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Jun 5, 2013

Turks clash with police despite deputy leader’s apology

ISTANBUL (Reuters) – Protesters clashed with police across Turkey overnight despite an apology for police violence from the deputy prime minister designed to halt an unprecedented wave of protest against Prime Minister Tayyip Erdogan.

Deputy Prime Minister Bulent Arinc was due to meet on Wednesday with organisers of the original demonstration against plans to build a replica Ottoman-era barracks on Istanbul’s Gezi Park in Taksim Square. But he refuses to talk to uunamed groups he accuses of exploiting the situation to foment violence.

Jun 4, 2013

Istanbul United: protests bring rival fans together, for now

ISTANBUL (Reuters) – Days of anti-government protest in Turkey have achieved one feat that has eluded the authorities for years: uniting the fiercely rival and sometimes violent supporters of Istanbul’s “Big Three” football clubs.

Besiktas, Galatasaray and Fenerbahce fans have come together in new-found solidarity during five days of demonstrations against Prime Minister Tayyip Erdogan’s government.

Jun 4, 2013

Soccer-Istanbul United: protests bring rival fans together, for now

ISTANBUL, June 4 (Reuters) – Days of anti-government protest in Turkey have achieved one feat that has eluded the authorities for years: uniting the fiercely rival and sometimes violent supporters of Istanbul’s “Big Three” football clubs.

Besiktas, Galatasaray and Fenerbahce fans have come together in new-found solidarity during five days of demonstrations against Prime Minister Tayyip Erdogan’s government.

Jun 3, 2013

Turkish markets tumble as protests unsettle investors

ISTANBUL (Reuters) – Turkish shares fell 6.67 percent, the lira spiraled to 16-month lows and bond yields jumped on Monday as investors were given their first chance to respond to violent anti-government protests over the weekend in cities across the country.

Protests, which began last week with a demonstration to save an Istanbul park from development, have widened into a broad show of defiance against the ruling AK Party. Tens of thousands of Turks took to the streets on Sunday and many clashed with riot police in major cities.

May 29, 2013

New bridge linking Europe and Asia embodies Turkey’s rise

ISTANBUL (Reuters) – Turkey launched construction on Wednesday of a third bridge linking its European and Asian shores, the latest in a slew of multi-billion dollar projects that Prime Minister Tayyip Erdogan sees as embodying its emergence as a major power.

Erdogan, who has led a decade-long transformation of a once crisis-prone economy into Europe’s fastest growing, has prioritized the building frenzy as the nation’s infrastructure struggles to keep up with its growth.

May 17, 2013

Turkey hails new investment grading but worries about money flows

ISTANBUL, May 17 (Reuters) – Turkey hailed its second
investment grade rating on Friday, seeing it as a seal of
approval from international markets for a decade of economic
reform.

Investors joined in, driving sovereign bond yields to record
lows.

Government enthusiasm was tempered, however, by some concern
that the move, coinciding with a visit by Prime Minister Tayyip
Erdogan to Washington, might trigger over-large capital inflows
into the lira currency.

May 17, 2013

Turkey welcomes Moody’s upgrade, bond yields tumble

ISTANBUL, May 17 (Reuters) – Turkey hailed its second
investment grade rating on Friday, seeing it as a seal of
approval from international markets for a decade of economic
reform.

Investors joined in, driving sovereign bond yields to record
lows.

Government enthusiasm was tempered, however, by some concern
that the move, coinciding with a visit by Prime Minister Tayyip
Erdogan to Washington, might trigger over-large capital inflows
into the lira currency.

May 16, 2013

Turkish central bank cuts rates to boost growth, curb lira

ISTANBUL, May 16 (Reuters) – Turkey’s central bank cut its
main interest rates by 50 basis points each on Thursday in a bid
to stimulate the faltering economy and keep the lira from rising
due to aggressive monetary easing elsewhere.

It also tweaked its bank reserve rules to help limit the
impact of foreign exchange inflows to Turkey on the strong lira,
which makes exports more expensive and imports cheaper, widening
the country’s already yawning current account deficit.

May 16, 2013

Turkish central bank seen cutting rates to spur growth, tame lira

ISTANBUL, May 16 (Reuters) – The Turkish central bank is set
to cut key interest rates on Thursday to boost the faltering
economy and stop cash from stimulus measures in Japan and other
rich economies fuelling a further rise in the lira.

Other central banks, including those of South Korea,
Australia and Israel, have also lowered rates in recent weeks to
weaken their currencies and keep exports competitive to protect
growth in the face of aggressive monetary easing elsewhere.

May 5, 2013

Galatasaray seal 19th Turkish title

ISTANBUL (Reuters) – Galatasaray clinched their 19th Turkish league title with a 4-2 win over Sivasspor on Sunday, crowning a successful season in which they reached the quarter-finals of the Champions League.

Fans of the club filled the streets of Istanbul, sounding car horns, setting off flares and waving flags in the club’s red-and-yellow colours as they sang in the city’s squares.

    • 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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