As the last US flight left Kabul’s airport on Monday evening, the question of what Afghanistan’s future relations with the international community will look like remained largely unanswered.
But it is a question that diplomats and politicians around the world are rushing to resolve – none more so than those in Turkish President Recep Tayyip Erdogan’s Ankara palace.
Even before the Taliban took Kabul more than two weeks ago, Mr Erdogan had moved to place Turkey at the fore of prospective ties with the militant group.
“The Erdogan government hopes that its attempts to build a relationship with the Taliban will provide Turkey with additional leverage in its relations with the United States, the European Union and Nato,” said Aykan Erdemir, senior director of the Turkey programme at the Washington-based Foundation for the Defence of Democracies.
“Moreover, Ankara sees the developments in Afghanistan as an opportunity to secure economic opportunities in the war-torn country while also enhancing Turkey’s power projection globally.”
Much of the discussion about Turkey’s role in Afghanistan has focused on Kabul’s Hamid Karzai International Airport, a crucial lifeline for a country reeling from more than four decades of war.
Mr Erdogan first suggested a Turkish role in operating and guarding the airport in a June meeting with US President Joe Biden. But the Taliban’s rapid takeover left the plan unworkable when the militants insisted on all Turkish forces withdrawing, something completed at the weekend.
Turkey is now in talks with its ally Qatar, which has strong ties to the Taliban leadership, over running the airport together. Turkey’s defence and foreign ministers spoke with their Qatari counterparts at the weekend.
On a wider front, Mr Erdogan hopes to develop close ties with the Taliban and has spoken in conciliatory tones about the group in recent weeks.
On a return flight from Montenegro on Sunday, he told journalists that Turkey would retain its diplomatic presence.
“Afghanistan must recover quickly. The Afghan people cannot bear such a burden,” he said.
Mr Erdogan also offered Turkish construction and infrastructure know-how while holding out the prospect of a “Libya-like” deal with the Taliban.
Turkey signed a security and military co-operation deal with Libya’s UN-recognised government in late 2019.
Despite its insistence on the removal of Turkish troops, the Taliban have also been making overtures to Ankara.
“The Turkish people and state are our friends. We have many reasons to continue this friendship,” Taliban spokesman Zabihullah Mujahid told Turkey’s state-run news agency on Sunday.
Any arrangement will be bound to result in Ankara recognising the Taliban as Afghanistan’s legitimate government.
However, potential Turkish involvement in the early stages of the post-US period has led to concern about policy direction.
“Currently, even the Taliban describe themselves as an interim administration; there’s no government. The phrase ‘Libya-like deal’ is a hasty statement,” said retired Brig Gen Ali Er.
Turkey seems to be pursuing a role in Afghanistan “no matter what happens,” he said. “I can explain the intent as strengthening Turkey as the go-between with the US and the EU, as well as China and Russia.”
Onur Oymen, a former Turkish diplomat and MP, also raised concerns about the current uncertainty in Afghanistan.
“It is unclear how much support the Taliban’s government will receive from around the world,” he said. “It is unclear where Afghanistan will go yet; there is no government. It is unclear what kind of governance will be formed ... It is incomprehensible to rush into the middle of all this uncertainty to say ‘We can make a deal'.”
Others suggested that Mr Erdogan’s eagerness to embrace the Taliban echoed his previous foreign ventures.
Gonul Tol, director of the Middle East Institute’s Centre for Turkish Studies, said Mr Erdogan “sees opportunity where others see trouble,” citing Turkey’s hosting of 3.7 million Syrian refugees that he has used as a “trump card” in relations with Europe.
“From Syria and Libya to the eastern Mediterranean, Turkey has been engaged in a high-stakes gambit in search of much-needed leverage,” she said. “Afghanistan is next in line.”
Dr Erdemir, meanwhile, said Mr Erdogan was banking on his close ties to Pakistan and Qatar to reach deals with the Taliban.
There has been a recent sharp rise in anti-migrant feelings – Turkey is home to an estimated 300,000 Afghans – and Karol Wasilewski, head of the Middle East and Africa programme at the Polish Institute of International Affairs, said this could create “bigger complications” for Mr Erdogan.
“Since Turkey’s presence in Afghanistan does not seem to be popular among the electorate, there may be additional pressure on the decision makers to withdraw from any deals with the Taliban,” he said.
But Dr Erdemir issued a warning that, in addition to security risks for Turkish contractors in Afghanistan, “such a close working relationship with the Taliban government could also further tarnish the Erdogan government’s image”.
Any deal between Ankara and the Taliban is “fraught with risks and it is unclear whether it will deliver the intended results, but Erdogan is determined to try”, Dr Tol said.
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.”
The specs
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
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Price: From Dh450,000, Autograph model from Dh510,000
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Company%20Profile
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UAE currency: the story behind the money in your pockets
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The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press
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Most sixes: 292 – Chris Gayle
Most fours: 491 – Gautam Gambhir
Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Highest strike-rate: 177.29 – Andre Russell
Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)
Highest average: 52.16 – Vijay Shankar
Most centuries: 6 – Chris Gayle
Most fifties: 36 – Gautam Gambhir
Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Sole survivors
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- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km