Turkey

ISTANBUL BLOG: Portfolio flows stabilise but don’t fall into a recovery trance

Akin Nazli in Belgrade April 19, 2021

Derisory attempts at defending the lira in evidence. The fact that the country’s coronavirus crisis is about to go hardcore will not help.

BORDERLEX: EU Commission goes back to the drawing board to revive Turkey trade talks

Iana Dreyer of Borderlex April 18, 2021

The Commission's latest attempt to revamp the customs union with Turkey faces many obstacles before it can even start.

Turkish Airlines flies only 2.5mn passengers in March

Akin Nazli in Belgrade April 17, 2021

Resurgence in Turkey’s coronavirus outbreak looks set to hinder flag carrier’s attempts to stage a recovery.

wiiw raises 2021 CEE growth forecast to 3.8%

Robert Anderson in Prague April 16, 2021

But pandemic has delayed restart of convergence with Western Europe until 2023.

Turkey’s key rate held but central bank language ‘indicates premature easing is ahead’

bne IntelIiNews April 16, 2021

Regulator says “domestic activity is strong” but Capital responds: “Our own reading is that the economy is starting to slow more abruptly.”

“Where is the $128 billion?” posters plastered across Istanbul ask Erdogan

bne IntelIiNews April 14, 2021

Police use cranes to remove embarrassing message from city streets as main opposition party says it won’t let the matter of Turkey’s decimated FX reserves go.

MITTELEUROPEAN INSIGHTS: Russian 'sanctions bubble' vs Ukrainian and Turkish fundamentals

Gunter Deuber in Vienna April 14, 2021

For financial market investors, Russia is currently in the same basket as Turkey and Ukraine, but only on a temporary basis.

Azerbaijan accused of fomenting ethnic hatred with display of dead Armenian soldiers’ helmets

bne IntelIiNews April 14, 2021

Yerevan, meanwhile, moves towards putting on trial two men from Syria it claims served as mercenaries in Nagorno-Karabakh conflict after being recruited by Turkey to fight for Baku.

TRENIN: Russia-Ukraine war alert – what’s behind it and what lies ahead?

Dmitri Trenin of the Carnegie Moscow Center April 13, 2021

Perhaps the most important thing for the Russian leadership in this episode was to prevent the need to actually go to war against Ukraine in the future. Going for overkill in terms of military manoeuvres now prevents actual war later.

Istanbul-listed Dogan joining Turkish IPO spree with Galata Wind unit

Akin Nazli in Belgrade April 13, 2021

Small caps have offered huge returns with flotations the new "kitsch". Turk Ilac, locked at the price ceiling for 20 days, became a rich butt of jokes.

Russia slaps flight restrictions on Turkey after Erdogan backs Ukraine

bne IntelIiNews April 12, 2021

Kremlin says move is response to Ankara’s worsening coronavirus difficulties but analysts see it as punishment for siding with Kyiv.

Nakhchivan rail plans promise to rewire Caucasus connections

David O'Byrne for Eurasianet April 9, 2021

Iran stands to be one of the winners of the new regional transportation map.

ISTANBUL BLOG: Portfolio outflows decline but Turkey not out of the woods yet

Akin Nazli in Belgrade April 8, 2021

Anxious times for a central bank with a net FX position of around minus $60bn.

Persian-speaking Iran and Tajikistan boost defence relations

bne IntelIiNews April 8, 2021

Tajik Rahmon administration has long been wary of Tehran exporting Islamic Revolution to inhabitants opposed to Soviet-legacy rule.

Murat Ulker still Turkey’s richest billionaire says Forbes

Akin Nazli in Belgrade April 7, 2021

His Yildiz Holding has since 2018 restructured its debts several times. In food, its businesses include Godiva Chocolatier, Pladis Global and SOK.

Coronavirus explosions in Turkey and Iran intensify

bne IntelIiNews April 7, 2021

Latter bans tourist flights to the former. Iranian deputy minister angered by relaxation of restrictions over Nowruz holidays.

ISTANBUL BLOG: Official inflation bumps up to 16.2%

Akin Nazli April 5, 2021

Thigh deep in the economic quagmire, Erdogan regime at least hears that as things stand Europe can live with it, while Biden seems unlikely to opt for a ruckus.

Turkish manufacturing expansion hindered by raw material sourcing difficulties PMI survey shows

bne IntelIiNews April 5, 2021

Inflationary pressures in industry were exacerbated by currency weakness, even ahead of lira’s latest plunge.

CEE reels as third wave of COVID-19 breaks

bne IntelliNews April 3, 2021

A third wave of the coronavirus pandemic is sweeping through Emerging Europe. While Russia is expecting to reach herd immunity in the next two months, most other countries of the region have only just started their mass immunisation programmes.

Coronavirus re-erupts in Turkey

bne IntelIiNews March 31, 2021

Already mired in a homegrown economic crisis, the country faces losing out on vital tourism revenues for a second summer running.

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