A British politics professor with a history of correctly predicting major UK developments has named his favourites to replace outgoing prime minister Boris Johnson, but also said it will be a close race.
Jonathan Tonge, from Liverpool University, thinks Rishi Sunak will win after opponents failed to land punches in the early rounds of campaigning, but he can see a strong challenge from Liz Truss.
“Without any confidence at all, I’d say Rishi Sunak will become the next prime minister,” he said.
“But I think it’s a 51/49 call because Liz Truss plays pretty well with the Tory party members too.
“I think the members could see Sunak as a slightly more plausible prime minister than Truss because I don’t think they are quite as obsessed about tax cuts as has been popularly supposed.
“The Conservative party members are obsessed with Brexit, and in that sense Sunak has the upper hand over Truss because he is the longer-term Brexiteer.”
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Candidates Rishi Sunak and Liz Truss at the Conservative Party leadership election hustings at Wembley Arena, London. This was the final hustings attended by Tory Party members who will vote for the new leader and next prime minister. EPA -

Liz Truss addresses Conservative Party members at Wembley Arena. AP -

Mr Sunak puts forward his case to be leader while speaking at Wembley Arena. Bloomberg -

Mr Sunak visits his family's old business, Bassett Pharmacy in Southampton, while on the campaign trail. Reuters -

Ms Truss speaks to staff at Condimentum Ltd at the Food Enterprise Park in Norwich. Getty Images -

A Rishi Sunak supporter at a hustings event in Norfolk. PA -

Mr Sunak greets people at a leadership hustings in Manchester. Bloomberg -

Ms Truss poses for a selfie with a supporter as she arrives for the event in Manchester. Getty -

Rishi Sunak looks through the sights of an anti-tank missile launcher, supplied to Ukraine, during a visit to the Thales Defence System plant in Belfast, Northern Ireland. AP -

Liz Truss at a Conservative Party leadership campaign event in Belfast. Getty -

Liz Truss meets supporters before a hustings in Perth, Scotland. Getty -

Rishi Sunak speaks during a campaign visit to Cluny Castle in Inverurie, Scotland. Getty -

Police hold back protesters outside Perth Concert Hall, Scotland, where Conservative leadership candidates Liz Truss and Rishi Sunak were speaking. PA -

A mural showing the two leadership contestants appears on a wall in Belfast, Northern Ireland. AP -

Rishi Sunak during a visit to St John's Wood Synagogue, north London. PA -

Liz Truss at the Conservative Party leadership election hustings in Cheltenham. EPA -

Rishi Sunak during a hustings event in Cheltenham. Reuters -

Liz Truss speaks to scientists during a campaign visit to a life sciences laboratory at Alderley Park in Manchester. PA -

Rishi Sunak during a campaign hustings in Darlington, England. Bloomberg -

Liz Truss meets party members before she speaks at the Darlington campaign hustings. Getty -

Rishi Sunak arrives for the Darlington hustings. Getty -

Liz Truss plays pool during a visit to the Onside Future Youth Zone in London. Reuters -

Rishi Sunak looks at a book with Teddy Openshaw, 4, as his father, Henry, looks on after a Conservative leadership campaign event in Ribble Valley, Lancashire, England. Getty -

Liz Truss plays table tennis with former Conservative party leader Iain Duncan Smith during a visit to the Onside Future Youth Zone in London. Reuters -

Liz Truss with supporters at a campaign event in Solihull, England. Reuters -

Rishi Sunak attends a campaign event held by his party in Bexhill, England. Reuters -

A protester is removed as Ms Truss speaks during the Conservative Party leadership hustings in Eastbourne. Bloomberg -

Mr Sunak speaks at an event in Edinburgh. PA -

Ms Truss leaves the hall in Exeter, south-west England, after her speech to a Conservative Party membership hustings. Getty -

Mr Sunak speaks at the University of Exeter in south-west England. AP -

A supporter of Ms Truss at a Conservative Party hustings in Exeter, south-west England. Getty -

Ms Truss at a hustings event at the Pavilion conference centre at Elland Road in Leeds. PA -

Mr Sunak in Salisbury watching a screening of the Uefa Women's Euro 2022 final between England and Germany at Wembley stadium. England won 2-1 in extra time. PA -

Ms Truss before the Uefa Women's Euro 2022 final at Wembley stadium in London. AFP -

Mr Sunak meets Tory members at Fontwell Park Racecourse. Reuters -

Ms Truss at an event in Dereham, Norfolk. AFP -

Mr Sunak in Ropley, near Winchester, Hampshire. PA -

Ms Truss speaks as Conservative Member of Parliament Tom Tugendhat looks on at a Conservative Party leadership campaign event at Biggin Hill Airport. Getty -

Ms Truss on the campaign trail in Woodford Green, on the outskirts of London. Reuters -

Mr Sunak at a Conservative Party hustings event in Leeds. AFP -

Ms Truss speaks at the hustings event in Leeds. AFP -

Sunak and Truss-themed souvenirs at a stand during the Leeds hustings event. Reuters -

