Reciprocal measure taken after North Macedonia introduced tariffs on imports of fish and roe from Kosovo in June this year.
Turkish industrial production contracts for 10th straight month. Worst run since financial crisis. Government, meanwhile, continues to work the credit pumps. “Central bank playing with fire,” says one analyst.
All-in cost of €190mn tranche is Euribor+2.40%, $96mn tranche fixed at Libor+2.50%. Rollover ratio stands at 49%.
Flagship carrier reports 4.8% July fall in number of people flying, with 11% drop in domestic traffic despite tourism high season.
The Socialists’ opposition to fiscal provisions threatens to become the first formal conflict within their fragile alliance with the pro-EU ACUM bloc.
Fall in imports after currency crisis rather than export strength eliminated gap. Repeated credit expansions now undoing progress.
Revelations threaten to undermine the Special Prosecutor’s Office, tasked to probe high level crime, when North Macedonia is pursuing crucial justice reforms as it seeks the go-ahead for EU accession talks.
Q2 profit significantly above market average expectation mainly thanks to hefty deferred tax gain recorded by oil refiner.
Serbian Prime Minister Ana Brnabic blames "chaotic political situation" in Pristina as relations deteriorate further.
Average market forecast was for TRY306mn, but company was able to record TRY347mn and meet expectations for 31% growth in revenues.
Many internal and external factors help explain the currency’s recovery but jittery investors still see vulnerabilities everywhere.
To reach agreement more vague commitment made to Nato membership that overcomes objections of Milorad Dodik of the Serb Alliance of Independent Social Democrats.
Automakers hooked on fiscal generosity now in for a rough second half if no more government assistance is forthcoming.
Netflix and local streaming platforms among those affected, while critics warn all internet media producing opposition news will feel impact.
Spanish lender BBVA, which owns just short of half of the bank, says Turkey’s political instability and recession dented its group profitability.
Trade association pushing for permanent fiscal help for sector suffering amid misery wrought on consumers by Turkey’s economic woes. Exports helping to keep companies afloat.
But this is Turkey—the economic fundamentals do not explain what is before the market’s eyes.
The ruling PSD and its junior partner ALDE are fielding rival candidates and things are already getting acrimonious.
Mittal, brother of steel magnate Lakshmi Mittal, was arrested along with two others on suspicion of organised crime and abuse of office.
Move serves as something of a ‘shot across the bows’ of Turkey. Bank is country’s biggest single lender.