Exporters’ association head also warns that if Turkey maintains a brake on lira depreciation, then the “exports side and the production side comes to a halt”.
Russia has been eagerly pushing for the further development of Turkey as a “gas hub” for its gas supplies to Europe. Analysts are asking if this simply a ruse to dodge sanctions and surreptitiously continue to export gas to EU members.
An oil tanker traffic jam has formed off the Turkish coast after the EU’s introduction of a price cap on global Russian crude supplies, the Financial Times reported on December 5. Turkish authorities are demanding new proof of full insurance cover.
The global inflation crisis paired with lacklustre economic growth and an outlook clouded by uncertainties have led to a decline in real wages around the world, a new report published by the International Labour Organization (ILO) has found.
ENAG inflation research group says it fell to 171% from 185%.
Professor also says she expects Iran to carry out land operation in Iraqi Kurdistan.
Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.
Analyst says pre-election pressure could arise for more monetary easing.
Erdogan says ground offensive is next. Kurdish groups accuse Ankara of using Istanbul bombing as pretext for military incursion.
The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.
Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.
The vision for me of the weekend opening of the World Cup in Qatar was of Turkish President Erdogan warmly welcoming his Egyptian counterpart, Sisi. The two have long been rivals and have very different visions of democracy in the region.
COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.
Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.
Russia’s imports crashed after the invasion of Ukraine in February as Western trade partners simply cut supplies to the country off while around 1,000 firms promised to pull out altogether. Now they are recovering fast.
While old foe Netanyahu was out of office, Turkey’s president restored relations with Israel. But Netanyahu is back.
The UN has identified greenwashing by business and finance as the biggest danger facing the race to net zero, urging them to avoid a toxic cover-up and to ensure that any climate pledges they keep are in line with the 1.5-degree targets.
The Black Sea Grain Initiative has been extended for another 120 days following a tense few weeks, Interfax Ukraine reported on November 17.
Fibre-optic lines crucial part of project set to benefit up to 1.8bn people from Frankfurt to Mumbai.
Crypto exchange app adoption per 100,000 people highest among Turks, Bank of International Settlements study shows.