Members of a pro-Palestinian youth movement were arrested in Istanbul on Sunday after protesting against Azerbaijani oil exports to Israel via Turkey, highlighting the delicate balance Ankara seeks between its economic and geopolitical alliances, and Turkish public opinion.
Thirteen activists from the 1000 Youth for Palestine group were held in dawn raids after throwing paint and breaking a door at the Turkish headquarters of Socar, the Azerbaijani national oil company, according to videos posted online and a protest organiser interviewed by The National.
For the first five months of this year, Socar has exported tens of thousands of barrels of Azerbaijani crude oil daily through the Baku-Tbilisi-Ceyhan oil pipeline, according to ship-loading data.
The oil was then shipped from the Turkish Mediterranean port of Ceyhan to Israel.
“We protested in front of the Socar building and we said 'cut ties with Israel and shut down the pipeline',” said Huseyin Arif Sariyasar, one of the founders of 1000 Youth for Palestine. “That’s why 13 of our friends were arrested from their homes.”
All of those arrested by the security branch of Istanbul police are aged 20 to 27 and were charged with damage to property, he added.
The detained activists will go before a court in Istanbul on Monday, another protest organiser said. Arrest warrants were issued for three more people whom security forces were not able to reach, he added. Socar and Istanbul's police department did not respond to requests for comment.
The arrests highlight the issue of energy exports to Israel via Turkey, despite Ankara having banned direct trade with Israel in protest over the war in Gaza, in which more than 36,400 Palestinians have been killed.
They also highlight a delicate balancing act played by the Turkish government: it is likely loath to disrupt ties with one of its closest regional allies, Azerbaijan, and lose income associated with transporting the oil, but is also facing persistent pressure from the public over its ties with Israel.
Turkish politicians including President Recep Tayyip Erdogan have viciously criticised the Israeli government – he recently called Prime Minister Benjamin Netanyahu a “blood-feeding vampire” – and have sent significant amounts of aid to Gaza.
At the same time, Ankara has not officially downgraded diplomatic ties and until recently continued to allow trade – something Turkish protesters see as fuelling military operations in Gaza.
Others argue that Turkey banning trade with Israel will serve to hurt Palestinians, who also rely on Turkish imports arriving through Israeli-controlled borders.
Much of Mr Erdogan’s religious conservative support base is vocally pro-Palestine and in local elections in March his Justice and Development Party (AKP) lost votes to more conservative politicians who promised to take a harsher anti-Israel stance.
Protesters have also directly criticised Mr Erdogan online, showing the depth of anger in some parts of Turkish society at what they see as pro-Palestinian rhetoric undermined by continuing to deal with Israel.
Following the election losses, Turkey announced it was unilaterally halting all trade with Israel. The two countries shared a trade volume of more than $7 billion last year, according to UN and Turkish Statistical Institute figures, mostly consisting of exports to Israel.
Turkish firms with outstanding orders destined for Israel have since been permitted to sell the same goods to third countries, “on the condition that it [the order] is not sent to Israel”, a Turkish Trade Ministry official told The National. It is not clear how Turkey can enforce a ban on goods sold to third countries ending up in Israel.
The Azerbaijani crude oil exports via Turkey have continued despite the ban on direct Turkey-Israel trade.
Israel, a close partner of Baku, relies on imported crude oil – from Russia and several African countries as well as Azerbaijan – and its own natural gas for energy supplies.
Despite the pressure on Turkey and Socar, there is no indication that Azerbaijan will stop selling oil to Israel, or that Ankara will stop facilitating it.
The Turkey section of the 1,768km-long Baku-Tbilisi-Ceyhan pipeline is operated by the Turkish state oil pipelines company Botas and industry officials say unilaterally reneging on contracts would be almost impossible for Ankara.
“It is important to note that intergovernmental agreements are obligations that governments must fulfil – honouring these agreements under all circumstances is crucial for maintaining nations’ credibility,” said Mehmet Dogan, an Istanbul-based oil and gas analyst.
“When countries fail to honour the agreements they have signed or refuse to meet their conditions, they set a precedent for other countries to similarly evaluate agreements on different matters.”
The war in Gaza and public pressure in Turkey may be influencing business decisions for other Turkish companies, however.
Protesters previously targeted Zorlu Energy, which conducted business in Israel. In a public disclosure to Turkish markets, the firm last week announced it was selling all its shares in its three Israeli subsidiaries, “with the aim of focusing on renewable energy projects in the medium term”.
Protesters vow to continue demonstrating.
RESULTS
Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)
Specs
Engine: 3.0L twin-turbo V6
Gearbox: 10-speed automatic
Power: 405hp at 5,500rpm
Torque: 562Nm at 3,000rpm
Fuel economy, combined: 11.2L/100km
Price: From Dh292,845 (Reserve); from Dh320,145 (Presidential)
On sale: Now
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
MATCH INFO
FA Cup final
Chelsea 1
Hazard (22' pen)
Manchester United 0
Man of the match: Eden Hazard (Chelsea)
Bareilly Ki Barfi
Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars
Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
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A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
Results
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Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
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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.”
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4.5/5
Notable salonnières of the Middle East through history
Al Khasan (Okaz, Saudi Arabia)
Tamadir bint Amr Al Harith, known simply as Al Khasan, was a poet from Najd famed for elegies, earning great renown for the eulogy of her brothers Mu’awiyah and Sakhr, both killed in tribal wars. Although not a salonnière, this prestigious 7th century poet fostered a culture of literary criticism and could be found standing in the souq of Okaz and reciting her poetry, publicly pronouncing her views and inviting others to join in the debate on scholarship. She later converted to Islam.
Maryana Marrash (Aleppo)
A poet and writer, Marrash helped revive the tradition of the salon and was an active part of the Nadha movement, or Arab Renaissance. Born to an established family in Aleppo in Ottoman Syria in 1848, Marrash was educated at missionary schools in Aleppo and Beirut at a time when many women did not receive an education. After touring Europe, she began to host salons where writers played chess and cards, competed in the art of poetry, and discussed literature and politics. An accomplished singer and canon player, music and dancing were a part of these evenings.
Princess Nazil Fadil (Cairo)
Princess Nazil Fadil gathered religious, literary and political elite together at her Cairo palace, although she stopped short of inviting women. The princess, a niece of Khedive Ismail, believed that Egypt’s situation could only be solved through education and she donated her own property to help fund the first modern Egyptian University in Cairo.
Mayy Ziyadah (Cairo)
Ziyadah was the first to entertain both men and women at her Cairo salon, founded in 1913. The writer, poet, public speaker and critic, her writing explored language, religious identity, language, nationalism and hierarchy. Born in Nazareth, Palestine, to a Lebanese father and Palestinian mother, her salon was open to different social classes and earned comparisons with souq of where Al Khansa herself once recited.
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Name: Dr Hassan Mohsen Elhais
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At Eternity’s Gate
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Three stars
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Key products and UAE prices
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With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
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Price: Dh4,649
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