Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Authorities launched a tax audit targeting Cengiz Holding, a prominent pro-government conglomerate, but the decision to move the case from Istanbul to Ankara has raised questions. The group is also facing fierce environmental backlash over its partnership in the COP31 climate summit.
On Jan. 20, 1921, as the War of Independence was still being fought, the Grand National Assembly adopted a Constitution whose first article began: Sovereignty belongs unconditionally to the nation (Hâkimiyet bilâ kaydü şart milletindir). On Oct. 29, 1923, the assembly added another sentence to that same article: The form of government of the Turkish state is the Republic (Türkiye Devletinin şekl-i hükûmeti Cumhuriyettir).
Azerbaijan has welcomed the United Arab Emirates’ candidate for UN secretary-general just as Ankara prepares to put forward its own. Then, President Ilham Aliyev decided to skip the Organization of Turkic States summit in Ankara on Oct. 30.
The crisis in Turkey’s Ponzi-style fund industry is heading for deadlock as the government refuses to disclose the 141 people and 73 companies that each made more than 100 million liras in unjust gains despite opposition demands for transparency.
The Central Bank cut its benchmark policy rate by 100 basis points to 36% on Oct. 22, its first monetary easing since January, in line with market expectations.
Next month Antalya hosts COP31, Nov. 9-20. Ankara has sent two invitations to Cyprus: one, through the conference organizers, to the president of the Republic of Cyprus, and one, from President Recep Tayyip Erdoğan, to the president of the Turkish Republic of Northern Cyprus.
President Recep Tayyip Erdoğan held a telephone call with Azerbaijani President Ilham Aliyev in an effort to defuse a sharpening diplomatic rift between the historic allies, even as Baku escalated its stance by barring dozens of Turkish figures and initiating criminal proceedings against online critics.
Eight ministers will take up four regional files at their first joint meeting. Their host, Turkey, plans to raise nearly every other problem on the international agenda, all in a single day.
Foreign Minister Hakan Fidan hosted Justice Minister Akın Gürlek in Ankara on Oct. 13. The Foreign Ministry announced the meeting.
Foreign direct investment (FDI) inflows fell 35% year-over-year in the first eight months of 2026 to $6.8 billion from $10.5 billion recorded during the same period in 2025, according to data released by the International Investors Association (YASED).
At the beginning, he was not so sure whether having a co-chairmanship for COP31 would work well, confessed Fatih Birol, the executive director of the International Energy Agency (IEA).
For the first time in nearly five years, Turkey’s annual inflation rate slipped below 30%, giving the central bank room to consider easing monetary policy at its meeting on Oct. 22.