Would-be successors to Boris Johnson were today preparing their leadership bids after the prime minister fired the starting gun in the race to become the next UK leader.
After an extraordinary 48 hours in which dozens of ministers, aides and MPs quit or withdrew their support, Mr Johnson resigned on Thursday as Conservative leader.
In his unrepentant resignation speech in Downing Street, he blamed the “herd” mentality of parliament for turning against him and said he had tried, unsuccessfully, to persuade colleagues that it would be “eccentric” to change governments at this time.
He offered no contrition for the scandals of “partygate” or his handling of the sexual harassment claims surrounding Chris Pincher as deputy chief whip.
Mr Johnson, 58, said he intended to remain prime minister until a new leader of the Conservative Party is found, a process which could take months.
However, calls are building for him to leave immediately and for an acting leader to head the world's fifth-largest economy.
Polling suggested most Britons favour his rapid exit, as claims surfaced that Mr Johnson was only hanging on to enjoy a wedding party with wife Carrie at his government-funded country retreat Chequers.
Who could replace Boris Johnson?
With no clear front-runner, about a dozen potential candidates — including backbenchers as well as ministers — are thought to be considering a challenge to become Tory leader.
Polling among MPs is expected to begin as early as Wednesday with a second round the next day, that should whittle the field down considerably.
Rishi Sunak, the former Chancellor, was the first big name to put himself forward as the next prime minister. His annoucement on Friday afternoon was very quickly endorsed by two senior Tories, former chief whip Mark Spencer and Laura Trott, a ministerial aide.
"I’m standing to be the next leader of the Conservative Party and your Prime Minister," Mr Sunak tweeted. "Let’s restore trust, rebuild the economy and reunite the country."
The Commons' Foreign Affairs Committee chairman Tom Tugendhat threw his hat in the ring early, saying he was putting together a “broad coalition” offering a “clean start”.
Writing in The Daily Telegraph, the former soldier said: “I have served before — in the military, and now in Parliament. Now, I hope to answer the call once again as prime minister.”
Being among the first to annuonce has seen former army officer gain early support among MPs with five now saying they will vote for him, including former ministers Damian Green and Stephen Hammond. MR Hammond said the next leader must have “integrity” to “restore lost trust in the government”.
While Mr Tugendhat, 49 does not have any experience running a government department, his integrity and clear-headed approach have won supporters. He is also a fluent Arabic speaker, learnt from his time in Yemen and several months spent in Beirut.
The MP is widely versed on Middle East issues and spoke out against the US and British decision to precipitately abandon Afghanistan last year.
Another person who The National understands has decided to enter the contest is the Transport Secretary Grant Shapps, who is respected for the effective and competent running of his department.
He was also a strong advocate for a rapid return to air travel after the Covid-19 pandemic.
Mr Shapps was a loyal supporter and friend of Mr Johnson — having run his leadership campaign in 2019 — but was among the coterie of Cabinet ministers who urged him to resign on Wednesday evening.
That could win him respect among MPs and Mr Johnson might also lend him support.
Attorney General Suella Braverman and Brexiteer Steve Baker have also shown interest.
Among the early favourites are former chancellor Rishi Sunak — who quit on Tuesday, helping to set off several ministerial resignations — and the man who succeeded him, Nadhim Zahawi.
Foreign Secretary Liz Truss, who was returning early from an international gathering in Indonesia, and Defence Secretary Ben Wallace are both thought to have significant support.
Graham Stuart, a new Foreign Office minister, publicly backed Mr Wallace if he decided to enter the race saying he was competent, had integrity and "a history of serving the nation".
Another minister considering a run is Cabinet Office Minister Penny Mordaunt.
From outside the government, former health secretary Sajid Javid, who also quit on Tuesday, and Jeremy Hunt, who was runner-up to Mr Johnson in 2019, may also stand.
Calls to speed departure
Former prime minister Sir John Major was among those backing calls for Deputy Prime Minister Dominic Raab to be installed as a caretaker prime minister until a permanent successor is in place.
Alternatively, he suggested a foreshortened leadership contest with Tory MPs electing the new leader who would then take office while party members in the country would be asked to endorse their choice.
Opposition leader Keir Starmer has threatened a confidence vote in parliament in an attempt to hasten Mr Johnson's departure, while Scottish first minister Nicola Sturgeon said Mr Johnson hanging around “would cause chaos”.
On Friday, Lib Dem leader Sir Ed Davey said Mr Johnson should go immediately “as he can't be trusted”.
Newly appointed Education Secretary James Cleverly, the government minister put forward for the morning media round, said on Friday that he did not agree with calls for Mr Johnson to stand down immediately.
The Conservative Party needs to hold a full contest to find the best leader, Mr Cleverly said.
“[Mr Johnson] remains prime minister until a new prime minister is found; that's how our system works,” he told Sky News.
“I think that everyone recognises the incentive of doing that properly and professionally but quickly, so that we can get some certainty.”
In an “ideal world”, Mr Raab would have been the caretaker prime minister but “that ship has sailed”, the treasurer of the 1922 Committee which runs Tory leadership contests said.
Sir Geoffrey Clifton-Brown told BBC’s Today programme: “They decided that Boris Johnson should remain and he has said very clearly that he won’t be making any major changes during that period. And I think that is a good thing.
“Those ministers who are coming back in a caretaker role, having had resigned [from] work, it will be a little awkward for them.”
There is recent precedent for prime ministers to remain in place until a new leader is found — Margaret Thatcher, Tony Blair, David Cameron and Theresa May all resigned in office rather than being defeated at an election, and stayed until a successor was chosen.
