Turkey
Turkey cuts 2024 growth target to 3.5%, pushes up inflation target to 41.5%
Technical recession is on the horizon.
Egypt, Turkey speak of “new era” of relations as el-Sisi visits Ankara for first time since 2013 toppling of Morsi
Economic, geopolitical realities persuade Erdogan to set aside anger over fall of Muslim Brotherhood ally.
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
Despite lack of clarity, a delegation is poised to leave for Beijing.
Turkey's official inflation drops to 52% y/y in August on base effect
ENAG inflation research group calculates rate is actually 90% y/y.
Turkey reportedly bidding for BRICS membership
Development comes week after country for the first time in five years attended a meeting of foreign ministers in Brussels.
_1725305095.jpg)
Subdued demand again dogged Turkish manufacturing, August PMI shows
Challenging market conditions led to further weakening of new orders, the fourteenth in as many months.
VISEGRAD BLOG: Globsec security forum insists Ukraine is still winning the war
The groupthink at Central Europe's top security conference is a serious weakness when the Ukraine war is so finely balanced and sober analysis is more essential than ever.
ISTANBUL BLOG: Simsek’s economic “programme” is misfiring
Still positive GDP growth shows Turkey’s “orthodox” finance minister is struggling to be “orthodox” enough.
2,500 app-based taxis to help address Istanbul’s age-old problem of an acute lack of rides
Research shows the city's taxi fleet of around 18,000 vehicles has not changed since 1990. Yet it is calculated that at least 43,000 are needed.
EV sales in China overtake conventional combustion engine car sales
China continues to solidify its claim to be the global green champion after EV sales overtook the sales of conventional internal combustion engine (ICE) vehicles in July, Energy Intelligence reported on August 28.
Business chief warns of “grave outcome” in Turkey society as high inflation impacts hit home
“We have underestimated this matter,” he says in speech. Istanbul’s planning agency, meanwhile, says 1.3mn in city go to bed hungry.
ISTANBUL BLOG: Jackson Hole photo of central bank chief posing in cowboy hat snatched from view as pressure on lira mounts
Head of Turkey’s exporters’ assembly, meanwhile, visits Erdogan to inform him of the "expectations of the export family".
Reports suggest Turkey to warehouse Russian S-400 missiles in order to obtain F-35 jets from US
Ankara concerned regional rival Greece is obtaining air superiority.
In Turkey's dance of the dead, Istanbul-listed Mega Polietilen files for bankruptcy protection
Trade ministry “regulatory forbearance” measures continuously extended to “zombie” companies since 2018 lira crash mean the dead don’t die.
Kozuva Group becomes 45th contractor in Turkey’s controversial world of PPP
Government has provided $153bn in income guarantees to public-private-partnership projects.
ISTANBUL BLOG: Erdogan refusing to release slain Hamas leader’s $3bn to sons, claims Israeli foreign minister
Though in targeting Turkey’s leader with an AI social media campaign, top diplomat doesn’t grasp that being attacked by Israel is a positive for a politician.
_02___150724_Cropped_0_1724594528.jpg)
Syria's Assad reports no progress in reconciliation with Turkey despite mediation efforts
Syrian President Bashar al-Assad said on August 25 that despite mediation efforts by Russia, Iran and Iraq, there has been no progress in reconciliation between Syria and Turkey.
Thirteen lose lives in violent rent confrontations between landlords and tenants in Turkey
12-month death toll comes amid rampant inflation and introduction of “faulty” rent cap.
Tomatogeddon arrives
Kraft Heinz, known for its ketchup, is pouring millions of dollars into researching tomatoes that can withstand the climate crisis.
Turkey sticks with 50% policy rate for fifth straight month
State banks, meanwhile, deliver intervention in currency market by selling $500mn.