Turkey
Turkish defence industry will bounce back stronger from F-35 exclusion asserts official
Doing so will prove a tall order—the Pentagon calculates loss of work will cost fighter jet component manufacturers in Turkey some $9bn.
TURKEY INSIGHT: Are these markets for real?
For now, Erdogan, the master of distraction, appears to have enough economic and political control. But, if behind the scenes he is digging as frantically as some observers believe, he’ll struggle to get out of his deep hole.
Ankara hits out as US cuts Turkey from F-35 fighter jet programme
Move in response to Erdogan administration buying Russian missile systems set to cost Nato member country $9bn in projected work share.
No FX liquidity crunch yet faced by Turkish banks in wake of lira crisis: Fitch
Rating agency adds that refinancing risks remain high in face of currency volatility and political uncertainties.
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Trump frustrated as US moves to cancel Turkey’s order for F-35s
With deliveries of Russian S-400 missile systems to Turks under way, Washington officials say Ankara won’t get its hands on world’s most advanced fighter jet. Commander-in-chief says situation is not “fair” and blames Obama.
Turkey meets EU Cyprus gas drilling sanctions with ‘fourth ship’ announcement
Growing sense among analysts that with economy shot Erdogan is provoking constant ‘state of emergency’ to hold on to power.
“Serious” interest rate cuts on the way: Erdogan
Under pressure Turkish president who fired central bank governor last week leaves no doubt he is at the monetary helm.
EU may threaten Turkey with sanctions over Cyprus dispute
The European Union’s row with Turkey over access to potential deposits of oil and gas in the disputed waters around Cyprus has flared up again.
BALKAN BLOG: Balkan divisions on display at bad-tempered Sarajevo summit
The brawl at Sarajevo airport between Bosnian border guards and Turkish President Erdogan’s security was the only time things turned physical, but it came on top of a whole series of acrimonious verbal clashes between Southeast European politicians.
Central European economies decouple from Eurozone slowdown
Economists from wiiw have revised upwards their forecasts for Central and Southeast European economies as wage-driven growth has stopped them from following the eurozone into a slowdown.
Construction of the Turkish Stream pipeline 90% finished
Last week Russian state-owned gas giant Gazprom invited bank analysts on a trip to inspect the construction work of the Turkish Stream (aka TurkStream) pipeline. They report work on the pipeline is on schedule and that it is 90% complete.
Timothy Ash on trying to figure out the Turkish sacking of the central bank governor story
On June 6 Turkish president Recep Tayyip Erdogan used his new executive president to sacked the governor of the Turkish central bank and markets tanked. What happens next?
Volkswagen reportedly gives up on plans to build plant in Turkey
German carmaker giant Volkswagen has given up on plans to build a multi-billion production plant in Turkey, a well-informed journalist announced on Twitter on July 5.
Turkish President Erdogan sacks the governor of the central bank
“Its tin hats time in USDTRY,” tweeted Paul McNamara, after Turkey's president sacked the governor of the Central Bank
VTB Capital sounds time for “taking profits” in Turkish assets
VTB Capital believes it is not worth chasing the current rally in Turkish assets, and that in fact it is worth taking profits from a trading perspective.
TANAP pipeline comes online, a major piece in Europe’s energy puzzle
Completion of the TANAP pipeline brings completion of the Southern Gas Corridor that will diversify Europe’s gas supplies away from Russia closer to reality — at a time when Russia is building its own new pipeline infrastructure.
Turkey collecting bids for 5-year eurobonds at initial price guidance of around 6.65%
Ministry of Treasury and Finance has mandated BNP Paribas, Citigroup and HSBC in order to issue US dollar-denominated eurobonds due 2024.
Erdogan’s police use rubber bullets against Istanbul Pride attempt as usual
Turkish LGBT activist defied a ban on the Istanbul Pride march but riot police fired rubber bullets and teargas at the crowd in an attempt to break up the gathering.
Trump-Erdogan meeting brings no logic to S-400 row but temporary relief for Turkish assets
Markets have focused on the meeting since the Turkish side has been saying for a while that Erdogan would solve the sanctions issue with Trump in Osaka.
Turkish lender Yapi Kredi sells TRY917mn NPL portfolio for TRY26mn
Analysts see Turkey’s credit growth remaining weak holding back economic recovery.