At a meeting of the Cabinet on Thursday, Mr Johnson sought to reassure ministers he would not seek to introduce any new policies in his remaining time in office and would leave any major tax and spending decisions to the next prime minister.
But after he made clear his frustration at the way he had been forced out by an unprecedented wave of ministerial resignations, many in the party remain deeply suspicious of his intentions.
George Freeman, one the last ministers to quit before Mr Johnson made his announcement, said the tone of his address did not suggest he would see out his time with “quiet humility and contrition”.
“My real worry is the instability will fuel a febrile moment of midsummer madness, where we choose the wrong person in a hurry because of the instability,” he said.
On Monday, elections will take place to the executive of the backbench 1922 Committee, which will then set out the rules and timetable for the leadership contest.
Under current rules, MPs will vote in a series of secret ballots — depending on how many candidates there are — with the final two going forward to a vote of the membership.
In a sign of what could be a bruising contest, Brexit Opportunities Minister Jacob Rees-Mogg, a Johnson loyalist, launched a stinging attack on Mr Sunak’s record at the Treasury.
“Rishi Sunak was not a successful chancellor. He was a high tax chancellor, and he was a chancellor who was not alert to the inflationary problem,” he told Channel 4 News. He is understood to have the backing of former senior ministers Oliver Dowden and Robert Jenrick.
Former Tory minister Andrew Mitchell said the next resident of No 10 needed to be someone “patently moral” who is “uncontaminated” by the previous tenant’s “mistakes”.
He told the BBC: “We need to have a leader who is unsullied, uncontaminated, if you like, by the mistakes. Particularly in the tone of the government, as well as some of its action, it needs to be someone clearly with experience. Finally, I think it does need to be someone who is patently moral and decent.”
Rachel Wolf, co-author of the 2019 Conservative manifesto and founder of polling company Public First, said a measured leadership race should take place.
“A really fast contest would be terrible,” she told the Times.
“There are some massive choices that haven’t been resolved by this government and which will split voters, the party, or both.”
Mr Johnson's tumultuous three years in office were defined by Brexit, the Covid-19 pandemic and non-stop controversy, which resulted in a police fine for breaching his own Covid rules and anger at his deceitful handling of a sexual harassment scandal involving one of his MPs.
On Thursday, he said he was “sad … to be giving up the best job in the world”, justifying his refusal initially to surrender by claiming a personal mandate in the Brexit-dominated general election of December 2019.
Johnson's new Cabinet
Even while eyeing the exit, Mr Johnson sought to steady the ship, making several appointments to replace departed Cabinet members.
They included Greg Clark, an arch “remainer” opposed to Britain's divorce from the EU, which Mr Johnson had championed.
The inexperienced Shailesh Vara was put in charge of Northern Ireland, with the government locked in battle with Brussels over post-Brexit trading rules for the tense territory.
Irish Prime Minister Micheal Martin said Johnson's exit was a chance to reset “strained and challenged” relations.
Convening the new-look Cabinet after his resignation speech, Mr Johnson confirmed his lame-duck status by saying “major fiscal decisions should be left for the next prime minister”, according to Downing Street.
Boris Johnson through the years — in pictures
Wonka
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Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
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
NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
Company%20profile
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Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
KILLING OF QASSEM SULEIMANI
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
CRICKET%20WORLD%20CUP%20LEAGUE%202
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MATCH INFO
Watford 1 (Deulofeu 80' p)
Chelsea 2 (Abraham 5', Pulisic 55')
BRAZIL SQUAD
Alisson (Liverpool), Daniel Fuzato (Roma), Ederson (Man City); Alex Sandro (Juventus), Danilo (Juventus), Eder Militao (Real Madrid), Emerson (Real Betis), Felipe (Atletico Madrid), Marquinhos (PSG), Renan Lodi (Atletico Madrid), Thiago Silva (PSG); Arthur (Barcelona), Casemiro (Real Madrid), Douglas Luiz (Aston Villa), Fabinho (Liverpool), Lucas Paqueta (AC Milan), Philippe Coutinho (Bayern Munich); David Neres (Ajax), Gabriel Jesus (Man City), Richarlison (Everton), Roberto Firmino (Liverpool), Rodrygo (Real Madrid), Willian (Chelsea).
Company%20Profile
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Day 2, Dubai Test: At a glance
Moment of the day Pakistan’s effort in the field had hints of shambles about it. The wheels were officially off when Wahab Riaz lost his run up and aborted the delivery four times in a row. He re-measured his run, jogged in for two practice goes. Then, when he was finally ready to go, he bailed out again. It was a total cringefest.
Stat of the day – 139.5 Yasir Shah has bowled 139.5 overs in three innings so far in this Test series. Judged by his returns, the workload has not withered him. He has 14 wickets so far, and became history’s first spinner to take five-wickets in an innings in five consecutive Tests. Not bad for someone whose fitness was in question before the series.
The verdict Stranger things have happened, but it is going to take something extraordinary for Pakistan to keep their undefeated record in Test series in the UAE in tact from this position. At least Shan Masood and Sami Aslam have made a positive start to the salvage effort.
FINAL SCORES
Fujairah 130 for 8 in 20 overs
(Sandy Sandeep 29, Hamdan Tahir 26 no, Umair Ali 2-15)
Sharjah 131 for 8 in 19.3 overs
(Kashif Daud 51, Umair Ali 20, Rohan Mustafa 2-17, Sabir Rao 2-26)
UFC%20FIGHT%20NIGHT%3A%20SAUDI%20ARABIA%20RESULTS
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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.”
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
SPEC%20SHEET%3A%20APPLE%20IPHONE%2014%20PRO%20MAX
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Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
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