Turkey

ISTANBUL BLOG: Latest monumental folly from Erdogan to deliver the ‘Turkish Pentagon’

bne IntelIiNews September 2, 2021

Flat broke Turks will be thrilled to hear of mammoth defence HQ that will “instill fear in enemies and trust in allies”.

Turkey posts 2Q GDP surge of 22% but quality of growth fears remain

bne IntelIiNews September 1, 2021

Apart from disquiet at reliability of data, observers worry expansion has been bought at cost of a weaker currency and higher inflation.

bneGREEN: CBAM to have less bite than bark

Richard Lockhart in Edinburgh September 1, 2021

The cost of the EU’s proposed CBAM may turn out to be less than initially feared by exporters into the EU, a new report from Sandbag and E3G, two pro-green think-tanks, have found.

PMI manufacturing survey shows business conditions in Turkey strengthened for third straight month

bne IntelIiNews September 1, 2021

Report also shows supply chain disruption continued in August, contributing to further rises in input costs and selling prices.

Thousands of Afghan refugees ‘crossing largely unpoliced border into Iran every day’

bne IntelIiNews August 31, 2021

European officials aware that 2015 migrant crisis reshaped global politics quick to offer Afghanistan’s neighbours millions to at least temporarily host people who have fled the Taliban.

Turkey’s moves to block Afghan refugees likely to fail says Chatham House analyst

bne IntelIiNews August 30, 2021

Any additional refugees coming into Turkey will further damage the popularity of president Erdogan in a country under heavy economic pressure, points out Fadi Hakura.

bneGreen: Steel faces paying for its carbon

Richard Lockhart in Edinburgh August 30, 2021

The steel industry in Emerging Europe is staring at mounting costs as it must contend with paying for the greenhouse gas (GHG) emissions it creates.

Only tough options for Afghans looking to escape north or west

Muzaffar Ismailov in Tashkent & Kanat Shaku in Almaty August 29, 2021

The UNHCR has estimated half a million could attempt to flee Taliban rule by year-end, but Central Asia, Iran and Turkey will prove far from welcoming.

ISTANBUL BLOG: Revisiting jihadism and why it’s ‘next stop, China’

Akin Nazli in Belgrade August 25, 2021

US exit from Afghanistan is brewing up a Salafi storm in which Turkey’s Syria militants could play a role.

ISTANBUL BLOG: Turkey ups growth forecasts to more than 8%

Akin Nazli in Belgrade August 21, 2021

The Turkish authorities' predictions for growth are becoming more and more bullish and unbelievable.

Erdogan warns Turkey won’t be ‘Europe’s refugee storehouse’

bne IntelIiNews August 20, 2021

Performing poorly in the opinion polls, Turkish president is under pressure not to allow a wave of refugees from crisis-torn Afghanistan to settle in Turkey.

Kazakhstan set to lose quarter of grain crop as drought hammers Eurasia

Kanat Shaku in Almaty & Akin Nazli in Belgrade, Will Conroy in Prague August 19, 2021

Drought hits main grain-producing regions, pushing up food prices and forcing Iran to import wheat for first time in five years.

ISTANBUL BLOG: Erdogan’s field is economics. All bets on Turkish inflation are off

Akin Nazli in Belgrade August 18, 2021

It may have been irresistible market realities that prevented the central bank from fulfilling the president’s idiosyncratic demands for summer rate cuts. But will the dam break?

$6bn of IMF SDRs will hardly dent Turkey’s net reserves deficit of $41bn

Akin Nazli in Belgrade August 17, 2021

A $2bn swap deal with Korea also provides little but make-up. Turkish central bank has no competitor worldwide in carrying such a huge short FX position.

ASH: US pulls out of Afghanistan to focus on China problem, but that is harder now

Tim Ash of BlueBay Asset Management in London August 16, 2021

The fact the Biden administration pulled the plug on allies and friends in Afghanistan, and against the advice of allies in Nato, just affirms its all encompassing focus on China in foreign policy.

ISTANBUL BLOG: Nato training for Afghans in Turkey gives off a “Syria” odour

Akin Nazli in Belgrade August 14, 2021

Fresh wave of migrants from Afghanistan crossing Turkish border will, meanwhile, only add grist to the mill of Europe’s populists.

No surprises as Turkey’s central bank again holds policy rate

bne IntelIiNews August 12, 2021

Prior to rates meeting president Erdogan was pushing for summer easing.

Turkey suspends Antalya health workers’ leave ‘as Russian tourist influx drives up Covid infections’

bne IntelIiNews August 10, 2021

Number of cases in country’s most visited tourist destination at least three or four times greater than official data shows, claims head of local medical association.

Turkish forestry agency’s firefighting spending ‘was one tenth of its outlay on basketball teams’

bne IntelIiNews August 9, 2021

Budget was “planned as though there weren’t going to be any fires”, opposition lawmaker protests.

Turkish fintech Odeal among top fundraisers in Q2

Akin Nazli in Belgrade August 8, 2021

Total of 63 Turkish start-ups raised $746mn in Q2, bringing H1 figures to 129 deals worth $1.26bn, says Startups.watch. Country has several enterprises that look set to become unicorns waiting in the wings.

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