The Turkish foreign minister Ahmet Davutoglu, right, and the Japanese foreign minister Katsuya Okada at the conference in Ankara yesterday.
The Turkish foreign minister Ahmet Davutoglu, right, and the Japanese foreign minister Katsuya Okada at the conference in Ankara yesterday.
The Turkish foreign minister Ahmet Davutoglu, right, and the Japanese foreign minister Katsuya Okada at the conference in Ankara yesterday.
The Turkish foreign minister Ahmet Davutoglu, right, and the Japanese foreign minister Katsuya Okada at the conference in Ankara yesterday.

Ankara nourishes an axis of influence with Abbas


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ISTANBUL // For about 200 Turkish diplomats, the new year starts with an unprecedented experience. This week, foreign statesmen like Mahmoud Abbas, the Palestinian president, will address a meeting of ambassadors and other officials in Ankara designed to widen the horizon of the country's diplomatic corps and prepare it for a foreign policy of "360 degrees". The five-day meeting under the motto, "Democracy, security and stability: A look at the world and Turkish foreign policy in 2010" kicked off yesterday and will see lectures by Mr Abbas as well as by Mehmet Ali Talat, the Turkish Cypriot leader, and speeches by the foreign ministers of Brazil, Germany and Japan.

It is the second meeting of Turkish ambassadors since Ahmet Davutoglu, the Turkish foreign minister, took office last spring, and the first time ever that foreign politicians will address a conference of Turkish diplomats. The meeting would serve Turkey's national interests and contribute to a "multidimensional foreign policy", the foreign ministry said in a statement. "Turkey's geographical situation is at a central point" of international politics, Mr Davutoglu told the meeting yesterday, according to news reports. "One can see that geographical region as a risk or as an advantage and a potential. We see it as a potential and an advantage."

Situated between Europe, the Caucasus and the Middle East, Turkey had to be ready to react to any crisis in its part of the world, the minister said. "Our radar has to be switched on constantly," he said. "Every crisis in our neighbourhood represents a chance to implement our vision at the same time." The conference in Ankara offers a glimpse of what Mr Davutoglu, a former professor of international relations, has in mind for his country in the coming years. He sees Turkey, the only Muslim member state of Nato, an EU candidate and a member of the G20 group of the world's biggest economies, as a potential leader in the region and has taken several steps to increase the country's weight on the word stage. "There has to be a Turkish vision for every place and every issue," he told his diplomats yesterday.

"It is a real change, even a drastic change from Turkey's foreign policy in the past, which was regarded as passive," Mensur Akgun, a professor of international relations at Istanbul Culture University, said yesterday. "For the first time in our history, we are trying to find solutions for the problems in the region." Since taking office last May, Mr Davutoglu has presided over improvements in Turkey's relations with Syria, Iraq and Iran, and he has signed a set of ground-breaking agreements with Armenia. "Turkey's horizon is 360 degrees," Mr Davutoglu told reporters last week.

Addressing the conference in Ankara yesterday, the minister said that it was not enough for Turkish diplomats to learn English and French, the traditional languages of international diplomacy. "We will offer new possibilities to learn the languages of our region." A look at the destinations of foreign trips by Mr Davutoglu and his predecessor Ali Babacan last year shows that Turkey is looking to the West as well as to the East. According to Mr Davutoglu, he and Mr Babacan visited a total of 93 countries in 2009. EU member states and other European countries accounted for about half of the trips, while there were 22 visits to Middle Eastern countries and 15 to Asia. Only a day before his diplomats gathered in Ankara, Mr Davutoglu returned from a visit to Saudi Arabia.

Referring to concerns that Turkey may be about to change its foreign policy axis by turning away from the West with its improved ties to eastern neighbours, Mr Davutoglu said last week his country would continue with its bid to join the European Union. "Our axis is Ankara," he said. In recent years, Turkey has stepped up its efforts to get involved in the resolution of several conflicts in the region. Ankara sent soldiers to participate in an international peacekeeping force in Lebanon and orchestrated indirect talks between Syria and Israel; the talks broke down a year ago. The Turkish government also tried to mediate between Russia and Georgia after the short war of 2008.

Prof Akgun said the Caucasus initiative of 2008 provided a good example of what Turkey's soft power could do. "There were no concrete results, and no one expected them," he said about Ankara's offer to establish a "Caucasus Stability and Co-operation Pact" after the war in South Ossetia. "But it helped to cool down and contain the conflict." As Turkey has become used to a more active role in world politics, the government of Recep Tayyip Erdogan, the prime minister, has also changed its rhetoric, Prof Akgun said. Last year, Mr Erdogan raised eyebrows with his harsh criticism of Israel's military operation in the Gaza Strip. The prime minister also defended Iran's right to pursue a non-military nuclear programme and said some of the West's criticism against Tehran was unfair.

"Turkey feels much more self-confident," Prof Akgun said about the outspokenness of members of the Erdogan government. "They are able to say whatever they want to say." Mr Davutoglu's speech yesterday reflected Ankara's increased self-confidence. "We have a lot of things to say in the international arena," the foreign minister said. "And there are big nations that will listen to us." @Email:tseibert@thenational.ae

SPECS

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Greatest Royal Rumble results

John Cena pinned Triple H in a singles match

Cedric Alexander retained the WWE Cruiserweight title against Kalisto

Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus

Jeff Hardy retained the United States title against Jinder Mahal

Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos

Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe

AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out

The Undertaker beats Rusev in a casket match

Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match

Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

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COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Women's Prize for Fiction shortlist

The Silence of the Girls by Pat Barker

My Sister, the Serial Killer by Oyinkan Braithwaite

Milkman by Anna Burns

Ordinary People by Diana Evans

An American Marriage by Tayari Jones

Circe by Madeline Miller

T20 World Cup Qualifier A, Muscat

Friday, February 18: 10am - Oman v Nepal, Canada v Philippines; 2pm - Ireland v UAE, Germany v Bahrain

Saturday, February 19: 10am - Oman v Canada, Nepal v Philippines; 2pm - UAE v Germany, Ireland v Bahrain

Monday, February 21: 10am - Ireland v Germany, UAE v Bahrain; 2pm - Nepal v Canada, Oman v Philippines

Tuesday, February 22: 2pm – semi-finals

Thursday, February 24: 2pm – final

UAE squad: Ahmed Raza (captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia

All matches to be streamed live on icc.tv

Gender equality in the workplace still 200 years away

It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.

The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.

But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.

At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.

The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.

After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.

Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.

And the number of women in leadership roles has risen to 34 per cent globally, WEF said.

At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.

And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.

* Agence France Presse

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.”

Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

Glossary of a stock market revolution

Reddit

A discussion website

Redditor

The users of Reddit

Robinhood

A smartphone app for buying and selling shares

Short seller

Selling a stock today in the belief its price will fall in the future

Short squeeze

Traders forced to buy a stock they are shorting 

Naked short

An illegal practice  

Results

ATP Dubai Championships on Monday (x indicates seed):

First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4

'Texas Chainsaw Massacre'

Rating: 1 out of 4

Running time: 81 minutes

Director: David Blue Garcia

Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham

MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

The specs

Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel

Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power: 1877bhp

Torque: 2300Nm

Price: Dh7,500,00

On sale: Now

 

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

The Cairo Statement

 1: Commit to countering all types of terrorism and extremism in all their manifestations

2: Denounce violence and the rhetoric of hatred

3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC  

4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5