Tag Archives: tayyip erdogan

USD/TRY targets 15.00 ahead of Russian-Ukrainian peace talks

USD/TRY resumes offers to reverse Friday’s pullback from the 3-month high. Russia and Ukraine ready for further talks after citing progress, Moscow attack slammed. US Treasury yields propel the DXY amid rising hopes of a 0.50% Fed rate hike on Wednesday. China’s covid cases bolster safe-haven demand for the US …

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Turkish lira rebounds after Putin signals progress in talks

The conflict in Ukraine fuels inflation and current accounts worry Currency 10% weaker in 2022, halving in one year Forecasts on growth, inflation, the lira are deteriorating ISTANBUL, March 11 (Reuters) – The lira rebounded from an earlier tumble to rebound 1.5% on Friday, benefiting along with other emerging market …

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USD/TRY prints 7-day uptrend around 14.50 on Turkey growth fears

USD/TRY remains firmer around a 3-month high, paring intraday gains lately. Turkey and Israel are attempting diplomatic peace for the first time in more than a decade. The World Bank has raised concerns about the growth of major oil importers, including Turkey. Ukraine and Russia will meet in Ankara on …

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Ukraine invasion leaves Greece with grave fears on two fronts

Russia’s invasion of Ukraine has had serious repercussions in two areas of Greece’s economy and political status that seem unrelated but are in fact equally worrying when it comes to long-term political relations. term. Greece’s support for EU sanctions against Russia has resulted in the cancellation of Russian tourism to …

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Turkey and the United States will coordinate their response to the war in Ukraine, says Ankara

The flags of Turkey and the United States are seen in this illustration taken August 25, 2018. Picture taken August 25, 2018. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register ANKARA, March 5 (Reuters) – Turkey and the United States will remain in “close coordination” in their …

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Inflation in Turkey climbs to 54%

ANKARA – Turkey’s annual inflation rate accelerated further in February, official data showed on Thursday, marking the biggest jump since 2002 and adding pressure on households already struggling to buy household goods. based. The Turkish Statistical Institute said consumer prices rose 54.44% in February from a year ago. That’s up …

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Turkey’s inflation woes pit tenants against landlords

Istanbul (AFP) – Evicted in the middle of a harsh Turkish winter, Erdem Yilmaz, 30, calculated that he had spent two and a half months’ salary to urgently move to a new house in Istanbul. The father of a two-year-old is not the only Turk in this situation after last …

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Israel says Turkey’s outreach will not come at the expense of Cyprus | News

NICOSIA, Cyprus (AP) — Any attempt by Israel to improve strained relations with Turkey will not come at the expense of its “strategic relationship” with its Cypriot neighbor, Israel’s president said Wednesday. Israeli President Isaac Herzog, speaking after talks with his Cypriot counterpart, said he was aware next week’s visit …

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Jamal Khashoggi’s fiancée urges Turkey to ‘insist’ on justice despite Saudi thaw

Hatice Cengiz was waiting for Khashoggi outside the consulate at the time of the murder (File) Turkey must continue to insist on justice for Riyadh critic Jamal Khashoggi even as relations with Saudi Arabia improve, his Turkish fiancee told AFP in an interview. The gruesome 2018 murder of Khashoggi inside …

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Istanbul skyline: rickety wooden scaffolding destroying iconic mosque sparks fury on social media, World News

Turkish conglomerates are racing to add high-end apartment buildings and office towers to Istanbul’s fast-changing skyline, eyeing one of the world’s most profitable real estate markets for quick returns as that other parts of the economy suffer. But now a rickety wooden scaffolding is destroying the iconic Suleymaniye Mosque. This …

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The Sunday profile | Ilker Ayci: Waiting to take off

ON JULY 15, 2016, a faction of the Turkish military attempted to overthrow President Recep Tayyip Erdogan. By dawn on July 16, it was clear that the coup, one of the bloodiest in Turkish political history, had been repelled. But it has caused considerable collateral damage, in particular to the …

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Turkey could become the next narco-state in the Middle East

