Turkey
Heidelberg Materials acquires Turkish partner Sabanci’s 40% stake in cement maker Akcansa for $437mn
Takeover rules will require buyer to make mandatory tender offer for listed 21% stake in acquired company.
Turkey holds benchmark rate at 37% in line with expectations
Rate-cutting cycle came to a halt as energy prices spiked with the start of the Iran war.
CENTRAL ASIA BLOG: There are those who swear Tokayev just auditioned for the UN top job
Rumours have swirled for months that Kazakhstan’s president wants to succeed Antonio Guterres. An appearance at an event in Turkey did his chances no harm at all.
ISTANBUL BLOG: Message for the CHP. The number of jailed opposition mayors in Turkey has reached 24
Party leader Ozgur Ozel has so far proven so ineffective that president Erdogan finds him entirely tolerable outside of a prison cell.
Middle Corridor in play
Squeezed by a sanctioned Russia to the north and a war prone Middle East to the south, the Middle Corridor that runs through Central Asia and the Caucasus is back in play as the main route connecting Europe to Asia by land.
Could it be Goodbye Dubai, Hello Istanbul?
International investors unnerved by events in the Gulf may look to relocate. Turkey might seem a good choice – but things are rather more complicated than that.
Ankara proposes grand rewiring of Middle East energy export map amid Hormuz blockade
Turkey wants to see a slew of Gulf and other pipelines converge on its territory to ensure the world will never again be cut off from sufficient oil and gas.
Syria takes control of all former US military bases
Syria has taken full control of all military sites formerly used by US forces, completing the handover process.
Thousands of Central Asia-bound trucks stuck in Azerbaijan due to war-hit Iran’s border closure
Unable to use northern Iranian roads, truckers are forced to wait their turn for a ferry crossing.
Turkish automaker Tofas obtains €276mn BBVA loan to produce new K9 LCV models for Stellantis
Istanbul-listed company provided eight-year funding by Madrid-listed bank at Euribor+2.25-2.35%.
Istanbul-listed Aksa Enerji obtains $300mn six-year loan from Africa Finance Corporation
Funding will finance power plant investments across African continent.
Turkey has the second most foreign military bases in the world after the US
Turkey has emerged as the country with the second-largest number of foreign military bases in the world after the United States, and is the only Muslim-majority nation with a global military base network of this scale.
Disinformation over Erdogan threat to invade Israel reportedly goes viral
Video clip taken from real speech, but edited and misrepresented, says Dailymotion.
Fitch downgrades outlook on Turkey as war impacts drain FX reserves
Unscheduled move comes as central bank stung for $50bn in cost of interventions made in defence of lira.
Somalia poised to begin its first offshore oil drilling operations with Turkey’s help
Somalia is preparing to begin its first offshore drilling campaign with Turkey’s deepwater drillship "Çağrı Bey", a milestone in efforts to test a frontier basin estimated to hold 30bn barrels of prospective oil.
Arched brows as Turkey releases official inflation at 2% m/m despite war effects
Country’s economic managers working with expected average price of $85/barrel for Brent oil in 2026.
Diner stunned as microchip found in meal reveals meat is from retired Turkish racehorse
Thoroughbred mare Smart Latch illegally diverted to slaughterhouse after career ended by broken leg.
Erdogan lobbies Fico in campaign to lift EU sanctions on Uzbek tycoon Usmanov
Media outlet publishes full text of letter written to Slovak PM by Turkish president.
$2bn World Bank loan to eliminate Bosporus bottleneck in China-Europe trade corridor breakthrough
INRAIL project also a boost for commerce aross Central Asia, Caucasus and Middle East.
War snuffs out signs of recovery in Turkish manufacturing, shows March PMI
Impacts of conflict disrupted supply chains and pushed up costs for inputs including fuel and oil.