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The Turkish European Diplomatic War

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Turkish European War

Turkey is scheduled to vote in a supremely crucial Constitutional Referendum on the 16th of April which will seal the fate of the Republic’s political future and system of governance i.e. either Parliamentary (the current system) or Presidential (the proposed system). Leaders of the 4 major national parties are extensively campaigning not only in Turkey but also European countries with significant Turkish diaspora. Of late we’ve seen tensions flaring between Turkey and Europe. Does this in anyway imply Europe’s unhappiness & disagreement with reference to Turkey’s proposed transition?

Ever since the month of March began, Turkish ministers have been rocked with last minute cancellations of permits and permissions to hold rallies or address a crowd in towns and cities across Germany, The Netherlands and Austria. There are reports of rallies being cancelled in Switzerland too. Germany and the Netherlands are home to millions of Turkish nationals or German/Dutch nationals with origins in Turkey. The logic can translate to literally every home or most of the homes in Turkey having a family member living in either of these two countries. Precisely the reason why Turkish bilateral relations with Germany and the Netherlands are very important.

In an attempt to woo the Turks living in the EU to support their campaign, leaders primarily from the ruling party have been flying to Europe to garner greater votes and gain momentum for their agendas. The number of Turks living in the EU are roughly estimated to be somewhere between 3-4.5 million with 1.5 million living in Germany alone. But things, unfortunately, did not pan out the way in which the leaders thought they would.

March 2nd to March 11th saw Germany cancelling permits for Turkish ministers which included the Justice Minister Bekir Bozdağ, Economy Minister Nihat Zeybekci, Foreign Minister Mevlüt Çavuşoğlu and Minister of Family and Social Policies Fatma Betül Sayan Kaya. Most of the ministers ended up addressing crowds in very informal setups and not in the scheduled location because of restrictions put across by German authorities. March 10th and 11th was when the Netherlands stopped the Minister of Family and Social Policies Fatma Betül Sayan Kaya from not only addressing crowds in two towns but also from entering the Turkish embassy in Rotterdam. Foreign Minister Mevlüt Çavuşoğlu’s flight was not allowed to land in Amsterdam by Dutch authorities who cited security concerns to be the reason.

After this began a brutal war of words between Turkey and the Netherlands in particular where the Turkish President and Foreign Minister called the Dutch as Nazi remnants, Fascists and accused them of Islamophobia. The Germans were accused of the same. The Minister of Family & Social policies additionally accused the Dutch police of being very rude to her despite her being a minister in Turkey. Protests broke out in the Netherlands were Turkish nationals marched in support of their government in Ankara. It is alleged and reports from Turkish media houses state that the Dutch police used a lot of force to curb protests and even let police dogs free because of which a lot of protesters have been bitten by the police dogs. Turkey has asked the Dutch government to formally apologise for their behaviour and also learn international diplomacy from them. Meanwhile, Germany and the Netherlands have lashed back at Turkey for making references to Nazis and drawing associations with them.

Currently, Dutch embassies and consulates in Istanbul and Ankara have been shut. There were reports of the Dutch flag being replaced by the Turkish flag in the Dutch consulate in Istanbul. Turkey has asked the Netherlands’s ambassador to Turkey who is on a holiday right now to stay away for a little longer. The Netherlands has also asked Turkey to offer a formal apology for all the remarks made by the President and the Foreign Minister. But Foreign Minister Mevlüt Çavuşoğlu continues to lash at the Netherlands till now. Germany and Turkey relations have been strained for the longest time after Germany’s move to formally acknowledge Turkey’s role in the Armenian Genocide, the arrest of journalist Deniz Yucel who works for Berlin-based media house DW and particularly after the 15th July military coup where Turkey accuses Germany of not only safeguarding a lot of coup plotters (members or supporters of the Gülen movement and PKK- The Kurdish militant group) but also for being a breeding ground for lot of anti-Turkey sentiments.

While human rights and press freedom have literally gone for a toss in Turkey, there have been questions of whether Europe intends to tame down Erdoğan’s ambition of ruling Turkey with an iron fist and eventually imply greater support to the NO campaign. There have been reports of only the ruling party’s permissions gets revoked by Europe while the opposition continues to enjoy their rights to campaign and address. Though this fact cannot be verified countries across Europe have taken cognizance of the seriousness of this issue. Denmark supports Germany and the Netherlands’ stand in the matter and the Danish Prime Minister called off a meet with the Turkish Prime Minister which was supposed to take place on a date which was yet to be scheduled. France has called for efforts to de-escalate the matter and in fact, foreign minister Çavuşoğlu addressed his last talk in a town on the French-German border. But Conservative French Presidential Candidate François Fillon has accused the French President Francois Hollande of taking a stand, not in tandem with the rest of Europe. With tensions not seeming to potentially rest anytime soon the question that arises is whether Europe is looking at diplomatically and politically isolating Turkey completely?

