Turkey's president Recep Tayyip Erdogan has clamped down on rivals since the failed 2016 coup (AP)
Turkey's president Recep Tayyip Erdogan has clamped down on rivals since the failed 2016 coup (AP)
Turkey's president Recep Tayyip Erdogan has clamped down on rivals since the failed 2016 coup (AP)
Turkey's president Recep Tayyip Erdogan has clamped down on rivals since the failed 2016 coup (AP)

Turkish tycoon fights "politically motivated" London extradition trial


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Turkey has turned into a “morass of paranoia” with the court system used as a state tool to silence the opponents of the regime of Recep Tayyip Erdogan, a London court heard on Wednesday.

Mr Erdogan’s regime would strain every sinew to ensure that alleged plotters involved in a 2016 coup would spend the rest of their lives in prison, according to lawyers for a prominent businessman who fled to London in 2015 and is fighting extradition to Turkey.

Turkey wants Akin Ipek and two other men to stand trial on terrorism charges over their alleged links to the Gulenist movement, which the Turkish government said is behind a failed 2016 coup attempt in Turkey that left 250 people dead.

Turkey has repeatedly sought to extradite the leader Fethullah Gulen from the US and tens of thousands of alleged supporters have been arrested. If convicted Ipek could face life in jail.

The men claim the move is political and are fighting the moves for extradition during the hearing at Westminster magistrates court. The outcome of the hearing is likely to test diplomatic ties between Ankara and London despite a recent warming of ties between the sides.

Hugo Keith, the lawyer for Mr Ipek, said the Turkish prosecution had been brought under executive control to purge the country of opponents and consolidate the power of President Erdogan.

“It has become a truly authoritarian regime, which now faces an economic crisis with a plunging currency, high inflation, rising borrowing costs, and loan defaults – none of which is conducive to a speedy restoration of the rule of law,” said Mr Keith.

“The international consensus is that in the five years since (then Prime Minster and now President) Erdoğan deliberately intervened in a criminal investigation which pointed to corruption in his government and his own family … rule of law in Turkey has been abrogated.”

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Mr Ipek owned a raft of media outlets opposed to President Erdogan before being shut down by armed police. He also holds extensive assets in the mining, aviation, agriculture, health and insurance sectors. His Ipek University has been accused of being a Gulenist institution - an “outlandish suggestion” the defence said.

“The police, prosecution and judiciary have been brought under the control of the executive, while, at the same time, any independent media has been silenced Mr Keith added.

“These proceedings are merit-less, politically-motivated, and incompatible with the most fundamental protections of the European Convention on Human Rights,” said Mr Keith, for Mr Ipek and his co-accused Talip Büyük and Ali Çelik. He also cited the state of prisons in Turkey.

Turkey insist the extradition request is not politically motivated.

The hearing continues.

How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

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Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

MATCH INFO

Norwich City 1 (Cantwell 75') Manchester United 2 (Aghalo 51' 118') After extra time.

Man of the match Harry Maguire (Manchester United)

RESULTS

Dubai Kahayla Classic – Group 1 (PA) $750,000 (Dirt) 2,000m
Winner: Deryan, Ioritz Mendizabal (jockey), Didier Guillemin (trainer).
Godolphin Mile – Group 2 (TB) $750,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar
Dubai Gold Cup – Group 2 (TB) $750,000 (Turf) 3,200m
Winner: Subjectivist, Joe Fanning, Mark Johnston
Al Quoz Sprint – Group 1 (TB) $1million (T) 1,200m
Winner: Extravagant Kid, Ryan Moore, Brendan Walsh
UAE Derby – Group 2 (TB) $750,000 (D) 1,900m
Winner: Rebel’s Romance, William Buick, Charlie Appleby
Dubai Golden Shaheen – Group 1 (TB) $1.5million (D) 1,200m
Winner: Zenden, Antonio Fresu, Carlos David
Dubai Turf – Group 1 (TB) $4million (T) 1,800m
Winner: Lord North, Frankie Dettori, John Gosden
Dubai Sheema Classic – Group 1 (TB) $5million (T) 2,410m
Winner: Mishriff, John Egan, John Gosden

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

Dunki
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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

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21 Lessons for the 21st Century

Yuval Noah Harari, Jonathan Cape
 

Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
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Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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UAE currency: the story behind the money in your pockets
Pakistan squad

Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi