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Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Boeing to sell some assets to Thoma Bravo

The $10.55 bn sale includes portions of digital aviation solutions business.

TSMC first-quarter net profit soars

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Mubadala Energy enters US energy market

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Ultraconservative cleric Ebrahim Raisi ahead in partial results from Iran’s presidential election

    • Raisi is seen as close to the 81-year-old supreme leader, Ayatollah Ali Khamenei, who has ultimate political power in Iran

    • Raisi’s only rival from the reformist camp was the low-profile former central bank chief Abdolnaser Hemmati

    Iran was Saturday set to announce the winner of a presidential election in which ultraconservative cleric Ebrahim Raisi was seen as all but certain to emerge victorious over his three low-profile rivals.

    If elected, Raisi, 60, would take over from moderate Hassan Rouhani at a time the Islamic republic is seeking to salvage its tattered nuclear deal with major powers and free itself from punishing US sanctions that have driven a painful economic downturn.

    Raisi, the head of the judiciary whose black turban signifies direct descent from Islam’s Prophet Mohammed, is seen as close to the 81-year-old supreme leader, Ayatollah Ali Khamenei, who has ultimate political power in Iran. Voting on Friday was extended by two hours past the original midnight deadline amid fears of a low turnout of 50 percent or less.

    Many voters chose to stay away after the field of some 600 hopefuls was winnowed down to seven candidates, all men, excluding an ex-president and a former parliament speaker.

    Three of the vetted candidates dropped out of the race two days before Friday’s election, and two of them threw their support behind Raisi.

    Former populist president Mahmoud Ahmadinejad, one of those who were disqualified by the powerful 12-member Guardian Council of clerics and jurists, joined those who said they would not cast their ballot.

    Raisi’s only rival from the reformist camp was the low-profile former central bank chief Abdolnaser Hemmati, 65, who had polled in the low single digits before the election.

    Iran’s electorate, of now almost 60 million eligible voters, has delivered surprise results before, observers warn. If no clear winner emerges, a runoff will be held next Friday.