ELECTRONICS GIANT VESTEL IN SEVERE FINANCIAL DISTRESS
Electronics and home appliances exporter Vestel Elektronik faces growing financial pressure as Moody’s cut its long-term rating and warned of a very high risk of default.
Analysis
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Electronics and home appliances exporter Vestel Elektronik faces growing financial pressure as Moody’s cut its long-term rating and warned of a very high risk of default.
Scores of journalists, activists, and politicians gathered outside the Constitutional Court Oct. 7 to protest censorship of social media accounts.
“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.”
The government is seeking to create the impression that it is cutting ties with those involved in the stock market scandal and has launched an investigation, announcing that up to a million liras of losses will be repaid to investors soon. But the opposition calls it the 'corruption of the century' and is seeking a parliamentary inquiry.
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.
Can Atalay, stripped of his parliamentary seat and held in prison since 2022, began a hunger strike as parliament reconvened on Oct. 1, while the main opposition Yeni Party walked out when President Recep Tayyip Erdoğan took the floor during the opening speech.
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.
A judicial investigation has spread to top-tier football referees, leading to the detention of Central Referee Committee (MHK) Chair Ferhat Gündoğdu and six other officials.
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.
Ali Şekeroğlu, 60, took his own life outside the Constitutional Court while demanding a pay raise for retirees on Sept. 25. Şekeroğlu died by suicide with his own weapon.
The Parliamentary Assembly of the Council of Europe (PACE) adopted a resolution on Oct. 1 condemning what it called a coordinated campaign against LGBTQ+ people and rights defenders in Turkey.