Turkey

bneGREEN: Meeting 1.5 °C could cost $75 trillion by 2050

By Richard Lockhart in Edinburgh January 28, 2022

Limiting global warming to 1.5 °C could reduce global GDP by 2%, or $75 trillion, by 2050 as spending must increase to accelerate the energy transition.

Academic group that publishes alternative Turkish inflation data faces court action that could close it down

bne IntelIiNews January 27, 2022

Officials angered by ENAG’s 'rival' figures amid economic crisis. Group says end-2021 inflation in Turkey was 83%. Official statisticians calculated 36%.

wiiw slashes Emerging Europe growth forecasts for 2022 and 2023

bne IntelliNews January 27, 2022

Turkish growth is expected to slow to 3.5% this year, from a forecast 9.5% in 2021, while for Russia, GDP growth is forecast to slow to 2% from 4.5%.

Emerging Europe M&A soars by 55% to €94bn in 2021

bne IntelliNews January 26, 2022

Dealmaking returns to pre-pandemic levels as confidence recovers and low interest rates and big cash piles push up valuations.

NEMETHY: Is monetary tightening the cure for inflation?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors January 26, 2022

The US Fed has not increased interest rates, just talked of increasing rates – not even by that much — and global stock exchanges lost $4.2 trillion in week. How can the Fed kill off the current high inflation without crashing the economy?

Turkey exempts pharma, meat and milk industries from gas cuts but country's energy crisis snowballing

Akin Nazli in Belgrade January 24, 2022

Rolling power restrictions applied to factories. Situation worse than what was seen during Turkish balance of payments crisis at end of 1970s.

ISTANBUL BLOG: Erdogan holds rates. Don’t get excited

Akin Nazli in Belgrade January 20, 2022

The devil remains in the detail. Regime is not simply weak in the economics, it is also cold to the accounting.

RIMMER: Turkey - Let nothing astonish you

Julian Rimmer in London January 18, 2022

Given the regularity with which they manifest, it’s astonishing the Turkish language has no phrase equivalent to ‘nightmare scenario’. They should think about coining one, sooner rather than later, though, because another one is looming.

BlackRock catches Turkish gaming fever as Dream and Spyke announce spectacular deals

Akin Nazli in Belgrade January 18, 2022

Istanbul’s mobile games developer Dream Games raises $255mn in Series C funding round, which valued enterprise at $2.75bn. Largest asset manager in the world joined the investors.

Mocked as the ‘Nebati Comet’, Turkey’s finance minister is accused of baffling the markets

bne IntelIiNews January 17, 2022

Interviewer who asked Erdogan loyalist to put a number on an economic target is told, "Can you look into my eyes? What do you see?... The economy is the sparkle in the eyes."

Turkey-Armenia talks seen as key to opening up regional transit links

Neil Hauer in Yerevan, Javid Agha in Baku January 13, 2022

Yerevan will not countenance the adoption by Ankara of any of Baku’s hardline demands as a necessity for any opening of the border.

Erdogan’s popularity rating sinks amid Turkey’s economic turmoil

bne IntelIiNews January 12, 2022

Poll also shows three potential presidential rivals more admired than ruler of 19 years.

bneGREEN: NDCs need to be rapidly improved to get near 1.5°C target

Richard Lockhart in Edinburgh January 12, 2022

Current Nationally Determined Contributions (NDCs) are nowhere near enough to keep global warming within the 1.5°C target

OUTLOOK: 2022 Turkey

Akin Nazli in Belgrade January 4, 2022

Nation has entered another phase in its ongoing collapse in all fields.

PMI data shows Turkey’s manufacturing hit by intense inflationary pressure in December

bne IntelIiNews January 3, 2022

Sector suffers record rises in input costs and selling prices.

Turkey ‘heading for three-digit inflation’

Akin Nazli in Belgrade January 3, 2022

Official end-of-year measure shows 36% but unofficial assessment calculates 83% amid country’s economic crisis.

ISTANBUL BLOG: Lira through the looking glass

Akin Nazli January 2, 2022

Erdogan goes through contortions in attempt to stop currency depreciation without introducing a rate hike. There are now even worries his latest moves could spark a bank run.

Erdogan follows latest ‘unbelievable’ rate cut with 50% boost to Turkey’s minimum wage

bne IntelIiNews December 17, 2021

Analysts warn that amid lira crisis move to hike Turks’ earnings could add to rampant inflation. Market fears hyperinflation will take hold.

ISTANBUL BLOG: Don’t bet for or against another rate hike in early 2022. Leave it to Erdogan

Akin Nazli December 16, 2021

Finance industry just cannot come to terms with the fact that there is a strongman at the helm running an economic experiment conventional economists have described as outright lunacy.

Academic close to Erdogan says Turkey should prepare for state of emergency due to economic crisis

bne IntelIiNews December 16, 2021

Professor walks back comments but fears circulate that move could be made to prepare for a sudden and unjust snap election.

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