FUND CRISIS TOLL DEEPENS AS INVESTOR PAYOUTS BEGIN
In one of the country’s largest financial scandals, payments to victimized fund investors began and priority will be given to small investors, according to statements from officials.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
MINERS END 17-DAY PROTEST AFTER RECEIVING FIRST PAYMENTS
Mining workers demonstrating in Ankara against Yıldızlar SSS Holding ended their 17-day protest outside the Energy Ministry after receiving the first installment of their back pay.
INTEREST SWALLOWS TURKEY'S BUDGET
Turkey spent 5.5 times more on interest payments than on public investment in the first half of the year, as debt servicing became the single largest item in a budget that ran a deficit of nearly 1 trillion liras.
JULY 11 CEREMONY MARKS FIRST STEP IN PKK’S DISSOLUTION
All eyes are on Sulaymaniyah in northern Iraq, where the first group of PKK members is set to disarm on July 11 — the organization’s first act of disarmament since its founding nearly 50 years ago. This symbolic ceremony follows the PKK’s May 12 announcement of its decision to disband. Depending on when subscribers opt to read this issue, the footage may have already surfaced.
MYSTERIOUS DEATH OF AN OPPOSITION FIGURE
Muhammed Yakut, a controversial figure known for his YouTube exposes targeting crime networks and political figures, died all of a sudden in Duisburg, Germany, just hours after contacting Turkish journalist İsmail Saymaz to say he was preparing to make “important statements.”
BILAL ERDOĞAN HEADS AKP DELEGATION IN SYRIA VISIT
Bilal Erdoğan, son of President Recep Tayyip Erdoğan and chair of the İlim Yayma Foundation, visited Syria on May 14 alongside a senior AKP delegation that included Deputy Chair and Head of Foreign Relations Zafer Sırakaya, parliamentary group deputy chair Abdulhamit Gül, and Gaziantep Mayor Fatma Şahin.
OFFICIAL STATEMENTS DIVERGE ON FLIGHT DATA IN LIBYAN AIRCRAFT CRASH
The cockpit voice recorder (CVR) from the aircraft that crashed near Haymana, Ankara, in late 2025 had been decoded, but it provides information that clashes with the prosecutor’s file and the Interior Ministry’s statement on the lethal crash.
TURKEY’S 2026 BUDGET MISSES £5.4B EUROFIGHTER COST
Under the agreement signed between Turkey and the U.K., the £5.4 billion payment to the Eurofighter consortium for 20 Typhoon fighter jets was not included in either the Defense Ministry’s budget or the Defense Industry Presidency's (SSB) budget. The Defense Industry Support Fund (SSDF) can be used as a source of funding for this project, but the cost of the Typhoons is approximately double the annual amount transferred to the fund from taxes collected by the state.
NUMBER OF COMPANIES FILING FOR CONCORDAT RISES BY 72%
The financial crisis facing companies in Turkey is deepening as the amount of non-performing loans from banks exceeded 519 billion lira as of the week of Oct. 24. In the January-October period of 2025, the number of companies granted a temporary moratorium on debt repayment rose to 2,326, a 72% increase year on year.
$10.7 BILLION FIGHTER DEAL WITHOUT CONCRETE DETAILS
Following lengthy negotiations, an agreement for Turkey to procure 20 Eurofighter Typhoon Tranche 4 fighter jets from the UK was signed in Ankara on Oct. 27. Turkey will increase the number of aircraft in its Eurofighter fleet to 44 by procuring 12 second-hand Typhoons each from Qatar and Oman. The $10.7 billion (£8 billion) payment to the U.K. under the agreement has become a subject of debate in Turkish domestic politics, as the details of the package were not announced.
CHP FACES NEW SETBACK AS COURT HALTS ISTANBUL CONGRESS PROCESS
Turkey’s main opposition CHP suffered a fresh blow as a court dissolved its largest provincial board in Istanbul over cash payment claims. The party now awaits either a Sept. 5 ruling by the Supreme Election Board (YSK) or a Sept.15 court hearing that could unseat Chair Özgür Özel’s administration. The CHP, which came to power at a November 2023 congress with the slogan “Change,” now risks being replaced by the team of former chair Kemal Kılıçdaroğlu. The 45th Civil Court of First Instance ruled that irregularities in the October 2023 Istanbul provincial congress were “approximately proven.” The court suspended provincial chair Özgür Çelik, the executive and disciplinary boards, and 196 delegates. Attention has now turned to another court set to review the CHP’s 2023 congress in Ankara. “The Istanbul decision is null and void. We do not recognize it,” said Özel, vowing not to hand over CHP’s Istanbul building to the appointed administration. The Istanbul administration also started a stage-in protest in front of the building for 24 hours.
CHINA, UAE AND TURKEY FORM UNLIKELY ALLIANCE FOR FINTECH
A joint Turkish-UAE-Chinese venture is set to launch a comprehensive digital banking and payments platform in Turkey, marking an unusual cross-border collaboration that includes players from both the Gulf and China.