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☆ Christians in Turkey Pray for Return to the Ruins of Ancient Antioch
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Burcu Karakas and Ceyda CaglayanANTAKYA, Turkey (Reuters) - The Antioch Greek Orthodox Church brought Christians together in Turkey's Antakya for centuries until last year, when an earthquake killed dozens of them and sent hundreds more fleeing. Though it now lies in ruins, many pray it will again bring them back. The deadliest disaster in modern Turkey's history, the quake killed more than 53,000 people in Turkey and nearly 6,000 in Syria, and left millions homeless. 'PLEASE COME BACK'Some 370 Greek Orthodox families were living in Antakya before the 2023 quake but only 20 remain today, he told Reuters. David Cagan, 53, another member of the local Greek Orthodox community, said it was essential to rebuild the churches.

Persons: Burcu Karakas, Caglayan, Hurigil, Larina Balikcioglu, Antakya, David Cagan, Ali Kucukgocmen, Jonathan Spicer, Gareth Jones Organizations: Church, Orthodox Church Foundation of Antakya, Christian, Hatay Archeology Museum, Antioch Greek, Reuters Locations: Caglayan ANTAKYA, Turkey, Antioch, Antakya, Syria, Israel, Gaza, Ottoman Turks, Hatay, Russian, Hurigil, Mersin province

☆ Pro-Palestinian Crowds Try to Storm Air Base Housing U.S. Troops in Turkey
▼ + stars: | 2023-11-05 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

Incirlik, which has been used to support the international coalition fighting Islamic State in Syria and Iraq, also houses U.S. troops. Footage from the protests showed police firing tear gas and using water cannons to disperse crowds waving Turkish and Palestinian flags and chanting slogans. Protesters were also seen hurling plastic chairs, rocks, and other items at police, who fired smoke bombs at crowds. Scuffles broke out between the crowds and security forcesIHH President Bulent Yildirim addressed crowds in Adana and urged them to refrain from attacking police. (Reporting by Dilara Senkaya, Murad Sezer, Mehmet Emin Caliskan, and Ali Kucukgocmen; Writing by Tuvan Gumrukcu; Editing by Giles Elgood)

Persons: Dilara Senkaya, Mehmet Emin Caliskan, Antony Blinken, Israel, Scuffles, Bulent Yildirim, IHH, Hakan Fidan, Murad Sezer, Ali Kucukgocmen, Giles Elgood Organizations: Turkish, U.S, Hamas, Humanitarian Relief Foundation, Israel Locations: Mehmet Emin Caliskan ADANA, Turkey, Ankara, Gaza, Israel, Turkish, Adana, U.S, State, Syria, Iraq

[1/3] Turkish police use water cannons and tear gas to disperse Pro-Palestinian demonstrators during a protest against the U.S. and Israel near the Incirlik Air Base, which is housing U.S. troops, in Adana, southern Turkey November 5, 2023. Incirlik, which has been used to support the international coalition fighting Islamic State in Syria and Iraq, also houses U.S. troops. Footage from the protests showed police firing tear gas and using water cannons to disperse crowds waving Turkish and Palestinian flags and chanting slogans. Protesters were also seen hurling plastic chairs, rocks, and other items at police, who fired smoke bombs at crowds. Scuffles broke out between the crowds and security forcesIHH President Bulent Yildirim addressed crowds in Adana and urged them to refrain from attacking police.

Persons: Dilara, Antony Blinken, Israel, Scuffles, Bulent Yildirim, IHH, Hakan Fidan, Dilara Senkaya, Murad Sezer, Mehmet Emin Caliskan, Ali Kucukgocmen, Giles Elgood Organizations: Turkish, U.S, Incirlik, Base, REUTERS, Rights, Hamas, Humanitarian Relief Foundation, Israel, Thomson Locations: Israel, U.S, Adana, Turkey, Rights ADANA, Ankara, Gaza, Turkish, State, Syria, Iraq

[1/3] Yemenis gather during a pro-Palestinian protest to express solidarity with Palestinians in Gaza, in Sanaa, Yemen, October 20, 2023. Some demanded military action against Israel, others said Arab states should consider using other methods to stop the bombardment of Gaza. Egypt borders Gaza but has not been able to negotiate an opening of its crossing to allow in aid. Hundreds of people marched in central Tunis, a smaller protest than ones that have rallied there against Israel's Gaza campaign in recent days. On Iraq's border with Jordan, hundreds of supporters of Iran-backed paramilitary groups staged a sit-in to voice support for Gaza, brought in by bus.

