Turkey
Turkey reports official inflation of 62% y/y in September
However, according to the Istanbul-based ENAG research group of economists, inflation was 130% y/y.
PMI shows only marginal improvement in Turkish manufacturing in September
One help to firms was a marked easing of inflationary pressures amid relative currency stability, says S&P.
Turkey hikes electricity tariff for industry by 25%
For households, the government introduced aggressive price cuts prior to the national elections held in May. They are still receiving electricity at prices half of wholesale prices.
Turkey and Azerbaijan would settle for land corridor running via Iran rather than Armenia claims Erdogan
Turkish strongman and Azerbaijani counterpart Aliyev appear to have eased up on ‘Zangezur’ demand. But analysts think it might only be a temporary tactical retreat.
US steel company makes plans for nuclear fusion
US steel company Nucor and Helion Energy plan to develop a 500-MWe nuclear fusion plant at one of Nucor’s steel manufacturing plants.
EBRD projects slowdown in Central Europe, robust growth in Eurasia
High gas prices, China slowdown and shifts in industrial production contribute to slower growth in Central Europe.
COMMENT: Time for Europe to get tough on Azerbaijan
“By launching a military offensive in Nagorny Karabakh, President Aliyev forfeited the trust of Europeans. Azerbaijan’s status as a transport hub cannot be a reason for the EU to go soft on Baku,” says scholar Thomas de Waal.
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Iranian paper warns Azerbaijan of ‘changes in Baku’ if it presses home advantage against Armenia
Iran says it will take action against any attempt by Turkey and Azerbaijan to try to create a land bridge between the two countries across Armenia’s Syunik region next to the Iranian border.
Aliyev and Erdogan look set to insist on land bridge across Armenia linking Azerbaijan and Turkey
Two presidents pointedly meet in key Azerbaijani exclave of Nakhchivan as they look to press home advantage won by quick success of Baku’s Karabakh offensive.
Earth’s energy imbalance – world is starting to cook
The earth’s energy is out of balance and the world is starting to cook, says a new report. The authors include James Hansen, who testified to the US Congress on global heating as long ago as 1988.
Turkey’s economic mess could prove too big even for assembled 'A-Team' to handle, warns veteran analyst
“Unwinding all the financial alchemy” put in place by predecessors a mammoth task and IMF “bazooka” might be required, says Timothy Ash.
Turkey takes benchmark to 30% with 500bp rate hike
Erdogan’s new economic team keep pushing lines about capital flooding into country, but the evidence for that is not there.
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Climate change made Libyan deluge up to 50 times more likely, say weather researchers
An “interplay” of climate change exacerbated heavy rainfall during the first two weeks of September 2023 in several countries across the Mediterranean, caused by low-pressure systems forming around a blocking high centred over the Netherlands.
Planet’s health is in danger zone
Six of nine key planetary ‘health boundaries’ have been crossed, said researchers in a new report.
Turkey not ready to ratify Sweden’s Nato bid says Erdogan
Strongman takes combative approach during trip to New York for UN General Assembly. Rebukes US journalist who quizzes him on human rights.
Data search reveals coal produced in annexed parts of Ukraine shipped to Turkey
Finding comes week after US stepped up sanctions targeted at Turkish companies for circumventing war restrictions on goods flows to Russia.
Masked Turkish intelligence agents accused of abducting businessman in Tajikistan
Koray Vural snatched while on his way to work. Incident follows grabbing of Orhan Inandi in Kyrgyzstan two years ago. Like Inandi, Vural is linked to Gulen movement that denies Ankara’s claims it plotted coup attempt.
Swedish police source accuses Turkey of leaking high-level intelligence to drug gang
Country’s extradition refusals, scandalous wealth amnesty laws and cocaine trafficking boom also raising alarm.
Erdogan asks Musk for Tesla gigafactory during meeting in New York
Also offers entrepreneur cooperation in artificial intelligence and Starlink satellite internet services.
Erdogan says Ankara could part ways with EU
Remark comes against a background of frustration in his administration over India-Middle East-Europe trade corridor plan that entirely shuts out Turkey.