Turkey's lira recovers from all-time low; EM shares decline
Author of the article:
Reuters
Susan Mathew
Publishing date:Aug 19, 2020 • Last Updated 11 hours ago • 2 minute read
Article content
Turkey’s lira firmed on Wednesday after the central bank signaled higher borrowing costs, while upbeat sentiment after the S&P 500 index hit a record high overnight proved brief as an index of emerging market stocks erased early gains.
More:Turkey's lira recovers from all-time low; EM shares decline | Financial Post
Wednesday, August 19, 2020
The Long Fight: Protecting Turkish Women from Gender-Based Violence | Balkan Insight
The Long Fight: Protecting Turkish Women from Gender-Based Violence
Gulsum Kav
Gulsum Kav is at the forefront of a movement to protect women from gender-based violence and murder in Turkey. It is a long and difficult fight.
More:The Long Fight: Protecting Turkish Women from Gender-Based Violence | Balkan Insight
Gulsum Kav
Gulsum Kav is at the forefront of a movement to protect women from gender-based violence and murder in Turkey. It is a long and difficult fight.
More:The Long Fight: Protecting Turkish Women from Gender-Based Violence | Balkan Insight
Turkey Considers Quitting Treaty On Violence Against Women : NPR
Turkey Considers Quitting Treaty On Violence Against Women
The Turkish government is considering pulling out of a treaty designed to prevent violence against women. But the proposal prompted opposition and protests.
More:Turkey Considers Quitting Treaty On Violence Against Women : NPR
The Turkish government is considering pulling out of a treaty designed to prevent violence against women. But the proposal prompted opposition and protests.
More:Turkey Considers Quitting Treaty On Violence Against Women : NPR
Tuesday, August 18, 2020
Turkish lira tanks amid policy mistakes | Business| Economy and finance news from a German perspective | DW | 17.08.2020
Turkish lira tanks amid policy mistakes
Turkey's currency hit a record low against the US dollar, as investors are worried about the risk of rising inflation and even a balance-of- payments crisis. Depleted foreign currency reserves add to the woes.
More:Turkish lira tanks amid policy mistakes | Business| Economy and finance news from a German perspective | DW | 17.08.2020
Turkey's currency hit a record low against the US dollar, as investors are worried about the risk of rising inflation and even a balance-of- payments crisis. Depleted foreign currency reserves add to the woes.
More:Turkish lira tanks amid policy mistakes | Business| Economy and finance news from a German perspective | DW | 17.08.2020
Sunday, August 16, 2020
Turkey's daily virus infection rate at highest in 45 days
Turkey's daily virus infection rate at highest in 45 days
ISTANBUL (AP) — The number of new COVID-19 infections in Turkey hit its highest level in 45 days on Saturday, the country's health minister said as he announced 1,256 new cases.
More:Turkey's daily virus infection rate at highest in 45 days
ISTANBUL (AP) — The number of new COVID-19 infections in Turkey hit its highest level in 45 days on Saturday, the country's health minister said as he announced 1,256 new cases.
More:Turkey's daily virus infection rate at highest in 45 days
Turkey’s Central Bank Is in a Bind Forward of Charges Day: Eco Week | Fintech Zoom - World Finance
Turkey’s Central Bank Is in a Bind Forward of Charges Day: Eco Week
by JUNG MIN-SEO August 16, 2020 in Banking
(Bloomberg) — Turkey’s central bank is in a bind and buyers are about to learn how coverage makers remedy the dilemma of appeasing a president preoccupied with low rates of interest and the necessity to elevate borrowing prices to manage the lira rout.
More:Turkey’s Central Bank Is in a Bind Forward of Charges Day: Eco Week | Fintech Zoom - World Finance
by JUNG MIN-SEO August 16, 2020 in Banking
(Bloomberg) — Turkey’s central bank is in a bind and buyers are about to learn how coverage makers remedy the dilemma of appeasing a president preoccupied with low rates of interest and the necessity to elevate borrowing prices to manage the lira rout.
More:Turkey’s Central Bank Is in a Bind Forward of Charges Day: Eco Week | Fintech Zoom - World Finance
Friday, August 14, 2020
Gold rush at Turkish bazaar a test of trust for lowly lira | The Mighty 790 KFGO | KFGO
Gold rush at Turkish bazaar a test of trust for lowly lira
/ The Mighty 790 KFGO | KFGO
Thomson Reuters
Aug 14, 2020 3:50 AM
By Ezgi Erkoyun and Jonathan Spicer
ISTANBUL (Reuters) - Hasan Ayhan followed his wife's instructions last week and took their savings to buy gold at Istanbul's Grand Bazaar as Turks scooped up bullion worth $7 billion in a just a fortnight.
