Turkey
ISTANBUL BLOG: “Dog bites man” story as Erdogan arrests more mayors, but there’s more here than meets the eye
Two issues to watch: shape-shifting opposition politician Imamoglu and sad sight of boomers failing to solve Kurdish question.
Turkey's Erdogan threatens to "cut off heads" of terrorist groups in Syria
Turkish President Recep Tayyip Erdogan has threatened military action against militant groups in Syria, particularly Kurds, unless they lay down their arms and disband.
Turkish issuers sell record $33bn of eurobonds in 2024
Total of 28 sellers included nine making market debuts. For sales, Treasury ranked first, raising $13bn via five papers.
Russia’s Rosatom plans legal action over non-delivery of Siemens Energy parts for Turkey’s first nuclear plant
Germany's refusal to budge on issue forced Moscow to turn to China for required equipment.
34 companies raise 60bn lira via Istanbul IPOs in 2024
Average deal size TRY 1.75bn and average size of stakes sold 24%. Most companies issued privileged shares to favour owners.
EBRD delivers 26% expansion in investments in 2024, commits record €16.6bn across economies
Lender notes strong momentum in green and gender financing, in parallel with steadfast support for Ukraine and its real economy.
Cost of repairing Syria’s power infrastructure put at $40bn by electricity minister
Production facilities, transmission points, high voltage lines and distribution networks “ruined”, he says.
Putin seizes Russia beer market JV of Brussels-listed AB InBev and Istanbul-listed Efes
Kremlin rejects Belgian and Turkish partners’ plan to in face of sanctions swap Russia and Ukraine stakes.
OUTLOOK: Turkey 2025
What is in store for Turkey in 2025? bne IntelliNews’ annual OUTLOOK: Turkey 2025
Seoul-listed DoubleU acquires 60% stake in Turkey’s Paxie Games for $27mn
Seoul-listed DoubleU acquires 60% stake in Turkey’s Paxie Games for $27mn. Some 844 active gaming studios recorded in Turkey by end of 2024.
Risk of Israel-Turkey war in new Syria assessed by Israeli government commission
Turks could even come to pose greater threat to Israel than Iranians did, warns panel headed by ex-national security chief.
Turkish textile maker Akin Tekstil fires 152 on negative impacts of real lira appreciation
Extension of “forbearance measures”, meanwhile, will keep Turkey’s “zombie” companies on feet at least until end of 2025.
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Turkey-Iran border dispute escalates over new fuel tax
Turkey’s recent decision to end a long-standing tax exemption on fuel for Iranian transit trucks has triggered a major backlog at the Bazargan border crossing and left some 300 trucks stranded daily in harsh winter conditions.
Cost of producing one Turkish lira coin surpasses three lira
Embarrassments caused by depleted currency include public toilet fee only kept at one lira thanks to two-lira subsidy.
Tajik “terrorist” reportedly appointed Syrian defence ministry operational HQ chief
Sayfiddin Tajibayev’s jihadist group fought in offensive that toppled Assad.
Bangladesh explores tank purchase from Turkey as India receives request for Hasina’s extradition
Bangladesh has initiated talks with Turkey’s Otokar Otomotiv ve Savunma Sanayi A.S. to procure 26 light tanks, with delivery expected in 2025
Turkey’s 44% y/y official end-2024 inflation release suggests another 250bp rate cut in late January
Independent economists' research group, however, measures inflation at 83% y/y.
Turkish manufacturing nearing stabilisation, PMI shows
December moderation least pronounced in eight months.
Russia seeks to expand its nuclear energy dominance with new international projects
Russia is constructing over 10 nuclear power units on foreign soil to help capitalise on burgeoning energy demands driven by artificial intelligence and developing markets, a senior Kremlin envoy has revealed