Turkey is seeking more UAE investment in artificial intelligence amid a strengthening of ties between the two countries.
“The UAE is positioning [itself] as a hub for AI investments and we see a similar potential for Turkey. There are tangible outcomes already and there will be more,” Burak Daglioglu, president of the Investment Office of the Presidency of Turkey, told reporters in Istanbul on Wednesday.
Turkey has a “nice pipeline of infrastructure projects”, including data centres, connectivity and renewable energy capacity to attract investments in the AI field, he added.
UAE and Turkey trade and investment ties have surged after the two countries signed the Comprehensive Economic Partnership Agreement, also known as Cepa, in 2023.
There have been several investment agreements spanning different sectors including technology, finance, manufacturing and infrastructure development.
This week, Dubai Islamic Bank signed a $150 million sharia-compliant financing agreement with Turkcell, Turkey’s telecoms and technology services provider, to support the company’s continuing investments in digital infrastructure.
The five-year deal will enable Turkcell to advance critical infrastructure in areas such as data centres, cloud technologies and renewable energy, DIB said on Wednesday.
Last month, G42’s Khazna also announced plans to build an AI-capable data centre in Turkey, with a potential capacity of up to 100 megawatts, after securing a site in Ankara. The Abu Dhabi-based company intends to continue investing in Turkey and expand its data centre network, following the completion of the new site, it said last month.
Turkey is also looking to attract UAE investments in sectors such as HealthTech, renewable energy and manufacturing, Mr Daglioglu said.
In 2022, Turkish President Recep Tayyip Erdogan made his first official visit to the UAE in almost a decade to strengthen ties with the Emirates. President Sheikh Mohamed visited Turkey at the end of 2021.
The UAE's non-oil trade with Turkey grew by 11.5 per cent on an annual basis to Dh148.9 billion ($40.54 billion) last year, official data shows.
“The most important development in the recent years was the free trade agreement between the two countries because it paved the way for a larger trade volume,” Mr Daglioglu said.
“After trade, the opportunity for investment is also higher. In the following years, the investment pipeline from UAE to Turkey will be growing.”
It’s not just the UAE companies that are investing in Turkey, after the free trade agreement, “Turkish companies have started investing in UAE as well”, he added.
Last year, the total UAE investments to Turkey was $307 million, while Turkey’s investments in the UAE totalled $576 million, according to data provided by the Turkey Investment Office.
Since 2002, the UAE has made $5.9 billion worth of investments into Turkey, while Turkey’s investments into the UAE during the same period totalled $2.4 billion, the data shows.
There were 604 Emirati companies operating in Turkey by the middle of last year.
Turkey, whose economy is expected to grow by 2.7 per cent this year, is also focusing on boosting start-up ecosystem, Mr Daglioglu said.
They brought in new legislations, supported start-ups with funding and encouraged more sovereign wealth funds to invest.
“We have successful start-ups, not focusing on exits … the previous trend was make an exit to a larger local player. Now, Turkish companies are becoming regional players,” Mr Daglioglu said.
In 2022, Abu Dhabi's holding company ADQ and Turkey Wealth Fund formed a new $300 million technology fund to invest in start-ups in Turkey.
Energy and utilities, health care and life sciences, food and agriculture, mobility and logistics, financial services, and education were the sectors that the fund targeted to invest.
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UAE%20medallists%20at%20Asian%20Games%202023
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Company%20profile
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Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
UAE currency: the story behind the money in your pockets
The%20Kitchen
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Saturday's results
Women's third round
- 14-Garbine Muguruza Blanco (Spain) beat Sorana Cirstea (Romania) 6-2, 6-2
- Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
- 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4. 6-0
- Coco Vandeweghe (USA) beat Alison Riske (USA) 6-2, 6-4
- 9-Agnieszka Radwanska (Poland) beat 19-Timea Bacsinszky (Switzerland) 3-6, 6-4, 6-1
- Petra Martic (Croatia) beat Zarina Diyas (Kazakhstan) 7-6, 6-1
- Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
- 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4, 6-0
Men's third round
- 13-Grigor Dimitrov (Bulgaria) beat Dudi Sela (Israel) 6-1, 6-1 -- retired
- Sam Queery (United States) beat Jo-Wilfried Tsonga (France) 6-2, 3-6, 7-6, 1-6, 7-5
- 6-Milos Raonic (Canada) beat 25-Albert Ramos (Spain) 7-6, 6-4, 7-5
- 10-Alexander Zverev (Germany) beat Sebastian Ofner (Austria) 6-4, 6-4, 6-2
- 11-Tomas Berdych (Czech Republic) beat David Ferrer (Spain) 6-3, 6-4, 6-3
- Adrian Mannarino (France) beat 15-Gael Monfils (France) 7-6, 4-6, 5-7, 6-3, 6-2
The British in India: Three Centuries of Ambition and Experience
by David Gilmour
Allen Lane
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
Ad Astra
Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
COMPANY%20PROFILE
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The distance learning plan
Spring break will be from March 8 - 19
Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm
Staff will be trained in distance learning programmes from March 15 - 19
Teaching hours will be 8am to 2pm during distance learning
Pupils will return to school for normal lessons from April 5
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Results
International 4, United States 1
Justin Thomas and Tiger Woods (US) beat Marc Leishman and Joaquin Niemann (International) 4 and 3.
Adam Hadwin and Sungjae Im (International) beat Xander Schauffele and Patrick Cantlay (US) 2 up.
Adam Scott and Byeong Hun An (International) beat Bryson DeChambeau and Tony Finau (US) 2 and 1.
Hideki Matsuyama and C.T. Pan (International) beat Webb Simpson and Patrick Reed (US) 1 up.
Abraham Ancer and Louis Oosthuizen (International) beat Dustin Johnson and Gary Woodland (US) 4 and 3.
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