The assassination of Turkish Cypriot casino magnate Halil Falyali last week was the latest installment in Turkey’s underground wars against drug trafficking and illicit finance. Turkish mobster turned whistleblower Sedat Peker accused Falyali last year of being a key player in cocaine trafficking and colluding with Erkan Yildirim, the son …

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Turkey’s central bank keeps rate at 14% despite rising inflation

A logo of the Central Bank of Turkey is pictured at the entrance to its headquarters in Ankara, Turkey, October 15, 2021. REUTERS/Cagla Gurdogan Join now for FREE unlimited access to Reuters.com Register ISTANBUL, Feb 17 (Reuters) – Turkey’s central bank kept its key rate at 14% for the second …

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Turkey lowers taxes on staple foods to tackle high inflation

Turkey’s president has announced a significant cut in taxes on basic food supplies as the country faces soaring inflation and widespread protests over eroding living standards Through Associated press ZEYNEP BILGINSOY February 12, 2022, 3:40 p.m. • 3 minute read Share on FacebookShare on TwitterEmail this article ISTANBUL — Turkey’s …

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Fitch downgrades Turkey’s debt amid soaring inflation

Fitch downgraded Turkey’s sovereign debt and delivered a scathing verdict on President Recep Tayyip Erdogan’s plan to tackle soaring inflation. The international rating agency pushed the long-term debt rating deeper into undesirable territory, lowering it from BB- to B+, putting the G20 country on a par with Benin, Egypt, Turkmenistan, …

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Turkish tax takes the spirit out of the bar scene

Istanbul (AFP) – In a waterfront area of ​​Istanbul that once buzzed with life of cafes and pubs, there are now only empty tables after a nearly 50% hike in alcohol taxes. The tax is one of the biggest blows to alcohol consumption from a government often accused by its …

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bne IntelliNews – Turkey’s Minimum Wage Gap to Hunger Line ‘Almost Completely Disappeared’

The gap between Turkey’s minimum wage and the famine threshold has almost entirely disappeared amid the collapse of the Turkish lira and soaring inflation, according to a report compiled by the Confederation of Turkish Trade Unions (Turk- Is). The January Turk-Is Hunger and Poverty Line survey, originally reported by bianet, …

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ASIA/TURKEY – Erdogan confirms: new regulations and new elections for the Foundations of non-Muslim communities

ASIA/TURKEY – Erdogan confirms: new regulations and new elections for the Foundations of non-Muslim communities agos.com Ankara (Agenzia Fides) – The process of publishing new operating rules for Turkish foundations linked to non-Muslim communities is almost complete, which will soon allow these organizations to renew their governing bodies after eight …

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Everything you need to know before trading Tadawul today

ANKARA: Following Iran’s decision to cut off gas flows to Turkey last week, Ankara began ordering gas-fired power plants to cut their gas consumption by 40% from Monday. This sudden decision highlighted the need to diversify energy suppliers for the country. Households, schools and hospitals are, for the time being, …

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Turkey will see inflation rate peak at around 40% in 2022, says finance minister

Ankara: Turkish Finance Minister Nureddin Nebati has told economists that he expects the inflation rate to peak at around 40% in the coming months and not exceed 50% this year, according to attendees. Nebati provided his most detailed outlook yet on consumer prices in 2022 at a meeting with 60 …

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Turkey rescues over 70 migrants in the Aegean Sea – General News

(ANSAmed) – ISTANBUL, JANUARY 18 – The Turkish Coast Guard rescued 73 migrants overnight from Monday to Tuesday who were trying to reach the Greek islands from the Turkish coast on the Aegean Sea. Anadolu news agency reported that in response to sightings of boats full of migrants having difficulty …

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Turkey defies European deadline to release Osman Kavala from prison | Human Rights News

The Council of Europe has reportedly called for the jailed businessman and philanthropist to be released by February 2. A Turkish court has extended the detention of civil society leader Osman Kavala, ignoring a deadline set by Europe’s top human rights body to release him, in a case that has …

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Erdogan vows to bring Turkish inflation under control as skepticism grows

