ISTANBUL, Aug 13 (Reuters) – The Turkish lira hit a record
low and stocks tumbled as much as 3 percent on Thursday after
coalition talks between the ruling AK Party and the main
opposition failed, setting the stage for a snap election and
more investor uncertainty.
Markets had been hoping the Islamist-rooted AKP would be
able to form a coalition with the centre-left, pro-business CHP
and avoid an early election.
ISTANBUL (Reuters) – Two attackers opened fire on the U.S. consulate building in Istanbul on Monday while 10 people were injured in a car bombing at a police station overnight, weeks after Turkey launched what it described as a “synchronized war on terror”.
Police armed with automatic rifles cordoned off streets around the U.S. consulate in the Sariyer district on the European side of the city, following the gun attack there.
ISTANBUL (Reuters) – Forced into battle against Islamic State as it presses on Turkey’s borders, President Tayyip Erdogan is seizing the chance to keep another foe in check, bombing Kurdish militants he sees as a threat to the integrity of the Turkish state.
Casting the operations as a war on terrorist groups “without distinction”, Turkey launched air strikes against Islamic State in Syria for the first time last week and granted the U.S.-led coalition access to its air bases after years of reluctance.
ISTANBUL, July 27 (Reuters) – Forced into battle against
Islamic State as it presses on Turkey’s borders, President
Tayyip Erdogan is seizing the chance to keep another foe in
check, bombing Kurdish militants he sees as a threat to the
integrity of the Turkish state.
Casting the operations as a war on terrorist groups “without
distinction”, Turkey launched air strikes against Islamic State
in Syria for the first time last week and granted the U.S.-led
coalition access to its air bases after years of reluctance.
ISTANBUL, July 2 (Reuters) – For the last four years,
Turkey’s central bank has announced an ambitious target of 5
percent annual inflation. Unfortunately, no one believes it
The central bank is due to release June inflation data
at 0700 GMT on Friday and economists are wagering
that for the fifth straight year, inflation will come in well
above the bank’s target.
ANKARA (Reuters) – Former Turkish President Suleyman Demirel, who was twice toppled by the military during seven stints as the head of government, died early on Wednesday, according to a hospital official and Turkish media. He was 90.
Demirel, who served as prime minister seven times through the 1960s to the 1990s and was president from 1993 to 2000, died at the Guven Hospital in Ankara, where he had been undergoing treatment for a respiratory tract infection, a hospital official told Reuters.
ISTANBUL (Reuters) – Turkish unemployment topped 10 percent in February-April, data showed on Monday, ticking higher from a year earlier and highlighting the weak state of an economy now hamstrung by political uncertainty.
President Tayyip Erdogan and the ruling AK Party he founded had been counting on a surge in domestic and overseas investment after the June 7 parliamentary election. But the AKP’s failure to win a majority has ended up increasing investor uncertainty.
ISTANBUL, June 8 (Reuters) – The Turkish lira tumbled to a
record low and stocks were hammered on Monday as investors
fretted over the possibility of a minority or coalition
government after the ruling AK Party failed to win a majority in
a parliamentary election.
The prospect of deepening political risk has further
undermined investor sentiment on Turkey, already seen as an
unattractive emerging market due to stalling economic growth,
high debt levels and a heavy reliance on external financing.
ISTANBUL (Reuters) – The Turkish lira hit a record low in weekend-thinned trade on Sunday, after the governing AK Party failed to win an outright majority in a parliamentary election, unsettling investors with the prospect of a minority or coalition government.
Investors had been hoping the AKP would squeak out enough votes to remain in power as a single party and avoid the uncertainty and gridlock of coalition politics.
ISTANBUL (Reuters) – Murat Dalga stands in a shop filled with everything but customers and swears he won’t be voting for Turkey’s ruling AK Party this time around.
“In 20 years I’ve never seen it so bad,” the 38-year-old electronics salesman said amid rows of televisions and fridges. “The AKP used to be the party of the working class, but not any more. They will definitely bleed this time.”