FUND CRISIS HITS MARKETS
The Borsa Istanbul’s benchmark BIST 100 index entered a technical bear market at the end of September, marking its worst monthly performance since the 2008 global financial crisis.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
GOVERNMENT PREPARES REGULATORY OVERHAUL
The government is preparing comprehensive reforms across its financial regulatory bodies following the massive investment fund crisis that shook domestic markets.
MONEY, SECOND-GENERATION AKP POLITICIANS, AND FATMA BETÜL SAYAN KAYA
Fatma Betül Sayan Kaya is a politician who has figured prominently in the latest investment fund scandal. She and her husband made staggering sums from funds in a very short time.
A GÜRLEK-FIDAN CLASH BEHIND THE FUND CRISIS?
Speculation is growing that the long-delayed crackdown on the fund crisis is tied to a power struggle in the AKP that includes Justice Minister Akın Gürlek and Foreign Minister Hakan Fidan.
A SLOW-MOTION FINANCIAL CRASH AND WARNINGS TURKEY IGNORED FUELS SPECULATIONS ABOUT ŞİMŞEK
For over a week, a single issue was on Turkey’s agenda: What happened to the money in the funds? Finance Minister Mehmet Şimşek, who had stayed silent on the crisis since it began and faced growing speculation that he would be fired, broke his silence on Sept. 24 to deny that he was leaving.
SAUDI ARAMCO INSPECTS OYAK’S FUEL NETWORK TO ENTER TURKISH MARKET
Saudi Aramco executives have inspected fuel facilities across Turkey owned by military pension fund OYAK, signaling advanced partnership talks to enter the retail fuel market.
FUND CRISIS HAMMERS MARKETS, SPARKS INTERVENTION
The central bank and other regulator bodies stepped in to stabilize financial markets after alleged market manipulation, fraud and fund mismanagement sparked a major equity sell-off and corporate defaults.
GOVERNMENT CONSIDERS 10% TAX ON CORPORATE MONEY MARKET FUNDS
The Finance Ministry has finalized preliminary work to redirect short-term capital inflows toward long-term, productive investments, according to a report by Bloomberg HT.
CENTRAL BANK RESUMES REPO AUCTIONS, DE FACTO RATE CUT
The central bank has resumed one-week repo auctions after a nearly six-month pause, an operational shift that effectively lowers market funding costs and paves the way for official policy rate cuts.
ANKARA HEADED TO A LOBBYING FIRM CLOSE TO TRUMP
The Defense Ministry has signed a contract with a lobbying firm headed by Brian Ballard, one of Trump’s leading fundraisers in Florida.
CONFISCATION ECONOMY: THE PURGE THAT PAYS
Ten years after the failed coup, the crackdown on Gülenist-owned businesses has become a revenue stream: the state has collected $1.5 billion from selling off seized firms — and the state fund managing them has grown into one of the country's largest conglomerates, its reach now extending far beyond the Gülenists.
TEN YEARS ON, JULY 15 IS STILL AN OPEN FILE
Ten years after tanks rolled onto the Bosphorus Bridge and F-16s bombed parliament, Turkey marks the anniversary of the failed July 15 coup attempt with a holiday named 'Democracy and National Unity Day' — in a country more polarized, less democratic and no closer to answering the fundamental questions of that night than it was a decade ago.