Turkish Lira banknotes are pictured at an exchange office in Istanbul, Turkey on August 13, 2018. REUTERS / Murad Sezer Register now for FREE and unlimited access to Reuters.com Register After falling 44% last year, the pound is stable last week World Bank predicts 2% GDP growth in 2022.3% next …

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Turkey’s economic woes hurt Erdogan – Polls | World news

ISTANBUL (Reuters) – More and more Turks now believe an opposition alliance is better suited than President Tayyip Erdogan and his ruling AKP party (AKP) to end the economic turmoil that has engulfed their country, according to a series of opinion polls released this month. Under pressure from Erdogan and …

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Pound weakens 1%, minister says, Turkey is forging its own path

Udate the price of the reading, adds the comments of the Minister of Finance ISTANBUL, January 5 (Reuters) – The Turkish lira weakened 1% on Wednesday, extending losses a day earlier as investors assessed the impact of a surge in inflation to a 19-year high after the currency’s fall in …

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Turkish Erdogan announces he will visit Saudi Arabia in February | Politics News

The visit is said to be the Turkish president’s first since the 2018 murder of Jamal Khashoggi by a team of Saudi agents in Istanbul. Turkish President Recep Tayyip Erdogan has announced that he will visit Saudi Arabia next month, the Turkish leader’s first visit since the 2018 murder of …

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Turkish lira slips 5%, eyes on surging inflation

A US dollar banknote is seen next to Turkish lira banknotes in this illustration taken in Istanbul, Turkey on November 23, 2021. REUTERS / Murad Sezer Register now for FREE and unlimited access to Reuters.com Register now ISTANBUL, Jan. 3 (Reuters) – The Turkish lira fell 5% on Monday after …

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Turkish lira posts worst year in 2 decades under Erdogan

ANKARA, Turkey – The Turkish lira has recorded its worst year since President Tayyip Erdogan came to power nearly two decades ago, despite his call on Friday, December 31, for Turks to trust his unorthodox policies of cutting back taxes. interest rates in the face of soaring inflation. The lira …

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Turkish finance minister says US Federal Reserve is owned by five families – Middle East Monitor

Turkey’s Treasury and Finance Minister claimed that the United States Federal Reserve was not owned by the American public but rather belonged to five wealthy families, drawing criticism from economists. In a television interview with CNN Turk news channel yesterday, Nureddin Nebati – appointed by President Recep Tayyip Erdogan in …

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Lira hits bridge as Turkey braces for crypto showdown

A year of economic turmoil has sent the Turkish lira plunging to new lows, and retail investors across Turkey (now Turkiye) are racing into cryptocurrencies in a desperate race to protect their economies from drastic devaluations. President Tayyip Erdogan revealed that a cryptocurrency bill is prepared and ready to be …

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Turkish crisis turns books into a dying luxury

Country’s economic turmoil puts publishing industry at risk as paper prices skyrocket Turkish doctoral student Gulfer Ulas saw the first edition of her favorite Thomas Mann collection published for 33 lire (around US $ 3 at the latest exchange rate). She found the second copy of the same two-volume set …

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Turkish lira drops nearly 8% after surge triggered by intervention – business

The pound fell nearly 8% against the dollar on Monday amid continued investor concern over Turkey’s monetary policy, having jumped more than 50% last week after billions of dollars in interventions on the state-supported market. The pound was also supported last week by a government move to cover exchange losses …

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Saudi real estate market falls 9.1% in 4Q 2021, reports Al-Eqtisadiah

RIYAD: Global economic output is expected to exceed $ 100,000 billion next year, according to a report by UK consulting firm Cebr. The report also says it will take longer than expected for China to overtake the United States as the world’s largest economy. He predicted that China will occupy …

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Press review: the United States will sting China in Tibet and can the Turkish lira crash impact Russia – Press review

Izvestia: Russia sees increased military activity along its borders as a serious threat Deploying US and NATO missile systems near Russia’s borders is a very serious challenge for the country which simply has nowhere to retreat, said Russian President Vladimir Putin at an enlarged meeting of the Ministry of Defense. …

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Exclusive: US Worried Over Turkey’s Drone Sales to Conflict-Affected Ethiopia | News

