Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The central bank kept its benchmark policy rate unchanged at 37% during its Monetary Policy Committee meeting on July 23, matching market expectations. However, business leaders are increasingly complaining about high borrowing costs, tight credit restrictions, and falling industrial output.
The 'two-camp' character of Turkey's media — a divide that long predated the AKP but sharpened under its rule — is shifting after the 'absolute nullity' ruling that is changing the dynamics of Turkish politics.
A series of notable moves targeting companies producing 155 mm ammunition ammunition has taken place in recent days.
Özgür Özel, ousted as CHP chair by a court ruling, is preparing to set up a new party even as legal threats mount against him and his allies. The party is likely to be called Yeni Party (New Party), Özel said. 'We are working on the name and the logo. The name has started to become clear. There is a generally accepted name, while the logo is still being worked on. For now, let's call it 'Yeni Party.' Until there is a new name, let's say Yeni Party,' Özel told SZC TV. 'The statute and the program are being written. The official step will be taken at the end of July or the beginning of August,' Özel told the channel at parliament ahead of a special session marking the 10th anniversary of the failed coup attempt.
CHP tears itself in two, Özel ponders a new party; Stay till the end, he says, and take it back, hearty; But should the courts not bend, he's got a backup plan: 110 MPs, and himself as the new man.
Suffering from a loss of competitiveness due to the weak lira and high inflation, the head of the Istanbul Apparel Exporters Association (IHKIB) has requested a three-year support program to save the ready-to-wear sector.
Ten years after tanks rolled onto the Bosphorus Bridge and F-16s bombed parliament, Turkey marks the anniversary of the failed July 15 coup attempt with a holiday named 'Democracy and National Unity Day' — in a country more polarized, less democratic and no closer to answering the fundamental questions of that night than it was a decade ago.
Turkey was kicked out of the F-35 joint production program because of Russia during Trump’s presidency; can it be taken back because of Russia yet again during Trump’s presidency?
Paying an official visit to President Recep Tayyip Erdoğan ahead of the NATO Summit and signaling movement on the F-35 and the Kaan's F110 engines, US President Donald Trump also touched on two subjects that sent a chill through Ankara: the release of American Pastor Andrew Brunson, and Turkey's stance in the US-Israeli war against Iran. Meant as praise, both stories cut deeper than they flattered.
Foreign investors' confidence in Turkish equities is under mounting pressure as two of the world's leading index providers signaled Istanbul's stock market could face a downgrade. Morgan Stanley Capital International (MSCI) issued another warning regarding investment accessibility and shareholder transparency, announcing it may re-evaluate free-float structures on a company-by-company basis and reclassify certain shareholders as 'non-free float' to address distorted calculations driven by coordinated fund actions.
The Sultan's guard in scarlet plumes lined up beneath the summit's blooms, Janissaries, sabers bright,
The word of the week is şatafat, and Ankara supplied the visual aid. At the NATO summit, Turkey received its guests with the full vocabulary of Erdoğan-era grandeur: mehter music, ceremonial guards, a turquoise carpet that seemed designed less for walking than for being recorded, and the Erdoğan couple standing before the vast Presidential Complex, its doors polished to a shine usually reserved for furniture showrooms. There was also the choreography.