Persons: Benjamin Netanyahu, Mohammed Gomaa, Souhail Ben Nasser, Netanyahu, Joe Biden, Marisa, Hussein Samir, Suleiman al, Nafisa Eltahir, Amina Ismail, Tarek Amara, Ali Kucukgocmen, Ahmed Eljechtimi, Angus McDowall, Daniel Wallis Organizations: Houthi Media, REUTERS, Israel, Gaza, U.S ., Indonesian, U.S, Iran, Bulent Usta, Thomson Locations: Gaza, Sanaa, Yemen, Jordan, Egypt, Turkey, Indonesia, Malaysia, India, AMMAN, CAIRO, Jakarta, Tunis, Israel, Palestinian, Beyazit, Palestine, Cairo, Morocco, Western Sahara, America, Asia, U.S, Kuala Lumpur, Jaipur, Mumbai, Iraq, Tehran, Baghdad, Iran, Khalidi, Amman, Nafisa, Istanbul, Rabat

Palestinian officials said the blast at Al-Ahli al-Arabi hospital was caused by an Israeli air strike. Israel blamed the blast on a failed rocket launch by the Palestinian Islamic Jihad group, which denied responsibility. Following the NSC's appeal, Israeli airlines arranged flights from Istanbul late on Wednesday for Israelis who want to leave Turkey. Protesters held fresh demonstrations near consulates of Israel and the United States in Istanbul on Wednesday evening. Political analysts said the Gaza hospital blast could have dire consequences for ties between Israel and Turkey.

Persons: Dilara, Israel, Tayyip Erdogan, Erdogan, Mert Ozkan, Huseyin Hayatsever, Daren Butler, Ali Kucukgocmen, Umit Bektas, Mehmet Emin Caliskan, Steven Scheer, Gareth Jones, Sandra Maler Organizations: REUTERS, Rights, Islamic, National Security Council, Istanbul, Police, Protesters, U.S, Embassy, NATO, Ece Toksabay, Bulent Usta, Thomson Locations: Al, Ahli, Gaza, Istanbul, Turkey, Rights ANKARA, Israel, Arabi, Ankara, Police, Turkey's, United States, U.S, Adana, Teneo, Jerusalem

☆ U.S. caver rescued in Turkey "blessed to be alive", but vows to keep caving
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

U.S. caver Mark Dickey, on a stretcher, is carried out of the Morca cave as his rescue operation comes to a successful end near Anamur in Mersin province, southern Turkey September 12, 2023. REUTERS/Umit Bektas/File photo Acquire Licensing RightsISTANBUL, Sept 14 (Reuters) - An American caver rescued after being trapped underground in southern Turkey for 11 days said on Thursday he was blessed to be alive after suffering a gastrointestinal bleed while 1,040 metres deep - but that he would go on exploring caves. Mark Dickey, 40, was rescued early on Tuesday after being trapped in the Morca cave in Mersin province's Taurus Mountains. More than 150 cave rescuers from Turkey, Croatia, Italy and other countries worked to rescue Dickey from Turkey's third-deepest cave, and Dickey said he had never lost hope. "Will I go back to Morca cave?

Persons: caver Mark Dickey, Umit, Mark Dickey, It's, Dickey, Will, Ali Kucukgocmen, Daren Butler, Kevin Liffey Organizations: REUTERS, Rights, Mersin City Hospital, Thomson Locations: Anamur, Mersin province, Turkey, Rights ISTANBUL, American, Mersin, Croatia, Italy, Turkey's

☆ US Caver Who Was Trapped 1,000 Metres Deep in Turkey May Be Rescued by Tuesday
▼ + stars: | 2023-09-11 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - An American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey has been moved closer to the surface and is expected to be rescued by Tuesday morning, rescuers said. Previous footage from the operation showed Dickey lying inside the cave and receiving treatment by a medical team. It is a very particular phase of the cave here because there are so many slopes it is a bit tricky," Giuseppe Conti, European Cave Rescue Association technical commission chairperson, told reporters. More than 150 rescuers from Turkey and other countries have been working for days to rescue him from the country's third deepest cave. "The rescue operation will continue from the -180 meters after Mark has rested at the camp here for a while.

