Turkish economy

As Turkey reaches highest inflation in 14 years, President Erdoğan is in fight with rating agencies: ” ‘impostors’ and ‘racketeers’

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Fitch cuts growth forecast for Turkey, warns of downside risks  Hurriyet Daily News Fitch Ratings has slashed its outlook for economic growth in Turkey, citing mainly the Turkish Lira’s fall, and warned of “significant and widespread downside risks.” Erdogan labels rating agencies as ‘impostors’ and ‘racketeers’ AL JAZEERA ENGLISH (IN DEPTH) Scathing comments come after two agencies … Read more

Guess Why. “Number of green card lottery entrants from Turkey rises 49 percent in two years…

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Number of green card lottery entrants from Turkey rises 49 percent in two years Hurriyet Daily News The number of entries from Turkey for the green card lottery, officially known as the Diversity Visa (DV) lottery, increased to 204,729 in 2018 from 137,146 in 2016, data from the United States Department of State shows. How to Save … Read more

When in crisis both Turkey and Venezuela believe “Digital economy can help ‘break the privilege of some currencies’…

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Venezuela has already started its not much reliable cryptocurrency, Turkey has no plans for that yet… Digital economy can help ‘break the privilege of some currencies’: Turkish minister Hurriyet Daily News The privilege of some currencies can be cut by utilizing the tools of digital economy, Turkish Technology and Industry Minister Mustafa Varank said on Aug. … Read more

Hmmm a Rand Report: “Russia’s Use of Media and Information Operations in Turkey

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Russia’s Use of Media and Information Operations in Turkey  RAND: Latest Publications from RAND by Katherine Costello This Perspective assesses how Russia has used media and information operations to support its foreign policy goals related to Turkey. *********** Turkey slams French president over EU accession process Hurriyet Daily News Turkey has slammed French President Emmanuel Macron over his … Read more

Boycott, Turkish Style…

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Why has Turkey’s currency collapsed? – video World news: Turkey | guardian.co.uk Turkey is on the verge of an economic crisis. The country’s currency hit a record low, dropping by more than 40%. Turkish president Recep Tayyip Erdoğan is pointing the finger at the US. Although US sanctions and tariffs contributed to the lira’s retreat, many … Read more

In the meantime, “S&P, Moody’s lower Turkey’s ratings…

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S&P, Moody’s lower Turkey’s ratings  Hurriyet Daily News Two major global ratings agencies lowered Turkey’s ratings Aug. 17, saying they could be upgraded with certain economic improvements. Emerging markets: who’s taking the biggest hits and why? World news: Turkey | guardian.co.uk by Phillip Inman Trump trade tariffs and higher borrowing costs are causing problems from Turkey to China … Read more

In a good news, Taner Kılıç of Amnesty released, as Turkey approaches EU “to buy some time before day of IMF reckoning

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Taner Kilic: Amnesty Turkish chair to be released from prison BBC News | Europe | World Edition After 14 months in prison on terrorism charges, human rights activist Taner Kilic will be released. Turkey buys time before day of IMF reckoning  World news: Turkey | guardian.co.uk by Nils Pratley Main elements of crisis remain unaddressed, with eventual bailout … Read more

Qatar comes to help, Turkey Rejects 2nd Appeal to Release U.S. Pastor Andrew Brunson and Turkish leaders saves the day…

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https://twitter.com/cahidelil/status/1029670965251387392?s=03 Of course, this seems to be a short period of saving face for Turkish leaders…  Qatar’s emir travels to Turkey in show of support Hurriyet Daily News The emir of wealthy Qatar flew to Turkey Wednesday to meet close ally President Recep Tayyip Erdogan in an apparent show of support as Ankara grapples with a … Read more

Tragically funny boycott calls and “terror figures on social media plotting” while negotiations continue. Turkey might just release Pastor Brunson…

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Erdoğan says Turkey will boycott US electronic products  World news: Turkey | guardian.co.uk by Kareem Shaheen in Istanbul Turkish president issues defiant response amid slide in lira fuelled by standoff with US Recep Tayyip Erdoğan has said Turkey will boycott electronic products from the US, as he issued another defiant response to sanctions imposed in a dispute over … Read more

Bracing for impact (for a possible “Black Monday”) tomorrow… [ Volumes Surge on Turkey’s Crypto Exchanges as Lira Tanks]

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A selection of tweets below that might give the reader some clues… Volumes Surge on Turkey’s Crypto Exchanges as Lira Tanks CoinDesk Volumes Surge on Turkey’s Crypto Exchanges as Lira Tanks  CoinDesk Full coverage Erdogan: Alliance with US at risk, Turkey target of ‘trade war’ AL JAZEERA ENGLISH (IN DEPTH) Turkish president says his country will not back … Read more

As the currency crisis deepens, Turkish leaders put all the blame on foreign interventions…

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The son-in-law’s presentation today was utterly ridiculous. They are just making fun of citizens…  Erdogan calls on Turks to buy lira ‘in response to economic war’ – video  World news: Turkey | guardian.co.uk Recep Tayyip Erdoğan tried to restore confidence in the Turkish lira after it plunged by more than 20% against the dollar on Friday. The … Read more

Turkish leadership refuses to accept economic crisis as 1 USD reaches 5.50 TRY…

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Lira hits record low as Turkey-US concerns weigh The Turkish currency saw a new record low against the dollar on Aug. 9, hit by concern over uncertainties about whether a meeting between Turkey and the U.S. could heal their wide diplomatic rift. Holidays to Turkey rise as lira hits record low against pound World news: Turkey | … Read more

One of the toughest times in Turkey-US relations…

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In the tranquility of life in Irvine, CA, I am reading the news of Turkey and US relations that are going through one of the toughest times. And of course, like many citizens, I feel the heat through the rapid weakening of Turkish currency… Back in Turkey, Turkish leaders are quick to use US measures … Read more

1 USD reaches 4,80 TRY. “Lira slumps to new record lows as investor concerns escalate…

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Though Erdoğan Says, ‘Albayrak Took Economy Course’, Dollar Reaches 4.97 TRY Bianet :: English President Erdoğan explained why he has appointed his son-in-law Berat Albayrak as the Minister of Finance and Treasury by saying, “He worked in private sector and took a course on the subject.” However, the US dollar has continued to increase in value … Read more

#TurkeyElections – For taxi driver votes, Turkish government seems to have killed another global business, Uber, in Turkey [going after Booking.com, PayPal and -not for profit- Wikipedia…

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Legal blows to Uber raise taxi plate prices in Istanbul Hurriyet Daily News The average price of a taxicab license plate in Istanbul has increased 6.6 percent in just two days, after the city municipality declared its support for the government’s new regulation to prevent “illegal passenger transportation,” particularly aimed at Uber drivers. Uber ‘is over’ in … Read more