Turkey
NEMETHY: The cure for high prices is – high prices
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
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
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
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.
Turkish textile companies want even weaker lira
Hit by high inflation, energy and labour costs, manufacturers hope to export away their problems.
Analyst warns more than 100 kamikaze drones in development around world
Warning sounded as Iran for first time admits sending UAVs to Russia. Ukraine’s president describes claim that deliveries were “limited” as lies.
bneGREEN: No fairness but some hope at COP27
COP26 has not delivered so far on the promises made in Glasgow in November 2021, with companies failing to move towards zero emissions pledges and the world as a whole not meeting the targets and aspirations laid down.
Turkey releases official October inflation at 86% y/y
Country stays in sixth place in world inflation league. Critics say economy is mired in stagflation.
bneGREEN: Vestas reins in outlook as inflation and the energy crisis continue
Wind giant Vestas has reduced its financial expectations for the year because of pressures from inflation and the energy crisis that followed Russia’s invasion of Ukraine.
Autumn refinancing shows ‘chickens coming home to roost’ for Turkey’s ‘contrary’ economic policy, says financial journal
One Turkish bank said to expect third of international lenders to drop out of loans.
Russia rejoins grain deal after threatening to pull out
Russia has reversed its recent threats and will resume the Black Sea grain deal just days after suspending its involvement following a strike on its fleet in Crimea.
Ukraine and the West call Moscow's bluff on grain deal suspension, but will Russia retaliate?
Ukraine is continuing to ship grain from its ports despite Moscow threatening to pull out of the Black Sea Grain Initiative after Russian warships were hit in a drone strike last week.
Turkish manufacturing hit by worst slowdown since May 2020 reveals October PMI
"Subdued demand conditions kept the Turkish manufacturing sector on the back foot, with weakness in international demand increasingly to the fore,” says S&P economics director.
US Supreme Court rules plaintiffs can sue Turkey over Erdogan security detail’s 'brutal brawl' with protesters
Anti-Turkish regime activists were badly beaten in 2017 melee that followed talks between Donald Trump and Turkey's strongman leader.
Russia suspends Ukraine grain export deal following “massive” drone attack on Black Sea fleet
Russia has suspended the Istanbul grain deal signed in July that has allowed Ukraine to export its grain around the world, claiming Ukrainian had carried out a “massive” terrorist drone attack on Russia’s Black Sea fleet.
_1667203149.jpg)
Erdogan unveils the Togg, first made-in-Turkey EV
Ahead of elections, president will hope to present car as a Turkish economic success story. But at roughly €50,000, it is unaffordable to most Turks.
