MINSK // Belarus went to the polls on Sunday in presidential elections expected to hand a fourth term to its unpredictable strongman Alexander Lukashenko, extending his grip on power for another five years.
Lukashenko, who has been at the helm of this poor former Soviet republic of 10 million for the past 16 years, is running against an array of nine opposition candidates.
The mercurial Lukashenko has in recent months infuriated Russia by seeking to align Belarus closer to the EU but also received last-minute concessions from the Kremlin ahead of the polls.
He is widely expected to sail to victory, extending his grip on power for another five years and the main uncertainty is whether the opposition will manage to bring significant numbers of supporters out onto the streets for protests on Sunday night.
The sidelined opposition candidates hope to muster a large protest on the central square in the capital Minsk after polls close at 8 pm (1800 GMT) later in the day.
To prevent possible rallies, the authorities turned the square into a giant ice rink decorating it with a Christmas tree, the city's largest. And authorities warned that any protests would be firmly put down.
The opposition has said the ice would not prevent them from staging a rally and even came up with a rhyming slogan that calls on supporters to bring bags of salt and sand to the square to battle the ice.
The opposition candidates have already declared the elections fraudulent despite being given more freedom to campaign and access to national airtime for each candidate -- unprecedented measures seen as Lukashenko's attempts to receive recognition from Europe.
"Such a high number of candidates automatically means a run-off," said opposition's Andrei Sannikov as he cast his ballot, "if they tell us there is no run-off it will be deception and lies and we will protest."
Lukashenko will need to garner 50 percent of the vote to claim victory and even opposition supporters say his victory is a foregone conclusion.
The opposition has also repeatedly said they feared the results would be skewed in favour of Lukashenko and denounced the controversial practice of early voting.
Just over 23 per cent of Belarussians voted early, the Central Election Commission said.
"They made us vote early," said Olga, a student who signed up to act as an independent observer at a polling station in the snow-blanketed capital.
"On Saturday we counted 50 people who came in to vote, but then there were 180 ballots in the box, and today the box disappeared," said Olga, who declined to give her last name.
But many in Belarus say they choose stability, scoffing at the opposition's calls to come to the square.
"I voted for Lukashenko. I may have voted for the opposition if it weren't for their appeals to go to protest," said pensioner Valentina, who declined to give her last name.
"That won't lead to anything good, Ukraine is a good example," she said.
State media have accused the opposition of attempting to organise a "colour revolution" similar to mass rallies that ousted the old regime in Georgia and Ukraine, also former Soviet republics, after disputed elections in 2003 and 2004 respectively.
Once accused by the United States of running Europe's "last dictatorship", Lukashenko has earned notoriety for antics such as dressing his young son, reportedly born out of wedlock, in full military uniform for parades -- but also for not tolerating dissent.
US diplomats have referred to Lukashenko as a "clearly disturbed" man who "intends to stay in power indefinitely", according to a WikiLeaks cable published by the Guardian on Friday.
Lukashenko has shown no willingness to cede or share power, instead saying recently that after 16 years in power he only now has the experience to be a real president and warning against protests.
Only the election that brought Lukashenko to power in 1994 was acknowledged by monitors as fair. International observers said the 2001 and 2006 polls fell well short of democratic standards.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Results
Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
4. Sergio Higuita (COL) EF Education-Nippo 00:00:05
5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates 17:09:26
2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
4. Chris Harper (AUS) Team Jumbo-Visma 00:01:54
5. Neilson Powless (USA) EF Education-Nippo 00:01:56
UAE currency: the story behind the money in your pockets
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
MATCH INFO
Austria 2
Hinteregger (53'), Schopf (69')
Germany 1
Ozil (11')
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.”
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UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
Company%20Profile
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Rashid & Rajab
Director: Mohammed Saeed Harib
Stars: Shadi Alfons, Marwan Abdullah, Doaa Mostafa Ragab
Two stars out of five
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Ireland (15-1):
Ireland (15-1): Rob Kearney; Keith Earls, Chris Farrell, Bundee Aki, Jacob Stockdale; Jonathan Sexton, Conor Murray; Jack Conan, Sean O'Brien, Peter O'Mahony; James Ryan, Quinn Roux; Tadhg Furlong, Rory Best (capt), Cian Healy
Replacements: Sean Cronin, Dave Kilcoyne, Andrew Porter, Ultan Dillane, Josh van der Flier, John Cooney, Joey Carbery, Jordan Larmour
Coach: Joe Schmidt (NZL)