Persons: Mark Dickey, Tulga Sener, Dickey, Sener, Mark, Giuseppe Conti, Conti, Ali Kucukgocmen, Aurora Ellis Organizations: Cave Rescue, Rescue Association, Speleological Federation of, Ece Locations: ANKARA, American, Turkey, Mersin, Cave, Speleological Federation of Turkey

☆ US caver rescued after days-long climb from 1,000 metres deep in Turkish cave
▼ + stars: | 2023-09-11 | by ( Ali Kucukgocmen | ) www.reuters.com time to read: +1 min

MERSIN, Turkey, Sept 11 (Reuters) - An American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey after falling ill was rescued early on Tuesday, Turkey's TUMAF caving federation said, after a days-long international rescue operation. "Dickey was removed from the last exit of the cave," TUMAF wrote on social media platform X, formerly known as Twitter. [1/4]Italian Alpine rescuers (CNSAS) carry U.S. caver Mark Dickey on stretcher as part of a rescue operation in Morca Cave in Mersin province, southern Turkey September 11, 2023. Italian Alpine Rescue/Handout via REUTERS Acquire Licensing Rights"Thus, the cave rescue part of the operation has ended successfully. Footage from previous phases of the operation showed Dickey lying inside the cave and receiving treatment by a medical team.

Persons: Mark Dickey, Dickey, TUMAF, caver Mark Dickey, Ali Kucukgocmen, Aurora Ellis, Sandra Maler Organizations: REUTERS Acquire, Ece Toksabay, Thomson Locations: MERSIN, Turkey, American, Mersin, Italian, Cave, Mersin province, Croatia, Italy

☆ US caver who became trapped 1,000 metres deep in Turkey is moved halfway to surface
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Umit Bektas Acquire Licensing RightsMERSIN, Turkey, Sept 10 (Reuters) - Rescuers raced on Sunday to rescue an American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey, moving him halfway to the surface. More than 150 rescuers from Turkey and other countries have been working for days to rescue him from the country's third deepest cave. "Our medical team is working really hard to try to keep Mark's condition as stable as possible. Since yesterday, we started lifting the stretcher and transporting him through the cave," Giuseppe Conti, European Cave Rescue Association technical commission chairperson, told reporters. Mark's medical condition right now is very good," said Tulga Sener, medical coordinator for the cave rescue commission.

Persons: caver Mark Dickey, Umit, Mark Dickey, Giuseppe Conti, Mark, Jessica Van Ord, Tulga Sener, Cenk, Dickey, Ali Kucukgocmen, Huseyin Hayatsever, Giles Elgood Organizations: REUTERS, Rights, Rescue Association, Bulent Usta, Thomson Locations: Anamur, Mersin province, Turkey, Rights MERSIN, American, Mersin, Cenk Yildiz

☆ US cave explorer trapped in Turkey will be out 'within several days,' governor says
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

[1/5] U.S. caver Mark Dickey is seen in Morca Cave, days before he fell ill and became trapped some 1,000 meters (3,280 ft) underground, near Anamur in Mersin province, southern Turkey August 28, 2023. REUTERS/Agnes Berentes Acquire Licensing RightsMERSIN, Turkey, Sept 9 (Reuters) - A team of rescuers are ready to start moving an American cave explorer trapped more than 1,000 metres (3,280.84 ft) underground in southern Turkey and will have him out "within several days," Mersin Governor Ali Hamza Pehlivan said on Saturday. More than 150 rescuers from Turkey and other nations have been working to save him from the country's third deepest cave. Footage from the operation showed Dickey lying inside the cave and receiving treatment by a medical team. "This is a vertical cave with a lot of water," Agnes Berentes, a photographer with Dickey on the mission, told Reuters.