More:Gold rush at Turkish bazaar a test of trust for lowly lira | The Mighty 790 KFGO | KFGO
/ The Mighty 790 KFGO | KFGO
Thomson Reuters
Aug 14, 2020 3:50 AM
By Ezgi Erkoyun and Jonathan Spicer
ISTANBUL (Reuters) - Hasan Ayhan followed his wife's instructions last week and took their savings to buy gold at Istanbul's Grand Bazaar as Turks scooped up bullion worth $7 billion in a just a fortnight.
More:Gold rush at Turkish bazaar a test of trust for lowly lira | The Mighty 790 KFGO | KFGO
Farming in Turkey’s Mountains
Farming in Turkey’s Mountains
June 8, 2020
Tourists know Turkey’s Antalya province for its beautiful Mediterranean resorts, but coastal tourism isn’t the only major contributor to the region’s economy. Further inland, farming takes over as the dominant source of revenue and serves as the backbone for rural Turkey.
More:Farming in Turkey’s Mountains
June 8, 2020
Tourists know Turkey’s Antalya province for its beautiful Mediterranean resorts, but coastal tourism isn’t the only major contributor to the region’s economy. Further inland, farming takes over as the dominant source of revenue and serves as the backbone for rural Turkey.
More:Farming in Turkey’s Mountains
Economic policy reversal fraught with political risks for Erdogan
Economic policy reversal fraught with political risks for Erdogan
Ankara’s bid to warm the pandemic-hit economy has backfired, forcing a policy reversal that threatens to aggravate popular grievances and heighten political risks for Erdogan.
More:Economic policy reversal fraught with political risks for Erdogan
Ankara’s bid to warm the pandemic-hit economy has backfired, forcing a policy reversal that threatens to aggravate popular grievances and heighten political risks for Erdogan.
More:Economic policy reversal fraught with political risks for Erdogan
Thursday, August 13, 2020
Erdogan accuses Macron of 'colonialism' and 'spectacle' in Lebanon
Erdogan accuses Macron of ‘colonialism’ and ‘spectacle’ in Lebanon
Thursday, 13 August 2020
Turkish President Recep Tayyip Erdogan accused his French counterpart Emmanuel Macron of “colonial” aims in Lebanon on Thursday and called his recent visit to Beirut a “spectacle”, amid growing tensions between Ankara and Paris.
more:Erdogan accuses Macron of 'colonialism' and 'spectacle' in Lebanon
Thursday, 13 August 2020
Turkish President Recep Tayyip Erdogan accused his French counterpart Emmanuel Macron of “colonial” aims in Lebanon on Thursday and called his recent visit to Beirut a “spectacle”, amid growing tensions between Ankara and Paris.
more:Erdogan accuses Macron of 'colonialism' and 'spectacle' in Lebanon
Turkish Police Arrest 25 Women Demanding Turkey Remain in Women’s Rights Treaty | Democracy Now!
Turkish Police Arrest 25 Women Demanding Turkey Remain in Women’s Rights Treaty
HEADLINEAUG 13, 2020
In Turkey, police arrested 25 women at a protest in the capital Ankara Wednesday as they called on the Turkish government to reverse plans to withdraw from the Istanbul Convention — a European treaty on gender-based violence
More:Turkish Police Arrest 25 Women Demanding Turkey Remain in Women’s Rights Treaty | Democracy Now!
HEADLINEAUG 13, 2020
In Turkey, police arrested 25 women at a protest in the capital Ankara Wednesday as they called on the Turkish government to reverse plans to withdraw from the Istanbul Convention — a European treaty on gender-based violence
More:Turkish Police Arrest 25 Women Demanding Turkey Remain in Women’s Rights Treaty | Democracy Now!
Charlemagne - Fethullah Gulen shares blame for Turkey’s plight | Europe | The Economist
Fethullah Gulen shares blame for Turkey’s plight
The exiled imam did much to cripple democracy
You might think that by now Turkey had run out of handcuffs. But although the wave of arrests related to the bizarre coup attempt that rocked the country in the summer of 2016 has certainly slowed, it has not stopped. Every week seems to bring a new round-up of suspected members of the Gulen community, or cemaat, the Islamist movement that President Recep Tayyip Erdogan blames for the coup. At least 41 people, many of them soldiers, were detained on July 27th. Warrants for over two dozen others were issued last week.
More:Charlemagne - Fethullah Gulen shares blame for Turkey’s plight | Europe | The Economist
The exiled imam did much to cripple democracy
You might think that by now Turkey had run out of handcuffs. But although the wave of arrests related to the bizarre coup attempt that rocked the country in the summer of 2016 has certainly slowed, it has not stopped. Every week seems to bring a new round-up of suspected members of the Gulen community, or cemaat, the Islamist movement that President Recep Tayyip Erdogan blames for the coup. At least 41 people, many of them soldiers, were detained on July 27th. Warrants for over two dozen others were issued last week.
