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Edition: U.S. Article Comments (0) Slideshow Video Save Email Print Reprints Most Popular Most Shared Exclusive: IRS hires "hundreds" for new wealth unit 11 Dec 2009 Abu Dhabi gives Dubai $10 billion in surprise bailout 12:52am EST Asian stocks rebound on Dubai bailout, yen falls 12:53am EST TEXT-Dubai govt statement on restructuring, aid 13 Dec 2009 Dubai government statement on restructuring, aid 12:29am EST Abu Dhabi gives Dubai $10 billion in surprise bailout 12:52am EST Exclusive: IRS hires "hundreds" for new wealth unit 11 Dec 2009 TEXT-Dubai govt statement on restructuring, aid 13 Dec 2009 In Bhutan, a stock trade a day keeps stress away 09 Dec 2009 Dubai government statement on restructuring, aid 12:29am EST Conservative favored in Chile presidential run-off Simon Gardner and Alonso Soto SANTIAGO Mon Dec 14, 2009 1:13am EST Related News SNAP ANALYSIS: Billionaire seen winning Chile presidency run-off Sun, Dec 13 2009 Chile's main presidential candidates Sun, Dec 13 2009 Related Video Chile set for presidential elections Sat, Dec 12 2009 < 1 / 4 > View Full Size SANTIAGO (Reuters) - Conservative billionaire Sebastian Pinera led Chile's presidential vote and on Monday was seen as the favorite to win a run-off and lead a regime change in Latin America's model economy after 20 years of leftist rule. World Pinera, an airline magnate who ranks No. 701 on Forbes' global rich list, won 44 percent in Sunday's voting, shy of the more than 50 percent needed for an outright victory, according to near-complete official results. It was the first time in decades a rightist has taken the most votes in a presidential race in Chile, a copper-mining powerhouse and a major exporter of fruit, wine and salmon. On January 17 Pinera faces a second round against ex-President Eduardo Frei, who has acknowledged his reputation as a bore and won only 29.6 percent of the vote even though his coalition-mate, outgoing President Michelle Bachelet, is highly popular. If Pinera wins in January, he is not expected to dramatically overhaul the austere and moderate policies that the center-left has applied for two decades making Chile a regional beacon of stability and high living standards. Both Frei and Pinera are now going after the supporters of maverick independent Marco Enriquez-Ominami, who split the left after defecting from the ruling coalition and missed the run-off by finishing third with 20 percent of the vote. "I want to tell all those who didn't support us, that we will receive all those who want real change with open arms," Pinera said late on Sunday. "We share with Marco and his followers a firm desire for change." Pinera's first-place finish may have been less about his platform -- including pledges of 6 percent economic growth and corporate tax breaks -- and more about the fractured condition of the long-ruling leftist coalition, the Concertacion. Many voters believe the left has not done enough to distribute billions of dollars in copper earnings through social programs and to improve education and healthcare. Frei called on Enriquez-Ominami's supporters to back him but the 36-year-old former film producer, whose guerrilla leader father was slain under Pinochet, said he would not endorse any candidate in the run-off, which could weigh on Frei's chances. In the second round, some of his supporters may continue to reject the Concertacion by voting for Pinera, analysts say. PINOCHET STIGMA HURT RIGHTISTS Pinera, 60, is the first candidate to break a voter stigma against rightists after the 1973-1990 dictatorship of Gen. Augusto Pinochet, when about 3,000 leftists and dissidents were killed and thousands more were tortured. Sunday's presidential vote was the first since Pinochet died in 2006, and the youngest voters were born after the dictatorship ended. "We have voted for Pinera to ensure change," said 68-year-old lawyer Ricardo Bustos, who helped vote Frei into power in 1994, but has now turned his back on the center-left coalition. "We have to change the Concertacion," he said. "They are running out ideas -- 20 years of the same system is too long. A Pinera victory in January would put Chile somewhat out of step with the rest of the region, where leftist leaders dominate in most countries except Colombia, Mexico and Peru. Pinera, who piloted his own helicopter to remote settlements during the campaign, plans to use job subsidies to lure investment if elected. Chilean stocks are seen rallying if he wins. But his plans for strong economic growth rely on foreign investment rebounding and an uninterrupted recovery from Chile's first recession in a decade. Frei, 67, a civil engineer whose 1994-2000 presidency was rocked by recession amid the Asian financial crisis, has pledged to continue the social programs of Bachelet. (Additional reporting by Rodrigo Martinez, Antonio de la Jara, Alvaro Tapia, Aaron Nelsen and Gabriela Donoso; Editing by Fiona Ortiz and Bill Trott) World Add a Comment More from Reuters Abu Dhabi gives Dubai $10 billion in surprise bailout DUBAI (Reuters) - Abu Dhabi stepped in to help fellow United Arab Emirates member Dubai with a $10 billion injection, of which $4.1 billion was allocated to troubled state-owned conglomerate Dubai World to pay immediate obligations, Dubai said on Monday. ArcelorMittal could cut 10,000 jobs: report Obama to meet with bankers, decries "fat cats" Nikkei trims losses on Dubai "Naked access" now 38 percent of U.S. trading: report Asian stocks rebound on Dubai bailout, yen falls » More Top News Fast forward for investors With 2009 all but over for investors, the coming week will be dominated by the issues that will shape markets in 2010. Full Article Five market themes next week Over easy entrepreneur For years restaurateur Ken Pendery Jr. watched rival chains expand their operations. Now those same competitors are retreating and Pendery is going on the offensive. Full Article Blog: Small business confidence spirals Video: Who won the social media war? small business © Copyright 2009 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal ECVJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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