Turkey

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.

Turkish textile companies want even weaker lira

bne IntelIiNews November 9, 2022

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

Will Conroy in Prague November 7, 2022

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

Richard Lockhart in Edinburgh November 5, 2022

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

Akin Nazli in Belgrade November 3, 2022

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

by Roberta Harrington in London November 2, 2022

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

bne IntelIiNews November 2, 2022

One Turkish bank said to expect third of international lenders to drop out of loans.

Russia rejoins grain deal after threatening to pull out

Dominic Culverwell in Berlin November 2, 2022

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?

Dominic Culverwell in Berlin November 2, 2022

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

bne IntelIiNews November 1, 2022

"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

bne IntelIiNews October 31, 2022

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

bne IntelliNews October 31, 2022

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.

Erdogan unveils the Togg, first made-in-Turkey EV

bne IntelIiNews October 31, 2022

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.

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