Persons: caver Mark Dickey, Agnes Berentes, Ali Hamza Pehlivan, Mark Dickey, Pehlivan, Carl Heitmeyer, Dickey, Recep Salci, Ali Kucukgocmen, Huseyin Hayatsever, Richard Chang Organizations: REUTERS, Rights, New, Reuters, Thomson Locations: Cave, Anamur, Mersin province, Turkey, Rights MERSIN, American, Mersin, New Jersey

☆ US Cave Explorer Trapped in Turkey Will Be Out 'Within Several Days' -Governor
▼ + stars: | 2023-09-09 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

MERSIN, Turkey (Reuters) - A team of rescuers are ready to start moving an American cave explorer trapped more than 1,000 metres (3,280.84 ft) underground in southern Turkey and will have him out "within several days," Mersin Governor Ali Hamza Pehlivan said on Saturday. More than 150 rescuers from Turkey and other nations have been working to save him from the country's third deepest cave. "Depending on the developments at the stations in between, hopefully the evacuation will have been completed within several days," Pehlivan told reporters. Footage from the operation showed Dickey lying inside the cave and receiving treatment by a medical team. "This is a vertical cave with a lot of water," Agnes Berentes, a photographer with Dickey on the mission, told Reuters.

Persons: Ali Hamza Pehlivan, Mark Dickey, Pehlivan, Carl Heitmeyer, Dickey, Agnes Berentes, Recep Salci, Ali Kucukgocmen, Huseyin Hayatsever, Richard Chang Organizations: New, Reuters Locations: MERSIN, Turkey, American, Mersin, New Jersey

☆ 'I'm up, I'm alert,' says U.S. cave explorer trapped in Turkey
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

MERSIN, Turkey, Sept 8 (Reuters) - An American cave explorer trapped more than 1,000 metres underground in a cave in southern Turkey has recorded a video message to say he was up and alert after a team of rescuers reached him with medical supplies. More than 150 rescuers from Turkey and other nations have been working to save him. "Hi, I'm Mark Dickey from nearly a thousands metres," Dickey said in the message, dressed in a red puffer jacket and using a headlamp. "As you can see, I'm up, I'm alert, I'm talking. But I'm not healed on the inside yet, so I'm going to need a lot of help to get out of here," he said.

Persons: Mark Dickey, Dickey, I'm, Sener, Recep Salci, Salci, Ali Kucukgocmen, Daren Butler, Ros Russell Organizations: Emergency Management, REUTERS Acquire, Reuters, Thomson Locations: MERSIN, Turkey, American, Mersin, Turkish, Anamur, Mersin province

☆ Rescuers race to save ill US cave explorer trapped 3,000 feet underground
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Mark Dickey, the U.S. caver who is currently trapped near Morca, poses in Mentone, Alabama, U.S., May 12, 2023. National Cave Rescue Commission (NCRC)/Handout via REUTERS/File photo Acquire Licensing RightsMERSIN, Turkey, Sept 7 (Reuters) - More than 150 rescuers raced on Thursday to reach an American man who fell ill and became trapped some 1,000 metres (3,280 ft) underground in a cave he was exploring in southern Turkey. Mark Dickey, 40, was on an international exploration mission in the Morca cave in the Taurus mountains when he began suffering gastrointestinal bleeding, Turkey's TUMAF caving federation said in a statement. "Several international teams, including Croats and Italians, are aiding in the operations. Footage from the rescue operation showed Turkish and international teams setting up tents and cables outside the sinkhole, Turkey's third-largest, which is at an altitude of 2,140 metres (7,020 ft).

