Turkey is increasing tariffs on imports of United States products, escalating a feud that has also triggered a currency crisis.
The country's Official Gazette announced on Wednesday the higher tariffs on a series of products including rice, vehicles, alcohol, coal and cosmetics.
Turkey's Vice President Fuat Oktay said on Twitter that the tariffs were increased "within the framework of the principle of reciprocity in retaliation for the conscious economic attacks by the United States".
The Turkish lira has dropped to record lows in recent weeks, having fallen 42 per cent so far this year. The currency has now stabilised at around 6.50 lira against the dollar.
Investors are worried not only about Turkey's souring relations with the US, a longtime NATO ally, but also Turkish President Recep Tayyip Erdogan's economic policies and the country's high debt accumulated in foreign currencies.
Turkey has accused the US of waging an "economic war" as part of a plot to harm the country.
Washington has imposed financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey, as US President Donald Trump tries to secure the release Andrew Brunson, an American pastor being tried in Turkey on espionage and terrorism-related charges.
The decision to impose new tariffs came a day after Mr Erdogan said Turkey would boycott US electronic goods, singling out iPhones. He suggested Turks would buy local or Korean phones instead, although it was unclear how he intended to enforce the boycott.
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Read more:
Life in Turkey: 'Things are not going in a good direction'
Erdogan says Turkey will boycott US electronics
Editorial: Turkey's economic crisis is of Erdogan's making
Lira rout helps Turkish firms buy bonds back on the cheap
General Classification
1. Elisa Longo Borghini (ITA) Trek-Segafredo
2. Gaia Realini (ITA) Trek-Segafredo 7 secs
3. Silvia Persico (ITA) UAE Team ADQ 1 min 18 secs
Find the right policy for you
Don’t wait until the week you fly to sign up for insurance – get it when you book your trip. Insurance covers you for cancellation and anything else that can go wrong before you leave.
Some insurers, such as World Nomads, allow you to book once you are travelling – but, as Mr Mohammed found out, pre-existing medical conditions are not covered.
Check your credit card before booking insurance to see if you have any travel insurance as a benefit – most UAE banks, such as Emirates NBD, First Abu Dhabi Bank and Abu Dhabi Islamic Bank, have cards that throw in insurance as part of their package. But read the fine print – they may only cover emergencies while you’re travelling, not cancellation before a trip.
Pre-existing medical conditions such as a heart condition, diabetes, epilepsy and even asthma may not be included as standard. Again, check the terms, exclusions and limitations of any insurance carefully.
If you want trip cancellation or curtailment, baggage loss or delay covered, you may need a higher-grade plan, says Ambareen Musa of Souqalmal.com. Decide how much coverage you need for emergency medical expenses or personal liability. Premium insurance packages give up to $1 million (Dh3.7m) in each category, Ms Musa adds.
Don’t wait for days to call your insurer if you need to make a claim. You may be required to notify them within 72 hours. Gather together all receipts, emails and reports to prove that you paid for something, that you didn’t use it and that you did not get reimbursed.
Finally, consider optional extras you may need, says Sarah Pickford of Travel Counsellors, such as a winter sports holiday. Also ensure all individuals can travel independently on that cover, she adds. And remember: “Cheap isn’t necessarily best.”
THE SPECS
Engine: six-litre W12 twin-turbo
Transmission: eight-speed dual clutch auto
Power: 626bhp
Torque: 900Nm
Price: Dh940,160 (plus VAT)
On sale: Q1 2020
Zayed Sustainability Prize
WHAT MACRO FACTORS ARE IMPACTING META TECH MARKETS?
• Looming global slowdown and recession in key economies
• Russia-Ukraine war
• Interest rate hikes and the rising cost of debt servicing
• Oil price volatility
• Persisting inflationary pressures
• Exchange rate fluctuations
• Shortage of labour/skills
• A resurgence of Covid?
The specs: Panamera Turbo E-Hybrid
Engine: 4.0-litre twin-turbo V8 hybrid
Power: 680hp
Torque: 930Nm
Transmission: Eight-speed dual-clutch auto
Price: From Dh749,000
On sale: Now
The specs: 2024 Panamera
Engine: 2.9-litre twin-turbo V6
Power: 353hp
Torque: 500Nm
Transmission: Eight-speed dual-clutch auto
Price: From Dh408,200
On sale: Now
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
SPECS
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The five pillars of Islam
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
RESULTS
3.30pm: Al Maktoum Challenge Round 3 – Group 1 (PA) $75,000 (Dirt) 2,000m
Winner: Jugurtha De Monlau, Pat Dobbs (jockey), Jean-Claude Pecout (trainer)
4.05pm: Dubai City Of Gold – Group 2 (TB) $250,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby
4.40pm: Burj Nahaar – Group 3 (TB) $250,000 (D) 1,600m
Winner: Discovery Island, James Doyle, Bhupat Seemar
5.15pm: Nad Al Sheba Turf Sprint – Group 3 (TB) $250,000 (T) 1,200m
Winner: Al Dasim, Mickael Barzalona, George Boughey
5.50pm: Al Bastakiya – Listed (TB) $170,000 (D) 1,900m
Winner: Go Soldier Go, Adrie de Vries, Fawzi Nass
6.25pm: Al Maktoum Challenge Round 3 – Group 1 (TB) $450,000 (D) 2,000m
Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
7.10pm: Ras Al Khor – Conditions (TB) $300,000 (T) 1,400m
Winner: Al Suhail, William Buick, Charlie Appleby
7.45pm: Jebel Hatta – Group 1 (TB) $350,000 (T) 1,800m
Winner: Alfareeq, Dane O’Neill, Charlie Appleby
8.20pm: Mahab Al Shimaal – Group 3 (TB) $250,000 (D) 1,200m
Winner: Sound Money, Mickael Barzalona, Bhupat Seemar
CHATGPT ENTERPRISE FEATURES
• Enterprise-grade security and privacy
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Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
The years Ramadan fell in May
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
The biog
Favourite book: Men are from Mars Women are from Venus
Favourite travel destination: Ooty, a hill station in South India
Hobbies: Cooking. Biryani, pepper crab are her signature dishes
Favourite place in UAE: Marjan Island
57 Seconds
Director: Rusty Cundieff
Stars: Josh Hutcherson, Morgan Freeman, Greg Germann, Lovie Simone
Rating: 2/5
How do Sim card scams work?
Sim swap frauds are a form of identity theft.
They involve criminals conning mobile phone operators into issuing them with replacement Sim cards by claiming to be the victim, often pretending their phone has been lost or stolen in order to secure a new Sim.
They use the victim's personal details - obtained through criminal methods - to convince such companies of their identity.
The criminal can then access any online service that requires security codes to be sent to a user's mobile phone, such as banking services.
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
The specs: Rolls-Royce Cullinan
Price, base: Dh1 million (estimate)
Engine: 6.75-litre twin-turbo V12
Transmission: Eight-speed automatic
Power: 563hp @ 5,000rpm
Torque: 850Nm @ 1,600rpm
Fuel economy, combined: 15L / 100km
