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DAWN, NATION, THE NEWS (Pakistan), BBC, THE GUARDIAN (UK)

Worldcrunch

ISLAMABAD - Following the contested Pakistani elections, marred by accusations of voter fraud, several candidates participated in nationwide sit-in protests Monday, writes The News.

Muslim League leader, Nawaz Sharif claimed victory in Saturday’s polls, but was short of a clear majority.

“There was total rigging. We are taking feedback from our candidates in the province and will present the evidence before the media soon,” secretary general of the Pakistan People’s Party, Sardar Latif Khosa told Dawn. The party, formerly headed by the late Benazir Bhutto, reportedly managed to only secure one seat in Parliament and are said to be meeting on Monday to discuss new leadership.

Although the final results are days away, projections by local television stations suggest that Sharif only requires the support of a handful of independent candidates, rather than rival parties, to secure a working majority in parliament, reports The Guardian.

Former cricketer Imran Khan, whose Movement for Justice Party (PTI) is in a close fight for second place, has promised to provide genuine opposition, says the BBC. He also added that his party was in process of collecting evidence of alleged vote-rigging.

Sharif has already been congratulated by many heads of state, including Barack Obama and neighboring Indian Prime Minister, Manmohan Singh. Both have said they look forward to working with Sharif, writes Nation.

PM extends his congratulations to Mr. Nawaz Sharif and his party for their emphatic victory in Pakistan's elections.

— Dr Manmohan Singh (@PMOIndia) May 12, 2013

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Economy

Abenomics Revisited: Why Japan Hasn't Attacked The Wealth Divide

Japanese Prime Minister Fumio Kishida promised to tackle wealth inequality and help struggling workers. But a year after he came to power, financial traders are once again the winners.

Japanese workers will still have to wait for the distribution of wealth promised by Prime Minister Fumio Kishida.

Yann Rousseau

-Analysis-

TOKYO — Panic on the Nikkei, the Japanese stock market. Almost a year ago, at the end of September 2021, traders went into a panic in Tokyo. On Sept. 29, Fumio Kishida had just won the general election for the country's main conservative party, the Liberal Democratic Party. He was about to be named Prime Minister, succeeding Yoshide Suga, who'd grown too unpopular in the polls.

Kishida had won through a rather original reform program, which was in stark contrast with years of conservative pro-market politics. In his speeches, he had promised to generate a “new capitalism”. A phrase that makes investors shudder.

While he did not completely renounce his predecessors’ strategy called “Abenomics” — named after free-market stalwart Shinzo Abe, who was killed last July — Kishida declared that the government needed to tackle the issue of the redistribution of wealth in the island nation.

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