Ekrem Imamoglu's supporters demonstrate as a Turkish court reaches a verdict in the Istanbul mayor's trial this month. Reuters
Ekrem Imamoglu's supporters demonstrate as a Turkish court reaches a verdict in the Istanbul mayor's trial this month. Reuters
Ekrem Imamoglu's supporters demonstrate as a Turkish court reaches a verdict in the Istanbul mayor's trial this month. Reuters
Ekrem Imamoglu's supporters demonstrate as a Turkish court reaches a verdict in the Istanbul mayor's trial this month. Reuters


For Erdogan's political opponents, the path to power is laden with thorns


  • English
  • Arabic

November 22, 2022

“Did you lose your ships in the Black Sea?” asks an old Turkish expression. It’s traditionally directed at a friend lost in thought or struggling with some mental conundrum, but it might be posed to Istanbul Mayor Ekrem Imamoglu in a slightly more literal way.

Much like Istanbul, Turkey’s north-eastern Black Sea region has an outsized impact on the country’s discourse and political fortunes. President Recep Tayyip Erdogan and several of his fellow AKP founders, along with many of their top deputies and staunchest supporters, hail from the region, as does the Istanbul Mayor.

Back in May, Mr Imamoglu toured his home province of Trabzon, as well as neighbouring Rize, Mr Erdogan’s home province, over the Eid Al Fitr holiday. He drew adoring crowds, but came under sharp criticism when a photo of his press pool revealed that he had brought along a former pro-AKP journalist widely thought to have unfairly persecuted government critics.

The Mayor probably made matters worse with his response to the complaints. “There may be some people who want to sacrifice me over one photo,” he said. “I do not care at all.”

Mr Imamoglu’s political star – for years the brightest in the opposition firmament – has since seemed to fade with each passing day. Weeks later, during Eid Al Adha, he was again away from Istanbul – this time on holiday along the Turkish Riviera – when the city was hit with major floods, and again faced strong criticism from his supporters.

Around that time, reports emerged that the longtime leader of Mr Imamoglu’s main opposition CHP, Kemal Kilicdaroglu, would run as the party’s candidate in next year’s presidential election. Mr Imamoglu and his fellow CHP Mayor, Mansur Yavas of Ankara, have consistently outperformed their boss, as well as Mr Erdogan, in head-to-head polls.

Turkey's main opposition leader Kemal Kilicdaroglu greets his supporters during a rally in May in Istanbul. Getty Images
Turkey's main opposition leader Kemal Kilicdaroglu greets his supporters during a rally in May in Istanbul. Getty Images
An election based on security issues, as in 2015, favours the governing coalition

In fact, none of the likely opposition candidates has polled as poorly against Mr Erdogan as Mr Kilicdaroglu. The CHP and its six-party opposition alliance have yet to choose their candidate, and just last week a top opposition MP expressed concerns that Mr Kilicdaroglu would be unable to win. So there may still be hope for Mr Imamoglu.

Yet, he happens to be on trial at the moment, facing a potential political ban and up to four years in prison for insulting Turkey’s top election board. The verdict could come any day, and many expect the popular Istanbul Mayor to be found guilty despite the questionable charges.

As if all this weren’t enough, two days after his trial began, Istanbul’s main pedestrian thoroughfare was struck with a bomb blast that killed six people and injured dozens, recalling for many the politically driven violence that shook the country in 2015-16.

Istanbul and Turkey suffered half a dozen major attacks in this period, as well as intense fighting between the government and the Kurdistan Workers’ Party (PKK), which has led a decades-long insurgency in the country’s south-east and is labelled a terror group by the US, EU and Turkey.

In June 2015, weeks before the violence began, the AKP lost its parliamentary majority for the first time since coming to power. But the vote resulted in a hung parliament, so Mr Erdogan called for a redo. Five months later, with the militant PKK under military assault and nationalist sentiment running high, the AKP regained its majority.

Within hours of the latest bombing, Turkish authorities arrested a Syrian Arab woman as the main suspect and blamed the attack on the PKK and its Syrian ally, the YPG. Both have denied involvement, and observers have wondered why a trained terrorist would be caught on camera planting a bomb then return to her home rather than flee, and why an Arab woman would commit such a brazen and deadly crime for a Kurdish group.

