Turkey
Renault production halted at Turkey plant on chip shortages
Country’s automakers have suffered output disruptions caused by global lack of semiconductors for more than a year and a half.
GUSTAFSON: Russian oil exports – are sanctions working?
Six months after the beginning of the Russian invasion, the “Devil’s Dance” of Western sanctions and Russian oil exports and revenues has barely begun. The main contest still lies ahead.
Turkey takes top spot for most expensive iPhones in the world
Country leapfrogs Brazil with the launch of the iPhone 14 models, with the Erdogan administration’s indirect taxes meaning the consumer must pay at least $1,700 for one of the latest-generation smartphones.
IMF: How food and energy are driving the global inflation surge
Global inflation was generally moderating when the pandemic began, and the downward trend continued into the early months of the crisis. But surging prices since late 2020 have pushed inflation higher than in all of the last five years combined.
ING: Back to the 80s? What soaring inflation, US rate hikes and a stronger dollar mean for EM sovereign debt
Soaring inflation, rate hikes and a stronger dollar are reminiscent of the early 1980s – a decade that brought a wave of EM sovereign debt crises. This year has already seen Sri Lanka default, hit by an external liquidity crisis.
BALKAN BLOG: What Turkey’s Erdogan can offer the Western Balkans
President Erdogan offers Turkey’s support to resolve critical situations that threaten stability in the Western Balkans, but what can Ankara achieve in the region?
ING: ECB hikes by a historic 75bp, more hikes in the works
The European Central Bank has decided on the largest rate hike since the start of the monetary union and has given the impression that it is fully determined to do more on September 7.
Greece warns West Erdogan could ignite second European war in Aegean
Strongman issued menacing veiled threat to Athens, saying Turkey could "come all of a sudden one night". Analysts wonder how far he could go in an election year.
Turkmenistan: Thank you for your service deferral
Closing an exit route. Plus: solicitous Russians and electricity exports. Eurasianet’s weekly Turkmenistan briefing.
Yields on Turkey’s eurobond and lira papers almost draw level
Potentially explosive anomalies caused by the Erdogan administration’s curious economic policies continue to manifest.
Turkey’s official inflation rate inches past 80% y/y in August, ENAG calculates 181% y/y
Country stays in sixth place in global inflation league.
NEMETHY: Demographics and Cost of Capital
While there are short-term fluctuations in interest rates caused by economic circumstances and central bank policies, there are also long-term structural trends affecting interest rates.
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How much Azeri gas can head to Europe?
Europe has approached Azerbaijan as a source of additional gas to eliminate more Russian imports. But how much extra gas the country may provide, beyond the 10 bcm per year it is already sending, will depend on exploration results and Turkish assent.
Erdogan regime protests ‘fake news’ after Reuters probes Turkey’s muzzled media
Investigation finds directions to newsrooms “often come from officials in the government’s Directorate of Communications”.
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PMI shows Turkish manufacturing in August hindered by lack of new orders, softening demand in Europe
Survey shows clearly challenging market conditions, with weakness in both domestic and export markets.
Exiled editor warns of fear, loathing and wishful thinking in Turkey ahead of Erdogan fight for survival
Those who want to see the back of Turkey’s president of two decades at the polls risk “underestimating the skills of a political animal”, says Yavuz Baydar.
ISTANBUL BLOG: Borsa Istanbul undressed by mobster ‘influencer’ The Botox
Fugitive former mafia boss, who’s been struggling for scoops, has got his cat back among the pigeons.
Turkish finance minister says it's ‘meaningless’ to worry over US warning on business with sanctioned Russia
Turkey has made gains in areas including trade, tourism and real estate and has doubled imports of Russian oil since declining to join sanctions response to Ukraine invasion.
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Diesel fuel prices in Turkey climbing again
In Istanbul, diesel up 258% y/y and gasoline higher by 173% y/y.
bneGREEN: Europe’s once-in-500-year drought threatens energy, food security
Europe is facing its worst drought for 500 years, as the European Commission has warned that nearly half of the EU’s territory faces severe water shortages in August, as climate change has caused low rainfall levels and record-high temperatures.
