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Sep 18, 2013

Analysis: Turkey’s ‘worthy solitude’ sidelines Erdogan in Middle East

ISTANBUL (Reuters) – Clinging to calls for military action in Syria and wedded to his backing for Egypt’s ousted Islamist president, Turkish Prime Minister Tayyip Erdogan cuts an increasingly lonely figure in a region whose future he still hopes to help shape.

Finding himself in what one adviser calls “worthy solitude”, Erdogan risks alienating some important Gulf investors in Turkey as well as weakening his diplomatic clout with international powers and Egypt’s new military-backed rulers.

Sep 13, 2013

Turkish business dynasties accused of backing ‘post-modern coup’

ISTANBUL (Reuters) – A lawyer accused two of Turkey’s corporate dynasties on Friday of backing the 1997 military overthrow of its first Islamist-led government, sending their shares tumbling on fears of a deepening vendetta against the country’s secular business elite.

Shares in family-run conglomerates Dogan Holding and Koc Holding fell nearly 8 percent and more than 3 percent respectively after lawyer Mustafa Polat filed a complaint against them in a trial of alleged plotters.

Aug 30, 2013

Turkish PM says Syria intervention should aim to end Assad rule

ANKARA (Reuters) – Turkish Prime Minister Tayyip Erdogan said on Friday that any international military intervention against Syria should be aimed at bringing an end to the rule of Syrian President Bashar al-Assad.

The comments from Erdogan, long one of Assad’s fiercest critics, came as U.S. President Barack Obama said he was considering a narrow, limited U.S. response to last week’s chemical weapons attack in Syria.

Aug 29, 2013

Tofas CEO sees flat Turkish auto market despite headwinds

ISTANBUL, Aug 29 (Reuters) – Turkish auto sales will reach
around 820,000 vehicles in 2013, almost unchanged from last
year, the chief executive of automaker Tofas said on
Thursday, while the European market will see a more marked
improvement from 2015.

Tofas, which makes light commercial vehicles for Italy’s
Fiat and France’s PSA Peugeot Citroen, is
sticking for now to its 2013 production and export targets of
255,000 and 160,000 vehicles respectively.

Aug 27, 2013

Turkish central bank says won’t defend lira with interest rates

ISTANBUL, Aug 27 (Reuters) – Turkish Central Bank Governor
Erdem Basci said on Tuesday he did not intend to hike interest
rates to defend a sliding lira, which hit record lows on concern
about the outlook for U.S. stimulus and the conflict in
neighbouring Syria.

In an interview with the state-run Anadolu news agency (AA),
Basci said the central bank had $40 billion in reserves which
it could use to shore up the lira and would intervene
defensively as needed to reduce exchange rate volatility.

Aug 16, 2013
via FaithWorld

Reclusive preacher Fethullah G├╝len holds sway over Turkish politics

Photo

(Islamic preacher Fethullah Gulen is pictured at his residence in Saylorsburg, Pennsylvania in this December 28, 2004 file photo. REUTERS/Selahattin Sevi/Zaman Daily )

A rare defense from a secretive Islamic movement of its role in Turkish political life has exposed a rift with Prime Minister Tayyip Erdogan that could weaken one of modern Turkey’s most powerful leaders.

Aug 16, 2013

Reclusive preacher holds sway over Turkish politics

ISTANBUL (Reuters) – A rare defence from a secretive Islamic movement of its role in Turkish political life has exposed a rift with Prime Minister Tayyip Erdogan that could weaken one of modern Turkey’s most powerful leaders.

The spell of Fethullah Gulen, a 72-year-old U.S.-based Islamic preacher with a global network of schools, whose supporters say they number in the millions, has long loomed large over Turkey’s constitutionally-secular state.

Aug 16, 2013

Analysis: Reclusive preacher holds sway over Turkish politics

ISTANBUL (Reuters) – A rare defense from a secretive Islamic movement of its role in Turkish political life has exposed a rift with Prime Minister Tayyip Erdogan that could weaken one of modern Turkey’s most powerful leaders.

The spell of Fethullah Gulen, a 72-year-old U.S.-based Islamic preacher with a global network of schools, whose supporters say they number in the millions, has long loomed large over Turkey’s constitutionally-secular state.

Jul 29, 2013

Lira stability key as Turkish central bank enters tightening cycle

ISTANBUL, July 29 (Reuters) – A need to defend the lira to
fight inflation and to protect the balance sheets of a private
sector with high levels of foreign borrowing means Turkey’s
central bank is likely to be in a tightening cycle for the
foreseeable future.

Many economists expect the bank to raise its year-end
inflation forecast of 5.3 percent when it releases its latest
quarterly inflation report on Tuesday.

Jul 21, 2013

Erdogan puts Turkish policymakers in dilemma

ISTANBUL (Reuters) – With a powerful prime minister bent on pumping up growth ahead of elections but a sliding currency and rising borrowing costs, Turkish policymakers are caught between a rock and a hard place.

Rattled by weeks of anti-government protests and with a peace initiative for Kurdish militants looking increasingly fragile, the last thing Prime Minister Tayyip Erdogan needs with an election cycle starting next year is an economic slowdown.

    • About Nick

      "Based in Lagos since early 2008, responsible for coverage of Africa's most populous nation. Previously based in Senegal for four years, covering West and Central Africa, and before that in Germany and Britain."
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