Turkey’s farmers are facing catastrophic levels of drought despite rains that initially staved off panic at the start of the year as reservoir levels shrunk to less than a quarter of their capacity.
Water levels around Istanbul – home to about a fifth of Turkey's population – fell to less than 25 per cent of their full capacity in January after months with no rain. Officials issued a warning at the time that the city would run out of water in 45 days.
TV bulletins switched between footage of people praying for rain and maps of the country coloured a deep red to indicate dire groundwater conditions.
The heavens later opened, soothing public fears, but groundwater levels were not sufficiently replenished, leading to the appearance of cavernous sinkholes across Turkey’s agricultural plains.
“Unfortunately, we only wake up when the water level of the dams that feed the cities drops and ask: ‘What’s happening?’” said Akgun Ilhan, a water management expert at Istanbul Policy Centre.
“When it rains for a few days and water collects in the dams, we go back to sleep.”
Experts said the country still faced a severe drought and farmers called on the government to declare a natural disaster.
The hardest-hit area, the South-eastern Anatolia region, recorded a 90 per cent drop in rainfall last month compared with April 2020, according to the Water Policy Association in Ankara. Across the country, there was half as much rain as the previous year.
The impending water crisis led President Recep Tayyip Erdogan to unveil a new water watchdog in March, along with $645 million in funding for new dams, water treatment plants and irrigation.
Agriculture Minister Bekir Pakdemirli had already told the public to treat water as a precious commodity “just like gold or a piece of jewellery".
Climate change plays a significant role. Turkey has faced several droughts since the 1980s owing to population growth, accompanied by rapid industrialisation and urbanisation.
Turkey’s water infrastructure has struggled to keep up, with 50 per cent of water lost to leaks before reaching the tap, the Water Policy Association said.
Data from the General Directorate of State Hydraulic Works shows available water levels steadily falling, from about 1,650 cubic metres a person in 2000 to less than 1,350 cubic metres last year.
The UN classes a country as “water scarce” at 1,000 cubic metres.
Mr Ilhan called for Turkey to reduce carbon emissions, which she said had increased by 135 per cent in the past 30 years. It is one of the few countries not to have ratified the 2015 Paris agreement on climate change.
To the south of Turkey, Iraq and Syria have long complained of water shortages caused by Turkey's extensive damming of the Euphrates and Tigris under the Southeast Anatolia Project, a $32 billion plan initiated in the 1970s that is focused on providing hydroelectric power and farm irrigation.
The project, known by its Turkish acronym GAP, was to provide irrigation for an additional 18,000 square kilometres but has only achieved about half that, according to Abdullah Melik, chairman of Sanliurfa province's Chamber of Agricultural Engineers.
“GAP has been 54 per cent effective in agricultural irrigation [but] the project was not completed,” he said.
Nearly three quarters of Turkey’s water consumption goes to agriculture and farmers say this year’s yield of crops such as wheat, barley and lentils have been reduced by at least a fifth.
“The state must immediately declare the region a disaster area,” said Mehmet Ali Dogru, chairman of the Chamber of Agriculture in Nusaybin, a town on the Syrian border.
“GAP needs to be completed as soon as possible so that we do not suffer from drought.”
Turkey has not shied from holding its control of the Tigris and Euphrates over Iraq and Syria, such as cutting off the Euphrates when Iraq invaded Kuwait and coercing Syria into halting support for Kurdish insurgents.
This year, Turkey has allegedly halved the flow of the Euphrates, primarily affecting areas controlled by the Syrian regime and the Kurdish-led authorities. Ankara denies the claims.
GAP has allowed Turkey to control "the most pivotal rivers in the Middle East and, for some, declare its hydro-hegemony", said Dr Arda Bilgen, water politics expert and visiting scholar at Clark University in the US.
“Syria and Iraq also worried that the project would severely impact the quality and quantity of their water.”
The outbreak of the civil war in Syria "further complicated efforts to co-ordinate and co-operate over water resources management", he said.
Dr Bilgen, who has extensively researched GAP, said its effect locally was “ephemeral, fragile and unsustainable rather than long-term, inclusive and sustainable".
While benefiting "those already possessing large amounts of land, capital, resources and power", GAP has cost small landholders and seasonal workers, and its dams have displaced up to 400,000 people, he said.
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
MATCH INFO
Confederations Cup Group B
Germany v Chile
Kick-off: Thursday, 10pm (UAE)
Where: Kazan Arena, Kazan
Watch live: Abu Dhabi Sports HD
What is an ETF?
An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.
There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.
The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.
There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.
While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
How to apply for a drone permit
Individuals must register on UAE Drone app or website using their UAE Pass
Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
Upload the training certificate from a centre accredited by the GCAA
Submit their request
What are the regulations?
Fly it within visual line of sight
Never over populated areas
Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
Users must avoid flying over restricted areas listed on the UAE Drone app
Only fly the drone during the day, and never at night
Should have a live feed of the drone flight
Drones must weigh 5 kg or less
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
