FirstFT: Tight race for Turkish presidency

Today’s big story is the elections in Turkey, with Recep Tayyip Erdoğan and Kemal Kılıçdaroğlu locked in a tight race for the Turkish presidency.

Both candidates claimed to be in the lead, but the latest poll suggested none of the 50% needed to win outright, suggesting the presidential election would go to a second round in two weeks.

Erdoğan won just under 50% of the vote, compared to just 44% for Kılıçdaroğlu, according to figures compiled by state news agency Anadolu, based on the 89% ballot count.

Anka, another outlet, put Kılıçdaroğlu at 45% and Erdoğan at 49%, based on 90% of ballots.

On Sunday, Kılıçdaroğlu allies objected to the data provided by Anadolu, arguing that the calculations had excluded areas where the opposition had performed well and claimed that Erdoğan’s Justice and Development Party (AKP) was slowing down the counting process by raising objections in opposition strongholds.

AKP spokesman Ömer Çelik, however, defended the Anadolu, saying it remained the main source of election reporting and that Kılıçdaroğlu’s Republican People’s Party (CHP) “attacks” constituted ” propaganda”. He said it was too early to declare a winner and called for patience.

Here’s what else I’m watching:

• Beijing is send a special envoy visit Ukraine, Russia, Germany, France and Poland, starting today.

• India’s April Wholesale Price Index (WPI) inflation rate measure is released today.

• Demonstrations are expected in Ramallah in the West Bank today to mark the Nakba, or ‘catastrophe’, when Palestinians were forced from their villages or fled amid the war surrounding the establishment of Israel.

Five other top stories

1. The G7 and the EU will ban imports of Russian gas on routes where Moscow has cut off supplies, THE for the first time pipeline gas trading was blocked by Western powers since the invasion of Ukraine.

2. Argentina plans emergency economic measures to avoid sharp devaluationincluding raise interest rates 600 basis points at 97%.

3. Thailand’s pro-democracy opposition parties have taken the lead in early poll results as voters rebuked the military in a contest that could herald the the country’s first transfer of power in a decade.

4. Shipping groups press Chinese counterparts for sanctions-proof contracts it would make it easier for them to walk away from the deals if Western governments impose sanctions on Beijing.

5. Bharatiya Janata Party concedes crucial state electiontreating a rare political setback to Prime Minister Narendra Modi a year before a national election.

deep dive

After being Europe’s problem child for years, growth in Greece is now exploding. More than a decade after bailouts and austerity measures pulled Greece from the brink of bankruptcy and an exit from the euro zone, the country has rebounded and is on the verge of regaining its investment grade . Learn more about Greece’s ‘biggest turnaround’.

We also read and listen. . .

• Shell’s Iraqi gas project: An Iranian company is the biggest beneficiary of a power plant set to supply a Shell-backed gas project in Iraq. Here is how iran will benefit.

• The voyage of a sanctioned vessel: The FT has pieced together the five-month secret voyage that a sanctioned Russian freighter, Lady R, took to secretly transporting weapons wanted by Moscow.

• FT Weekend Podcast: This week, host Lilah Raptopoulos speaks with Iranian-American artist Sheida Soleimani as she tells the story of his family through his photographyafter years of creating political works.

Card of the day

The hole in Earth’s ozone layer has stopped growing and started to close in recent years, according to NASA Ozone Watch. According to a UN panel, the ozone layer should be replenished to pre-1980 levels by the middle of this century if current policies remain in place.

Take a break from the news

For three decades, Mary Austin was the caretaker of Freddy Mercury’s art-filled home. Now she is finally ready to sell her content. Take a look inside his London home in The Weekend Test.

Additional Contributions by Tee Zhuo and Emily Goldberg