Last month Turkey rounded off the biggest constitutional overhaul since the foundation of Ataturk’s modern republic. At its summit sits Recep Tayyip Erdogan, its virtually omnipotent president, holding the country in his vice-like grip.
Yesterday marked the two-year anniversary of an attempted coup that plunged Turkey into chaos, triggering a state of emergency under which thousands were jailed – and many more lost their livelihoods. And thanks to a narrow referendum last year and fresh elections last month the autocrat now has total power in a presidential system.
Accusations that Mr Erdogan has used his office to muzzle his opponents are increasingly hard to refute, while he has used a narrative of “Turkey under siege” to build support across the country. Two years on from the coup, Turkey is almost unrecognisable.
And with each new presidential decree, the country takes a new stride away from the European democracies on which it once sought to model itself.
Yet there remains one bastion of dissent over which Mr Erdogan has little authority: international markets. Last week, the Turkish lira plunged to a record low against the US dollar, capping its biggest weekly slump since 2008. Its unenviable position as the globe's worst-performing currency has raised fears of an all-out currency crisis.
High inflation and unemployment alongside a deteriorating current account deficit are equally troubling. By some estimates, Turkey needs to lure $200 billion a year in foreign financing to stay afloat.
Worse still, much of Turkey’s economic malaise is self-inflicted. As he has amassed greater and greater powers, Mr Erdogan has disregarded calls for the important structural reforms that would soothe investor confidence.
Instead, the president has pursued a head-scratching monetary policy – founded on his unique belief that high interest rates encourage inflation. While analysts are united in calling for a period of calm, most expect Mr Erdogan to push for lower interest rates in search of rapid growth. His strategy of presenting economic decline as conspiracy by the West to smother Turkey’s progress will insulate him. But long term decay could well expose chinks in his armour.
And a fresh crisis hit markets last week, when Mr Erdogan appointed his son-in-law, Berat Albayrak, as Turkey’s finance minister, demoting nimbler economic minds.
He also passed a decree allowing him to directly appoint the governor of Turkey’s central bank, an institution that looks less autonomous by the day.
Such cronyism isn't out of character, but while his power is almost limitless within Turkey, Mr Erdogan's arm does not extend to international markets. And for now at least, exactly two years after the coup that cemented his dominance, the country's economic credibility lies in tatters.
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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Barbie
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Company profile
Name: Tharb
Started: December 2016
Founder: Eisa Alsubousi
Based: Abu Dhabi
Sector: Luxury leather goods
Initial investment: Dh150,000 from personal savings
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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
RESULTS
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
