An Afghan migrant her daughter at a refugee camp on the Greek island of Moria, one of the common destinations for people entering the EU from Turkey. Reuters
An Afghan migrant her daughter at a refugee camp on the Greek island of Moria, one of the common destinations for people entering the EU from Turkey. Reuters
An Afghan migrant her daughter at a refugee camp on the Greek island of Moria, one of the common destinations for people entering the EU from Turkey. Reuters
An Afghan migrant her daughter at a refugee camp on the Greek island of Moria, one of the common destinations for people entering the EU from Turkey. Reuters

Turkey-EU migration at highest level since March 2020


Tim Stickings
  • English
  • Arabic

The number of migrants entering the EU via Turkey has risen to its highest level since the pandemic erupted in Europe.

There were 799 arrivals from Turkey in the last week of August. It was the highest figure since the first week of March 2020, when 970 people arrived during border tensions between Turkey and Greece.

Travel restrictions were brought in soon afterwards to contain the coronavirus, leading to a sharp reduction in migrants crossing to Europe.

The latest increase comes amid concerns in Europe over a refugee crisis triggered by the chaos in Afghanistan.

President Recep Tayyip Erdogan has signalled to Brussels that Turkey will not become Europe’s “refugee warehouse” after the Afghan crisis.

The Istanbul governor’s office has reported frequent round-ups of Afghan migrants who are placed in holding centres for deportation.

More than 500 Afghans were arrested in the space of three days in late August, the period when migration into the EU reached its highest level for 18 months.

An EU official confirmed the figures to The National after an internal report on migration was leaked to German media.

While some migrants enter the EU by crossing from Turkey to Greece, many are taking an alternative route to Italy, the report showed.

More than 5,000 people have arrived in Italy from Turkey this year, the UN’s refugee agency UNHCR said this week. This is similar to the number who have entered Greece.

At least 1,146 people have died on the sea route to Europe this year, a figure more than double that in the comparable period of 2020.

Greece has increased security at its border with Turkey, with a fence seen here near the Greek city of Alexandroupolis. Reuters
Greece has increased security at its border with Turkey, with a fence seen here near the Greek city of Alexandroupolis. Reuters

Europe is determined to prevent a repeat of the 2015 migration crisis when more than a million people surged across EU borders, many from Syria.

Turkey hosts millions of refugees under a deal struck with the EU in 2016 to prevent people entering the bloc and there have been calls to renew the pact.

Greece has bolstered its defences since the March 2020 crisis when Turkey opened its borders in what the EU described as an organised attack.

Athens last month unveiled a 40-kilometre border fence and surveillance system to catch potential asylum seekers fleeing Afghanistan.

Some migrants live in camps on Greek islands. Athens says Ankara has refused to co-operate on deportations since the outbreak of the pandemic.

EU countries want to head off a refugee wave by helping Afghanistan’s neighbours to assist people on their territory. The German and Italian foreign ministers have visited the region since the fall of Kabul.

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Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

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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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Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

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The cost of Covid testing around the world

Egypt

Dh514 for citizens; Dh865 for tourists

Information can be found through VFS Global.

Jordan

Dh212

Centres include the Speciality Hospital, which now offers drive-through testing.

Cambodia

Dh478

Travel tests are managed by the Ministry of Health and National Institute of Public Health.

Zanzibar

AED 295

Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.

Abu Dhabi

Dh85

Abu Dhabi’s Seha has test centres throughout the UAE.

UK

From Dh400

Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.

Tailors and retailers miss out on back-to-school rush

Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

 

 

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Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
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Price: base / as tested: Dh382,000

Engine: 5.6-litre V8

Gearbox: Seven-speed automatic

Power: 428hp @ 5,800rpm

Torque: 560Nm @ 3,600rpm

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Updated: September 07, 2021, 9:48 AM