By Jonathan Spicer, Giulia Paravicini and Orhan Coskun ISTANBUL / ADDIS-ABEBA (Reuters) – US officials have challenged Turkey over its sales of armed drones to Ethiopia, where two sources familiar with the matter said there was growing evidence the government had used these weapons against rebel fighters. Washington has “deep …

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Turkish lira dips from historic low after Erdogan bailout announcement

A bureau de change holds Turkish lira and US dollar banknotes at a bureau de change in Ankara, Turkey on December 16, 2021. Cagla Gurdogan | Reuters The Turkish Lira has retreated at breakneck speed from record lows, experiencing wild swings after President Recep Tayyip Erdogan revealed a plan to …

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Foreign drones tip the scales in Ethiopia’s civil war

NAIROBI, Kenya – After the Prime Minister of Ethiopia scored an astonishing military victory earlier this month, overthrowing a rebel march on the capital that threatened to topple him, he credited his troops for their bravery. “Ethiopia is proud of your incredible heroism,” jubilant leader Abiy Ahmed told his troops …

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Takeaways from President Buhari’s epic visit to Turkey, by Garba Shehu

The President’s visit to Turkey from December 16 to 19 was aimed at participating in the 3rd Turkey-Africa Partnership Summit, with an attractive theme: “Strengthened Partnership for Common Development and Prosperity”. Our national strategy was laid out before we left, based on a strong optimism that the summit will work …

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The Turkish lira with another record decline – Novinite.com

national of Turkey currency hits a new all-time low, depreciating against the US dollar to 17.04 TO TRY through we unity. The data from the online exchange shows this. At the same time, the Turks currency has depreciated twice since the start of the year, which is one of the …

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Turkish Finance Minister briefs banking sector on new business model

ISTANBUL, December 18 (Reuters) – Turkish Finance Minister Nureddin Nebati briefed the country’s banking association, banking watchdog BDDK and directors of state banks about the government’s new low-rate business model , the association announced on Saturday, after the pound fell to record low. The lira fell above 17 per US …

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Turkish lira, stocks collapse amid inflation concerns

Istanbul’s stock market was twice forced to halt trading and the Turkish lira continued to decline on Friday as concerns grew that recent interest rate cuts could spur an inflationary spiral. . Turkey’s benchmark Borsa Istanbul 100 fell 8.5% on Friday on its worst day since March, tripping two circuit …

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Foreigners buy Turkish homes at record pace as pound slips

Foreign tourists take a break in Sultanahmet Square as they visit the old city of Istanbul, Turkey on July 8, 2021. Photo taken on July 8, 2021. REUTERS / Dilara Senkaya / File Photo Register now for FREE and unlimited access to reuters.com Register Nearly 50% drop in the pound …

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As Turkey’s currency crumbles, Erdogan’s support crumbles even in his hometown

RIZE, Turkey — Here in President Recep Tayyip Erdogan’s hometown on Turkey’s Black Sea coast, locals are questioning the leadership of their city’s favorite son amid an economic crisis that is driving up the cost of food, gasoline and medicine. Turkey’s currency has lost up to 45% of its value …

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Apple briefly stopped selling its products in Turkey, but why ?, World News

Apple products, especially iPhones, are known for their popularity around the world. People wait in winding queues for long hours just to get their hands on the new gadgets no matter how expensive they are. Prices for Apple electronic devices, including iPhones, vary around the world. Import duties, among other …

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Turkey and Arab world prefer cooperation over conflict

A changing geopolitical landscape has seen Ankara and its former Gulf rivals rethink their policies towards each other. Relations between Turkey and the Arab world are experiencing a major thaw after years of strained relations – a rapid rapprochement that has occurred in the space of a year. Following attempts …

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Massive brawl breaks out in Turkish parliament

What was supposed to be an orderly diplomatic scene quickly turned into a fight club today, as officials in costume threw hay at their opponents. What was supposed to be an orderly diplomatic scene quickly turned into a fight club as officials now squabble over Turkey’s faltering economy. The country …

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Turkish opposition leader kicked out of data center as data mistrust rises