More:Charlemagne - Fethullah Gulen shares blame for Turkey’s plight | Europe | The Economist
Wednesday, August 12, 2020
Why the Turkish lira is in free fall | Business| Economy and finance news from a German perspective | DW | 11.08.2020
Why the Turkish lira is in free fall
The Turkish currency has hit record lows against the euro and US dollar, despite efforts by its central bank to stop the rot. The fall comes as the effects of the global pandemic and poor economic policy converge.
More:Why the Turkish lira is in free fall | Business| Economy and finance news from a German perspective | DW | 11.08.2020
The Turkish currency has hit record lows against the euro and US dollar, despite efforts by its central bank to stop the rot. The fall comes as the effects of the global pandemic and poor economic policy converge.
More:Why the Turkish lira is in free fall | Business| Economy and finance news from a German perspective | DW | 11.08.2020
Tuesday, August 11, 2020
Turkish Lira’s Fall Drives Concerns for Euro - WSJ
Turkish Lira’s Fall Drives Concerns for Euro
Further weakening in the currency could dampen Turkey’s appetite for European imports and strain businesses’ ability to repay loans to European banks
More:Turkish Lira’s Fall Drives Concerns for Euro - WSJ
Further weakening in the currency could dampen Turkey’s appetite for European imports and strain businesses’ ability to repay loans to European banks
More:Turkish Lira’s Fall Drives Concerns for Euro - WSJ
Erdogan Has Hidden an Economic Disaster Deep in Turkish Banks
Erdogan Has Hidden an Economic Disaster Deep in Turkish Banks
And he won’t be able to keep the game going for much longer.
BY CHRIS MILLER | AUGUST 11, 2020, 1:48 PM
Turkish President Recep Tayyip Erdogan is not usually known as an economic innovator. But for the past year, his government has been running a high-stakes economic experiment. The test: How long can Turkey hide the fact that it is spending far beyond its means? Normally when governments spend more than they tax, the difference appears as a budget deficit. They fund that deficit by issuing bonds, which are traded on international markets and so are easy to track. If the debt load grows too large, and if borrowing costs spike, then then country must default or seek a bailout. This type of debt crisis isn’t pleasant, as Argentina or Greece or Pakistan could attest, but it is at least straightforward and familiar.
More:Erdogan Has Hidden an Economic Disaster Deep in Turkish Banks
And he won’t be able to keep the game going for much longer.
BY CHRIS MILLER | AUGUST 11, 2020, 1:48 PM
Turkish President Recep Tayyip Erdogan is not usually known as an economic innovator. But for the past year, his government has been running a high-stakes economic experiment. The test: How long can Turkey hide the fact that it is spending far beyond its means? Normally when governments spend more than they tax, the difference appears as a budget deficit. They fund that deficit by issuing bonds, which are traded on international markets and so are easy to track. If the debt load grows too large, and if borrowing costs spike, then then country must default or seek a bailout. This type of debt crisis isn’t pleasant, as Argentina or Greece or Pakistan could attest, but it is at least straightforward and familiar.
More:Erdogan Has Hidden an Economic Disaster Deep in Turkish Banks
Turkey's collapsing lira: government is running out of options for embattled currency
Turkey's collapsing lira: government is running out of options for embattled currency
Gulcin Ozkan, Professor of Finance, King's College London
The Conversation11 August 2020
The Turkish lira hit its weakest ever level against the US dollar on August 7, trading at 7.36 at one point, having lost nearly 20% of its value since the beginning of the year. It comes almost two years to the day since Turkey was last hit by a massive currency crisis, following the economic sanctions imposed by the US government after Turkey detained American pastor Andrew Brunson on terrorism charges.
More:Turkey's collapsing lira: government is running out of options for embattled currency
Gulcin Ozkan, Professor of Finance, King's College London
The Conversation11 August 2020
The Turkish lira hit its weakest ever level against the US dollar on August 7, trading at 7.36 at one point, having lost nearly 20% of its value since the beginning of the year. It comes almost two years to the day since Turkey was last hit by a massive currency crisis, following the economic sanctions imposed by the US government after Turkey detained American pastor Andrew Brunson on terrorism charges.