Persons: Mark Dickey, Bulent Genc, Genc, TUMAF, Dickey, Ali Kucukgocmen, Helen Popper Our Organizations: Rescue, REUTERS, Rights, Reuters, Turkish, Thomson Locations: U.S, Mentone , Alabama, Rights MERSIN, Turkey, American

☆ Turkey's Erdogan to visit Russia 'soon' to discuss grain deal
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Russia's President Vladimir Putin and Turkey's President Tayyip Erdogan meet on the sidelines of the 6th summit of the Conference on Interaction and Confidence-building Measures in Asia (CICA), in Astana, Kazakhstan October 13, 2022. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS Acquire Licensing RightsISTANBUL, Aug 28 (Reuters) - Turkish President Tayyip Erdogan will visit Russia soon to discuss the collapsed United Nations deal that had allowed Black Sea exports of Ukrainian grain, a spokesperson for Turkey's ruling AK Party said on Monday. Ankara is seeking to persuade Russia to return to the agreement, under which Odesa's seaports shipped tens of millions of tons of grain. Omer Celik, the AK Party spokesperson, said Erdogan would visit Russia's Black Sea resort of Sochi "soon" but did not specify whether he would meet Russian President Vladimir Putin. "After this visit there may be developments and new stages may be reached regarding" the grain deal, he told reporters.

Persons: Vladimir Putin, Tayyip Erdogan, Vyacheslav Prokofyev, Moscow, Omer Celik, Erdogan, Putin, Ali Kucukgocmen, Jonathan Spicer, Conor Humphries Organizations: Sputnik, REUTERS Acquire, Rights, United Nations, AK, UN, AK Party, Bloomberg, Thomson Locations: Asia, Astana, Kazakhstan, Rights ISTANBUL, Russia, Turkey, Ankara, Sochi, India

The surprise move leaves the policy rate at its highest level since 2019, and sent the Turkish currency to its strongest level since mid-July. The bank has raised its one-week repo rate (TRINT=ECI) by 1,650 basis points since June. The lira had touched new all-time lows almost daily in recent weeks, including in the minutes before the policy decision. The central bank said that rising oil prices and a deterioration in inflation expectations suggests that inflation will end the year at the upper bound of its forecasts. The central bank has also selectively tightened credit.

Persons: Tayyip Erdogan, Piotr Matys, Dado Ruvic, Erdogan, Hafize Gaye Erkan, Osman Cevdet Akcay, Fatih Karahan, Hatice, Ezgi Erkoyun, Christina Fincher, Angus MacSwan Organizations: Analysts, Istanbul bourse, Touch, Turkey Lira, REUTERS, Wall Street, Thomson Locations: ISTANBUL, Istanbul, Ankara

The biggest contribution to the sharp rise in the 2023 forecast came from forecasts deviations and a change in forecasting approach. "The central bank did not only provide an inflation forecast that is in line with economists predictions but... the emphasis in the report very much matched those of the market. We had not seen this from the central bank in many years. CENTRAL BANK INDEPENDENCEEconomists expect the policy rate to rise further to 25% by year-end, still leaving real rates negative. "Defining interest rate hikes as sufficient or insufficient can only be done after inspecting the intricacies of this holistic approach," she said.

Persons: Hafize Gaye Erkan, Erkan, Nilufer Sezgin, Sahap Kavcioglu, Erdogan, Ali Kucukgocmen, Daren Butler, Andrew Heavens, Bernadette Baum Organizations: Wall Street, CENTRAL, Ece Toksabay, Thomson Locations: ANKARA, Ankara

☆ Turkey raises euro rate for medicine prices by 30.5%
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: 1 min

ANKARA, July 23 (Reuters) - Turkey has raised the euro-lira conversion rate for medicine prices by 30.5% to 14.0387 lira per euro, the country's Official Gazette showed on Sunday. The updated conversion rate is nearly half the market rate, with the lira standing at 29.9727 against the euro at Friday's close . The increase in medicine prices could further stoke inflation, which is already expected to rise more this year due to the lira's deprecation and recent tax hikes introduced by Ankara. Economists are revising their end-2023 inflation forecasts to around 60% from 38.21% in June. Reporting by Ali Kucukgocmen; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Ali Kucukgocmen, Hugh Lawson Organizations: Thomson Locations: ANKARA, Turkey, stoke, Ankara