Growing mistrust of official Turkish inflation data fueled political tensions last week as the main opposition leader was barred from entering the Turkish Institute building. statistics (TUIK), the government agency responsible for compiling and sharing various data. Shortly after TUIK released the latest inflation figures on December 3, Republican People’s …

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Turkish opposition leader helps form unlikely alliance to challenge Erdogan

For years, Turkish opposition leader Kemal Kilicdaroglu has been ridiculed for his gentle demeanor and inability to make inroads election after election. Lately, however, the leader of the Republican People’s Party (CHP) has discovered a taste for daring. On Friday, he showed up uninvited to the country’s statistical agency and …

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Pound Crash Hits Turkey’s Factories, Farmers and Retailers | Business and Economy News

Istanbul, Turkey – The Turkish Lira crisis threatens to bankrupt 86-year-old Mehmet Sapci’s pharmaceutical company. With the onset of the coronavirus pandemic, his company – Merkez Ilac – was able to leverage its production lines to pump disinfectants that have been shown to be essential in stopping the spread of …

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Turkish Finance Minister Lutfi Elvan resigns amid monetary crisis

Turkish Finance and Treasury Minister Lutfi Elvan has resigned amid a sharp drop in the Turkish lira, according to a presidential decree published in the Turkish Official Gazette on Thursday. Elvan has asked to be relieved of his duties, the official newspaper said. Turkish President Recep Tayyip Erdogan has appointed …

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Turkey – Factors to watch out for on December 1

ANKARA, December 1 (Reuters) – Here are news, reports and events that could affect Turkish financial markets on Wednesday. The lira was at 13.6185 against the US dollar at 04:41 GMT, lower than a close of 13.415 on Tuesday. It hit a record low of 14 Tuesday night. The main …

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“Our money has no value”: frustration increases in Turkey during the pound crisis

ISTANBUL – Lines in front of bread shops and gas stations; farmers in default of payment; impromptu street demonstrations. Signs of economic distress in Turkey are all too clear as the pound continues on a steep slide. Sporadic protests have erupted around Turkey and opposition parties have called for a …

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Turkish Erdogan announces he will visit UAE in February

ANKARA, Turkey (AP) – Turkish President Recep Tayyip Erdogan has said he plans to visit the United Arab Emirates in February as the two countries prepare to put years of strained relations behind them. The powerful crown prince of Abu Dhabi visited Ankara last week, making his first official trip …

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President Alvi calls for measures to integrate ECO region – Journal

• Sees an imperative for peace in Afghanistan for the TAPI gas pipeline, the CASA-1000 power grid and the trans-Afghan railway projects• Bilateral talks with the presidents of Uzbekistan, Turkey, Iran, Azerbaijan and Tajikistan ISLAMABAD: President Dr Arif Alvi said that the member states of the Organization for Economic Cooperation …

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Turkish lira crisis hits Idlib in Syria | Business and Economy News

Jamil Barakat says making a living in the town of Idlib in northwestern Syria has never been easy. But the next Turkish lira crisis and skyrocketing inflation made his small business a nightmare. “Product prices change every day and customers are incredulous,” Barakat told Al Jazeera. “And of course you …

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Turkey – Factors to watch for November 26

ANKARA, November 26 (Reuters) – Here are news, reports and events that could affect Turkish financial markets on Friday. The lira stood at 12.1580 against the US dollar at 04:35 GMT, weakening from a close of 12:07 on Thursday, after hitting a series of all-time lows this week. The main …

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Turkish Lira holds firm after volatile sell-off of the week

The Turkish lira was stable on Thursday after a historic drop to record lows this week that was sparked by President Tayyip Erdogan’s defense of interest rate cuts, despite widespread criticism of his political stance. Central bankers, regulators and lenders were due to meet later today to discuss the market …

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Stocks pull back as traders see higher rates; Turkish lira plunges

Wall Street, European stock indices down Dollar retreats from 16-month high Turkish lira drops 15% to record low WASHINGTON / LONDON, Nov. 23 (Reuters) – Wall Street shares fell and the dollar fell from a 16-month high on Tuesday as investors positioned for interest rate hikes in 2022 after the …

