Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
“The European Union will open its vast economy to countries waiting to join its ranks, provided they agree to stand with the bloc against hostile states and industrial rivals, according to a draft European Commission proposal obtained by POLITICO.”
In December of last year, the Chinese carmaker SWM Motors began production in Eskişehir, with ambitious plans. Annual production of 20,000 to 25,000 vehicles was to grow substantially and the factory was eventually to serve as a base for exports to the Balkans and neighboring 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.
The government is preparing comprehensive reforms across its financial regulatory bodies following the massive investment fund crisis that shook domestic markets.
The Turkish Air Force has received its first Hürkuş new-generation basic trainer aircraft, a milestone in a project initiated 20 years ago.
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.
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.
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.
Turkey and the United States have signed a grant agreement to evaluate next-generation nuclear energy technologies, expanding bilateral cooperation in the energy sector.
The Financial Action Task Force (FATF) has released its 5th Round Mutual Evaluation Report for Turkey, confirming that the country faces no risk of returning to the grey list, the Finance Ministry said.
Garanti BBVA, the high-street bank majority-owned by Spain’s BBVA, has agreed to pay a fine of 1.55 billion liras ($31.8 million) after settling an antitrust investigation into labor market practices, the lender disclosed on the Public Disclosure Platform (KAP).
The EU is enforcing new temporary safeguard measures on some steel and related products imported from Turkey starting Sept. 25.