Turkey
Cocaine barons switch to trafficking via Turkey after heavy seizures on direct-to-Europe route
Extent of new smuggling indicated by seizure of seven vessels owned by Turks carrying drugs worth $10bn.
Russo-Ukraine ceasefire talks in Istanbul break up with no progress
Russia and Ukraine held direct talks for the third time since the war started on June 2, but the meeting broke up with no real progress made.
Israel and Turkey open round-the-clock direct line to avoid undesired engagements in Syria
Israelis, meanwhile, said to want to ensure their jets stay off Turkish radar in order to keep Syrian airspace 'dark' for any potential Iran bombing mission.
Canal Istanbul land allegedly stolen from under noses of Kuwaiti investors
Forging of signatures said to have enabled illicit takeover of plot that could jump in value with delivery of megaproject.
BEYOND THE BOSPORUS: Erdogan camp's dirty work paints jailed rival as ‘Imamoglu the Suleymanist’
President also sets out to trash opponent as head of an octopus-like criminal syndicate.
Turkey's official annual GDP growth cools to 2% in 1Q
Despite seeming to overcome the Imamoglu and Trump tariff market stress, it appears officials do not feel empowered enough to move on aggressively.
COVID is back - a new "NB.1.8.1" strain is spreading across continents
The coronavirus (COVID-19) is back. Reports from health authorities around the world have detected a new highly contagious strain of the virus that has been spreading through Asia and has now reached Russia.
Erdogan’s “missteps” have doomed him, argues Council on Foreign Relations analyst
Henri J Barkey describes the “flailing of a threatened, insecure, and imperiled man” who is “confronting mounting public fatigue” in Turkey with his presidency.
BEYOND THE BOSPORUS: Turkey is run by mobsters, says film director Fatih Akin in Cannes interview
Award winner speaks out in response to jailing of his manager Ayse Barim in move observers see as part of regime’s preparation for the “Imamoglu operation”.
Critical delay hits Russia’s building of Turkey’s first nuclear plant as $7bn fails to show up
Moscow believed to be seeking financial concessions from Ankara.
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Thousands of species threatened by climate crisis, says novel study
A new study highlights the growing threat climate change poses to animal life, identifying over 3,500 species as at risk.
M360 GSMA Eurasia event spotlights rich promise of mobile tech, 5G and AI
Mobile technologies and services said to have generated 7.7%, or $220bn, of GDP across region last year.
I don’t plan to stand for president again – Erdogan
Top US senator, meanwhile, introduces resolution calling for release of jailed main political rival Imamoglu unless Turkey can present credible evidence against him.
Turkey sticks to end-2025 inflation target of 24%
Space for mid-June policy rate cut to 100-350 bp opens up.
Turkmen labour migrants turning elsewhere as Turkey is less welcoming
Uzbekistan and Belarus new, hot destinations.
Data centre power use expected to increase 20-fold in next five years
The first data centres consumed as much power as 20,000 homes, but the largest today use the same amount of power as100,000 homes, and are on track to burn up 5mn households' worth of power by 2030 – the same amount of power that Japan consumes.
Syria's security forces seize 4mn captagon pills in Latakia
Syria’s Ministry of Interior announced the seizure of more than 4mn of Captagon pills in the western city of Latakia, as part of a crackdown on drug trafficking. The shipment, intended for smuggling, was found hidden inside industrial equipment.
Turkish cement maker Cimko sells $300mn 5-year debut eurobond at 10.75% coupon
First Turkish eurobond sale to take place since market turbulence caused by jailing of Istanbul mayor and candidate for the presidency Ekrem Imamoglu.
Russo-Ukraine Istanbul ceasefire talks break up without result
The first direct meeting between the Kremlin and Bankova for negotiations since the start of the war in Ukraine in Istanbul on May 16 ended in failure with little progress being made.
Borsa Istanbul leads world markets in dollar-basis losses
Turkey’s exchange-traded fund down 9.5% in year-to-date. Thai performance second worst at 6.5%.