Turkey

Geothermal starts to glow in Southeast Europe

Clare Nuttall in Bucharest November 22, 2017

Turkey is an emerging geothermal superstar and countries across Eastern Europe are increasingly harnessing underground energy to provide cheap and eco-friendly local heating and energy.

Turkish lira slides towards 4 to the dollar as analysts fear for central bank’s independence

bne IntelliNews November 22, 2017

Regulator’s moderate veiled tightening in the face of the currency’s descent described as “a complete joke” by one analyst.

Erdogan’s monetary feud and rows with West push Turkish lira back through 3.90

bne IntelliNews November 20, 2017

Analyst says Turkey’s policy makers “seem to be in denial” as president renews unorthodox demands for low rates.

Turkey says purchase of Russian S-400 missile system completed

bne IntelliNews November 13, 2017

Despite scepticism over whether the Nato member country would really go through with the acquisition, Ankara says it has done so. Word on whether the transaction infringes US sanctions directed at Russia now awaited.

Turkish lira remains under strain as Pence-Yildirim tête-à-tête produces little

Will Conroy in Prague November 10, 2017

No breakthroughs announced after Washington, DC meeting expected to address spats over suspended visa services, the status of alleged coup plotter Gulen, Turkey’s missile defence plans and the prosecution of Turkish-Iranian gold trader Reza Zarrab.

Higher exports and investment push first-half growth in all EBRD countries bar two

bne IntelliNews November 7, 2017

EBRD markedly hikes its forecasts for economic growth in Emerging Europe after assessing the arrival of expansion that is so strong that it is already running up against structural constraints.

Turkish PM heads to US as lira, bonds feel heat of spats, inflation

bne IntelliNews November 7, 2017

Some movement towards resolving row over US embassy worker arrest prior to meeting between Yildirim and Pence, but purchases of local-currency government paper have weakened to a crawl.

Turkish central bank “sits on hands” as inflation hits 9-year high

bne IntelliNews November 3, 2017

With core inflation even more alarming as it approaches a 14-year peak, economists call for monetary tightening, but president and ministers persist with unorthodox demands for loosening.

Retired Turkish general reckons odds of Ankara acquiring Russian S-400 missile system “even less than 10%”

bne IntelliNews November 3, 2017

Though Russia's Rostec says the deal has been arranged at more than $2bn and Turkish president states a down payment has been made, observers still foresee Nato member Turkey backtracking.

Macedonia the only EU candidate on track for accession by 2023

Valentina Dimitrievska in Skopje November 1, 2017

Albania and Bosnia could struggle to meet accession criteria by 2050 and Serbia is unlikely to join before the mid-2030s, a new study reveals.

Caucasus “golden triangle” cooperation steams ahead

Clare Nuttall in Bucharest November 1, 2017

As the first train embarks on the Baku-Tbilisi-Kars railway, the economic and geopolitical factors pushing Azerbaijan, Georgia and Turkey to cooperate are as strong as ever.

Turkey’s democracy is broken says forced out mayor

bne IntelliNews October 31, 2017

Massive state-of-emergency purges launched after failed coup of last year now extending into local government.

New Baku-Tbilisi-Kars railway touted as fastest option for Beijing-London link

bne IntelliNews October 31, 2017

Two small South Caucasian nations Azerbaijan and Georgia, as well as Turkey, stand to gain from route that avoids Russia following an ancient Silk Road corridor.

Friction with Turkey stalling defence projects says CEO of Germany's Rheinmetall

bne IntelliNews October 31, 2017

Production of fighter jet munitions, upgrades to Leopard tanks and role in €7bn Altay tank project all hit by ongoing rows between Ankara and Berlin.

Turkey's annual home price growth contracts again as inflation rises

bne IntelliNews October 27, 2017

Turkey’s home price growth in August measures 11.31% y/y, short of the 11.61% y/y recorded for July.

Nato general: Turkey may face fallout if it acquires Russian S-400 air defence

bne IntelliNews October 27, 2017

Head of defence alliance’s military committee refers to unspecified "necessary consequences" if Ankara goes ahead with purchase of hardware incompatible with systems used by Western allies.

Turkish central bank keeps policy rates on hold as lira sinks amid tensions with Germany, US

bne IntelliNews October 26, 2017

As widely expected, Turkey’s central bank kept policy rates on hold, while the lira fluctuated amid developments in diplomatic spats.

Turkish business confidence deteriorates in October, manufacturing CUR hits 9-year high

bne IntelliNews October 26, 2017

Turkey’s business confidence index deteriorated in October after posting gains in the previous two months.

MEPs and Berlin squeeze Turkey’s financing on two fronts

bne IntelliNews October 26, 2017

Proposal to cut Turkey’s EU pre-accession funds advances, while report claims German success in tightening financing available from KfW, EIB and EBRD.

Uzbekistan hopes for return of Turkish investors as Mirziyoyev, Erdogan meeting underscores repaired relations

bne IntelliNews October 26, 2017

Businesses forced out of Central Asian republic under rule of late autocrat Karimov returning as Mirziyoyev’s reputation as a reformist grows.

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