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Turkish lira pulls back after record lows at start of trade

A bureau de change counts Turkish lira banknotes at a bureau de change in Ankara, Turkey on November 11, 2021. REUTERS / Cagla Gurdogan ISTANBUL, Nov.22 (Reuters) – The Turkish lira strengthened to less than 11.2 per dollar on Monday, after hitting a record high late last week after the …

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Few people dare to follow as Spanish bank BBVA raises bet on Turkey

While Carlos Torres Vila, director of BBVA, explained why the Spanish lender was planning to take full ownership of Turkish bank Garanti, it didn’t always sound like the sales pitch typically deployed for corporate transactions. But then the 55-year-old BBVA chairman could hardly ignore the backdrop of the deal – …

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Turkish opposition calls for snap elections amid pound collapse

ANKARA, Nov. 18 (Reuters) – Turkish opposition leaders called for an immediate snap election on Thursday after the pound plunged 6% to a new low following the central bank’s decision to cut rates on interest under pressure from President Tayyip Erdogan. The pound has seen its worst day since a …

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Emerging market stocks drop for second day

Emerging market equities were under pressure for the second consecutive session, as fears of high global inflation added to fears of a Chinese slowdown and tighter financing conditions in the United States. The emerging FTSE index, a broad barometer of developing country stocks, fell about 1% on Thursday in US …

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bne IntelliNews – Worries that Turkey could face another currency crisis “escalate”, says Capital Economics

Fears that Turkey could face another currency crisis continue to intensify, Capital Economics said on November 16, with the sharp depreciation of the Turkish lira in recent weeks showing little sign of slowing down. “The currency broke through the psychologically important level of 10 / $ at the end of …

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In Turkey, foreigners face a new reality

What does it tell us about a country when foreign ambassadors advising their host state on a legal matter and refugees playfully teasing their host citizens on social media receive the same response from the government? That Turkey is in the mood for a little “time for me”. About a …

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Will US GDP data confirm a pickup in activity?

Will US GDP data confirm a pickup in activity? U.S. economic growth has slowed sharply as the Delta variant of the coronavirus slashed consumer spending and supply chain bottlenecks hit businesses, but activity is already showing signs of recovery. Economists predict on Thursday that US Department of Commerce data will …

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Global finance watchdog adds Turkey to gray list

The global financial watchdog known as the Financial Action Task Force, or FATF, today announced that Turkey has been added to its “gray list” of countries under increased terrorist financing watch, money laundering and institutional corruption. The move will further damage Turkey’s uneven image and likely further weaken the pound, …

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A new 15 billion dollar canal for Istanbul

THERE NO like a poor view of the Bosphorus, the waterway that separates Istanbul between Europe and Asia. But that of the bridge Cobia gas, a 180-meter tanker, on its way from the Sea of ​​Marmara to the Black Sea, is hard to beat. Ottoman palaces parade. Hagia Sophia enjoys …

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Turkey sees prices rise amid inflation of nearly 20%

Ankara, October 5 (IANS): The economic fallout from the Covid-19 pandemic in Turkey has caused painful increases in the prices of consumer goods for most people amid embarrassing inflation that authorities are struggling to contain. Annual inflation rose to 19.58% in September from 19.25% in August, according to official data …

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Students sleep in parks to protest against rising rents in Turkey | Europe | News and events from across the continent | DW

For 18 months, face-to-face classes were suspended in Turkey due to the pandemic. When universities reopened, many students had a nasty surprise: rents became almost unaffordable. This is partly explained by inflation and the corresponding price fluctuations, which also affected the housing market. In addition, the Turkish government has failed …

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Erdogan’s false claim that Turkey is “incomparably free”

On September 26, Turkish President Recep Tayyip Erdogan gave an interview to CBS’s “Face the Nation” show. Among other things, Erdogan discussed his relationship with the administration of US President Joe Biden, Turkey’s influence in the Middle East, and the state of freedoms in his country. Interviewer Margaret Brennan asked …

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Putin and Erdogan: situational enemies

