The successful launch of Turkey’s first indigenously produced communications satellite earlier this month was undoubtedly an impressive scientific achievement. Fewer than a dozen other states have proven capable of such a technological feat. There are likely to be implications for the domestic economy, and the launch is an important milestone in Turkey’s search for strategic autonomy, with potential downstream effects on the country’s relations with its neighbours.
The July 8 launch of Turksat 6A (T6A) from a launch site in Florida, currently operated under lease by SpaceX, was said by Turkish President Recep Tayyip Erdogan to represent Turkey’s entry into a new phase of satellite production. T6A was launched using a SpaceX Falcon 9 rocket, and Mr Erdogan said his government was “pleased to strengthen our co-operation with Elon Musk and SpaceX in various fields”. Mr Erdogan underlined that Turkey “produced more than 81 per cent of the subsystems, satellite ground stations and software in the 6A project”.
T6A was manufactured by Turkish Aerospace Industries, with financial support from Turkey’s Defence Industry Agency (SSB) and the state-owned company Turksat, which will operate the satellite in its geostationary orbit. T6A has coverage over five billion people in total, reinforcing the five smaller communications satellites Turkey previously launched to deal with the Middle East and Europe, and expanding Turkish coverage to areas like India, Thailand, Malaysia and Indonesia.
The satellite has civil and military capabilities, and over the long term it will enable Turkey to have a wider vision in both spheres. A more concrete impact in the shorter term is to increase the access to reliable communications for the Turkish military in remote and inclement areas, such as the Qandil Mountains in northern Iraq, the headquarters of the Kurdistan Workers’ Party (PKK), which Turkey, the US and several other states consider a terrorist group.
The advances in Turkey’s drone programme have been used to great effect in the past few years to keep the PKK off-balance, straining the ability of the militants to maintain command and control in the various PKK theatres, notably Syria, and eliminating some of the most senior PKK leaders. But cloud cover during spells of bad weather inhibits drones and gives militants chances to escape and transmit orders. The capacities gained with the new satellite could contribute to closing such gaps.
The satellite has civil and military capabilities, and over the long term it will enable Turkey to have a wider vision in both spheres
Beyond logistics and battlefield and tactical intelligence, in the digital age the vast majority of valuable intelligence comes from signals intercepts. Turkey is now much better positioned to play this game and on a grander scale.
Then there is the additional strategic freedom granted to Turkey by having access to the kind of communications capabilities and intelligence streams the T6A provides without any dependence on foreigners, practical or political, something hinted at by Mr Erdogan. For example, the hostile US reaction to the 2019 “Baris Pinari” incursion against the PKK in Syria, and the American posture ever since, has constrained Turkey’s options because Ankara requires US assistance in various ways. As Turkey’s indigenous security capacity increases, these points of reliance – and US leverage – diminish.
Mr Erdogan is also clearly alert to the economic possibilities that flow from this. After the launch, he hailed the development as not only “another source of pride for our … nation” but a matter of “great importance for our country’s future”. That applies both in space and very much closer to home, in terms of the Turkish market share when it comes to the critical technologies related to the production of satellites and their components.
Economic constraints are among the reasons Turkey has pulled back from its more activist regional role in the past half-decade. Many of the issues Turkey was trying to deal with have now been settled one way or the other, and the transformation of the political landscape as Ankara has mended fences with neighbours makes it unlikely that Turkey’s policy will return to quite what it was in the aftermath of the 2011 Arab uprisings. Nonetheless, if demand for satellites and related technologies brings flows of capital and accompanying employment opportunities, it could help stabilise the economy, with knock-on effects that reconsolidate Mr Erdogan’s domestic political position and could support a somewhat more assertive regional role.
The trend of harmony could continue. Saudi Arabia and the UAE, in particular, have been expanding their space sectors. The Gulf states are embarked on technology programmes that have raised strong home-grown companies but also continue to require externally provided technologies. Turkey is well-placed to be that provider. Better economic relations do not always mean better political relations, but much has already been done to improve the situation. If Turkey were eventually able to supply specialist components to the Gulf’s burgeoning technology and aerospace sectors, that could help to entrench a more co-operative dynamic.
In either case, there is little doubt that the T6A launch marks a milestone in Turkey’s capabilities, and gives the country greater power to decide future steps.
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
UAE currency: the story behind the money in your pockets
Teaching in coronavirus times
Third Test
Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel
UAE currency: the story behind the money in your pockets
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Pakistanis%20at%20the%20ILT20%20
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Results:
5pm: Abu Dhabi Fillies Classic (PA) Prestige Dh 110,000 1.400m | Winner: AF Mouthirah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Abu Dhabi Colts Classic (PA) Prestige Dh 110,000 1,400m | Winner: AF Saab, Antonio Fresu, Ernst Oertel
6pm: Maiden (PA) Dh 80,000 1,600m | Winner: Majd Al Gharbia, Saif Al Balushi, Ridha ben Attia
6.30pm: Abu Dhabi Championship (PA) Listed Dh 180,000 1,600m | Winner: RB Money To Burn, Pat Cosgrave, Eric Lemartinel
7pm: Wathba Stallions Cup (PA) Handicap Dh 70,000 2,200m | Winner: AF Kafu, Tadhg O’Shea, Ernst Oertel
7.30pm: Handicap (PA) Dh 100,000 2,400m | Winner: Brass Ring, Fabrice Veron, Ismail Mohammed
Mercedes-AMG GT 63 S E Performance: the specs
Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor
Power: 843hp at N/A rpm
Torque: 1470Nm N/A rpm
Transmission: 9-speed auto
Fuel consumption: 8.6L/100km
On sale: October to December
Price: From Dh875,000 (estimate)
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EPurpl%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EKarl%20Naim%2C%20Wissam%20Ghorra%2C%20Jean-Marie%20Khoueir%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EHub71%20in%20Abu%20Dhabi%20and%20Beirut%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2021%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E12%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%242%20million%26nbsp%3B%3C%2Fp%3E%0A
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