More:Turkey's collapsing lira: government is running out of options for embattled currency
Monday, August 10, 2020
Erdogan’s Turkey battles the ghosts of Sèvres, 100 years later - The Washington Post
A century-old treaty haunts the Mediterranean
By
Ishaan Tharoor
August 10, 2020 at 12:00 a.m. EDT
A hundred years ago, French, British and Italian officials convened in a famous porcelain factory southwest of Paris to carve up the Ottoman Empire. The Treaty of Sèvres, signed Aug. 10, 1920, concluded months of fitful negotiations among the victors of World War I and paved the way for the remaking of the modern Middle East. It imposed terms on the defeated Ottomans widely seen as even more punitive than the measures dictated to Germany by the Treaty of Versailles earlier that year, forcing the empire to rescind all its claims to lands in the Middle East and North Africa.
More:Erdogan’s Turkey battles the ghosts of Sèvres, 100 years later - The Washington Post
By
Ishaan Tharoor
August 10, 2020 at 12:00 a.m. EDT
A hundred years ago, French, British and Italian officials convened in a famous porcelain factory southwest of Paris to carve up the Ottoman Empire. The Treaty of Sèvres, signed Aug. 10, 1920, concluded months of fitful negotiations among the victors of World War I and paved the way for the remaking of the modern Middle East. It imposed terms on the defeated Ottomans widely seen as even more punitive than the measures dictated to Germany by the Treaty of Versailles earlier that year, forcing the empire to rescind all its claims to lands in the Middle East and North Africa.
More:Erdogan’s Turkey battles the ghosts of Sèvres, 100 years later - The Washington Post
Friday, August 07, 2020
Catastrophic fall of lira could be blessing in disguise for Turkish tourism
Catastrophic fall of lira could be blessing in disguise for Turkish tourism
Harry S. Johnson
August 7, 2020 18:12
Turkish lira keeps hitting record lows against the major currencies on exchange markets due to years of debt accumulation and the unwillingness of President Erdogan to increase interest rates.
More:Catastrophic fall of lira could be blessing in disguise for Turkish tourism
Harry S. Johnson
August 7, 2020 18:12
Turkish lira keeps hitting record lows against the major currencies on exchange markets due to years of debt accumulation and the unwillingness of President Erdogan to increase interest rates.
More:Catastrophic fall of lira could be blessing in disguise for Turkish tourism
Erdogan's Neo-Ottoman Aspirations Inspire Islamists :: The Investigative Project on Terrorism
Erdogan's Neo-Ottoman Aspirations Inspire Islamists
by Hany Ghoraba
Special to IPT News
August 7, 2020
Turkish President Recep Tayyip Erdogan's once hidden agenda of reviving a modern version of the Ottoman Empire is not so secret in light of recent moves. The world has watched Erdogan use draconian and oppressive methods to beat down domestic critics. The conversion of Hagia Sophia – formerly a Byzantine cathedral – into mosque last month was a symbolic step to inspire Islamists who are longing for a new caliphate. Erdogan's state-controlled media already are calling for the Muslim world's first superpower.
More:Erdogan's Neo-Ottoman Aspirations Inspire Islamists :: The Investigative Project on Terrorism
by Hany Ghoraba
Special to IPT News
August 7, 2020
Turkish President Recep Tayyip Erdogan's once hidden agenda of reviving a modern version of the Ottoman Empire is not so secret in light of recent moves. The world has watched Erdogan use draconian and oppressive methods to beat down domestic critics. The conversion of Hagia Sophia – formerly a Byzantine cathedral – into mosque last month was a symbolic step to inspire Islamists who are longing for a new caliphate. Erdogan's state-controlled media already are calling for the Muslim world's first superpower.
More:Erdogan's Neo-Ottoman Aspirations Inspire Islamists :: The Investigative Project on Terrorism
Thursday, August 06, 2020
Turkish women rally against domestic violence as ruling party contemplates leaving key rights convention - CNN
Turkish women rally against domestic violence as ruling party contemplates leaving key rights treaty
By Gul Tuysuz, CNN
Updated 6:57 PM ET, Wed August 5, 2020
Demonstrators wearing protective face masks hold up placards with names of women during a demonstration for a better implementation of the Istanbul Convention in Istanbul on Wednesday.
(CNN)Women poured into rallies across Turkey on Wednesday over fears of Ankara's potential withdrawal from a European treaty on gender-based violence.
More:Turkish women rally against domestic violence as ruling party contemplates leaving key rights convention - CNN
By Gul Tuysuz, CNN
Updated 6:57 PM ET, Wed August 5, 2020
Demonstrators wearing protective face masks hold up placards with names of women during a demonstration for a better implementation of the Istanbul Convention in Istanbul on Wednesday.
(CNN)Women poured into rallies across Turkey on Wednesday over fears of Ankara's potential withdrawal from a European treaty on gender-based violence.
More:Turkish women rally against domestic violence as ruling party contemplates leaving key rights convention - CNN
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