Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
For nearly half a million retail investors caught in Turkey’s worst financial storm in years, compensation has finally begun to flow. But the first cash distributions came as the fallout spread beyond Turkey’s borders: global index provider MSCI froze index changes for Turkish equities on Oct. 15 and warned of a possible downgrade, while prosecutors broadened their probes and lawmakers scrambled to pass emergency legislation.
Halk TV has been seized. Its broadcasts have been suspended. In effect, this means shutting the channel down. You might ask: “Why seize a television channel like this? We no longer live in the era of a single broadcaster. People can watch whichever channel they want. If they don’t like it, they can switch it off.” But is it really that simple? No.
Turkish defense industry companies continued testing its newly developed products, such as Morfoz and Gökalp.
In one of the country’s largest financial scandals, payments to victimized fund investors began and priority will be given to small investors, according to statements from officials.
“Flowers bloom on the mountains of Izmir / The golden sun scatters gold thread there / The routed enemies all flee like the wind / Long live Mustafa Kemal Pasha, long live! Your name will be inscribed on a jeweled stone.”
Izmir Metropolitan Mayor Cemil Tugay’s decision to join the AKP caused a major stir, bitter disappointment, and protests. After all, Izmir has long been regarded as a stronghold of left-wing politics. In fact, the city can be analyzed as “a city with center-right leanings that consistently votes for left-wing social democrats because of its opposition to the AKP.”
Fresh judicial action hit opposition-run municipalities on Oct. 1, the day parliament reopened. Mersin Metropolitan Mayor Vahap Seçer, Yenişehir Mayor Abdullah Özyiğit and Mezitli Mayor Ahmet Serkan Tuncer were among 59 people detained.
An Istanbul court ordered the continued detention of Istanbul Mayor Ekrem İmamoğlu, campaign director Necati Özkan, journalist Merdan Yanardağ, and businessperson Hüseyin Gün during the latest hearing in their political espionage trial.
MHP Chair Devlet Bahçeli brought together Sedat Şahin and Burhanettin Saral at the party's Ankara headquarters on Sept. 26, ending a feud of more than 20 years.
The global umbrella of social democratic parties, Socialist International, suspended the CHP under its court-appointed leadership and admitted Özgür Özel's Yeni Party as a full member.
Foreign and domestic infrastructure companies are showing interest in the upcoming highway and Bosphorus bridge privatizations. French operator Egis is reportedly emerging as a leading contender for the 30-year operating rights.
Rising labor and production costs are forcing Turkish apparel manufacturers to seek new low-cost hubs, turning to Syria and Uzbekistan after previously expanding into Egypt.