Turkey

Ukraine conflict will trigger recessions across CEE, says Capital Economics

bne IntelliNews April 21, 2022

Russian GDP forecast to slump 12% in 2022, while Ukraine's GDP will halve. Bulgaria, Slovakia and the Baltic states will have two quarters of negative growth.

Erdogan opponent taunts president over his failed ‘Vision 2023’

bne IntelIiNews April 20, 2022

“What did you promise for 2023? With eight months to 2023, our nation in today’s Turkey waits in line for bread and butter and buys tomatoes and peppers piece by piece,” says IYI party leader Aksener.

ISTANBUL BLOG: Central bank trots out policy rate hold as inflation gallops into the distance

Akin Nazli in Belgrade April 14, 2022

‘Erdoganomic’ net lira creation via loans is again beyond the pale, rising to a new all-time high.

Turkey moving to jail researchers who publish unapproved economic data

bne IntelIiNews April 14, 2022

Istanbul’s ENAG, which argues inflation stands at 143% not 61%, a particular thorn in side of Erdogan administration with country now in election mode.

Turkish ministries ‘creating charter airline to exclusively transport Russian tourists to resorts’

bne IntelIiNews April 11, 2022

Ankara going to great lengths to avoid taking too much of a tourism hit from Ukraine war. Turkey has imposed no sanctions on Moscow.

Biden administration tells Congress potential sale of F-16 jets to Turkey in US national security interests

bne IntelIiNews April 6, 2022

Ankara wants the aircraft given US block on F-35s sale in response to Turkish purchase of Russian missile systems.

bneGREEN: Rich countries must cut oil and gas output 74% to ensure fair transition

Richard Lockhart in Edinburgh April 5, 2022

Rich countries must reduce oil and gas output by 74% by 2030 and fully by 2034 in order to keep the world on track for 1.5°C and give poorer oil-reliant countries longer to replace their income from fossil fuel production.

ISTANBUL BLOG: Inflation sleuths say Turkey now just a touch short of 150%

Akin Nazli in Belgrade April 4, 2022

Official rate for March given as 61%. If the lira crashes again and commodity prices go right off the rails, country will sail through four-digit inflation.

bneGREEN: Wind growth needs to quadruple to meet net-zero goals

By Richard Lockhart in Edinburgh April 4, 2022

The global wind industry posted its second-best year ever in 2021, posting 12% growth and adding 93.6 GW of new capacity onshore and offshore, bringing the global fleet to 837 GW.

Turkey's manufacturing PMI falls into negative territory for first time in 10 months

bne IntelIiNews April 3, 2022

Effects of Ukraine war combine with exising ills.

ISTANBUL BLOG: Indications Saudi ruler MbS wants end of Khashoggi trial as pre-requisite for Erdogan meeting

Akin Nazli in Belgrade March 31, 2022

A Turkish prosecutor has asked for the dismissal of charges filed in relation to the assassination of journalist by a Saudi hit squad.

EBRD slashes 2022 growth forecasts but only nations embroiled in war to enter recession

Clare Nuttall in Glasgow March 31, 2022

Ukraine's economy forecast to contract by 20% and projections worsen across emerging Europe — except for Eurasian oil and gas producers Azerbaijan and Turkmenistan.

Turkish economic crisis could exceed 2001 catastrophe says ex-IMF chief economist Rogoff

bne IntelIiNews March 29, 2022

Comments come after economist warned spread of a lack of confidence to Turkey's banking and financial system could trigger “major systemic crisis”.

Ireland's Avolon and Turkey's Gozen to pioneer 'flying taxi' services in heavily congested Istanbul

bne IntelIiNews March 29, 2022

Avolon among launch customers for up to 1,000 zero-emission electrical vertical takeoff and landing (eVTOL) aircraft being developed by New York-listed Vertical Aerospace.

Russia to “drastically reduce” forces around Kyiv in Istanbul peace talks breakthrough

Ben Aris in Berlin March 29, 2022

Russia has decided to "drastically reduce combat operations" around the capital Kyiv and the northern city of Chernihiv, its deputy defence minister said in a breakthrough during peace talks being held in Istanbul on March 29.

Limak and Mapa ‘selling Istanbul Airport stakes to partners Kalyon and Cengiz’

Akin Nazli in Belgrade March 29, 2022

Mega airport is PPP project. Erdogan administration has provided $153bn in income guarantees to PPP projects. Not one is self-financing to date.

Concern Turkey becoming Russia sanctions evasion haven 'growing in Europe'

bne IntelIiNews March 25, 2022

Top Erdogan aide says Ankara won't consider sending S-400 missiles to Ukraine unless US lifts block on F-35 jet deliveries and sends Turkey Patriot batteries.

LONG READ: Winners and losers from the war in Ukraine (and Russia has already lost, even if it wins)

Ben Aris in Berlin March 16, 2022

Russia loses from war in Ukraine, even if it wins. China wins from the war irrespective of whether Russia wins or loses. The US also wins from both a Russian victory and a defeat, but its win is less if Russia wins. Everyone else loses.

IMF: War-fueled surge in food prices to hit poorer nations hardest

Andrea Pescatori and Ervin Prifti March 16, 2022

Global food prices are poised to keep climbing even after jumping to a record in February, placing the heaviest burden on vulnerable populations while adding to headwinds for the global economic recovery.

bnePodcast: Energy shock – in the economic war Fortress Russia has no ammunition

bne IntelliNews March 13, 2022

In the long term Russia will be reduced to a raw material exporter that has to export regardless of price because they need the cash, argues Christof Rühl.

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