Both the protests and the market fallout could have been worse, Deutsche Bank strategist Jim Reid said in a note to clients on Monday. “The fact that he wasn’t charged with terrorism means the news isn’t as extreme as it could have been,” he argued, noting that “such a move would have led to the…
(Bloomberg) — The costs of borrowing Turkish lira in the offshore market and insuring the country’s debt against default are holding near the levels they set last week, a sign that traders remain deeply on edge after a wild period for the market. The lira dipped against the dollar. Most Read from Bloomberg The offshore…
(Bloomberg) — Turkey’s capital markets regulator banned short-selling across all stocks and relaxed share buyback rules in a bid to prevent further equity losses after the country’s benchmark index tumbled last week following the detention of a prominent opposition leader. Most Read from Bloomberg The new rules, announced late Sunday, broaden a previous ban that…
Thousands gather near Istanbul’s town hall in support of the city’s recently arrested mayor. Thousands of protesters have joined a march in Istanbul in support of the city’s arrested mayor, defying a warning from Turkish President Recep Tayyip Erdogan that authorities would crack down on “street terror”. Demonstrators took to the streets in Turkiye’s commercial…
Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey. Hakan Akgun | Getty Images The Turkish lira fell to a record low against the dollar and the country’s benchmark stock index dropped by…
Turkish President Recep Tayyip Erdogan again rejected a U.S. proposal to relocate Palestinians from Gaza and said Israel should pay for the damage it caused there and for reconstruction to begin. “We do not consider the proposal to exile the Palestinians from the lands they have lived in for thousands of years as something to…
ANKARA, Turkey (AP) — A fire raged through a 12-story hotel at a popular ski resort in northwestern Turkey early Tuesday during a school holiday, killing at least 76 people — at least two of them when they jumped from the building to escape the flames, officials said. At least 51 people also were injured…
ANKARA, Turkey (AP) — As forces opposed to Syrian President Bashar Assad make swift and significant advances in Syria, Turkey is watching closely for any spillover. Turkey, which shares a 911-kilometer- (566 mile-) long frontier with Syria, has been a main backer of opposition groups aiming to topple Assad since the outbreak of the Syrian…
Overall, the front lines of Syria’s civil war have been stagnant since 2020, although there have been fierce episodic clashes. For the past four years, Assad has controlled much of the country and its largest cities; a Turkey-tolerated, HTS-led alliance of mostly Islamist rebels have remained squeezed in an enclave in Idlib and parts of…
China’s Xi Jinping, India’s Narendra Modi, Turkey’s Recep Tayyip Erdoğan and possibly even the UN Secretary General are attending a controversial meeting in Russia of a grouping that threatens to dwarf the EU’s economic clout. ADVERTISEMENT An expanded meeting of emerging economies taking place in Kazan, Russia, is sending jitters among EU policymakers. The club…