Editorial Team

In the most dramatic leadership overhaul at the armed forces pension fund since the 2016 coup attempt, retired Lt. Gen. Zekai Aksakallı—a key figure in thwarting the coup—has been named chairman of the giant fund.

As requested by MHP Chair Devlet Bahçeli, artist Ali Kınık composed a folk song on the theme of brotherhood to celebrate the Terror-free Turkey process.

Ahead of renewed hopes for a peace process, Sözcü — known for its opposition stance — has stirred controversy with successive headlines alleging the mass release of PKK-linked prisoners. The Justice Ministry has twice rejected the newspaper’s reports, which first claimed 200 prisoners had been released and later suggested an additional 700 would follow.

The government's push for austerity in the public sector has failed to deliver results. Despite promises to cut costs—particularly through the disposal of surplus vehicles—public institutions spent 161.2 million lira on new vehicle purchases in the first half of 2024, while generating just 5.1 million lira in sales.

Enis Güçlü Şirin, the trustee appointed to İmamoğlu İnşaat—the family business of Istanbul Mayor Ekrem İmamoğlu—holds positions on the boards of more than 20 other companies. All the firms where Şirin serves are under the administration of Turkey’s Savings Deposit Insurance Fund (TMSF) which operates firms that have been seized by the state often because of bankruptcy, tax debts, or links to the Gülenist movement.

The Syrian government has requested support from Turkey to strengthen the country's defense capabilities and fight terrorist organizations, particularly Islamic State, the Defense Ministry said.

The arithmetic in the Turkish Parliament is shifting rapidly, as party defections mount. Since the May 2023 elections, 35 lawmakers have resigned from their parties, significantly altering the composition of parliament. The İYİ Party has shrunk from 43 to 29 MPs; DEVA has dropped from 15 to 9; and Gelecek from 10 to 4. Of the defectors, 11 joined the AKP and 10 moved to the CHP. Fourteen now sit as independents.

The AKP and MHP are gearing up to promote the “Terror-free Turkey” initiative on the ground, while the İYİ Party prepares a counter-move.

The Central Bank lowered its one-week repo rate from 46% to 43% on July 24, despite warning signs that inflation pressures persist. This was the first cut following the April rate hike. The Monetary Policy Committee also reduced the overnight lending rate from 49% to 46% and the overnight borrowing rate from 44.5% to 41.5%. While June’s core inflation trend remained unchanged, preliminary indicators pointed to a temporary rise in July inflation due to month-specific factors.

After a decision to terminate the 1973 crude oil pipeline agreement with Iraq as of July 27, 2026, Turkey started negotiations with the Iraqi central government for a more comprehensive agreement on the transportation of Iraqi oil. The move is not a withdrawal from the partnership but a strategic reset. Under the 1973 agreement and its supplementary protocols, either party must notify the other at least one year before expiry if it intends to terminate the deal. If no such notice is given, the contract automatically renews for five years. Turkey has now officially informed Iraq of its intent to withdraw, preventing automatic renewal and opening space for renegotiation.