Motor Mouth. Language Enthusiast. Lover of the Middle East & Turkey. Foreign policy & politics aficionado.

India

Ram Mandir Opening For “Darshan” In 2023

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Ram Mandir Opening 2023 | News Aur Chai

The Ram Mandir in Ayodhya is expected to allow visitors by December 2023, with the completion of construction only in 2025.

Sources in the Shri Ram Janmabhoomi Teerth Kshetra have revealed that the colossal project of building the Ram Mandir in Ayodhya, Uttar Pradesh, will be opening for devotees towards the end of 2023. In contrast, the project’s entire construction completion is expected towards the end of 2025. The sanctum sanctorum (Garbha Griha), along with the mandir’s first floor, will be ready by December 2023. Devotees will be allowed to visit the long-awaited mandir soon after the construction is completed.

An ANI report said, “The grand Ram Mandir being constructed in Ayodhya will be opened for devotees from December 2023. Sources told ANI that Garbhagriha, all five mandaps and the first floor will be ready by December 2023 and the mandir will be opened for devotees”.

The sanctum sanctorum will be as high as 161 feet and built using Rajasthani marble and stones. Engineers and architects are taking all measures to ensure the longevity of this enormous project. The second stage of construction is expected to begin in December this year. Currently, the structure is at a standstill as a result of monsoons. Another reason for the delay is the coronavirus pandemic that depleted the force with which the mandir’s construction was expected to go on.

The announcement of the mandir being opened to visitors in 2023 has brought up questions about the political agenda. It is believed that the Bharatiya Janata Party (BJP) aims to use the mandir to catapult themselves into a position of advantage during the 2024 Lok Sabha elections. Opening the mandir to devotees in December 2023 will give the BJP an easy 6-month gap to the general elections in 2024.

The opening of the long-awaited Ram Mandir in Ayodhya could be the factor that diverts the public, at least the Hindu’s in favour of BJP. Thus, securing them a vote bank based on religious sentiments upheld by the party in their previous tenure as the ruling party.

The Ram Janmabhoomi Mandir will be 360 feet long, 235 feet wide, and 20 feet high mandir will be completely ready by the end of 2025. The project will include amenities and structures like museums, archives, research centre, Sant Niwas, gau and Yagya shala, Etc. The main attraction is the Ram Mandir.

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Business

How SEBI’s New Margin Rule Is Affecting Retail Traders?

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SEBI Margin Rule | News Aur Chai

Securities and Exchange Board of India has introduced new margin rules for traders. Traders and Brokers are not happy with the new regulations because they will have to invest a large amount of cash in fulfilling margin requirements for trade.

SEBI had introduced the new margin rule in the year 2020 for intraday traders. It is being implemented in a phased manner. Traders were supposed to maintain 25 per cent of the peak margin in the first phase; the margin was raised by 50 per cent in the second phase. In the third phase, as per the new margin rule, intraday traders will have to pay a 100 per cent upfront margin. According to new norms, the margin requirements will be calculated four times during every trading session because the money margin must be greater than the need.

As per the new rule, brokers must collect margin from investors for any purchase or sale, and if they fail to do so, they will have to pay the penalty. Thus, brokers will not receive power of attorney. Brokers cannot use power of attorney for pledging anymore.

Those investors who want to make use of margin will have to create margin pledges separately. As per the new rule, investors will have to pay at least a 30 per cent margin upfront to avail a margin loan. Shares brought today cannot be sold tomorrow. Funds from shares sold today cannot be used for new trades on the same day.

The market experts said that there must be proper adjustments for implementing new rules, or it may create chaos, trouble and disturbance to the market participants. The CEO and founder of Zerodha broking firm, Nithin Kamath tweeted that, “the day when the new rules came into effect was the dreaded day for brokers, exchanges, intraday traders”.

