Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Selling pressure intensified on Istanbul’s stock exchange today following a court ruling of "absolute nullity" regarding the main opposition CHP congress. The benchmark BIST 100 index plunged over 6%, triggering a market-wide circuit breaker. The banking index took an even heavier hit, dropping more than 8% to close at 13,163 points.
There is no clear timeline for progress in the Kurdish process despite the post-Ramadan Bayram and April expectations on both sides.
Developments in Syria are emerging as a potential block to Turkey’s push for Kurdish peace. With the March 10 Agreement between the Syrian Democratic Forces (SDF) and Damascus nearing its implementation deadline, Ankara is increasing pressure for compliance.
The parliamentary commission tasked with advancing the new peace process between the PKK and Turkey is heading toward a landmark meeting on Nov. 21, when it is expected to decide whether to visit Abdullah Öcalan on İmralı Island, where he has been serving a life sentence since 1999. Although the outcome in the 51-member body initially appeared certain — with the AKP, MHP, DEM, TİP and EMEP signaling support for the visit — shifting political dynamics have pushed discussions toward avoiding a formal vote altogether, according to last-minute reports ahead of the meeting. The move is seen as a way to ease pressure on parties — particularly the AKP and CHP, both facing internal sensitivities — even though initial reports had suggested the commission would hold a vote on whether to visit Öcalan.
The pressure is mounting on Istanbul Mayor Ekrem İmamoğlu and his party CHP, with investigations about the corruption allegations now extending to his immediate family and allied journalists, as CHP Chair Özgür Özel tries to challenge the government by divulging the misdoings of Istanbul Chief Prosecutor Akın Gürlek.
The brief respite after a court rejected a bid to unseat main opposition CHP Chair Özgür Özel and annul the party’s 2023 congress has now given way to a widening espionage probe. Istanbul Mayor Ekrem İmamoğlu and his campaign director Necati Özkan were rearrested on espionage charges, while a trustee was appointed to TELE1 television channel and its editor-in-chief, Merdan Yanardağ, was also taken into custody on Oct. 24.
The central bank kept its benchmark policy rate unchanged at 37% on April 22, meeting the expectations of most analysts. The decision comes following intensified criticism of both the bank and Finance Minister Mehmet Şimşek, 59, from the business world and media outlets close to the government.
The reopening of a six-year-old cold case involving a missing university student has reignited the main opposition’s anger towards Justice Minister Akın Gürlek, as the recent reports show then–Tunceli governor Tuncay Sonel played a critical role in covering up the case of the missing young woman Gülistan Doku.
A series of legal operations targeting CHP-run municipalities intensified on April 9 as CHP Chair Özgür Özel repeated calls for a by-election.
Gendarmes arrested CHP’s Bolu Mayor Tanju Özcan March 2, just as the party was bracing for the trial on corruption allegations concerning the Istanbul Municipality.
The television drama industry is facing an unprecedented crisis as soaring inflation and domestic regulatory pressures threaten its global standing, alongside suppressive measures, including the detention of manager Ayşe Barım and the ongoing detentions in a drug and prostitution case that has labeled many figures from the sector.
January inflation came in higher than expected, raising concerns that price pressures remain stubbornly high and that progress toward the government’s disinflation targets is faltering.