delivers a speech on the campaign trail in the French Caribbean island of Guadeloupe. AFP
    Les Republicains presidential candidate Valerie Pecresse delivers a speech on the campaign trail in the French Caribbean island of Guadeloupe. AFP
  • Ruralist party 'Resistons!' presidential candidate Jean Lassalle is surrounded by supporters before delivering a speech in Toulouse, southern France. AFP
    Ruralist party 'Resistons!' presidential candidate Jean Lassalle is surrounded by supporters before delivering a speech in Toulouse, southern France. AFP
  • Official campaign posters of Marine le Pen and Emmanuel Macron pasted on bulletin boards near the Eiffel Tower in Paris. Reuters
    Official campaign posters of Marine le Pen and Emmanuel Macron pasted on bulletin boards near the Eiffel Tower in Paris. Reuters
  • Hundreds of public servants prepare party political propaganda to be mailed, only days before the first round of the presidential election in France. AFP
    Hundreds of public servants prepare party political propaganda to be mailed, only days before the first round of the presidential election in France. AFP
  • A supporter holds up a placard reading "With You" at an election campaign event for Emmanuel Macron in Paris. Bloomberg
    A supporter holds up a placard reading "With You" at an election campaign event for Emmanuel Macron in Paris. Bloomberg
  • Emmanuel Macron speaks to journalists at the Maison de la Radio in Paris. AFP
    Emmanuel Macron speaks to journalists at the Maison de la Radio in Paris. AFP
  • French far-left party Lutte Ouvriere (LO) presidential candidate Nathalie Arthaud (C) raises her hand at a rally at Zenith concert hall in Paris. AFP
    French far-left party Lutte Ouvriere (LO) presidential candidate Nathalie Arthaud (C) raises her hand at a rally at Zenith concert hall in Paris. AFP
  • Emmanuel Macron sings the French national anthem as he appears on a giant screen at the end of his first campaign meeting at the Paris La Defence Arena in Nanterre. AFP
    Emmanuel Macron sings the French national anthem as he appears on a giant screen at the end of his first campaign meeting at the Paris La Defence Arena in Nanterre. AFP
  • French Socialist Party presidential candidate Anne Hidalgo waves to supporters in Paris. AFP
    French Socialist Party presidential candidate Anne Hidalgo waves to supporters in Paris. AFP
  • French leftist party La France Insoumise presidential candidate Jean-Luc Melenchon delivers a speech in Toulouse. AFP
    French leftist party La France Insoumise presidential candidate Jean-Luc Melenchon delivers a speech in Toulouse. AFP
  • Europe Ecologie Les Verts presidential candidate Yannick Jadot plays football with youngsters at Andre-Malraux park in Nanterre. AFP
    Europe Ecologie Les Verts presidential candidate Yannick Jadot plays football with youngsters at Andre-Malraux park in Nanterre. AFP
  • A supporter of Valerie Pecresse holds a campaign poster in Paris. EPA
    A supporter of Valerie Pecresse holds a campaign poster in Paris. EPA
  • Marine Le Pen gives a speech during a campaign meeting in Stiring-Wendel. AFP
    Marine Le Pen gives a speech during a campaign meeting in Stiring-Wendel. AFP
  • French far-left party Nouveau Parti Anticapitaliste presidential candidate Philippe Poutou delivers a speech at the Cirque d’Hiver in Paris. AFP
    French far-left party Nouveau Parti Anticapitaliste presidential candidate Philippe Poutou delivers a speech at the Cirque d’Hiver in Paris. AFP
  • French Communist Party presidential candidate Fabien Roussel sings at the end of a campaign meeting at the Double Mixte venue in Villeurbanne. AFP
    French Communist Party presidential candidate Fabien Roussel sings at the end of a campaign meeting at the Double Mixte venue in Villeurbanne. AFP
  • Far-right party Debout La France presidential candidate Nicolas Dupont-Aignan speaks to a fisherman in Palavas-les-Flots, southern France. AFP
    Far-right party Debout La France presidential candidate Nicolas Dupont-Aignan speaks to a fisherman in Palavas-les-Flots, southern France. AFP
  • A campaign rally for Eric Zemmour in Paris. AFP
    A campaign rally for Eric Zemmour in Paris. AFP
Dubai World Cup Carnival Card:

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7.40pm: Zabeel Turf Listed $175,000 (T) 2,000m​​​​​​​
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9.25pm: Handicap $175,000 (T) 1,600m

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.”

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

'Midnights'
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Essentials

The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours 
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

COMPANY%20PROFILE
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Updated: April 05, 2022, 12:54 PM