Traders Are Not Happy:

Changes in rules have evoked strong reactions from traders because they will have to invest a large amount of cash in fulfilling margin requirements for trades as per new margin rules. Even the trading in futures and options will become more expensive. Traders are disappointed because they will have to pay up more money to bet in stock markets. As per new margin rules, Traders are also liable for the penalty if the rules are not followed during the trading session. If a trader wants to buy Nifty worth Rs 10 lakh, he will have to pay a 20 per cent margin of around 2 lakh. If the margin of the trader does not meet the need, he will be penalized. Traders will have to pay the minimum amount for opening the Multilateral Trading facility account, and they have to maintain a minor balance at all times.

Why Gas SEBI Introduced A New Margin Rule?

SEBI has introduced new rules to protect retail investors from purchasing difficulty. The intended goal of SEBI behind new margin rules is to bring down the difficult market situation and avoid huge fluctuation in stock markets during extreme stress. The new margin rules are likely to bring transparency to the market; it is expected to strengthen the market’s safety.

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World

Escalation Of COVID-19 Cases Across The Globe

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COVID Case Spike 2021 | News Aur Chai

The United States, India, and Brazil have the most confirmed cases, followed by France, Russia, the United Kingdom, and Turkey. There are very few locations that have remained undisturbed.

Since the middle of last year, confirmed cases have been increasing. Although the actual scope of the first outbreaks in 2020 is unknown because testing was not generally available at the time. The 100 million COVID-19 cases were discovered at the end of January, over a year after it was first diagnosed. As of 6:30 p.m. CEST on July 30, 2021, WHO has received reports of 196,553,009 confirmed cases of COVID-19, with 4,200,412 fatalities. A total of 3,839,816,037 vaccination doses has been delivered as of July 28, 2021.

After reaching a record high of over 0.9 million cases on April 28, 2021, new daily instances of the coronavirus continued to decline, reaching a low point on June 21, when over 0.3 million cases were reported. Since then yet, there has been a global increase in cases. On July 15, 0.53 million daily cases were reported, and over three million new cases were reported in the second week of the month. As of July 15, 188.9 million patients have been recorded worldwide. The transmissive Delta form accounting for most infections in 111 countries. Most instances were recorded in Brazil, India, Indonesia, the United Kingdom, and Colombia in the last week. With the steepest increases in Zimbabwe (72%), Indonesia (44%), the United States (38%), Bangladesh (35%), and the United Kingdom (30%). Many Asian nations, including Vietnam, Malaysia, South Korea, and Japan, have reported many daily cases. However, the spread was under control.

The number of new cases in Indonesia has been on the rise, with each day seeing a significant increase over the previous day. Indonesia is now the new Asian epicentre, with 56,757 cases recorded on July 15; India reported 39,000 patients on the same day. COVID-19 fatalities are high, according to WHO. After decreasing for nine weeks, with the highest increases in Africa and Southeast Asia. COVID-19 fatalities worldwide surpassed four million on July 7. The last million deaths occurred in under 90 days, the lowest time interval for every one million deaths ever recorded.

High vaccination coverage has been shown in the United States and much of Europe to lower fatalities and even hospitalizations. For example, United Kingdom rises in incidence. There has been fewer hospitalizations and deaths over 87% of the adult population, as they are vaccinated with one dose and over 67% with two doses. In the United States, the increase in cases is concentrated in states with low vaccination coverage, with unvaccinated people accounting for most deaths. Over 55% of Americans have received one dosage, and 48% are completely immunized. It shifts the focus back to improving vaccination coverage and achieving global vaccine equality to avoid fatalities and the spread of dangerous strains. Some nations debate a booster dosage. Even though many African countries’ healthcare professionals have not been completely vaccinated, booster injections have begun to be given to patients with weakened immune systems in Israel.

In comparison, booster shots have been ruled out in the United States for the time being. With vaccine shortages reported in many Indian states. Even among the vaccinated, rigorous adherence to COVID-appropriate behaviour is the only option to postpone and mitigate the consequences of a third wave.

This spring, India and Latin America have seen a significant drop in new cases in the hardest-hit areas of the world. But the global numbers continue to grow. The Delta variety leads them to well-vaccinated regions such as Western Europe and the United States, low but rising infections. This spring, India and Latin America have seen a significant drop in new cases in the hardest-hit areas of the world. Vaccine doses have been given to over 4 billion individuals globally (52 for every 100 people), yet the discrepancy is striking. More than 80% of the population had at least one shot in some wealthy nations. In contrast, the proportion is as low as 1% in many of the poorest.

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