Turkish President Recep Tayyip Erdogan early this month laid out bold plans for his country’s nascent space programme, most notably including a moon landing in 2023, the year of the Turkish Republic’s centennial as well as its next national election.
Further details emerged last week, including a budget of more than $1 billion and the selection of Somalia for the site of a rocket launch, due to its proximity to the equator.
Government critics have piled on, claiming that the ambitious 10-year space programme is mainly a diversion from a deeply troubled economy and weak polling numbers. The opposition DEVA party tweeted out a mock newspaper front page showing an astronaut pushing a shopping cart over the surface of the moon, highlighting Turks’ more immediate concerns.
Opposition politicians have pointed out that the Turkish Space Agency has a budget of just $40 million
But space exploration tends to boost a country's science and tech sectors, and Turkey’s space vision dovetails with some of its other international initiatives. The choice of Somalia, for instance, furthers Ankara’s broader push into Africa, where Turkish trade has leapt from $3bn to $26bn under the ruling Justice and Development Party (AKP) and the number of Turkish embassies has nearly quadrupled, from 12 to 42.
After giving considerable aid to Somalia and building a military base there, Mr Erdogan is said to be close with Somali President Mohamed Abdullahi Mohamed. He is, of course, also friendly with Prime Minister Fayez Al Sarraj of Libya’s Government of National Accord, which Turkey has bolstered with a sizable military intervention in return for a maritime borders agreement and likely future economic deals.
It comes as no surprise that Turkey seems to view its space programme and broader technological development as key to gaining a place among the world’s most advanced states and a seat at a more influential diplomatic table.
“Each new discovery in space has the potential of increasing international co-operation, serving the interests of world peace,” Mustafa Varank, Turkey’s industry and technology minister, said in a tweet praising the UAE’s successful Mars mission.
In response, Sarah Al Amiri, the UAE's Minister of State for Advanced Technology wished Turkey success in its own future space missions.
Relations between Ankara and the Emirates have been mostly frosty since several Gulf states’ severing of relations in 2017 with Qatar, Turkey’s close ally and fellow Muslim Brotherhood supporter. Now that relations have been largely restored in recent weeks, Turkey has expressed interest in rekindling ties with the UAE as well as Saudi Arabia.
This explains why top Erdogan adviser Fahrettin Altun, the president’s communications director, shared Mr Varank’s post. “Space is the ultimate reminder of humanity’s unity,” Mr Altun said in his own tweet. “Congratulations on this accomplishment.”
There is some history of space programmes bridging diplomatic divides. Starting in the 1970s and 80s, the US and USSR, foes in the Cold War at the time, began collaborating on the Apollo-Soyuz and Shuttle-Mir projects, laying the groundwork for diplomacy. This was followed by the two working closely to build the International Space Station, which hosted Americans and Russians working side by side for years.
Turkey has already begun leveraging the development of its tech and defence sectors to build stronger regional ties. In the past year Ankara inked major defence deals with Pakistan and Ukraine, underscoring its advanced capabilities. Advanced Turkish drones have repeatedly made their mark on the battlefield, boosting Turkey’s standing in Libya, Azerbaijan and beyond.
Turkey had been a key figure in the production of American F-35 fighter jets, responsible for hundreds of parts, until it was removed from the programme in 2019 for its purchase of Russian-made missile systems. Last week, a top Turkish defence firm hired a prominent Washington lobbyist to help Turkey get back into the F-35 supply chain – another effort to link Turkey’s tech and industrial development to its international standing.
But space could be a tougher mountain to climb. Opposition politicians have pointed out that the Turkish Space Agency (TUA) has a budget of just $40 million, underscoring Turkey’s lack of experience and investment in space. In response to this charge, a Turkish official has said that TUA will only coordinate the programme while state-run defence contractors do the heavy lifting. He pointed to the little-known Turkish firm, Deltav, which has already produced an advanced rocket engine and is expected to receive some $600m of the space funds.
But Deltav is linked to the Turkish presidency, sparking fears that the space programme could be another way for Mr Erdogan to funnel money to his friends and allies using no-bid contracts, as he has reportedly done for many years in Turkey’s vast construction industry.
Also, the choice of Somalia raises questions. While reasonable from the view of rocket science, Somalia remains one of the more unstable countries in a very unstable region – less than ideal for launching rockets into space. In addition, the expense of shipping all that manpower and material thousands of kilometers away may be feasible for a country like France, which built its launch site in French Guiana, but for Turkey, which is still developing and has been struggling through an extended economic crisis, it may be a bridge too far.
Yet last week, JP Morgan did raise its expectations for Turkey’s 2021 economic growth to 4.6 per cent, adding that the country had out-performed most of its peers during the pandemic. This might give Ankara a bit of budgetary breathing room in the months between now and the next major vote, scheduled for June 2023.
Perhaps the Turkish government will find more worthy tech projects than the one it launched on Friday: a digital lorry that will crisscross the country presenting technological advancements from the 1990s, including a talking hologram, a green screen and a motion-sensitive display. “Turkey's historical, cultural and scientific richness offers the highest possibilities of using digital technology,” Mr Altun said in a tweet kicking off the lorry’s journey. It is telling that the its 52-city tour does not include Turkey’s two biggest and most important population centres, Istanbul and Ankara, where global-minded denizens would likely have had little interest.
Will Turkey’s space programme be more like its advanced drones, or its Digital Truck? Time will tell.
David Lepeska is a Turkish and Eastern Mediterranean affairs columnist for The National
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How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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