Iranian presidential candidate Mohammad Bagher Ghalibaf, pictured here speaking during a rally on May 14, 2017 in the city of Varamin, has withdrawn from the race. Abedin Taherkenareh / EPA
Iranian presidential candidate Mohammad Bagher Ghalibaf, pictured here speaking during a rally on May 14, 2017 in the city of Varamin, has withdrawn from the race. Abedin Taherkenareh / EPA

Iran presidential election: Conservative candidate Ghalibaf withdraws



TEHRAN // Tehran mayor Mohammad Bagher Ghalibaf withdrew from Iran’s presidential race on Monday, paving the way for a head-to-head battle between president Hassan Rouhani and the leading hardline challenger in this week’s election.

Mr Ghalibaf called on his supporters to back conservative cleric and jurist Ebrahim Raisi in Friday’s vote, saying it was vital for the “preservation of the interests of the people, the revolution and the country”.

Unofficial polls still show Mr Rouhani, a moderate cleric who has sought to improve civil liberties and rebuild ties with the West, as the front-runner.

But he has faced a harder-than-expected challenge from the conservatives due to the continued stagnation of the economy.

Mr Raisi, a former prosecutor-general and close ally of supreme leader Ayatollah Ali Khamenei, has called for a more assertive approach to the West and a focus on building a self-sufficient “resistance economy”.

This had been Mr Ghalibaf’s third bid for the presidency. In 2013, he was a runner-up to Mr Rouhani.

A former police chief and member of the Revolutionary Guards, he has played on his tough-guy image in the past, but this year targeted his campaign against the wealthy elite, who he dubbed the “four-per-centers”.

“A fundamental and crucial decision must be taken for the unity of the revolutionary front,” Mr Ghalibaf wrote in a statement announcing his withdrawal.

“To protect this great ideal, I ask all of my supporters across the country to offer all of their support to the success of our dear brother Ebrahim Raisi.”

He launched brutal tirades against Mr Rouhani and his reformist allies in televised debates between the presidential candidates, accusing them of corruption and failing to support the poor.

“The expectation of us and the people is that this decision sets the stage for a new era of economic transformation that, by cutting off the four-per-centers from the economy, will lead to youth employment and support for the underprivileged and poor in Iran,” he said.

“The fight has just begun.”

Mr Rouhani’s government signed a 2015 nuclear deal with world powers that ended some sanctions in exchange for curbs to Iran’s nuclear programme.

But it has struggled to attract the large-scale foreign investments Mr Rouhani promised when the deal came into force, and which he said were necessary to reduce unemployment and kick-start the economy.

Mr Raisi, is currently the head of the powerful Imam Reza shrine and charitable foundation in the holy city of Mashhad and, in addition to attracting support from traditional conservatives, is seen as the favoured candidate of the security establishment.

Three other candidates – reformists Eshaq Jahangiri and Mostafa Hashemataba, and conservative Mostafa Mirsalim – are also standing in the election, though they are considered relatively marginal figures who may also withdraw before the vote.

Iran’s elections are similar to the French system in which a second round run-off is held between the top two candidates unless one wins 50 per cent or more in the first round.

Mr Rouhani became president after just one round of voting in 2013, after squeaking through with 50.7 per cent of the vote.

* Agence France-Presse

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Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Ahmed Raza

UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

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Rating: 3.5/5

A State of Passion

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Stars: Dr Ghassan Abu-Sittah

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The struggle is on for active managers

David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.

The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.

Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.

Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.

Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.

At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn. 

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Power: 420kW

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Director: Andres Muschietti

Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor

Three stars

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Time; race; prize; distance

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4.35pm: Maiden (T); Dh150,000; 1,600m
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Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.

The Emirates is the world’s third largest per capita water consumer after the US and Canada.

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

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