It’s official. Thanks to persistent financial turmoil, Turkey’s lira just logged its worst year since the ruling AKP came to power two decades ago, shedding 44 per cent of its value in 2021 to become the worst-performing currency in emerging markets.
President Recep Tayyip Erdogan temporarily reversed the decline last month when he unveiled an economic rescue plan focused on exports and credit, sharply increased the minimum wage and urged citizens to keep their savings in lira. “The Turkish lira, our money, that is what we will go forward with,” he said last week. “Not with this foreign currency or that foreign currency.”
Yet, the Turkish economy finds itself in its worst state in 20 years. The lira fell as low as 18.4 to the dollar last month, when inflation hit a 20-year peak of 36.1 per cent, according to government data. Some observers doubt this latter figure. Over the past year, the price of flour leapt 86 per cent and pasta 114 per cent, as countless Turks struggled to pay their bills and put food on the table.
The last time the lira was this weak and inflation this high was in 2001, when protesters called for the coalition government to step down and the International Monetary Fund had to step in to stem the crisis. That turmoil led to the surprise electoral victory of the newly founded AKP in late 2002, after which Turkey embarked on more than a decade of steady economic expansion.
History may soon repeat itself, as crucial presidential and parliamentary elections loom next year and the latest polls put the AKP and its parliamentary partner, the nationalist MHP, several points behind the opposition alliance of the CHP and IYI parties.
In a survey published last week by leading pollster MetroPoll, Mr Erdogan placed fourth among possible presidential candidates. The Turkish leader, who will mark 19 years in power in March, received an approval rating of less than 38 per cent, behind IYI Party leader Meral Aksener and Istanbul’s charismatic mayor Ekrem Imamoglu, of the CHP.
The big surprise may have been the CHP’s Mansur Yavas. Not only did the Ankara mayor top the poll by a sizable margin – receiving 60 per cent support compared to 50 per cent for second-place Mr Imamoglu – but he was viewed negatively by less than one quarter of those polled, compared respectively to 53 and 55 per cent for Ms Aksener and Mr Erdogan.
So who is Mr Yavas, and how has he emerged as Turkey’s most popular politician? For starters, he had a working-class upbringing and has remained close to his roots. Born and raised in Beypazari, a small city 100 kilometres west of the capital Ankara, that’s also where he first emerged as a political force, becoming mayor in 1999.
He gained some public sympathy in 2014, when he lost the Ankara mayoral vote by a single percentage point in a result referred to the European Court of Human Rights amid accusations of fraud. Previously aligned with the MHP, he appeals to nationalists as well as the Kemalists who favour the CHP, the party of Turkey’s founder Mustafa Kemal Ataturk. When he won the Ankara mayor’s seat in March 2019, he joined friends in celebratory shouts of “Allahu Akbar", highlighting his conservative credentials as well.
His performance in office has been widely praised, notably for his anti-corruption drive. To boost transparency, Mr Yavas has live-streamed the city’s public tender decisions, including a steel pipes purchase reportedly viewed by 400,000 people. He also sold off dozens of expensive cars bought by the previous administration run by the AKP’s Melih Gokcek.
His robust pandemic response, which included using social media to raise hundreds of millions of lira for increased social assistance, has also drawn favourable reviews. Despite being in his mid-60s, he has made in-roads with younger voters, like hosting a video chat on the streaming platform Twitch that broke viewership records in Turkey. This may be crucial as Turkish citizens born after 1980 represent about one third of all voters.
Mr Yavas has also embraced an eco-friendly agenda, laying new bike lanes, electrifying public transport and reducing demand on the city’s overtaxed water system. Last week, he announced a new round of natural gas subsidies to all households, days after the government raised fuel prices.
Much time remains before the big vote, currently scheduled for June 2023
Turkey’s lira and inflationary troubles look set to continue in the coming months. Goldman Sachs expects inflation to tick above 40 per cent, while JP Morgan foresees a peak of 55 per cent in May. Such international observers may have come to doubt the acumen of those overseeing the Turkish economy. Asked last month about the latest economic data, Finance Minister Nureddin Nebati said on national TV: “Look into my eyes. What do you see?” If viewers didn’t know any better, they might think he was suggesting mass hypnosis.
Despite these favourable political winds, the CHP has yet to choose its presidential candidate. Mr Imamoglu and fellow party leader Kemal Kilicdaroglu have both signalled their interest in running, and the former seems to have significant domestic and international support. Turkey’s Interior Ministry last month launched investigations into hundreds of Istanbul officials for possible terrorist links, which could tarnish the city’s mayor, depending on the results.
Much time remains before the big vote, currently scheduled for June 2023. Mr Yavas’s surname means “slow” in Turkish, and the Ankara mayor is likely to remind voters of the common Turkish phrase, “Yavas, yavas”. It’s a reminder that developments often happen gradually, that understanding and achievement tend to arrive not in a flash, but only in good time.
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
The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
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The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
WWE TLC results
Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair
Dean Ambrose won the Intercontinental title against Seth Rollins
Daniel Bryan retained the WWE World Heavyweight Championship against AJ Styles
Ronda Rousey retained the Raw Women's Championship against Nia Jax
Rey Mysterio beat Randy Orton in a chairs match
Finn Balor defeated Drew McIntyre
Natalya beat Ruby Riott in a tables match
Braun Strowman beat Baron Corbin in a TLC match
Sheamus and Cesaro retained the SmackDown Tag Titles against The Usos and New Day
R-Truth and Carmella won the Mixed Match Challenge by beating Jinder Mahal and Alicia Fox
The specs
Engine: 3.8-litre V6
Power: 295hp at 6,000rpm
Torque: 355Nm at 5,200rpm
Transmission: 8-speed auto
Fuel consumption: 10.7L/100km
Price: Dh179,999-plus
On sale: now
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Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
EA Sports FC 24
Company%20profile
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Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
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The flights: South African Airways flies from Dubai International Airport with a stop in Johannesburg, with prices starting from around Dh4,000 return. Emirates can get you there with a stop in Lusaka from around Dh4,600 return.
The details: Visas are available for 247 Zambian kwacha or US$20 (Dh73) per person on arrival at Livingstone Airport. Single entry into Victoria Falls for international visitors costs 371 kwacha or $30 (Dh110). Microlight flights are available through Batoka Sky, with 15-minute flights costing 2,265 kwacha (Dh680).
Accommodation: The Royal Livingstone Victoria Falls Hotel by Anantara is an ideal place to stay, within walking distance of the falls and right on the Zambezi River. Rooms here start from 6,635 kwacha (Dh2,398) per night, including breakfast, taxes and Wi-Fi. Water arrivals cost from 587 kwacha (Dh212) per person.
UAE currency: the story behind the money in your pockets
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Killing of Qassem Suleimani
Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
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The Dark Blue Winter Overcoat & Other Stories From the North
Edited and Introduced by Sjón and Ted Hodgkinson
Pushkin Press
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Company%20profile
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Leading all-time NBA scorers
Kareem Abdul-Jabbar 38,387
Karl Malone 36,928
Kobe Bryant 33,643
Michael Jordan 32,292
LeBron James 31,425
Wilt Chamberlain 31,419
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
HAJJAN
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Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