Ms Truss, and her mother, Patricia, arrive for the hustings event. Getty -

Ms Truss poses with supporters in Morley, England. Getty -

Mr Sunak delivers a speech during a campaign event in Newmarket. AFP -

Ms Truss and Jake Berry, MP for Rossendale and Darwen, during a visit to a broadband interchange company in Leeds. PA -

Mr Sunak answers questions as he takes part in the hustings in Leeds. AFP -

Ms Truss speaks at an event at a private house with members of the Conservative Party in Woodford Green. PA -

Ms Truss and Mr Sunak pose for a picture before a BBC leadership debate at Victoria Hall in Hanley. Getty -

Ms Truss addresses Mr Sunak during the televised debate. Getty -

Mr Sunak, with daughters Krishna and Anushka, and wife Akshata Murthy, during a visit to Vaculug tyre specialists at Gonerby Hill Foot, Grantham. PA -

Ms Truss speaks to people while campaigning in Marden. Getty -

Ms Truss celebrates after being named, along with Mr Sunak, one of the final two candidates in the race to become the UK's next prime minister. PA -

Mr Sunak outside his campaign office in central London. EPA -

Ms Truss outside Downing Street in London. Reuters -

Rishi Sunak meets Conservative Party members and activists, in Teesport, Redcar. Reuters -

Conservative leadership candidates Mr Sunak, Ms Truss, Kemi Badenoch, presenter Julie Etchingham, Tom Tugendhat and Penny Mordaunt during 'Britain's Next Prime Minister: The ITV Debate' in London. EPA -

Ms Badenoch arrives at Here East studios in Stratford, east London, before a live television debate. PA -

Mr Sunak arrives at a London event to launch his campaign to be the next Conservative Party leader and UK prime minister. Reuters -

Mr Tugendhat appears on the BBC One current affairs programme, 'Sunday Morning'. PA -

Ms Badenoch, Ms Mordaunt, Mr Sunak, Ms Truss and Mr Tugendhat before the live television debate. PA -

Ms Mordaunt arrives for the launch of her Conservative leadership campaign at the Cinnamon Club in Westminster. PA -

Ms Truss speaks at the launch event for her campaign to become the next leader of the Tory Party and Britain's prime minister, in London. EPA -

Chancellor of the Exchequer Nadhim Zahawi, one of the candidates who has been knocked out of the race, giving a speech at the Churchill War Rooms. PA -

Former leadership candidate Jeremy Hunt appearing on the BBC One current affairs programme, 'Sunday Morning'. PA -

Sajid Javid attending the launch of his campaign to be Conservative Party leader and prime minister, at the Cinnamon Club in London. He has since been knocked out of the contest. PA -

Rehman Chishti is interviewed after announcing his bid to become the next prime minister. Mr Chishti is no longer in the race. Getty -

Mr Tugendhat speaking at the launch of his campaign. PA -

Culture Secretary Nadine Dorries and Conservative MP Iain Duncan Smith arrive for the Truss campaign launch event. Getty -

Former leadership candidate Attorney General Suella Braverman at the Churchill War Rooms in central London. PA -

Supporters of Mr Sunak wait for his arrival ahead of the campaign launch. Bloomberg -

Mr Tugendhat makes a speech at the launch of his campaign. PA -

Mr Javid mops his brow while launching his campaign. Getty -

Ms Truss leaves for work after her announcement that she would be running for the leadership of the Conservative Party. Getty
He thinks Penny Mordaunt still has an outside chance if she makes it through the MPs’ voting stage to the final round when party members pick the winner from the two horses that remain in the race.
The eight candidates who made it to the MPs vote are Kemi Badenoch, Suella Braverman, Jeremy Hunt, Penny Mordaunt, Rishi Sunak, Liz Truss, Tom Tugendhat and Nadhim Zahawi.
The leadership election was sparked after Mr Johnson was forced to step down after a scandal involving MP and deputy whip Chris Pincher.
It was the latest in a string of controversies for the government that included partygate — where government officials held Covid lockdown-defying parties — the refurbishing of the prime ministerial flat and ethical shortcomings.
Ms Mordaunt is a strong contender who could make it to the final round of voting, said Prof Tonge, who has a strong record of political forecasting.
“Unlike Truss, Mordaunt was a Brexiteer from the start, and there’s clearly a ‘stop Rishi’ campaign, where MPs will place their vote for the final two candidates based on who they think is likeliest to beat him in the final vote.
“If they think the Tory party membership, who cast the final ballot, cares more about Brexit than tax cuts, they’ll choose Mordaunt. I think Truss will probably shade it before Mordaunt.”
He the said:: “Sunak also looks the part of PM marginally more than Truss.
“He’s a polished performer who understands economics and the gravity of the economic situation better than any of his rivals.”
The biog
Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."
Favourite author: Malcom Gladwell
Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
CHATGPT%20ENTERPRISE%20FEATURES
Transgender report
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.”
Global state-owned investor ranking by size
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United States |
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China |
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UAE |
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Japan |
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Norway |
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Canada |
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Singapore |
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Australia |
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Saudi Arabia |
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South Korea |
Zayed Sustainability Prize
1,000 Books to Read Before You Die: A Life-Changing List
James Mustich, Workman
Who are the Soroptimists?
The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.
The organisation said its name is best interpreted as ‘the best for women’.
Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
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