Turkey’s President Recep Tayyip Erdogan on Saturday poured the first load of cement in the building of what he has called his “crazy project” – a ship canal that runs around Istanbul, bypassing the Bosphorus Strait.
The ground-breaking ceremony at Sazlidere dam, west of the city, marked the start of a scheme that has been 10 years in the making and caused more controversy than any other undertaken during Mr Erdogan's 18-year rule.
But there are questions over whether the project, which envisages a 45-kilometre waterway linking the Sea of Marmara to the Black Sea, will be completed in the six-year time frame.
Among those leading objections to the canal are the mayor of Istanbul and the leader of the opposition party he represents.
Kemal Kilicdaroglu, who leads the Republican People's Party (CHP), has vowed to abandon the $15 billion plan if Mr Erdogan is defeated in elections due to be held in 2023.
Both he and Istanbul Mayor Ekrem Imamoglu, who is regarded as a potential presidential candidate, have also threatened to blacklist international finance and construction firms involved in the project.
“I suggest that any [person who] intends to do this job, who says ‘I will pay for this project, I will put this country in debt’, should sit down and think again a thousand times, because in two years’ time no one will deal with them on behalf of the country,” Mr Imamoglu said last weekend.
The mayor has already fired the first shot in what promises to be a protracted war between Mr Erdogan and the canal’s opponents by removing construction workers’ accommodation from land owned by the Istanbul water authority.
Turkish banks signed up to the UN’ green principles are reportedly reluctant to invest in the project, given the possibility of cancellation and environmental concerns.
The canal will cut through farms, marshes and about two dozen villages, destroying marine ecosystems as well as basins that provide nearly a third of Istanbul's fresh water.
Environmentalists have raised the alarm over the effect on the Sea of Marmara – already struggling with widespread mucilage, or “sea snot”, owing to rising water temperatures and pollution.
The nearby 8,500-year-old Yarimburgaz archaeological site is also under threat
Turkey's government has said tenders will be open to foreign investors but many say the scheme is a white elephant that will benefit only real estate speculators and builders.
The bridge Mr Erdogan inaugurated on Saturday is the first of six that will cross the canal in a project that will create a new urban centre of up to 1.2 million people.
This 860-metre, eight-lane bridge will connect to a highway linking Istanbul’s new airport and a third Bosphorus bridge – other developments in an infrastructure splurge under Mr Erdogan that have cost tens of billions of dollars.
"Today we are turning a new page in the history of Turkey's development," the president said on Saturday.
“We see Canal Istanbul as a project to save the future of Istanbul.”
Mr Erdogan highlighted the risk of shipping accidents in the Bosphorus before pressing a button to release the first batch of cement for the bridge's foundation as confetti and fireworks were set off.
Mr Imamoglu called the ceremony an "illusion" and said the bridge was planned years earlier as part of the North Marmara highway that also links the airport and the third Bosphorus bridge.
“Even if there was no such thing as Canal Istanbul on Turkey’s agenda today, this bridge would be built. That's the illusion,” he said on Thursday.
“In other words, the construction of a bridge here has nothing to do with the canal project. It’s something to do with the road hub.”
Many others have questioned the feasibility of the canal and raised suspicions that its main purpose is to profit pro-government firms that will build luxury homes, shopping centres and a marina alongside the waterway.
“Considering Istanbul Airport and the new regions opening to settlement, it is possible to say that the Canal Istanbul proposal is an integrated rent project,” said Ugur Emek, an economics professor at Baskent University in Ankara.
This is not a transportation project but a residential project that a canal passes through
Nuran Zeren Gulersoy, head of architecture at Istanbul's Isik University, said the project would harm "the quality of life" of Istanbul residents.
"In summary, this is not a transport project but a residential project that a canal passes through."
Kemal Doksanyedi, from Either the Canal or Istanbul, a coalition of NGOs, described the canal as a political project.
“The government needs a project, a vision, ahead of a possible early election,” he said.
Mr Doksanyedi said the president was trying to polarise opinion by pitting Istanbul's municipality against the central government led by My Erdogan's Justice and Development Party, or AKP.
“The AKP government has always made all kinds of election propaganda against the opposition and has succeeded through dissent.”
Cemal Saydam, professor of environmental engineering at Ankara's Hacettepe University, highlighted the risk of embarking on such an irreversible mega-project.
“Canal Istanbul is not a project that you can say ‘We made a mistake, let’s go back.’ Even if you regret it, there is never any going back,” he said.
“Therefore, this project should not happen.”
The Pope's itinerary
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
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What is type-1 diabetes
Type 1 diabetes is a genetic and unavoidable condition, rather than the lifestyle-related type 2 diabetes.
It occurs mostly in people under 40 and a result of the pancreas failing to produce enough insulin to regulate blood sugars.
Too much or too little blood sugar can result in an attack where sufferers lose consciousness in serious cases.
Being overweight or obese increases the chances of developing the more common type 2 diabetes.
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
Killing of Qassem Suleimani
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
More coverage from the Future Forum
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Zayed Sustainability Prize
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
UAE SQUAD
UAE team
1. Chris Jones-Griffiths 2. Gio Fourie 3. Craig Nutt 4. Daniel Perry 5. Isaac Porter 6. Matt Mills 7. Hamish Anderson 8. Jaen Botes 9. Barry Dwyer 10. Luke Stevenson (captain) 11. Sean Carey 12. Andrew Powell 13. Saki Naisau 14. Thinus Steyn 15. Matt Richards
Replacements
16. Lukas Waddington 17. Murray Reason 18. Ahmed Moosa 19. Stephen Ferguson 20. Sean Stevens 21. Ed Armitage 22. Kini Natuna 23. Majid Al Balooshi
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
Bombshell
Director: Jay Roach
Stars: Nicole Kidman, Charlize Theron, Margot Robbie
Four out of five stars