Senior correspondent
Daren's Feed
May 29, 2015

Turkish authorities take over Islamic lender Bank Asya

ISTANBUL, May 29 (Reuters) – Turkish authorities said on
Friday they had decided to take over Bank Asya, the
Islamic lender caught up in a feud between President Tayyip
Erdogan and U.S.-based Muslim cleric Fethullah Gulen.

The move was announced by the banking watchdog BDDK just
over a week ahead of a parliamentary election and on the same
day that Erdogan launched the Islamic business of the
state-owned Ziraat Bank.

May 22, 2015

Turkish police swoop on Erdogan foes, dozens detained

ISTANBUL (Reuters) – Turkish police launched an operation on Friday to detain dozens of people including businessmen seen as supporters of U.S.-based Muslim cleric Fethullah Gulen, President Tayyip Erdogan’s ally-turned-foe, a provincial governor’s office said.

Moves against what Erdogan calls a parallel structure or terrorist group within the state had until now focused on suspected Gulen sympathisers in the police, judiciary, media and a bank founded by his followers.

May 22, 2015

Turkish police swoop on Erdogan foes, dozens detained: media

ISTANBUL (Reuters) – Turkish police launched an operation on Friday to detain dozens of people including businessmen perceived to be supporters of U.S.-based Muslim cleric Fethullah Gulen, President Tayyip Erdogan’s ally-turned-foe, the Dogan news agency said.

Moves against what Erdogan calls a “parallel structure” within the state had until now focused on suspected members of Gulen’s network in the police, judiciary, media and a bank founded by his followers.

May 20, 2015

Turkish central bank leaves rates on hold as election looms

ISTANBUL, May 20 (Reuters) – Turkey’s central bank left
interest rates on hold on Wednesday, taking advantage of a lull
in political pressure for easing ahead of a June 7 election to
keep up its fight against rising inflation.

President Tayyip Erdogan has issued a barrage of calls for
lower rates in the past few months but has halted his criticism
in recent weeks after it sparked widespread concern about
political meddling in monetary policy.

May 18, 2015

Turkish labour protest spreads, hitting top two automakers

ISTANBUL, May 18 (Reuters) – Turkish automaker Tofas
halted production at its main factory on Monday, as a
protest against working conditions intensified and threatened to
embarrass President Tayyip Erdogan and the ruling AK Party weeks
before a parliamentary election.

Erdogan and the socially conservative, pro-business party he
founded are widely credited with guiding Turkey through years of
rapid expansion. But that reputation may be coming unstuck as
growth slows and unemployment remains above 11 percent.

May 15, 2015

More than one in 10 Turks unemployed ahead of parliamentary election

ISTANBUL (Reuters) – Turkish unemployment hit 11.2 percent in the first three months of the year, data showed on Friday, highlighting the pressures on the economy weeks before a parliamentary election.

Having built its reputation on years of economic expansion, the ruling AK Party is now faced with flagging growth, and has resorted to putting pressure on the central bank to cut interest rates.

May 12, 2015

Turkish deputy PM questions government record on justice ahead of election

ISTANBUL (Reuters) – A top figure in Turkey’s AK Party said trust in the judiciary had been eroded during the group’s time in office, comments likely to anger President Tayyip Erdogan and pointing to unease in the ruling party ahead of a parliamentary election.

Deputy Prime Minister Bulent Arinc, who has sparred with Erdogan in the past, suggested in a television interview late on Monday that the Justice and Development (AK) Party had lived up to only half its name after more than a decade in power.

May 12, 2015

Turkish deputy PM questions govt record on justice ahead of election

ISTANBUL (Reuters) – A top figure in Turkey’s AK Party said trust in the judiciary had been eroded during the group’s time in office, comments likely to anger President Tayyip Erdogan and pointing to unease in the ruling party ahead of a parliamentary election.

Deputy Prime Minister Bulent Arinc, who has sparred with Erdogan in the past, suggested in a television interview late on Monday that the Justice and Development (AK) Party had lived up to only half its name after more than a decade in power.

Apr 22, 2015

Turkish central bank leaves rates on hold as election looms

ISTANBUL, April 22 (Reuters) – Turkey’s central bank left
key interest rates unchanged on Wednesday, holding fire ahead of
a June parliamentary election, even as the lira’s slide to
record lows risks fuelling inflation.

However the bank took steps on liquidity management, making
a “measured cut” in its forex depo lending rate, the rate at
which banks can borrow emergency dollar funds, and hiking the
amount it pays banks on lira reserves.

Apr 21, 2015

Pro-Kurdish party vows to be ‘nightmare’ for Turkey’s Erdogan

ISTANBUL (Reuters) – Turkey’s pro-Kurdish Peoples’ Democratic Party (HDP) vowed on Tuesday to be President Tayyip Erdogan’s “nightmare” if it enters parliament after a June election by blocking his plans for an executive presidency.

Unveiling a leftist election manifesto which reaches beyond its Kurdish grassroots, the HDP also demanded greater rights for women and minorities in Turkey while reaffirming its support for ending a 30-year conflict between the state and Kurdish rebels.

    • About Daren

      "I am based in Istanbul where I cover a broad range of financial and general news. I joined Reuters in Ankara in 1996 and left Turkey to work in London in 2000. I returned to Istanbul in 2003."
    • Follow Daren