Turkey

Tourists head off the beaten track in CEE and Eurasia

Clare Nuttall in Bucharest October 19, 2018

Exotic destinations in Central Asia and the Caucasus saw the region’s sharpest increase in tourist spend in the last seven years, a report from the WNWTO shows.

Home sales in Turkey fall 9% in September, mortgage sales sink 72%

Akin Nazli in Belgrade October 19, 2018

Some relief evident, however, for FX-loan indebted construction firms with Turkish lira strengthening around 20% since start of September.

Turkey’s end-year inflation expectations reach 24.22% in October

bne IntelliNews October 18, 2018

The figure is a big advance on September's forecast of 19.61% with the country's CPI having surprised the market by springing from 17.9% in August to 24.52% in September.

EP Turkey rapporteur Piri visits jailed Kurdish leader Demirtas’ wife

Akin Nazli in Belgrade October 18, 2018

Vocal critic of Erdogan’s “undemocratic” executive presidency pays call at a time when Turkey’s prospects of eventual EU membership are in the balance.

Pompeo shuttles to Ankara as report details alleged grisly last moments of Khashoggi

bne IntelliNews October 17, 2018

Report says missing Saudi journalist was allegedly dismembered with a bonesaw while still alive.

Turkey’s one-year foreign debt repayment obligations down 3% m/m to $175bn at end-Aug

bne IntelliNews October 17, 2018

Country must repay $45bn in foreign debts across August-December, with private sector share calculated at $37bn says Treasury.

Turkey raises $2bn from 5-year eurobond yielding 7.5%

Akin Nazli in Belgrade October 17, 2018

Finance minister bills sale as evidence of Turkey's sound economic fundamentals and solidity against external shocks amid its economic difficulties.

Vehicle sales in Turkey expected to fall 39% y/y in 2018 says automotive association

bne IntelliNews October 17, 2018

Turkish Automotive Distributors’ Association sees sales of 600,000 units in 2018 and 450,000 in 2019.

Turkey’s retail sales growth falls to 18-month low of 1.3% y/y in August

bne IntelliNews October 17, 2018

Consumers tightening their belts amid currency crisis, roaring inflation and the likelihood of a severe recession.

Turkish private sector’s one-year foreign loans repayment obligations down 3% m/m to $69bn in August

bne IntelliNews October 16, 2018

Swathes of companies seeking bankruptcy protection amid country's currency crunch.

Gap between Turkey’s home price growth and inflation reaches 804bp in August

bne IntelliNews October 16, 2018

Figure compounds worrying trend of lost value for home owners that now stretches back a year.

Turkey’s adjusted industrial output growth surprises again

Akin Nazli in Belgrade October 16, 2018

Softer indicators, however, continue to suggest country is on course for a hard landing, analysts say.

Lira gains head of steam as Brunson, Khashoggi events run to Turkey’s advantage

bne IntelliNews October 15, 2018

Developments give Ankara leverage over both US and Saudi Arabia.

Turkey’s unemployment rate reaches 10.8% in July

bne IntelliNews October 15, 2018

Amid warnings that Turkey is on course for a deep recession, figures show sustained decline in construction industry jobs and another worrying rise in youth joblessness.

Turkey’s budget deficit contracts 7% y/y in September on non-tax revenues

bne IntelliNews October 15, 2018

Income from interest and fines almost triples due to unexplained miscellaneous revenues.

Erdogan says AKP introducing bill to switch CHP’s Isbank ‘Ataturk shares’ to Turkish treasury

bne IntelliNews October 15, 2018

President insists that even if opposition party makes no money on the stake, it is not appropriate for politicians to be on the bank’s board.

Turkish Development Bank shares nosedive 47% in less than 24 hours

bne IntelliNews October 14, 2018

Lender on a rollercoaster ride - share price previously saw a gain of over 1,000% after treasury minister said it was to be restructured with an expanded mandate.

Turkey’s vehicle production down only 1% y/y in September after strong export growth

bne IntelliNews October 14, 2018

Severe devaluation of the lira shows through in changing dynamics of automakers' output.

Turkish court convicts but frees US pastor Brunson

bne IntelliNews October 12, 2018

Decision a big breakthrough in resolving diplomatic rift between Ankara and Washington, may help ease Turkey’s economic turmoil.

Turkey, Saudi Arabia announce joint Khashoggi probe

bne IntelliNews October 11, 2018

Donald Trump says US is also investigating suspected murder in Istanbul consulate of Riyadh critic but says he won’t halt $110bn of arms sales to kingdom.

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