Turkey

Soros group pulling out of Turkey after Erdogan’s vilification

bne IntelliNews November 26, 2018

Open Society Foundations claims it is the target of baseless allegations in the Turkish media, while it faces an interior ministry investigation.

Turkish business confidence recovers slightly but remains in negative territory

Akin Nazli in Belgrade November 26, 2018

Underlying shock in economy still playing out, say analysts. Industry’s CUR at lowest point since early 2015.

Turkish finance minister’s borrowing moves ‘risk accentuating recession’

Akin Nazli in Belgrade November 23, 2018

Opposition lawmaker protests that Albayrak is “playing with fire by trying to lower interest rates via fiddling with the Treasury auctions”.

Barbs not bouquets thrown at Turkey and EU’s "High-Level Political Dialogue Meeting"

bne IntelliNews November 22, 2018

Joint press conference given by EU foreign and enlargement commissioners and Turkish foreign minister quickly turns tense.

Turkish consumer confidence recovers slightly in November

Akin Nazli in Belgrade November 22, 2018

Amid slump in demand triggered by currency crisis analysts see signs Turks have switched their consumption away from imports towards domestically-produced goods.

Alarm as Turkey’s “she-wolf” talks of repeat Cyprus invasion

bne IntelliNews November 21, 2018

Rows over the rights to oil and gas reserves near the divided island are ratcheting up tensions.

Trump’s Khashoggi stance “bizarre” and “shameful” says Iran’s Zarif

bne IntelliNews November 21, 2018

Iranian foreign minister responds to US president’s move to stand by Riyadh despite brutal killing which the CIA has briefed was ordered by the Saudi crown prince.

European rights court orders Turkey to free Demirtas

bne IntelliNews November 20, 2018

Pre-trial detention of the pro-Kurdish HDP party politician has so far lasted two years. Erdogan claims ECHR ruling is not binding.

Iran introduces petrol rationing to curb smuggling by profiteers

bne IntelliNews November 20, 2018

Collapse of rial in face of US sanctions has made country’s fixed-price fuel attractive on regional black markets.

Issued building permits in Turkey down 41% y/y in Jan-Sept

Akin Nazli in Belgrade November 20, 2018

Data highlights how Turkish downturn amid the lira currency crisis has gathered pace.

Turkey’s retail sales fall for first time since early 2017

Akin Nazli in Belgrade November 19, 2018

Consumers tighten belts with country mired in a currency crisis and wary of sliding into a debt crisis coupled with a steep recession.

Recession ahead: Turkey’s 23-month-long industrial growth streak is over

Akin Nazli in Belgrade November 16, 2018

Industrial production contracts 2.7% in September, marking the biggest annual drop since 2009 as downturn drains consumer demand.

Turkey’s unemployment rate recorded at 11.1% in August, 0.5pp up on a year ago

bne IntelliNews November 15, 2018

Figure now highest since last year, risks are seen on the upside as economic rebalancing takes hold ahead of possibly severe recession.

White House weighs Gulen, Khashoggi ‘transaction’: report

bne IntelliNews November 15, 2018

Officials tell NBC Trump administration looking at possibility of placating Turkish president Erdogan over Saudi murder by removing his foe from US.

Turkey’s end-year inflation expectations rise again, central bank survey respondents now see 24.45%

bne IntelliNews November 15, 2018

Central bank’s weighted average cost of funding forecast to rise from 24% to 24.12% in the three months ahead.

COMMENT: Western sanctions against Russia: decision year in 2019 or 2029?

Gunter Deuber of Raiffeisen Research in Vienna November 15, 2018

Ever since sanctions were imposed on Russia following its annexation of the Crimea in 2014 there has been constant speculation on when the US and EU sanctions will be lifted again. It could happen in 2019, but if not then it will take a decade

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