ELECTRONICS GIANT VESTEL IN SEVERE FINANCIAL DISTRESS
Electronics and home appliances exporter Vestel Elektronik faces growing financial pressure as Moody’s cut its long-term rating and warned of a very high risk of default.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
FRENCH EGIS NOW EYES BOSPHORUS BRIDGES
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.
GARANTI BBVA FINED 1.55 BILLION LIRA
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).
PROSECUTORS LAUNCH CRACKDOWN ON PRODUCE WHOLESALERS
Authorities have launched a judicial operation against major produce distributors, detaining scores of executive-level figures for artificially inflating wholesale fruit and vegetable prices amid high food inflation.
BAN FOR ACADEMICS ON ONLINE MONETIZATION
The Higher Education Council (YÖK) has effectively barred academics at public universities from monetizing content on YouTube and digital platforms, classifying online revenue as commercial trade, which is illegal for civil servants.
TREASON THEN, TARGET NOW: GOVERNMENT REVIVES BRIDGE PRIVATIZATION
The government has put the lucrative Bosphorus bridges and major state highways back on sale 14 years after cancelling a similar tender. The move comes as medium-term plans include significantly higher privatization revenue in the coming years.
HIGH-PRECISION STRIKE TESTS AGAINST MOVING TARGETS
Turkish defense industry companies demonstrated their high-precision strike capabilities through various integrated systems.
PROBE INTO PRO-GOVERNMENT MEDIA FIGURES WIDEN
An investigation touching several pro-government media figures is widening, with new detention warrants issued for additional suspects even as one high-profile figure has been released.
FRAMEWORK LAW PASSES, ATTENTION SHIFTS TO NEW CONSTITUTION
Following the framework law's acceptance by a high vote of 467 in parliament — legislation expected to end a half-century-long conflict in relation to the Kurdish issue— now eyes are on the next steps the government will take.
HIGHWAY PRIVATIZATION AT A CROSSROADS: ONE BUNDLE OR SEPARATE PACKAGES
The government plans to privatize state-operated highways and bridges under a 25-year transfer of operating rights model, while officials weigh whether to sell the assets as a single bundle or divide them into separate packages.
CENTRAL BANK HOLDS RATE AT 37% AS BUSINESS SECTOR DEMANDS CREDIT RELIEF
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.
Let’s Get the Party Started!
Özel finally finds his new party, calls it a shirt of fire, CHP self-divides again, imagining its votes will go higher.