ISTANBUL // Abdullah Cavus knows exactly what to do when and if he gets the good news.
"If I win, I am going to get up and leave all this straight away," Mr Cavus, a shoeshine man in Turkey's metropolis, Istanbul, said yesterday as he pointed to the portable shoeshine stand in front of him. "I will buy a house and give the rest of the money to the poor."
Mr Cavus's stand in front of the historic New Mosque in Istanbul's old town is only steps away from Nimet Abla's shop, the city's most famous place to buy lottery tickets. Nimet Abla, or Sister Nimet, is where Mr Cavus bought the lottery ticket he hopes will make him rich.
With a record jackpot of an estimated 55 million lira (Dh113m), today's draw of Turkey's state lottery, "Super Loto", has attracted crowds of customers at Nimet Abla and lottery shops around the country. As the effects of the global economic crisis start to bite and unemployment shoots up, Turks from all walks of life regard a lottery coupon for six lira as their ticket to happiness.
The state lottery is one of the few legal ways to gamble in Turkey, where casinos have been banned since the 1990s. According to the latest available figures, Turks spent about six billion lira on lottery tickets between 2002 and 2007. Of that sum, 2.6bn lira were returned as winnings.
While many people bet on horse races and on football matches on a regular basis, nothing compares to the craze the weekly drawing of the Super Loto has triggered.
"About 6,000 people come here every day," said Hasan Egri, a clerk working at Nimet Abla since 1994. "I have never seen busier times." As he spoke, two policemen stopped their patrol car in front of Nimet Abla and got out to buy their coupons.
Customers can either fill in their ticket on their own, choosing six numbers in a field of 54, or have a computer generate a combination for them. Most prefer the latter, because they hope Sister Nimet will bring them luck.
The shop, a small building with a window front that customers walk up to to buy their tickets, bears the name of Melek Nimet Ozden, who founded it with her husband in 1928 and who quickly acquired a reputation of bringing luck to people who bought their lottery there. She died in 1978, but her fame lives on. As customers lined up in front of the small shop yesterday, pictures in the shop showed Nimet Ozden surrounded by bills of cash, handing out money.
"I have been playing every now and then, whenever the jackpot was high," said Hulya Hamsioglu, 52, who bought a ticket at Nimet Abla. If she wins the big prize, she wants to buy a house, see the world and support her relatives, plans that reflected the dreams of many who were waiting in front of the shop. "I also want to build a school and give grants to students," Mr Hamsioglu said.
Not everyone has decided what to do with their hoped-for millions. "I will think about it when I have the money," said Ramazan Yurtsever, 40, a crane operator. Several said they played for the first time this week.
The 55m lira in the jackpot has been piling up because no one has had the six lucky numbers for 12 weeks now. The Hurriyet daily yesterday quoted an unnamed official of the state lottery as saying that the jackpot could be even higher next week if no one succeeds in today's drawing.
Some experts have warned the potential winner of dangers that come with a stash of money that is so big that "even the interest will make you rich", as one newspaper put it.
"This amount [of money] destroys a person whose moral values are not well grounded," the daily newspaper Milliyet quoted the psychologist Yalcin Kirecci as saying.
Another expert, Arif Verimli of Istanbul's Yeditepe University, advised the winner should not make a decision about what to do with the money for the first 40 to 60 days after winning.
While the hopeful formed queues in front of Nimet Abla, some Turks said they did not feel the temptation of becoming rich overnight. "I am not playing because the chances of winning are low. It is like throwing your money away," said a lawyer, Eyup Yasar Gumus, at a table outside a cafe near Nimet Abla's shop. He said the crowds outside places like Nimet Abla were not only gathering because of the big jackpot, but also because of the bleak economic situation and growing unemployment. "The crisis has been having an effect; unemployment is rising, so people see the lottery as a door of hope," he said.
That is certainly true for Mr Cavus, the shoeshine man who has to put three children through school with his meagre income. "Everybody is gambling; everyone wants to have the money," he said.
tseibert@thenational.ae
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The specs: 2018 Peugeot 5008
Price, base / as tested: Dh99,900 / Dh134,900
Engine: 1.6-litre turbocharged four-cylinder
Transmission: Six-speed automatic
Power: 165hp @ 6,000rpm
Torque: 240Nm @ 1,400rpm
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Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
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RESULTS
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
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Price: From Dh139,000
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Started: December 2011
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Based: Beirut and Dubai
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Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
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Name: Kumulus Water
Started: 2021
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Super Saturday race card
4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
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MATCH INFO
Who: UAE v USA
What: first T20 international
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Where: ICC Academy in Dubai
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AUSTRALIA SQUAD
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Company profile
Name: The Concept
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THE 12 BREAKAWAY CLUBS
England
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Italy
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Spain
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Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
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League Cup, last 16
Manchester City v Southampton, Tuesday, 11.45pm (UAE)
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One-off Test v Afghanistan:
Nov 27-Dec 1: Blundstone Arena, Hobart
The Ashes v England:
Dec 8-12: 1st Test, Gabba, Brisbane
Dec 16-20: 2nd Test, Adelaide Oval, Adelaide (day/night)
Dec 26-30: 3rd Test, Melbourne Cricket Ground, Melbourne
Jan 5-9, 2022: 4th Test, Sydney Cricket Ground, Sydney
Jan 14-18: 5th Test, Optus Stadium, Perth
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
6.30pm: Al Maktoum Challenge Round-3 Group 1 (PA) | US$95,000 | (Dirt) 2,000m
7.05pm: Meydan Classic Listed (TB) ) | $175,000) | (Turf) 1,600m
7.40pm: Handicap (TB) ) | $135,000 ) | (D) 1,600m
8.15pm: Nad Al Sheba Trophy Group 3 (TB) ) | $300,000) | (T) 2,810m
8.50pm: Curlin Handicap Listed (TB)) | $160,000) | (D) 2,000m
9.25pm: Handicap (TB)) | $175,000) | (T) 1,400m
10pm: Handicap (TB) ) | $135,000 ) | (T) 2,000m
MATCH INFO
First Test at Barbados
West Indies won by 381 runs
Second Test at Antigua
West Indies won by 10 wickets
Third Test at St Lucia
February 9-13
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions