TEHRAN // The hardline Iranian president Mahmoud Ahmadinejad today won the country's election by a thumping margin, according to official results which his moderate challenger rejected as a "dangerous charade" that could lead to tyranny.
Mr Ahmadinejad has won 63 per cent of the vote in most electoral districts across Iran, the election chief Kamran Daneshjoo said, meaning the incumbent hardliner is assured of victory.
Kamran Daneshjoo said on state television that Mr Ahmadinejad received almost 21.8 million votes or 63.36 per cent out of nearly 34.4 million valid votes cast in 346 out of 366 electoral districts across the country.
He said Mr Ahmadinejad's closes rival, the more moderate ex-premier Mir Hossein Mousavi, garnered 11.7 million votes or 34.07 per cent.
In a distant third was the former head of the Revolutionary Guards Mohsen Rezai with almost 588,000 votes or 1.7 per cent while reformist ex-parliament speaker Mehdi Karroubi received almost 290,000 votes or 0.87 per cent.
The level of the incumbent's support, nearly twice as many votes as former Prime Minister Mirhossein Mousavi with most ballots counted from Friday's poll, confounded widespread expectations that the race would at least go to a second round.
Mr Mousavi protested against what he said were many obvious violations in Friday's presidential election.
He warned he would not bow to the "dangerous scenario" created in Iran after results showed he had lost to Mr Ahmadinejad.
Mr Mousavi said he "protested vigorously against the numerous and blatant irregularities" in Friday's vote and said it was his "national and religious duty to reveal the secrets of this dangerous process and to explain its destructive consequences for the future of the country".
"I'm warning I will not surrender to this dangerous charade. The result of such performance by some officials will jeopardise the pillars of the Islamic Republic and will establish tyranny," he said in a statement.
Iranian and Western analysts abroad greeted the results with disbelief. They said Mr Ahmadinejad's re-election would disappoint Western powers aiming to convince Iran to halt work they suspect is aimed at making bombs, and could further complicate efforts by the US president Barack Obama to reach out to Tehran.
"It doesn't augur well for an early and peaceful settlement of the nuclear dispute," said Mark Fitzpatrick at London's International Institute for Strategic Studies.
A bitterly fought campaign generated strong interest around the world and intense excitement inside Iran. It revealed deep divisions among establishment figures between those backing Mr Ahmadinejad and those pushing for social and political change.
Mr Ahmadinejad accused his rivals of undermining the Islamic Republic by advocating detente with the West. Mr Mousavi accused him of humiliating Iranians with an "extremist" foreign policy.
Listing several complaints before official results were announced, Mr Mousavi said late on Friday that many people had not been able to vote and that there was a lack of ballot papers.
He also accused authorities of blocking text messaging, with which his campaign tried to reach young, urban voters.
"I am the definite winner of this presidential election," Mr Mousavi told a news conference.
Trita Parsee, the president of the Washington-based National Iranian American Council, expressed disbelief at the wide margin in Mr Ahmadinejad's favour. "It is difficult to feel comfortable that this occurred without any cheating," Mr Parsee said.
"The potential for unrest is high," said Ali Ansari, who heads the Institute for Iranian Studies at St Andrews University in Scotland. "People will wake up today in Iran in shock."
*Agencies
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Company name: baraka
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Building boom turning to bust as Turkey's economy slows
Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.
Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.
The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.
After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.
The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.
The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.
But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.
It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.
Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
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.
Results
5pm: Maiden (PA) Dh 80,000 (Turf) 1,400m. Winner: Al Ajeeb W’Rsan, Pat Dobbs (jockey), Jaci Wickham (trainer).
5.30pm: Maiden (PA) Dh 80,000 (T) 1,400m racing. Winner: Mujeeb, Fabrice Veron, Eric Lemartinel.
6pm: Handicap (PA) Dh 90,000 (T) 2,200m. Winner: Onward, Connor Beasley, Abdallah Al Hammadi.
6.30pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown Prep Rated Conditions (PA) Dh 125,000 (T) 2,200m. Winner: Somoud, Richard Mullen, Jean de Roualle.
7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 (T) 1,600m. Winner: AF Arrab, Tadhg O’Shea, Ernst Oertel.
7.30pm: Handicap (TB) Dh 90,000 (T) 1,400m. Winner: Irish Freedom, Richard Mullen, Satish Seemar.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Virtual banks explained
What is a virtual bank?
The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.
What’s the draw in Asia?
Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.
Is Hong Kong short of banks?
No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year.