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Mar 11, 2015

Truce not consensus seen as Erdogan meets Turkish central bank chief

ISTANBUL (Reuters) – Nervous Turkish markets are hoping President Tayyip Erdogan can make peace with the central bank governor on Wednesday, but the two seem likely at best to agree to disagree on interest rate policy.

Erdogan’s demands for a sharp rate cut to boost economic growth before a June election, even though inflation remains high, have helped to send the lira to record lows and raised concern about the bank’s independence.

Mar 6, 2015

Vocal critic of Tajik president shot dead in Istanbul

ISTANBUL (Reuters) – An outspoken critic of veteran Tajik leader Imomali Rakhmon has been shot dead by an unknown assailant on a street in Istanbul, Turkish media reported on Friday.

Umarali Kuvvatov, who had been living in exile in Turkey and was head of the “Group 24″ opposition movement, was killed with a single shot to the head at around 10:30 pm (2030 GMT) on Thursday evening in the Fatih district of the city, Dogan news agency said. The attacker then fled the scene.

Mar 4, 2015

Turkey seeks to calm New York investor nerves as lira plunges

ANKARA/ISTANBUL, March 4 (Reuters) – Turkey’s prime minister
and his economic team will seek to calm nerves among top
investors in New York who hold more than 20 percent of the main
Istanbul stock index, after President Tayyip Erdogan’s tirades
against the central bank helped send the lira to record lows.

Erdogan has repeatedly attacked the bank over its failure to
cut interest rates as sharply as he wants ahead of a June
general election, telling its governor and Deputy Prime Minister
Ali Babacan, who is in charge of the economy, to “shape up”.

Mar 4, 2015

Turkey seeks to calm market nerves with New York investor meetings

ANKARA/ISTANBUL, March 4 (Reuters) – Turkey’s prime minister
and his economic team will seek to calm nerves among top
investors in New York on Wednesday and Thursday after President
Tayyip Erdogan’s tirades against the central bank helped send
the lira to record lows.

Erdogan has repeatedly attacked the bank over its failure to
cut interest rates as sharply as he wants ahead of a June
general election, telling its governor and Deputy Prime Minister
Ali Babacan, who is in charge of the economy, to “shape up”.

Mar 3, 2015

Turkish inflation edges up in Feb, limiting central bank’s options

ISTANBUL, March 3 (Reuters) – Turkish inflation rose
slightly less than expected in February but remained
significantly above the central bank’s target, limiting its room
to make the deep interest rate cuts demanded by President Tayyip
Erdogan.

Seeking to boost flagging growth ahead of a June general
election, Erdogan has warned that defending high interest rates
amounts to treason, ratcheting up pressure on the central bank
and telling Governor Erdem Basci to “shape up”.

Mar 2, 2015

Turkey’s Erdogan to talk to central bank governor, warns of ‘treason’

ISTANBUL, March 2 (Reuters) – Defending high interest rates
is tantamount to treason, Turkish President Tayyip Erdogan
warned at the weekend, and said the governor of the central bank
and deputy prime minister in charge of the economy needed to
“shape up”.

Deepening a standoff which has rattled investor nerves,
Erdogan was quoted on Monday as saying he would hold talks with
Central Bank Governor Erdem Basci, under fire for failing to cut
rates as sharply as Erdogan wants.

Feb 24, 2015

Turkey cuts rates as inflation eases, political pressure rises

ISTANBUL, Feb 24 (Reuters) – Turkey’s central bank trimmed
its key interest rate by 25 basis points on Tuesday, taking
action in the face of falling inflation and prompting a
government with one eye on a June parliamentary election to call
for steeper cuts.

The bank said it would keep monetary policy cautious until
evidence was clear of a significant drop in the outlook for
inflation, which is falling steadily but remains above the
bank’s target level.

Feb 18, 2015

Turkish parliament becomes battleground for Kurdish peace process

ISTANBUL/ANKARA, Feb 18 (Reuters) – A warning from Kurdish
militants that negotiations with Turkey could be on the verge of
collapse has turned parliament into the key battleground in a
peace process meant to end a three-decade insurgency.

The Kurdistan Workers Party (PKK) warned from their base in
northern Iraq’s Qandil mountains on Tuesday that Turkey must
take concrete steps to advance the process, piling on the
pressure ahead of a general election in June.

Feb 17, 2015

Kurdish militants demand progress from Turkey or say peace talks may end

ISTANBUL (Reuters) – Kurdish militants demanded concrete steps from Turkey to advance a fragile peace process on Tuesday, accusing the ruling AK Party of stalling and warning that the negotiations could break down.

Hopes have been running high in recent weeks that jailed militant leader Abdullah Ocalan would call an end to an armed struggle which has killed 40,000 people over three decades and stunted development in Turkey’s mainly Kurdish southeast.

Jan 20, 2015

Turks, Kurds push for peace breakthrough despite new surge in violence

ISTANBUL/ANKARA (Reuters) – A spate of killings, a looming general election and war next door in Syria are complicating efforts to end the 30-year Kurdish insurgency in Turkey just as a breakthrough in peace talks looks close.

Jailed militant leader Abdullah Ocalan may call an end to his Kurdistan Workers Party’s (PKK) armed struggle in Turkey by March, some close to the process say. But some also say unrest in the mainly Kurdish southeast suggests the PKK is flexing its muscles as it looks to stamp its authority in the region.

    • 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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