Fighting around Nagorno-Karabakh in the southern Caucasus has renewed pressure on Turkey’s ethnic Armenian minority as Ankara ramps up support for its long-standing ally Azerbaijan.
Mostly living in Istanbul, Armenian Turks number around 60,000, a huge drop from the estimated 1.5 million to 2.4 million who lived across eastern Anatolia before World War I, during which the population faced massacres and expulsions by Ottoman forces.
The resumption of the conflict between the former Soviet republics of Armenia and Azerbaijan has seen the re-emergence of anti-Armenian sentiment in Turkey, both online and in traditional media.
Garo Paylan, an opposition MP of Armenian ancestry, claimed the Turkish government’s bellicose support for Azerbaijan and anti-Armenian rhetoric was fuelled by “racist motives” that posed a danger to Armenian Turks.
“Why do you perceive Azerbaijanis as brothers and Armenians as the enemy when we have Azerbaijani and Armenian citizens,” he said in comments directed at Vice President Fuat Oktay.
“Are you aware that your hate speech towards the Armenian people is making our Armenian citizens a target?”
The words of politicians and newspaper columnists were reflected in a demonstration outside the Istanbul headquarters of the Armenian Patriarchate on Monday when a convoy of cars decked in Azerbaijani and Turkish flags passed the building sounding their horns.
In the southern city of Sanliurfa, fire engines processed around the city similarly bedecked in flags.
Mr Paylan called the Istanbul demonstration a “provocation” and demanded the government address “hate crimes”.
Even before fresh fighting resumed at the weekend around Nagorno-Karabakh, an enclave seized from Azerbaijan by Armenia-backed secessionists in the early 1990s, a report identified Armenians as the group most targeted by hate speech in the Turkish media.
The Hrant Dink Foundation – named after a Turkish-Armenian journalist murdered in 2007 – reported on Sept 18 that 803 articles targeted Armenians last year, with many written around the day that marks the 1915 Armenian genocide, a term that itself draws fierce reaction in Turkey.
Yetvart Danzikyan, editor-in-chief of the dual Turkish-Armenian language Agos newspaper, said the conflict had roused nationalist feelings in Turkey that were raising concerns in the Armenian community.
“Whether it’s Karabakh or a decision taken by the US legislature on [recognising] the Armenian genocide, unfortunately, Turkish-Armenians feel that the spotlight is suddenly turning on them, and of course it creates anxiety among them,” he said.
Turkey’s affinity with Azerbaijan stems from their shared Turkic ethnicity, language and culture, prompting the expression that they are “one nation, two states”, although their citizens largely follow different strands of Islam.
They have deep economic ties, particularly regarding energy with much of Turkey’s natural gas coming from its neighbour while Baku’s oil and gas reserves cross Turkey to reach overseas markets.
Militarily, the two countries are also close. They signed a defence pact 10 years ago and their armed forces regularly carry out joint exercises. There is also talk of Turkey establishing a permanent military base in Azerbaijan
In addition, Turkey’s President Recep Tayyip Erdogan and his Azerbaijani counterpart Ilhan Aliyev have a close personal relationship.
The renewal of hostilities on Sunday has seen some 100 people killed, including civilians, in the heaviest clashes in the stop-start conflict since 2016. Both sides blame the other for reigniting the war.
The conflict threatens to draw in Turkey, which has denied sending air power and Syrian mercenaries to support Azerbaijan, while Russia supports Armenia, although Moscow also has good ties with Baku.
Turkish Foreign Minister Mevlut Cavusoglu on Wednesday reiterated Mr Erdogan’s comments that Turkey would “stand by” its ally if it chose to solve the dispute “on the ground”.
Such remarks have been amplified in Turkey’s pro-government media with a leading commentator in the Yeni Safak newspaper calling for Azerbaijan to launch an all-out war.
The media has also sought to align Armenia with the Kurdistan Worker’s Party (PKK), which has fought a 36-year insurgency against Turkey and is designated a terrorist group by the US and the EU as well as Ankara.
The state-run Anadolu news agency on Monday reported claims by the Azerbaijani ambassador to Ankara that PKK fighters had been recruited to fight alongside Armenian forces, as well as members of an Armenian terror group that targeted Turkish diplomats and airlines in the 1970s and 1980s but has not been active for more than two decades.
The claims were described as “absolute nonsense” by Armenian President Armen Sarkissian.
On Wednesday, Turkish media outlets carried reports of Armenians and “PKK sympathisers” holding an “anti-Turkey” rally in Paris.
Rober Koptas, who runs Aras Publishing in Istanbul, compared the current climate to previous anti-Armenian pogroms.
“Armenians experience this fear very vividly,” he said. “It’s a community that’s already cowering and is closed. When this rhetoric is expressed on social media or in other forms, these fears that already exist in Armenians are exaggerated and life gets a little more difficult.”
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Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
MATCH INFO
Karnataka Tuskers 110-5 (10 ovs)
Tharanga 48, Shafiq 34, Rampaul 2-16
Delhi Bulls 91-8 (10 ovs)
Mathews 31, Rimmington 3-28
Karnataka Tuskers win by 19 runs
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
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Second ODI
England 322-7 (50 ovs)
India 236 (50 ovs)
England win by 86 runs
Next match: Tuesday, July 17, Headingley
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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.”
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions