🇹🇷 Pay 0% tax in Türkiye

In a week when Türkiye enacted a social media ban for kids under 15, and the Balti made a bid for UNESCO recognition (yes, the Birmingham-created curry really does taste that good), Musletter celebrated World Password Day by changing all its logins from ‘1234password’ to the absolutely hacker-proof ‘4321password’. Job done.

Here’s what we have for you in this edition:

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🇹🇷 Türkiye lays out red carpet to foreigners: Foreigners moving to Türkiye will pay zero tax for 20 years. That should make those Dubai relocation consultants sweat a bit. Yes, Türkiye is now making the bid to attract foreign talent and capital away from the GCC. That also means lower business taxes for exporters, almost no tax on transit trade profits, and lower inheritance tax. With so much regional instability, Türkiye views this as a Covid-like moment in which global turmoil can also offer opportunity. And it’s part of a wider strategic shift to position the country as a true hub, rather than a link between east and west.

🇩🇿 Algerian startups do it their way: Algerian startups are eschewing global trends and designing businesses around the specific realities and constraints they face. Which are: a giant country (the largest in Africa), so-so internet connectivity, and difficulty accessing healthcare in rural areas. So out with the ‘it’s like Uber, but for socks!’ and in with solutions like agritech company Qareeb using AI to manage irrigation and crop monitoring in areas with poor internet, or AirCrop’s drones-as-a-service to bring intelligence and insights to farmers who can’t outlay on hardware. Meanwhile, DZDoc connects patients with doctors in underserved regions. Can Algeria reach its stated goal of 20,000 startups by 2027? Don’t bet against it.

🇧🇩 Bangladesh focuses on nuclear energy: Looking to create long-term energy security, Bangladesh has made the country’s largest-ever infrastructure investment with a $12.65 billion nuclear power plant. When operational later this year, the Rooppur plant is expected to produce around 10% of national capacity. The project was constructed in line with post-Fukushima safety standards (more of a must-have than a bragging point, but whatever) and seeks to reduce reliance on imported fossil fuels while also boosting job creation and infrastructure upgrades. The plant will make Bangladesh the third South Asian country to generate nuclear energy after India and Pakistan, and officially the 33rd country in the world to operate nuclear power reactors.

🇾🇪 Yemeni cafés to dethrone Starbucks? Yemeni coffee shops are breaking out. In US cities, there’s a massive 50% increase in Yemeni-owned and run establishments. Sick of the corporatization of cafés, and conscious of boycotting Starbucks, both Muslims and non-Muslims are seeking something authentic: a true coffee culture, and a place to genuinely relax in a cozy, family-friendly environment that’s open late. It’s part of the increasing recognition of where the whole coffee thing began all those years ago. (It wasn’t Seattle.) Get your spicy tea, Qishr, and Harazi coffee in NYC, Austin, Kansas, and everywhere in between. Tomorrow, the rest of the world! Did we mention the coffee is actually 💯🔥?

🇦🇪 UAE is just not that into OPEC: The cartel of oil-producing companies has lost one of its most important members: the UAE. (While the Patrick Mahomes of OPEC is undoubtedly Saudi Arabia, the UAE is at the very least a solid Josh Allen.) Anyway, the UAE’s official ‘it’s not you, it’s me’ line is a change in energy strategy, national interests, independence, etc. But some analysts suggest this is part of a widening split between Saudi Arabia and the UAE. Either way, the UAE is not satisfied with production quotas and seeks greater output flexibility, aiming to expand capacity to 5 million barrels per day by 2027. OPEC will be weakened, but the actual impact won’t be clear until the Strait of Hormuz is fully operational again.

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