EBRD chief raises concerns over Turkey’s ‘outlier’ monetary policy

bne IntelIiNews October 9, 2022

Discussions held with finance minister and central bank governor. President Erdogan, however, tells rally next day that under him rates will fall with “each passing day, each passing week, each month.”

Ukraine war leads to traffic jams in Georgia

Nini Gabritchidze for Eurasianet October 7, 2022

International transport routes through Ukraine and Russia have been disrupted, and Georgia has become a popular alternative.

Turkish, Armenian leaders go ahead with first-ever face-to-face meeting

Ani Mejlumyan in Yerevan October 7, 2022

Little evidence of progress in normalising Yerevan-Ankara relations or resolving conflict between Armenia and Azerbaijan following Prague encounter.

Armenia’s Pashinyan, Turkey’s Erdogan set for unprecedented face-to-face Prague meeting

Ani Mejlumyan in Yerevan October 6, 2022

Encounter is “huge” says analyst. However, hopes for a breakthrough in resolving Armenia-Azerbaijan conflict are low.

NEMETHY: Is the world heading towards a “polycrisis”?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors October 5, 2022

According to historian Adam Tooze, we are currently potentially facing a “polycrisis”: a number of smaller to medium-sized crises in the world that have the potential to combine and reinforce each other.

S&P sees ‘bleak’ prospects for Turkish manufacturing after assessing latest PMI data

bne IntelIiNews October 3, 2022

Demand conditions home and abroad, notably in Europe, “challenging”, September survey shows.

ISTANBUL BLOG: Suicide attack in Turkey awakens ghosts that promise violence ahead of elections

Akin Nazli in Belgrade October 3, 2022

President Erdogan will soon come to accept he’s already lost at the ballot box. But he won’t accept that it’s all over. Watch closely.

Turkish official inflation calculated at 83% y/y for September

Akin Nazli in Belgrade October 3, 2022

ENAG researchers contend rate was 186% y/y in reality.

Might Trussonomics be a branch of Erdoganomics?

bne IntelIiNews September 30, 2022

Turkish expat who fled collapse of lira to London alarmed by Liz Truss’ self-inflicted blow to UK economy.

Report says Russian gas supplies to Europe via TurkStream now endangered

bne IntelIiNews September 29, 2022

Gazprom unit that operates pipeline said to be withdrawing all technical support.

Turkish state banks follow private lenders in freezing use of Russia’s Mir payment system

bne IntelIiNews September 28, 2022

Erdogan backed use of Russian Visa-equivalent after meeting with Putin. US reacted by stepping up pressure on Turkey over sanctions enforcement.

ISTANBUL BLOG: Turkish officials attempt to slake thirst for FX with visit to MbS

Akin Nazli in Belgrade September 26, 2022

Turkey’s Erdogan administration again spooked by the lurching lira. Small matter of Jamal Khashoggi appears to be ancient history.

ISTANBUL BLOG: To those jimmying the lid of Turkey’s stock market, hold your nose

Akin Nazli in Belgrade September 22, 2022

Banking stocks rose to wacky heights, then collapsed. Fed governor Jerome Powell got the blame. Only an oaf would buy that story.

Analysts wrong again as 'unorthodox' Turkey cuts rates another 100 bp

Akin Nazli in Belgrade September 22, 2022

Benchmark now 12% versus official inflation of 80.2%. Lira continues to sink.

DATACRUNCH: Europe's energy crisis in charts

Ben Aris in Berlin September 22, 2022

Russian President Vladimir Putin's two most powerful weapons in his conflict with the West are inflation and power prices.

Two Turkish banks suspend use of Russian Mir cards amid US sanctions pressure

Akin Nazli in Belgrade September 19, 2022

Isbank and Denizbank drop service. In recent days, Washington has cranked up pressure on Turkey over intensifying economic cooperation with Russia.

PANNIER: Putin arrived with little to offer an SCO summit that showed no real clout

Bruce Pannier in Prague September 18, 2022

Disparate interests of organisation’s member nations meant many major issues of the day could not even be discussed. But there was only one dominant member: China.

ISTANBUL BLOG: Turkey’s $24bn question

bne IntelIiNews September 16, 2022

Mystery sum helping to finance chronic current account deficit could be linked to ‘wealth amnesties’ allowing crime proceeds into banking system.

Nuclear power's share dropped to record low in OECD, but solar jumped to record highs thanks to hot summer

bne IntelliNews September 16, 2022

Germany’s decision to take its nuclear power plants offline, coupled with production problems with France’s NPPs, saw the share of nuclear power in the OECD countries year to date fall to its lowest level ever, but solar boomed.

Rising Turkey, Greece tensions part of ‘election agenda’ half of Turks tell pollster

bne IntelIiNews September 14, 2022

Survey conducted after Athens last week warned that strongman Erdogan could ignite a second European war in the Aegean.