Turkey

Belarus in top three holiday spots popular with Russians

bne IntelliNews August 15, 2017

Belarus is in the top three spots popular with Russian holidaymakers, according to Yandex.Money, which analyzed the countries the Russians headed to for their breaks this summer.

May brings further drop in Turkish unemployment rate

bne IntelliNews August 15, 2017

Turkey’s unemployment rate eased to 10.2% in May from 10.5% in April.

Turkey’s central budget runs TRY926mn surplus in July

bne IntelliNews August 15, 2017

Turkey’s central government budget produced a surplus of TRY926mn (€223mn)in July, up from the TRY129mn surplus recorded a year earlier.

Turkey’s June current account deficit shrinks 24% y/y

bne IntelliNews August 11, 2017

Turkey’s current account deficit declined by 24% y/y to $3.76mn in June, beating expectations as exports moved up 3% and imports declined 2%.

Turkey’s ruling AKP ‘too busy restructuring to consider early elections’

bne IntelliNews August 10, 2017

Simultaneous parliamentary and presidential polls will not be brought forward from end of 2019 says party, described by Erdogan as “fatigued”.

Turkey’s Anadolu, AB InBev brew up merger to take on contracting Russian, Ukrainian markets

bne IntelliNews August 9, 2017

Turkey’s leading brewer Anadolu Efes announces initial agreement with world’s largest brewer AB InBev for 50:50 merger of Russia and Ukraine businesses, new enterprise to take on beer markets suffering longstanding decline.

Erdogan back on the war path against “profiteering” Turkish banks

bne IntelliNews August 9, 2017

Demanding cheaper loans to stimulate the economy, president asks how lenders' profits can rise 40% when GDP only expands 2.9%.

Leaked data on profits at privatised utility KEDS put pressure on Kosovo’s PDK

Iulian Ernst in Bucharest August 9, 2017

Figures obtained by local daily Zeri show Turkish consortium Calik-Limak recovered its investment just one year after buying majority stake in KEDS, in revelations likely to embarrass PDK as it tries to form new government.

Turkey’s industrial production up 3.4% y/y in June

bne IntelliNews August 8, 2017

Turkey’s calendar-adjusted industrial production index moved up 3.4% y/y in June to very slightly trail May's 3.5% y/y.

Turkey vows closer security ties with China, promises to target hostile media

bne IntelliNews August 4, 2017

Ankara’s pledges to Beijing come as Turkey looks to position itself to gain from the massive One Belt, One Road initiative, but may disappoint EU leaders wary of slide to authoritarian rule.

Turkey’s annual inflation falls to lowest level in 6 months, edges into single digits

bne IntelliNews August 3, 2017

Turkey's annual inflation softens to 9.79% in July from 10.9% in June, but core inflation strengthened by 0.4pp to 9.6%.

Turkey’s exports climb 31% y/y in July to $11.5bn

bne IntelliNews August 1, 2017

Strong sales to Russia and good automotive figures help drive up Turkey’s exports by a sharp 31.2% y/y to $11.5bn in July.

Turkey’s tourist arrivals jump 43% y/y in June

bne IntelliNews August 1, 2017

Huge influx of Russians drive improvement in Turkey's tourism industry following Ankara and Moscow's rapprochement, but rate for visiting Europeans is flat.

CEE/CIS economic hubs face $1.3 trillion infrastructure gap

Clare Nuttall in Bucharest August 1, 2017

The region's steepest gap - of $727bn - is in Russia where inadequate infrastructure spending in recent decades has hindered economic growth.

Turkish banking industry’s combined profit rises 33% y/y in H1

bne IntelliNews August 1, 2017

Turkish banks’ combined net income rose by a substantial 33% y/y to reach TRY25.35bn (€6.1bn) in H1 as the lenders proved resilient amid a less than sure economy.

Turkey’s tourism revenues grow nearly 9% y/y in Q2

bne IntelliNews July 31, 2017

Turkey’s tourism revenues increased by 8.7% y/y to $5.41bn in the second quarter of the year as foreign tourists, especially Russian visitors, have started to return to the country to spend their holiday.

Turkey’s foreign trade deficit shrinks 9.1% y/y in June

bne IntelliNews July 31, 2017

Driven by soft imports, Turkey’s foreign trade deficit declined by 9.1% y/y to $6.01bn in June.

Turkey’s economic confidence index jumps 4.5% m/m in July

bne IntelliNews July 28, 2017

July’s figure of 103.4 is the best figure seen since November 2013 and comes after the index fell back into negative territory in June.

Turkey's central bank keeps policy rates on hold to no surprise

bne IntelliNews July 27, 2017

As anticipated, Turkey’s central bank, amid its battle against double-digit inflation, on July 27 kept its one-week repo (8%), overnight lending (9.25%) and borrowing (7.25%) rates on hold.

Poland, Turkey stocks soar, Russia takes a bath

Ben Aris in Berlin July 27, 2017

Poland and Turkey’s stock markets are soaring, up 38% and 35% respectively, making them the best performing markets in the MSCI EM universe. But Russia is in its traditional place of worst performing market YTD, down 15%.

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