Janez Jansa, president of the SDS (Slovenian Democratic Party), talks to the media after his party were the largest party in national elections, according to the initial polls result. EPA/ANTONIO BAT
Janez Jansa, president of the SDS (Slovenian Democratic Party), talks to the media after his party were the largest party in national elections, according to the initial polls result. EPA/ANTONIO BAT
Janez Jansa, president of the SDS (Slovenian Democratic Party), talks to the media after his party were the largest party in national elections, according to the initial polls result. EPA/ANTONIO BAT
Janez Jansa, president of the SDS (Slovenian Democratic Party), talks to the media after his party were the largest party in national elections, according to the initial polls result. EPA/ANTONIO BAT

Anti-migrant group set to be largest party after Slovenia election


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The anti-immigration party of veteran centre-right leader Janez Jansa has emerged as the largest party in Slovenia’s parliamentary election on Sunday but may struggle to command a majority, almost final results suggest.

With about 98 per cent of votes counted, Mr Jansa’s SDS party appears to have secured just more than 25 per cent of the ballot – giving it 25 seats in the 90-seat assembly – and the "anti-establishment" LMS party of comedian-turned-politician Marjan Sarec is in second place on 12.7 per cent and 13 seats, the State Election Commission said.

During the campaign, Mr Jansa made a common cause of migration with fellow right-wing firebrand Hungarian prime minister Viktor Orban by evoking memories of more than 500,000 migrants who crossed Slovenia in late 2015 and early 2016 – although all except a handful of them continued on to northern Europe.

In a televised statement on Sunday evening, delivered with little triumphalism, the 59-year-old Mr Jansa said his party’s “door for talks and coalitions is open” to all other parties.

“We are ready to start serious talks based on the programme we have been working hard on,” he said.

He re-iterated his anti-migrant position saying migration was “the most serious challenge according to most Europeans”.

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The only party that has so far said it would work with him, the centre-right Nova Slovenija, has won just 7.1 per cent and seven seats of the vote, leaving the two parties short of the 46 needed for a majority.

That leaves the second-placed LMS party potentially with a crucial role to play.

Speaking to the POP TV station after polls closed, Mr Sarec said he was “very happy” with the results, hinting that it could give him the opportunity to band together with other parties to keep Mr Jansa out of power.

During the campaign Mr Sarec said that Mr Jansa’s anti-immigration rhetoric and his appearances with the Hungarian PM “crossed all red lines”.

On Sunday evening Mr Sarec repeated his opposition to working with the SDS leader, saying: “We have said it so many times in public that we would not be trustworthy if we did.”

Mr Sarec had been criticised for his vague platform during the campaign but recently told AFP that his party “has many things in common with [French president Emmanuel] Macron’s position - a sensible, centrist orientation”.

The centre-left Social Democrats have finished in third place on just less than 10 per cent, followed by the SMC party of outgoing prime minister Miro Cerar on 9.7 per cent and the left-wing Levica party with 9.2 per cent.

Early elections were called in March after Mr Cerar threw in the towel following months of public-sector strikes and internal wrangling within his coalition. The last straw came when a supreme court verdict on a flagship infrastructure project went against the government.

On Sunday Mr Cerar told POP TV that the “results show that we [SMC] remain an important player on the political stage, and we will continue fulfilling our roll with responsibility”.

Just more than 51 per cent of the 1.7 million Slovenians eligible to vote went to the polls.

Mr Jansa’s political career stretches back to the country’s struggle for independence from Yugoslavia, and has already seen its fair share of drama. In 2013 he was forced to step down from a second term as prime minister over a corruption scandal and ran in the 2014 elections from jail – the conviction was later overturned.

In this campaign he promised to tackle the thorny issues of healthcare reform and disputes with neighbour Croatia, as well as promising tax cuts.

But it was his combative personality, strident anti-immigration rhetoric and alliance with Mr Orban that dominated the closing stages of the campaign.

Like right-wing leaders elsewhere, he has adopted a feisty presence on Twitter and has used it to defend his alliance with Mr Orban.

“Thanks to its [migration] policy, Hungary is a safe country while Belgium, due to its wrong policy, isn’t,” read a recent tweet from Mr Jansa, who first served as prime minister from 2004 to 2008.

Last month Mr Orban said a SDS victory “would ensure the survival of the Slovenian people”.

According to Slovenian media reports, Mr Jansa’s media campaign was also boosted by investments totalling about €2 million from Hungarian media companies in a TV station and newspaper co-owned by SDS.

For the first time in more than a decade, the elections took place against a backdrop of strong economic growth rather than financial crisis or recession.

But Mr Cerar’s government did not reap any political benefit from the turnaround, with his rivals focusing on growing hospital waiting lists and demands for higher pensions and wages and a better business environment.

Analysts say that in the near future political instability may well persist, whether under a right-wing Jansa-led government or one from the centre-left.

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

Generation Start-up: Awok company profile

Started: 2013

Founder: Ulugbek Yuldashev

Sector: e-commerce

Size: 600 plus

Stage: still in talks with VCs

Principal Investors: self-financed by founder

The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

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.”

Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
​​​​​​​Release Date: April 10

The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

World%20Cup%202023%20ticket%20sales
%3Cp%3EAugust%2025%20%E2%80%93%20Non-India%20warm-up%20matches%20and%20all%20non-India%20event%20matches%0D%3Cbr%3EAugust%2030%20%E2%80%93%20India%20matches%20at%20Guwahati%20and%20Trivandrum%0D%3Cbr%3EAugust%2031%20%E2%80%93%20India%20matches%20at%20Chennai%2C%20Delhi%20and%20Pune%0D%3Cbr%3ESeptember%201%20%E2%80%93%20India%20matches%20at%20Dharamsala%2C%20Lucknow%20and%20Mumbai%0D%3Cbr%3ESeptember%202%20%E2%80%93%20India%20matches%20at%20Bengaluru%20and%20Kolkata%0D%3Cbr%3ESeptember%203%20%E2%80%93%20India%20matches%20at%20Ahmedabad%0D%3Cbr%3ESeptember%2015%20%E2%80%93%20Semi-finals%20and%20Final%3C%2Fp%3E%0A

Motori Profile

Date started: March 2020

Co-founder/CEO: Ahmed Eissa

Based: UAE, Abu Dhabi

Sector: Insurance Sector

Size: 50 full-time employees (Inside and Outside UAE)

Stage: Seed stage and seeking Series A round of financing 

Investors: Safe City Group