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Aug 13, 2015

Turkish lira at record low, stocks slide after coalition talks ends

ISTANBUL, Aug 13 (Reuters) – The Turkish lira hit a record
low and stocks tumbled 3 percent on Thursday after coalition
talks between the ruling AK Party and the main opposition ended
negatively, setting the stage for a snap election.

“It’s not clear when elections will be. But the idea is that
it probably will act as yet another catalyst that impedes
investment,” said Manik Narain, a strategist at UBS in London.

Jul 23, 2015

Turkey keeps rates on hold in post-election uncertainty

ISTANBUL, July 23 (Reuters) – Turkey’s central bank kept
interest rates on hold for the fifth straight month on Thursday,
remaining cautious as political uncertainty blunted consumer
confidence and a drop in food prices took pressure off

Prime Minister Ahmet Davutoglu’s AK Party has until late
August to find a junior coalition partner or face a snap
election after losing its single-party majority at the polls
last month. It is in preliminary talks with the main opposition,
but progress appears to be slow.

Jul 14, 2015

Van Persie receives rapturous welcome to Fenerbahce

ISTANBUL (Reuters) – Netherlands striker Robin van Persie vowed on Tuesday to rekindle his goal-scoring prowess and help Fenerbahce win trophies as he joined the Turkish club from Manchester United on a three-year deal.

Donning the blue-and-yellow striped kit of the Turkish league runners-up, van Persie stepped out in front of thousands of cheering fans, a few setting off flares, at a signing ceremony in their stadium on the Asian side of Istanbul.

Jul 1, 2015

Political uncertainty threatens Turkey’s economy as World Bank cuts forecasts

ISTANBUL, July 1 (Reuters) – The World Bank cut its growth
forecasts for Turkey on Wednesday as uncertainty over who will
govern exacerbated the country’s economic weaknesses and
vulnerability to global liquidity tightening.

Parliamentary elections on June 7 failed to give any party a
clear majority, plunging the lira to record lows against the
dollar. The AK Party, which lost its single-party rule for the
first time since coming to power in 2002, is now looking for a
junior partner to form a coalition government.

Jun 30, 2015

Turkey says any Syria measures not act of war but to preserve border security

ANKARA/ISTANBUL (Reuters) – A top aide of Tayyip Erdogan rejected accusations the Turkish president was ready to pitch the country’s armed forces into war in Syria and said any security measures it took would be intended only to secure its southern frontier.

Turkey’s main opposition leader said the “drums of war” were beating as part of an effort to bolster Erdogan’s authority after the AK Party lost its majority in polls. However, armed action across the border in Syria, where Kurdish militia and Islamist militants vie for control, would be disastrous.

Jun 30, 2015

Turkish opposition leader warns against intervention in Syria

ISTANBUL (Reuters) – Turkey’s main opposition party leader warned on Tuesday any military intervention in Syria would spell disaster for Turkey and in comments clearly aimed at President Tayyip Erdogan said the country could not be “a plaything for your ambition”.

Turkish newspapers have carried reports Erdogan is considering creation of a buffer zone across the border, where Kurdish militia and Islamist militants vie for control. The reports come as the AK Party he formed seeks to re-establish its authority after losing its overall majority in June 7 elections.

Jun 29, 2015

Turkey to take ‘necessary measures’ on border security: PM Davutoglu

ANKARA (Reuters) – Prime Minister Ahmet Davutoglu said Turkey was prepared for all necessary measures to tackle security threats along its borders, highlighting Ankara’s growing anxiety about conflict near its southern frontier in Syria.

He was speaking on television late on Sunday, ahead of Monday’s meeting of a National Security Council meeting, where Syria was expected to top the agenda, and as local media reported Ankara was considering military steps to counter security risks from Syria.

Jun 23, 2015

Turkey’s central bank leaves main interest rate unchanged

ISTANBUL, June 23 (Reuters) – Turkey’s central bank kept
interest rates unchanged on Tuesday, resisting government
pressure for cuts after a June 7 election left the ruling AK
Party without a majority for the first time in more than a

Investors have been hoping the AKP’s election setback this
month – the party now needs to find a junior partner to form a
coalition government – could give the central bank some
much-needed breathing space to fight inflation.

Jun 19, 2015

Turkey’s main opposition floats idea of “rotating” premiership

ISTANBUL (Reuters) – Turkey’s main secularist opposition suggested rotating the post of prime minister with a nationalist party on Friday, in an effort to win support for a coalition government excluding the ruling AK Party.

The AKP lost its parliamentary majority for the first time in a June 7 election, dealing a blow to President Tayyip Erdogan’s ambitions of amassing greater power and leaving the party he founded in need of a junior coalition partner.

Jun 10, 2015

Turkish growth beats forecast, political turmoil clouds outlook

ISTANBUL (Reuters) – Turkey’s economy grew a greater-than-expected 2.3 percent in the first quarter, data showed on Wednesday, in a speck of good news for the country as it faces the possibility of weeks of fractious talks on forming a coalition government.

President Tayyip Erdogan and members of the ruling AK Party had predicted for months the economy would get a boost after Sunday’s parliamentary elections, arguing that political certainty would help spur investment.

    • 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."
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