  • A mourner lays flowers on Istiklal Avenue in Turkey's capital Istanbul, where a bomb blast killed six people on Sunday. AFP
    A mourner lays flowers on Istiklal Avenue in Turkey's capital Istanbul, where a bomb blast killed six people on Sunday. AFP
  • A shrine has been created on the popular pedestrianised shopping street. AFP
    A shrine has been created on the popular pedestrianised shopping street. AFP
  • Mourners at the site where the bomb exploded. AP
    Mourners at the site where the bomb exploded. AP
  • Municipal workers clear up after the blast. AFP
    Municipal workers clear up after the blast. AFP
  • Police officers block an entrance to Istiklal Avenue after Sunday's blast. AP
    Police officers block an entrance to Istiklal Avenue after Sunday's blast. AP
  • Forensics experts examine the bomb site. AFP
    Forensics experts examine the bomb site. AFP
  • People leave the area after an explosion on Istanbul's popular pedestrian Istiklal Avenue Sunday. AP
    People leave the area after an explosion on Istanbul's popular pedestrian Istiklal Avenue Sunday. AP
  • Security officers move crowds away from the scene of the explosion. AP
    Security officers move crowds away from the scene of the explosion. AP
  • Shoppers run away from the busy shopping street. AP
    Shoppers run away from the busy shopping street. AP
  • Ambulances and police at the scene of the explosion. Reuters
    Ambulances and police at the scene of the explosion. Reuters
  • Bodies of unidentified people lay on the ground after the blast. Reuters
    Bodies of unidentified people lay on the ground after the blast. Reuters
  • The Turkish Red Crescent has said blood has been sent to hospitals in the vicinity and there is currently no "urgent need" for donations. Reuters
    The Turkish Red Crescent has said blood has been sent to hospitals in the vicinity and there is currently no "urgent need" for donations. Reuters
  • Video footage showed panicked residents fleeing after a loud bang was heard, with multiple people lying on the ground. Reuters
    Video footage showed panicked residents fleeing after a loud bang was heard, with multiple people lying on the ground. Reuters
  • A boy is cared for after the explosion. Getty
    A boy is cared for after the explosion. Getty
  • Police work at the scene after the explosion. Reuters
    Police work at the scene after the explosion. Reuters
  • An ambulance passes people leaving a store. AFP
    An ambulance passes people leaving a store. AFP
  • Forensic teams on the scene. Reuters
    Forensic teams on the scene. Reuters
  • Police and emergency service members near where the blast happened. Reuters
    Police and emergency service members near where the blast happened. Reuters
  • Istiklal is one of the busiest streets in Istanbul. Getty
    Istiklal is one of the busiest streets in Istanbul. Getty

On Saturday authorities made further arrests, including a few Moldovans, which would seem to point in another direction. Even so, early on Sunday Ankara launched fresh strikes on northern Syria, killing at least two YPG fighters. On Monday, the YPG appeared to retaliate, as Turkish outlets reported three civilians killed in strikes in the border province of Gaziantep.

Many also expect the government to move against the Kurdish-led HDP, with arrests or even a blanket ban, and Interior Minister Suleyman Soylu has vowed to reveal links between terror groups and the Imamoglu-run Istanbul municipality this week. However cynical all this might seem, it’s also politically astute. Amid rampant inflation and growing poverty, an election based on security issues, as in 2015, favours the governing coalition a great deal more than one centred on the economy.

The AKP will gain a further boost from its newly enhanced ability to control the flow of information. Immediately after the bombing, authorities blocked top social media platforms Twitter, Instagram, YouTube and Facebook for more than 10 hours. Along with a recently passed censorship law that makes just about any troubling statement a potentially jailable offence, the space for public discussion and debate has shrunk.

Add it all up and the outlook for the Istanbul Mayor, and perhaps the opposition more broadly, is dimmer than it’s been since his June 2019 electoral victory. Of course, this would all turn around in an instant if Mr Imamoglu is acquitted then named the opposition candidate.

For now that seems unlikely. A year ago, I detailed the many parallels between Mr Erdogan and Mr Imamoglu. We may soon add one more: banned from politics while serving as Istanbul Mayor and sent to prison. That would surely mark Mr Imamoglu’s political ship being lost at sea.

