Turkey
Near-stabilisation of business conditions in Turkish manufacturing recorded by May PMI
Index at highest since March 2024. However, “safety stock building amid disruption caused by war in Middle East” was a factor.
Rubio backs Trans-Caspian gas pipeline proposal in meeting with Turkmenistan’s top diplomat
Infrastructure could boost European energy security, though Russia could move to block it.
Turkey releases official 1Q GDP growth at 2.5% y/y
The civil servants of economic management tend to release a lower figure in the initial digestion, before revising it up in following releases.
BofA goes short on 2-month dollar/lira forward contract for 3.3% monthly carry return
Bank’s analysts say Turkey’s rising political uncertainty has led to a repricing of risk, creating a more attractive entry point.
COMMENT: Now there’s a thing – Deutsche Welle circulates Erdogan regime’s line in English but butters up opposition in Turkish
Core tenet of German foreign policy means a public veneer of democratic solidarity, but a reality of accommodating strongmen.
Timur Turlov’s Freedom Holding Corp: From a niche broker to a global fintech player
The story of how a small brokerage firm transformed into a transnational financial ecosystem.
Turkish police move in on opposition rally called over ousting of leader, seizing of party HQ
Teargas and water cannon used to break up Izmir crowd. CHP says political battle will be fought between “the people and Erdogan”.
BEYOND THE BOSPORUS: Defiant Ozel declares Erdogan will be ousted by 60% of voters in snap poll
Unfortunately, as per usual, the CHP does not appear to be living in the real world.
The return of the Silk Road as the “C6”, a key geopolitical link between Europe and Asia
There is a map that used to hang in the offices of Soviet central planners in Moscow, showing the five republics of Central Asia as a single administrative unit with all roads pointing to Moscow. Today the arrows point in all directions at once.
Trump's Abraham Accords gambit appears doomed to fail, given Iran's regional strength
With Iran making itself a heavily relied upon partner to regional allies, US President Donald Trump's bid to bring Pakistan, Saudi Arabia, Qatar, and Turkey into the Abraham Accords with Israel appears destined to fail.
BEYOND THE BOSPORUS: Former MP alleges longstanding Turkish intelligence interference in main opposition party
Stark claims made as critics warn events of recent days mean CHP now essentially headed by a palace appointee.
Self-driving Turkish bus hit from behind one hour after its public transport launch in Sweden
Smash-up involved an e-ATAK, the first full length autonomous bus in the world, and a tram.
COMMENT: Turkey’s opposition leader scales water cannon. Round of applause, but autocracy looks here to stay
Barring an exceptional turn of events, ‘Action man’ Ozel is too little too late. Democracy took a knife to the back long ago.
Armenia says Turkey rail link open for trade in breakthrough for regional connectivity
Armenian PM Nikol Pashinyan says the Akhalkalaki-Kars railway connection through Georgia and Turkey is now available for Armenian trade.
Turkey’s wealth fund moved aggressively in equity, bond markets as opposition chief was ousted
Brokers talk of heavy and coordinated intervention.
Bets placed on 300-bp Turkey rate hike as move to crush opposition rattles markets
Court order to bring back former CHP leader seems to be part of a divide-and-rule approach.
Turkey suffers severe stock market sell-off as Ankara court ousts opposition leader
Predecessor Kilicdaroglu reinstated. Removed party chief Ozel in meeting deciding on next move.
Wind and solar overtake coal in Turkey’s power generation for first time - EMBER
Wind and solar energy generated more electricity than coal in Turkey for the first time in April 2026, marking a milestone in the country’s energy transition as strong rainfall also boosted hydroelectric output, according to Ember.
Turkey sacrifices American treasury holdings in defence of lira amid Iran war
US paper stock plummeted from $16bn in February to $2bn in March.
Kazakhstan rejects idea of Turkic states military alliance
Tokayev reins in any such ambitions at OTS summit attended by Turkey’s Erdogan. At same time, wants to turn Kazakh armed forces into “high-tech fist”.