Turkish Foreign Minister Mevlut Cavusoglu and German Foreign Minister Sigmar Gabriel talk in Goslar, Germany, January 6, 2018. REUTERS/Sven Pfoertner/POOL

Germany and Turkey seek to rescue relations from 'current spiral'



The foreign ministers of Turkey and Germany pledged on Saturday to mend the soured ties between their two countries in what is seen in Germany as a Turkish charm offensive aimed at boosting economic growth.

Mevlut Cavusoglu visited Sigmar Gabriel for talks in the latter’s home town of Goslar in central Germany, where they told reporters it was time for a restart following a host of disputes including a row over Ankara’s crackdown in the wake of the 2016 coup attempt.

The foreign ministers were at pains to sound conciliatory during the meeting, which included a tour of an 11th-century imperial palace, lunch and a walk through the streets of the picturesque town.

“We’ve both made it our business to do everything we can to overcome the difficulties there have been in German-Turkish relations and to find more common ground in the future by remembering everything that binds us together,” Mr Gabriel told a joint briefing with Mr Cavusoglu.

Mr Cavusoglu wrote in a guest editorial published in several German newspapers that the two countries “must break the current spiral of crisis in our relationship”.

On Friday, Turkish president Recep Tayyip Erdogan visited Paris for the first time since the coup bid in another fence-mending exercise that was however marred by a spat with a French journalist who asked him about alleged Turkish arms shipments to Islamist rebels in Syria.

Relations between Turkey and Europe — and Germany in particular — hit a low point last year with the arrests of German citizens and fierce rhetoric from Mr Erdogan.

In March, he caused outrage in Germany by accusing chancellor Angela Merkel of employing “Nazi methods” after local German authorities refused to allow some Turkish politicians to address election rallies among Turkish immigrants.

Mr Cavusoglu said Germany had failed to grasp the impact the coup had had on Turkey.

“We think that the trauma that the coup attempt of July 15, 2016 caused in our population wasn’t fully understood there,” he wrote in the editorial. “We expect our German friends to better understand the situation that Turkey is currently confronted with.”

Turkey has accused Germany and other western countries of failing to condemn the coup quickly or forcefully enough and of sheltering people involved in it, as well as harbouring Kurdish and far-leftist militants.

Tensions had already been rising before the coup. There had been criticism in Germany over what is perceived as Mr Erdogan’s increasingly authoritarian, undemocratic rule, and Turkey was enraged by a German parliamentary resolution declaring the 1915 massacre of Armenians by Ottoman forces a genocide.

Relations were not helped by a German comedian who hurled personal insults at Mr Erdogan, prompting the president to retaliate with legal action in Germany.

Germany is home to around 3 million people of Turkish origin, giving it the largest Turkish diaspora in Europe.

The two Nato allies depend on each other. Ms Merkel, beleaguered at home over her open-door refugee policy, was one of the main architects of an EU deal in March 2016 under which Turkey got some €6 billion (Dh26.5bn) in return for helping to end illegal migration of asylum-seekers from its territory to Europe.

Most of the refugees from Syria and other conflict-hit regions of the Middle East were trying to get to Germany and the numbers reaching the German borders have fallen sharply since 2015, partly thanks to that deal.

In addition, the EU is Turkey’s main trading partner by far, and within the bloc Germany is the biggest.

Mr Gabriel and Mr Cavusoglu acknowledged that differences remained, including on whether Turkey should be allowed to join the European Union, which Germany opposes.

Mr Cavusoglu said: “There is benefit in pushing our disagreements aside and continuing on our path. We should focus on issues that serve as win-win for our countries, like the customs union.”

Membership of the EU’s customs union is a major boon for trade because no customs duties are levied on goods travelling within it. Turkey and the EU have had a customs union on trade since 1996 but Germany has blocked talks to update it and widen it to include services and agricultural products.

One of the main disputes at present centres around the arrest last February of Deniz Yucel, a correspondent for German newspaper Die Welt who has both German and Turkish citizenship. He faces terrorism-related accusations.

But there are signs that he could be freed soon following the release last month of another German journalist, Mesale Tolu, and of German human rights activist Peter Frank Steudtner in October.

Mr  Gabriel said he had discussed difficult issues including Yucel's case with Mr Cavusoglu, but did not give details.

Commentators in Germany said the reconciliation under way was pure realpolitik by Turkey aimed at boosting European investment and trade to keep the economy buoyant ahead of general elections due next year.

"Erdogan may be focusing on de-escalation in foreign policy at the moment. At home he's continuing his authoritarian course unrelentingly," German magazine Der Spiegel wrote. "The German government should seek dialogue with Erdogan. But it shouldn't think it's talking to a democrat."

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Could We Be More

Artist: Kokoroko
Label: Brownswood Recordings
Rating: 3.5/5

SPEC SHEET

Processor: Apple M2, 8-core CPU, up to 10-core CPU, 16-core Neural Engine

Display: 13.6-inch Liquid Retina, 2560 x 1664, 224ppi, 500 nits, True Tone, wide colour

Memory: 8/16/24GB

Storage: 256/512GB / 1/2TB

I/O: Thunderbolt 3 (2), 3.5mm audio, Touch ID

Connectivity: Wi-Fi 6, Bluetooth 5.0

Battery: 52.6Wh lithium-polymer, up to 18 hours, MagSafe charging

Camera: 1080p FaceTime HD

Video: Support for Apple ProRes, HDR with Dolby Vision, HDR10

Audio: 4-speaker system, wide stereo, support for Dolby Atmos, Spatial Audio and dynamic head tracking (with AirPods)

Colours: Silver, space grey, starlight, midnight

In the box: MacBook Air, 30W or 35W dual-port power adapter, USB-C-to-MagSafe cable

Price: From Dh4,999

'Dark Waters'

Directed by: Todd Haynes

Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper 

Rating: ****

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

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.

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Roll of Honour, men’s domestic rugby season

West Asia Premiership
Champions: Dubai Tigers
Runners up: Bahrain

UAE Premiership
Champions: Jebel Ali Dragons
Runners up: Dubai Hurricanes

UAE Division 1
Champions: Dubai Sharks
Runners up: Abu Dhabi Harlequins II

UAE Division 2
Champions: Dubai Tigers III
Runners up: Dubai Sharks II

Dubai Sevens
Champions: Dubai Tigers
Runners up: Dubai Hurricanes

Sweet Tooth

Creator: Jim Mickle
Starring: Christian Convery, Nonso Anozie, Adeel Akhtar, Stefania LaVie Owen
Rating: 2.5/5

Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

Isle of Dogs

Director: Wes Anderson

Starring: Bryan Cranston, Liev Schreiber, Ed Norton, Greta Gerwig, Bill Murray, Jeff Goldblum, Scarlett Johansson

Three stars

SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 3/5

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