But in Mr Erdogan’s case, the conviction and four-month jail stint gave him the heroic air of a martyr, and three years after his release his new party came to power. Could lightning strike in prison again? In Turkish politics, anything is possible.

How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

SWEET%20TOOTH
%3Cp%3E%3Cstrong%3ECreated%20by%3A%3C%2Fstrong%3E%20Jim%20Mickle%2C%20Beth%20Schwartz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Nonso%20Anozie%2C%20Christian%20Convery%2C%20Adeel%20Akhtar%2C%20Stefania%20LaVie%20Owen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

India cancels school-leaving examinations
5 of the most-popular Airbnb locations in Dubai

Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:

• Dubai Marina

The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.

Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739 
Two bedroom: Dh627 to Dh960 
Three bedroom: Dh721 to Dh1,104

• Downtown

Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure.  “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."

Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154

• City Walk

The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena.  “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”

Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809 
Two bedroom: Dh682 to Dh1,052 
Three bedroom: Dh784 to Dh1,210 

• Jumeirah Lake Towers

Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.

Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629 
Two bedroom: Dh549 to Dh818 
Three bedroom: Dh631 to Dh941

• Palm Jumeirah

Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.

Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770 
Two bedroom: Dh654 to Dh1,002 
Three bedroom: Dh752 to Dh1,152 

Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

Fifa%20World%20Cup%20Qatar%202022%20
%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
INFO

What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.

The biog

Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages

Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”  

Favourite food: “I'm a vegetarian, so I can't get enough of salad.”

Favourite film:  “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”

Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”

What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.

In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.

It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

Kibsons%20Cares
%3Cp%3E%3Cstrong%3ERecycling%3Cbr%3E%3C%2Fstrong%3EAny%20time%20you%20receive%20a%20Kibsons%20order%2C%20you%20can%20return%20your%20cardboard%20box%20to%20the%20drivers.%20They%E2%80%99ll%20be%20happy%20to%20take%20it%20off%20your%20hands%20and%20ensure%20it%20gets%20reused%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKind%20to%20health%20and%20planet%3C%2Fstrong%3E%3Cbr%3ESolar%20%E2%80%93%2025-50%25%20of%20electricity%20saved%3Cbr%3EWater%20%E2%80%93%2075%25%20of%20water%20reused%3Cbr%3EBiofuel%20%E2%80%93%20Kibsons%20fleet%20to%20get%2020%25%20more%20mileage%20per%20litre%20with%20biofuel%20additives%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESustainable%20grocery%20shopping%3C%2Fstrong%3E%3Cbr%3ENo%20antibiotics%3Cbr%3ENo%20added%20hormones%3Cbr%3ENo%20GMO%3Cbr%3ENo%20preservatives%3Cbr%3EMSG%20free%3Cbr%3E100%25%20natural%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20synchronous%20electric%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E660hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C100Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E488km-560km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh850%2C000%20(estimate)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EOctober%3C%2Fp%3E%0A
What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20SupplyVan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2029%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20MRO%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

While you're here
Profile of Tarabut Gateway

Founder: Abdulla Almoayed

Based: UAE

Founded: 2017

Number of employees: 35

Sector: FinTech

Raised: $13 million

Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A

The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

RESULTS

5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel

RESULT

Bayern Munich 0 AC Milan 4
Milan: Kessie (14'), Cutrone (25', 43'), Calhanoglu (85')

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

First Person
Richard Flanagan
Chatto & Windus 

Pari

Produced by: Clean Slate Films (Anushka Sharma, Karnesh Sharma) & KriArj Entertainment

Director: Prosit Roy

Starring: Anushka Sharma, Parambrata Chattopadhyay, Ritabhari Chakraborty, Rajat Kapoor, Mansi Multani

Three stars

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

Crops that could be introduced to the UAE

1: Quinoa 

2. Bathua 

3. Amaranth 

4. Pearl and finger millet 

5. Sorghum

ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

The specs

Engine: 2.0-litre 4-cyl, 48V hybrid

Transmission: eight-speed automatic

Power: 325bhp

Torque: 450Nm

Price: Dh359,000

On sale: now 

The biog

Favourite book: Animal Farm by George Orwell

Favourite music: Classical

Hobbies: Reading and writing

 

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

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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MATCH INFO

Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90' 4)

Man of the match Harry Kane

Updated: November 22, 2022, 4:00 AM