Turkey

Turkish central bank says it’s ended rate-cutting cycle with 150 bp reduction to 9%

Akin Nazli in Belgrade November 24, 2022

Analyst says pre-election pressure could arise for more monetary easing.

Turkey’s Syria airstrikes ‘directly threatened’ US personnel says Washington

bne IntelIiNews November 24, 2022

Erdogan says ground offensive is next. Kurdish groups accuse Ankara of using Istanbul bombing as pretext for military incursion.

Ukraine faces one of worst declines in GDP from a war, says EBRD

Robert Anderson in London November 22, 2022

The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.

EBRD warns of risk of 'zombification'

Robert Anderson in London November 22, 2022

Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.

ASH: Turkey is heading to “incumbent democracy”

Timothy Ash Senior Sovereign Strategist at BlueBay Asset Management in London November 22, 2022

The vision for me of the weekend opening of the World Cup in Qatar was of Turkish President Erdogan warmly welcoming his Egyptian counterpart, Sisi. The two have long been rivals and have very different visions of democracy in the region.

bneGREEN: Climate paralysis at COP27 as no progress made on 1.5 degrees

Richard Lockhart in Edinburgh November 21, 2022

COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.

bneGREEN: COP27: Coal proves a stubborn foe in fight to save climate

Richard Lockhart in Edinburgh November 20, 2022

Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.

Russia’s imports recover as trade pivots to the east

Ben Aris in Berlin November 20, 2022

Russia’s imports crashed after the invasion of Ukraine in February as Western trade partners simply cut supplies to the country off while around 1,000 firms promised to pull out altogether. Now they are recovering fast.

ISTANBUL BLOG: IR crowd await next chapter of Erdogan and Bibi

Akin Nazli in Belgrade November 19, 2022

While old foe Netanyahu was out of office, Turkey’s president restored relations with Israel. But Netanyahu is back.

bneGREEN: COP27 warns business cannot be trusted to police greenwashing

Richard Lockhart in Edinburgh November 18, 2022

The UN has identified greenwashing by business and finance as the biggest danger facing the race to net zero, urging them to avoid a toxic cover-up and to ensure that any climate pledges they keep are in line with the 1.5-degree targets.

Huge relief after Black Sea grain deal extended for 120 days

Dominic Culverwell in London November 17, 2022

The Black Sea Grain Initiative has been extended for another 120 days following a tense few weeks, Interfax Ukraine reported on November 17.

Asia-to-Europe Digital Silk Way investors to lay ‘internet corridor’ across bottom of Caspian Sea

Aida Kadyrzhanova in Almaty November 17, 2022

Fibre-optic lines crucial part of project set to benefit up to 1.8bn people from Frankfurt to Mumbai.

Data shows Turkey undisputed world leader in cryptocurrency trading

Akin Nazli in Belgrade November 16, 2022

Crypto exchange app adoption per 100,000 people highest among Turks, Bank of International Settlements study shows.

ISTANBUL BLOG: Mess of information as officials fail to logically explain bomb attack

Akin Nazli in Belgrade November 15, 2022

Story breaks that ultra-nationalist spoke on phone with bombing suspect. Erdogan officials, meanwhile, point finger at US citing Washington’s connections with Kurdish militants.

Russia expected to extend the Istanbul grain deal as the expiration deadline looms

bne IntelliNews November 15, 2022

Russia is expected to extend the Istanbul grain deal signed in July but due to expire on November 17, after it won concessions on some sanctions and an ammonia pipeline running through Ukraine was turned back on, the FT reported on November 15.

World population hits 8bn. Where do we go from here?

bne IntelIiNews November 15, 2022

Greying of populations big dilemma for developed countries. Share of people on planet aged 65 years or above projected to rise from 10% now to 16% in 2050.

NEMETHY: The cure for high prices is – high prices

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors November 15, 2022

Prices are important economic signals. High prices – whether for energy foodstuffs, etc., are signals to the world to (a) supply more; (b) substitute; or (c) conserve. But how do you bring inflation down?

Kurdish PKK denies role in weekend Istanbul bomb attack

bne IntelIiNews November 15, 2022

Turkish police seize suspected bomber in early morning raid and link her to militants. But group says it would never target civilians.

Bombing in heart of Istanbul kills at least six

bne IntelIiNews November 13, 2022

Attack comes six weeks after suicide attack in Turkish city of Mersin that indicated there would be violence ahead of Turkey’s elections.

bneGREEN: Uberwealthy are the worst climate criminals

Richard Lockhart in Edinburgh November 12, 2022

The investments of the world’s 125 wealthiest people produce the same amount of CO2 as the whole of France, while each of them emits a million times more greenhouse gases than the average person.

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