Turkish defence industry will bounce back stronger from F-35 exclusion asserts official

bne IntelliNews July 18, 2019

Doing so will prove a tall order—the Pentagon calculates loss of work will cost fighter jet component manufacturers in Turkey some $9bn.

TURKEY INSIGHT: Are these markets for real?

Akin Nazli in Belgrade July 18, 2019

For now, Erdogan, the master of distraction, appears to have enough economic and political control. But, if behind the scenes he is digging as frantically as some observers believe, he’ll struggle to get out of his deep hole.

Ankara hits out as US cuts Turkey from F-35 fighter jet programme

bne IntelliNews July 17, 2019

Move in response to Erdogan administration buying Russian missile systems set to cost Nato member country $9bn in projected work share.

No FX liquidity crunch yet faced by Turkish banks in wake of lira crisis: Fitch

Akin Nazli in Belgrade July 16, 2019

Rating agency adds that refinancing risks remain high in face of currency volatility and political uncertainties.

Trump frustrated as US moves to cancel Turkey’s order for F-35s

bne IntelliNews July 16, 2019

With deliveries of Russian S-400 missile systems to Turks under way, Washington officials say Ankara won’t get its hands on world’s most advanced fighter jet. Commander-in-chief says situation is not “fair” and blames Obama.

Turkey meets EU Cyprus gas drilling sanctions with ‘fourth ship’ announcement

bne IntelliNews July 16, 2019

Growing sense among analysts that with economy shot Erdogan is provoking constant ‘state of emergency’ to hold on to power.

“Serious” interest rate cuts on the way: Erdogan

bne IntelliNews July 15, 2019

Under pressure Turkish president who fired central bank governor last week leaves no doubt he is at the monetary helm.

EU may threaten Turkey with sanctions over Cyprus dispute

bne IntelliNews July 11, 2019

The European Union’s row with Turkey over access to potential deposits of oil and gas in the disputed waters around Cyprus has flared up again.

BALKAN BLOG: Balkan divisions on display at bad-tempered Sarajevo summit

Clare Nuttall in Glasgow July 10, 2019

The brawl at Sarajevo airport between Bosnian border guards and Turkish President Erdogan’s security was the only time things turned physical, but it came on top of a whole series of acrimonious verbal clashes between Southeast European politicians.

Central European economies decouple from Eurozone slowdown

Clare Nuttall in Glasgow July 9, 2019

Economists from wiiw have revised upwards their forecasts for Central and Southeast European economies as wage-driven growth has stopped them from following the eurozone into a slowdown.

Construction of the Turkish Stream pipeline 90% finished

Ben Aris in Berlin July 9, 2019

Last week Russian state-owned gas giant Gazprom invited bank analysts on a trip to inspect the construction work of the Turkish Stream (aka TurkStream) pipeline. They report work on the pipeline is on schedule and that it is 90% complete.

Timothy Ash on trying to figure out the Turkish sacking of the central bank governor story

Timothy Ash Senior Sovereign Strategist at BlueBay Asset Management in London July 8, 2019

On June 6 Turkish president Recep Tayyip Erdogan used his new executive president to sacked the governor of the Turkish central bank and markets tanked. What happens next?

Volkswagen reportedly gives up on plans to build plant in Turkey

bne IntelliNews July 8, 2019

German carmaker giant Volkswagen has given up on plans to build a multi-billion production plant in Turkey, a well-informed journalist announced on Twitter on July 5.

Turkish President Erdogan sacks the governor of the central bank

bne IntelliNews July 6, 2019

“Its tin hats time in USDTRY,” tweeted Paul McNamara, after Turkey's president sacked the governor of the Central Bank

VTB Capital sounds time for “taking profits” in Turkish assets

Akin Nazli in Belgrade July 4, 2019

VTB Capital believes it is not worth chasing the current rally in Turkish assets, and that in fact it is worth taking profits from a trading perspective.

TANAP pipeline comes online, a major piece in Europe’s energy puzzle

Clare Nuttall in Glasgow July 3, 2019

Completion of the TANAP pipeline brings completion of the Southern Gas Corridor that will diversify Europe’s gas supplies away from Russia closer to reality — at a time when Russia is building its own new pipeline infrastructure.

Turkey collecting bids for 5-year eurobonds at initial price guidance of around 6.65%

Akin Nazli in Belgrade July 2, 2019

Ministry of Treasury and Finance has mandated BNP Paribas, Citigroup and HSBC in order to issue US dollar-denominated eurobonds due 2024.

Erdogan’s police use rubber bullets against Istanbul Pride attempt as usual

Akin Nazli in Belgrade July 2, 2019

Turkish LGBT activist defied a ban on the Istanbul Pride march but riot police fired rubber bullets and teargas at the crowd in an attempt to break up the gathering.

Trump-Erdogan meeting brings no logic to S-400 row but temporary relief for Turkish assets

Akin Nazli in Belgrade July 1, 2019

Markets have focused on the meeting since the Turkish side has been saying for a while that Erdogan would solve the sanctions issue with Trump in Osaka.

Turkish lender Yapi Kredi sells TRY917mn NPL portfolio for TRY26mn

Akin Nazli in Belgrade June 27, 2019

Analysts see Turkey’s credit growth remaining weak holding back economic recovery.