Russian President Vladimir Putin (right) eliminates Turkish President Recep Tayyip Erdogan after their meeting at the Russian Presidency’s official residence in Sochi, Russia, September 29, 2021. / Getty Russian President Vladimir Putin (right) eliminates Turkish President Recep Tayyip Erdogan after their meeting at the Russian Presidency’s official residence in Sochi, …

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Turkey creates a new Ottoman Empire

UNITED NATIONS (PA) – The foreign minister of the divided island of Cyprus accuses the Turkish president of trying to promote a new Ottoman empire in the Eastern Mediterranean and the Middle East – and says that such an approach to the geopolitics could have a negative impact on regional …

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Here are the best foreign stories at 1700 hours

Outlook September 26, 2021 5:09 PM IST Here are the best foreign stories at 1700 hours perspectivesinde.com 1970-01-01T05: 30: 00 + 0530 TOP FOREIGN STORIES AT 1700 HOURS FGN 10 CHINA-INDIA-SENT-BORDER Don’t change the goals, don’t confuse border management with solving the border issue, Indian envoy to China Beijing: India …

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World Business Quick Take – Taipei Times

COINS Turkish lira at historic low The Turkish lira fell to near an all-time high yesterday, a day after a surprise rate cut by the Turkish central bank, as broader emerging market currencies headed for their third consecutive weekly loss amid fears the group Chinese Evergrande (恆大 集團) is not …

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Fitch maintains pessimistic outlook for Turkish inflation

Fitch Ratings has revised upward Turkey’s economic growth forecast for 2021 to 9.2%, according to the rating agency’s Global Economic Outlook for September, released on September 16. The new figure is a massive upward revision from the agency’s previous update on August 13, when it revised Turkey’s growth forecast upward …

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Central Bank of Turkey to test digital pound on new platform

The Monetary Authority will work with technology players to establish the “Digital Turkish Lira Collaboration Platform” to facilitate the research and development of a CBDC. Turkey’s central bank has set up a new platform to expand research on the potential benefits of introducing a digital version of the Turkish lira. …

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Turkish lira tumbles over central banker’s remarks

Published on: 09.08.2021 – 13:22Amended: 09.08.2021 – 13:20 Ankara (AFP) The Turkish lira suffered one of its biggest drops of the year on Wednesday due to speculation the central bank was on the verge of cutting rates in the face of soaring inflation. Turkey’s annual inflation rate accelerated to 19.25% …

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Senator berates Turkish leaders

ATHENS, Greece – U.S. Senate Foreign Relations Committee Chairman Bob Menendez criticized Turkey on Friday during a visit to Athens, saying its current leaders are not committed to the principles of democracy and Right wing state. Menendez, the Democratic senator from New Jersey, is in Greece to attend events celebrating …

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In photos: fires ravage southern Europe

ATHENS – Shells of houses and cars ravaged by flames. Stretches of forest reduced to ashes. Tourists evacuated by boat from once idyllic beaches where the sky is covered in smoke. As southern Europe grapples with one of its worst heat waves in decades, deadly wildfires have engulfed swathes of …

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Greece, Turkey tackle massive forest fires

A firefighting helicopter shoots down as a forest fire burns in the village of Ippokratios Politia, north of Athens, Greece on August 6, 2021. Costas Baltas, Reuters Hundreds of firefighters battled a blaze on the outskirts of Athens on Friday as dozens of fires raged in Greece in what the …

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Rich Turks Boost Consumption Amid Soaring Inflation

Home and car sales have increased and shopping malls and entertainment venues appear to be quite buzzing in Turkey, even as steadfast inflation and widespread unemployment continue to haunt the country’s struggling economy. What about this seemingly contradictory trend? Are Turks throwing barbecues on the flames of inflation? Soaring prices …

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Turkey criticizes European court ruling on headscarf ban

ISTANBUL (AP) – Turkish President Recep Tayyip Erdogan’s spokesman on Sunday condemned a European Union court ruling allowing employers to ban staff from wearing Muslim headscarves as appeasing Islamophobia. “The European Court of Justice ruling on the headscarf in the workplace is another blow to the rights of Muslim women …

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