TREASURY PAYS RECORD RATES IN BACK-TO-BACK BOND AUCTIONS
Turkey has become the world's most expensive borrower in local currency, agreeing to pay interest rates exceeding 41% during back-to-back domestic bond auctions this week.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
BIG MAC INDEX SUGGESTS LIRA IS SEVERELY OVERVALUED
Former Treasury Undersecretary and prominent economist Mahfi Eğilmez calculated that the fair value of the US dollar should be 65 liras based on the Big Mac Index, far above the market exchange rate of 47.50 liras and warned that the holding the exchange rate below its fair value inflates the country's GDP and per capita income figures on paper without making Turks any richer.
ERDOĞAN EXPECTED TO ANNOUNCE NEW AKP MEMBERS
President Recep Tayyip Erdoğan is expected to welcome new members into the AKP at the party's 25th anniversary event in Ankara on Aug. 14, with two sitting deputies from the İYİ Party set to join.
A NEW SUNNI AXIS?
On Friday — a day of particular symbolic weight for the Islamic world — President Recep Tayyip Erdoğan, Crown Prince Mohammed bin Salman and Prime Minister Shehbaz Sharif put their signatures to a trilateral defense agreement in Mecca, Islam’s holiest city.
La Isla Bonita
Sixty thousand cross to Ceuta, most turn right back around, EU ministers blast Spain, then quietly walk it down.
CRACKDOWN ON PRO-GOVERNMENT SCREEN FACES CONTINUES
After the detention of Cem Küçük, a prominent commentator on TV screens known for leaking information from judicial files, Tahir Sarıkaya, an anchor from the Beyaz TV channel owned by former Ankara Mayor Melih Gökçek and his son Osman Gökçek, was arrested for blackmailing and spreading false information.
STRIKING MINERS IN ANKARA AGAIN OVER UNPAID WAGES
Coal miners from Doruk Mining, a subsidiary of Yıldızlar SSS Holding that made the headlines earlier this year, held a new sit-in protest in Ankara, demanding years of unpaid severance and termination benefits as promises were not kept.
OPPOSITION SLAMS METHODOLOGY AND FRAMEWORK BILL
Despite the support in parliament for the bill, there was criticism from nationalist parties.
TATLIOĞLU REMAINS ERDOĞAN’S INDISPENSABLE CHOICE
Naval Forces Commander Admiral Tatlıoğlu will remain a candidate for a cabinet post in any upcoming reshuffle by President Erdoğan.
YENİ PARTY BECOMES MAIN OPPOSITION AS DETENTIONS CONTINUE UNABATED
The Yeni Party became Turkey's main opposition party soon after its founding, with 91 lawmakers among its founders. Mayors and municipal council members continued to join the party, while the crackdown against its supporters continued at full speed across the country.
The Heat is On
The pause breaks in a week, as pauses always do: Washington and Riyadh strike Iraq anew.
THE FIRE SEASON
This summer, Turkey’s coast mostly held. A fire near Fethiye, a scare in Antalya’s Kepez district, a few homes emptied as a precaution and their residents returned to within a day. After last year, it has the feel of a reprieve, which is the most dangerous weather the region knows. Because we have all seen what the season can do.