Brazil's presidential election is heading for a run-off after no candidate achieved more than a 50 per cent majority in the first round of voting.
As millions turned out to vote, far-right President Jair Bolsonaro's surprising first round strength upset leftist Luiz Inacio Lula da Silva's hopes of winning outright.
With 99.7 per cent of electronic votes counted, Lula was ahead with 48.4 per cent of votes versus 43.3 per cent for Mr Bolsonaro, Brazil's electoral authority reported on Sunday.
As neither got a majority of support, the race will go to a second-round vote on October 30.
Several opinion surveys had shown Mr da Silva, popularly referred to as Lula and who was president from 2003 to 2010, leading Mr Bolsonaro by 10 to 15 percentage points ahead of Sunday's vote — a much tighter result than expected in the world's fourth-largest democracy.
Mr Bolsonaro had questioned polls that showed him losing in the first round, saying they did not capture enthusiasm he saw on the campaign trail. He has also attacked the integrity of Brazil's electronic voting system without evidence, suggesting he might not concede if he lost.
Observers had said a wide margin of victory for Mr da Silva could sap Mr Bolsonaro of support to challenge the electoral results. But Sunday's vote, extending a tense and violent election by another four weeks, revitalised his campaign.
“The extreme right is very strong across Brazil,” Carlos Melo, a political scientist at the Insper business school, told Reuters.
“Lula's second-round victory is now less likely. Bolsonaro will arrive with a lot of strength for re-election.”
Mr da Silva put an optimistic spin on the result, saying that it would only postpone his victory and that he looked forward to going head-to-head with Mr Bolsonaro in a debate.
“We can compare the Brazil he has built to the one we built,” he told reporters.
Mr Bolsonaro was also calm and confident in his post-election remarks, disparaging polling firms for failing to gauge his support.
“I plan to make the right political alliances to win this election,” he told journalists, pointing to significant advances his party made in Congress in Sunday's general election.
His right-wing allies won 19 of the 27 seats that were up from grabs in the Senate, and initial returns suggested a strong showing for his base in the lower house.
Outside Mr Bolsonaro's family home in Rio de Janeiro's Barra da Tijuca neighbourhood the mood was upbeat.
Maria Lourdes de Noronha, 63, said only fraud could prevent a Bolsonaro victory, adding that “we will not accept it” if he loses. “The polls in our country, the media, and journalists, are liars, rascals, shameless,” she said.
Although Mr da Silva left the presidency 12 years ago with record popularity, he is now disliked by many Brazilians after he was convicted of accepting bribes and jailed during the last election.
His conviction was overturned by the Supreme Court, allowing him to run again for president this year, along with nine other candidates from smaller parties.
Scandals
A career politician, Mr Bolsonaro rode a backlash against Mr da Silva Workers Party to victory in 2018, uniting strands of Brazil's right, from evangelical Christians to farming interests and pro-gun advocates.
He has dismantled environmental and indigenous protections to the delight of commercial farmers and wildcat miners, while appealing to social conservatives with an anti-gay and anti-abortion agenda.
His popularity has suffered since the coronavirus pandemic, which he called a “little flu” before Covid-19 killed 686,000 Brazilians. Corruption scandals also forced ministers out of his government and focused a harsh spotlight on his sons.
Yet Sunday's vote shows his support is far from collapsing.
Mr da Silva's proposals for Brazil have been light on details, but he promises to improve the fortunes of Brazil's poor and working classes, as he did as president from 2003 to 2010, when he lifted millions out of poverty and burnished Brazil's global influence.
While in power, Mr da Silva's approval rating soared as he expanded Brazil's social safety net amid a commodity-driven economic boom. But in the years after he left office, the economy collapsed, his hand-picked successor was impeached and many of his associates went to prison as part of a vast corruption scandal.
Mr da Silva spent 19 months in jail for bribery convictions that were thrown out by the Supreme Court last year.
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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.”
Bio
Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro
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
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
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