Saudi state-run al-Ekhbariya television showed several Saudi officials welcoming Erdogan as he arrived at the venue of a Saudi-Turkish business forum in the Red Sea city of Jeddah. Erdogan is expected to meet with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, later on Monday. "Turkey will have a serious investment opportunity in the defence industry, infrastructure and superstructure investments in the three countries," he said. Ekhbaria carried live footage showing Saudi Investment Minister Khaled al-Falih addressing dozens of businessmen from both sides at the Saudi-Turkish business forum in Jeddah. Turkey's budget deficit surged to 219.6 billion lira ($8.37 billion) in June, seven times the deficit a year earlier, data showed on Monday.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Ekhbaria, Khaled al, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Yilmaz, Huseyin Hayatsever, Ali Kucukgocmen, Daren Butler, Aziz El Yaakoubi, William Maclean Organizations: Saudi Crown, . Investments, United, Turkish, Saudi Investment, Thomson Locations: ISTANBUL, RIYADH, Saudi Arabia, Turkey, Saudi, Turkish, Red Sea, Jeddah, Ankara, United Arab Emirates, Istanbul, Qatar, UAE, Nahyan

☆ Turkey increases fuel tax as it bolsters stretched budget
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +2 min

ANKARA, July 16 (Reuters) - Turkey raised tax on petrol on Sunday to help to fund a 1.12 trillion lira ($42.2 billion) increase to its 2023 budget after February's earthquakes and the May presidential election sent spending soaring. The wider deficit was largely because of increased spending ahead of May elections, when President Tayyip Erdogan was elected for a third term, as well as on rebuilding work after the earthquakes in southern Turkey. The earthquakes, which killed more than 50,000 people, are expected to cost Turkey more than $100 billion in total. In the latest step to strengthen the Treasury's cash reserves, the tax rate for gasoline was increased to 7.52 lira per litre from 2.52 lira ($0.1) while tax on diesel oil rose to 7.05 lira from 2.05 lira. The 1.12 trillion lira boost to Ankara's budget was approved by parliament on Saturday and follows various other recent tax increases among efforts to bolster government coffers, including a two percentage point increase to VAT.

Persons: Tayyip Erdogan, Ali Kucukgocmen, Diane Craft, David Goodman Organizations: stoke, Ece Toksabay, Thomson Locations: ANKARA, Turkey

☆ Erdogan says he is in agreement with Putin that grain deal should be extended
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, July 14 (Reuters) - Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir Putin that a deal allowing the Black Sea export of Ukraine grain should be extended. Speaking to reporters, Erdogan said that the deal will hopefully be extended from its current July 17 deadline as results of the efforts by the United Nations and Turkey. The European Commission is helping the United Nations and Turkey try to extend the grain deal and is open to "explore all solutions", a European Union spokesperson said on Thursday. The U.N. and Turkey brokered the Black Sea Grain Initiative with Russia and Ukraine in July 2022 to help alleviate a global food crisis worsened by Moscow's invasion and blockade of Ukrainian ports. Ukraine and Russia are among the world's leading grain exporters.

Persons: Tayyip Erdogan, Vladimir Putin, Erdogan, Huseyin Hayatsever, Ali Kucukgocmen, Alison Williams Organizations: Black, United, European Commission, European Union, Ece Toksabay, Thomson Locations: ISTANBUL, Ukraine, United Nations, Turkey, Russia, Ukrainian

☆ Erdogan links Sweden's NATO membership to Turkey's EU accession
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

Turkey's bid to join the EU has been frozen for years after membership talks were launched in 2005 under Erdogan's first term as prime minister. In a surprise change of tack, Erdogan on Monday linked Ankara's approval of Sweden's NATO bid to Turkey finally joining the EU. Sweden and Finland applied for NATO membership last year, abandoning policies of military non-alignment that had lasted through the decades of the Cold War in response to Russia's invasion of Ukraine. While Finland's NATO membership was green-lighted in April, Turkey and Hungary have yet to clear Sweden's bid. Erdogan also said that an end to the war between Ukraine and Russia would ease Kyiv's NATO membership process.

Persons: Tayyip Erdogan, Turkey's, Erdogan's, Erdogan, Huseyin Hayatsever, Ali Kucukgocmen, Toby Chopra, Alex Richardson Organizations: Union, NATO, EU, European Union, Kurdistan Workers Party, Ece Toksabay, Thomson Locations: ISTANBUL, Ankara, Turkey, Vilnius, Sweden, Finland, Ukraine, Hungary, Stockholm, Madrid, United States, Russia

☆ Turkish lira briefly touches new record low
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: 1 min

ISTANBUL, June 27 (Reuters) - Turkey's lira touched a record low of 26.10 against the dollar early on Tuesday during low liquidity hours, after an official and bankers said the central bank had stopped using its reserves to support the currency. The lira had firmed slightly by 0437 GMT, standing at 26.05, unchanged from its closing level on Monday. It has weakened more than 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan, who has since moved to backtrack on his years of unorthodox economic policy. Reporting by Ali Kucukgocmen; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Ali Kucukgocmen, Kim Coghill Organizations: Thomson Locations: ISTANBUL, backtrack

☆ Turkey's Erdogan, Greece's Mitsotakis to meet at July NATO summit
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] Newly elected Greek Prime Minister and Leader of New Democracy conservative party Kyriakos Mitsotakis attends the handover ceremony at the Maximos Mansion in Athens, Greece, June 26, 2023. REUTERS/Louiza VradiISTANBUL/ATHENS, June 26 (Reuters) - Turkish President Tayyip Erdogan and Greek Prime Minister Kyriakos Mitsotakis will meet on the sidelines of a NATO summit in Vilnius next month, Mitsotakis' office said on Monday, a day after he won a national election. Mitsotakis was sworn in for a second term as prime minister on Monday following a resounding election win. Ergodan, who was elected to his third term last month, congratulated Mitsotakis in a phone call, the Turkish Presidency said on Monday. Reporting by Ali Kucukgocmen and Lefteris Papadimas Editing by Chris Reese and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kyriakos Mitsotakis, Tayyip Erdogan, Mitsotakis, Ergodan, Ali Kucukgocmen, Chris Reese, Sandra Maler Organizations: Greek, New Democracy, REUTERS, Louiza Vradi, NATO, Thomson Locations: Athens, Greece, Louiza, Louiza Vradi ISTANBUL, ATHENS, Vilnius, Turkish, Turkey, Cyprus

☆ Smaller-than-expected Turkey rate hike hits lira, bonds
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 22 (Reuters) - Turkey's new central bank governor Hafize Gaye Erkan delivered a smaller-than-expected interest rate hike at her first rate meeting on Thursday, sending the lira and the country's dollar-denominated sovereign bonds sharply lower. The bank lifted its key rate 650 basis points to 15% compared to the median of 21% expected in a Reuters poll. "On the other hand they are promising more tightening ahead... so you have to give them the benefit of the doubt." "I am more worried about the medium-term outlook which is likely to see further lira depreciation. TIM ASH, EM SENIOR SOVEREIGN STRATEGIST, BLUEBAY ASSET MANAGEMENT"Ouch - disappointing.

Persons: Hafize Gaye Erkan, PIOTR MATYS, Erkan, Erdogan, PETER KISLER, JON HARRISON, Amruta Khandekar, Ali Kucukgocmen, Marc Jones, Libby George, Karin Strohecker, Hugh Lawson Organizations: Thomson

The central bank said inflation will come under further pressure. Erdogan said last week he approved the steps Simsek would take with the central bank, suggesting he had given the green light to rate hikes. The central bank's key rate remains below deposit rates that reach up to 40% and real rates are still deeply negative. The central bank's net reserves fell to a record low of negative $5.7 billion last month. Authorities hope foreign investors and hard currency will return after a years-long exodus, potentially reducing the central bank's need to intervene to keep the lira stable.

Persons: Tayyip Erdogan's, Hafize Gaye Erkan, Erkan, Erdogan, Mehmet Simsek, Piotr Matys, Ezgi Erkoyun, Ali Kucukgocmen, Christina Fincher, Daren Butler Organizations: Reuters Graphics, Wall Street, InTouch, Reuters, Thomson Locations: ISTANBUL, Ankara

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