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☆ Turkey is the latest country to launch a digital nomad visa—find out if you qualify and where to apply
▼ + stars: | 2024-04-25 | by ( Celia Fernandez | ) www.cnbc.com time to read: 1 min

Turkey is the latest European country to launch a digital nomad visa. The Turkish Culture and Tourism Ministry announced it is accepting applications from eligible applicants between the ages of 21 and 55. There is only one country in Asia on that list — Russia. In addition, applicants must have a university degree, be employed or self-employed, or have a business contract for a company outside of Turkey. Applicants will also need a passport or a travel document that is valid for at least six months from the date of arrival in Turkey.

Organizations: and Tourism Ministry Locations: Turkey, Turkish, U.S, Canada, Europe, Asia, Russia

☆ Turkey may soon put its controversial Russian S-400 air defenses in operation
▼ + stars: | 2024-04-22 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Turkey may deploy its Russian S-400 Triumf air defenses on the Iraqi border. Turkiye newspaper reported earlier this month that Turkey's S-400s may be deployed on the border, implying it will defend against drones allegedly acquired by the PKK. Since then, there has been no indication that Turkey's S-400s have been put into operation. "However, Turkey may use the potential threat of Iran-linked militia groups or PKK as a pretext to deploy S-400s." "Such a goal was unattainable and unrealistic given the extent of Turkey's integration into the NATO defense system," Ozeren said.

Persons: —, Hulusi Akar, Ali Bakir, Bakir, Suleyman Ozeren, Ozeren, Recep Tayyip Erdogan's, State Victoria Nuland Organizations: Service, Kurdistan Workers ' Party, PKK, Defense, Ibn Khaldon, Security Initiative, Business, Northern, American University, Orion Policy Institute, NATO, State Locations: Turkey, Russian, Israel, Iran, Iraqi Kurdistan, Ankara, Washington, Turkish, Qatar, Northern Iraq, Turkey's, Iraq, Moscow, Russia, NATO

☆ Here's what Apple will say if a US TikTok ban becomes law
▼ + stars: | 2024-04-19 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Apple just removed WhatsApp, Signal, and other messaging apps from its Chinese app store. But it could happen in the US, too, if a TikTok ban bill becomes law. It's from an unidentified Apple comms person, to The Wall Street Journal, explaining why Apple just took four messaging/social media apps — WhatsApp, Threads, Signal, and Telegram — out of its Chinese app store. If the TikTok bill does become law, it won't make TikTok go away overnight in the US. But if the law jumps enough hurdles to become enforceable, Apple would have to remove TikTok from its US app store, as would Google.

Persons: —, Apple, You've, Hasan Minhaj's, Joe Biden, TikTok Organizations: Apple, Big Tech, Service, Wall Street, Netflix, Facebook, Google Locations: China, Hong Kong, America, Ukraine, Israel

☆ Inside a $200 million ghost town in Turkey filled with castles reminiscent of Disneyland — minus all the people
▼ + stars: | 2024-04-12 | by ( Monica Humphries | Aria Bendix | ) www.businessinsider.com time to read: +1 min

The Burj Al Babas is an abandoned ghost town in Turkey filled with Disneyland-like castles. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA town of castles called the Burj Al Babas in northwest Turkey was originally designed to draw foreign vacationers. Today, 587 villas sit empty, forming a ghost town, Yes Theory reported. Take a look inside.

Persons: Babas, —, Al Babas Organizations: Burj, Service, The New York Times Locations: Turkey, Al Babas, Al, The

☆ 'Drone hunting drones' are already impacting Middle East conflicts
▼ + stars: | 2024-04-10 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Iran's 538 loitering missile is designed to intercept low-flying drones. The 358 missiles confiscated by the US Navy were powered by small gas turbine engines made by a Dutch company. "As air defense systems increase in power and effectiveness, it will mark a new challenge to drone systems that have long had command of the air," Rogers said. A US Central Command handout shows one of the Iranian-made 538 loitering missile seized by the USS Forrest Sherman in November 2019. CENTCOM'Drone hunting drones'A report in March speculates that Turkey's arch-foe, the Kurdistan Workers' Party or PKK group, may have acquired Iranian Meraj loitering missiles.

Persons: —, James Patton Rogers, Rogers, Ryan Bohl, RANE, Bohl, USS Forrest Sherman Organizations: Service, US Navy, Cornell Brooks Tech, Institute, Cornell University, American Warfare, Saudi, US, Pentagon, East, Command, USS, Kurdistan Workers ' Party, Turkish Locations: Iran, Yemen, Lebanon, Iran's, Dutch, Turkey, North Africa, Kurdistan, Iraq, Tehran

☆ 5 desserts for celebrating Eid al-Fitr
▼ + stars: | 2024-04-09 | by ( Jocelyn Solis-Moreira | ) edition.cnn.com time to read: +4 min

Ramadan is coming to an end, which means it’s time to plan to celebrate Eid al-Fitr. A number of desserts make up the table during Eid al-Fitr. Arindam Dey/AFP/Getty ImagesA classic Eid al-Fitr dish is sheer khurma. Helou said these desserts are eaten all year round, but they are ever more present during Ramadan and Eid. iStockphoto/Getty ImagesA popular Eid al-Fitr dish is a sweet milk-based dumpling called rasmalai.

Persons: Ramadan, Eid, Sweets, Anissa Helou, Ma’amoul, ” Helou, Arindam Dey, Helou, Mehmet Akif Parlak, “, ”, it’s, Karolia, James Nielsen, Jocelyn Solis, Moreira Organizations: CNN, Getty, Anadolu Agency, Houston Chronicle Locations: Syria, Jordan, Lebanon, Palestinian, Agartala, India, AFP, Gaziantep, New York

☆ Turkey's inflation climbs to 68.5% despite continued rate hikes
▼ + stars: | 2024-04-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Cagla Gurdogan | ReutersTurkey's annual inflation rose to 68.5% for the month of March, an increase on February's 67.1% inflation read, according to the Turkish Statistical Institute's report released Wednesday. Turkey has launched a concerted effort to tackle soaring inflation with interest rate hikes, most recently raising the country's key rate from 45% to 50% in late March. watch nowMuch of the inflation in recent months stems from a significant increase to the minimum wage that Turkey's government mandated for 2024. Economists expect further rate hikes from the central bank will be necessary. Turkey's central bank implemented eight consecutive interest rate hikes from June 2023 to January 2024, totaling a cumulative 3,650 basis points.

Persons: Cagla Gurdogan, Nicholas Farr, Istanbul Mayor Ekrem Imamoglu, Umit Bektas Organizations: Reuters, Economics, Istanbul Mayor, Republican People's Party Locations: Ankara, Turkey, Europe, London, Istanbul Metropolitan, Istanbul

☆ It's too early to write off Turkey's Erdogan, consultancy says
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's too early to write off Turkey's Erdogan, consultancy saysWolfango Piccoli, co-president, political risk advisory at Teneo, discusses Turkey's opposition victory across several major cities in the country's local elections Sunday, which dealt a severe blow to President Recep Tayyip Erdogan's ruling party.

Persons: Turkey's Erdogan, Wolfango Piccoli, Recep Tayyip Erdogan's

☆ Israeli troops leave Gaza's Shifa Hospital a wreck in sea of rubble
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +2 min

Israeli forces have withdrawn from Al Shifa Hospital in Gaza City after a two-week operation, the Israeli military said on Monday, leaving behind a wasteland of destroyed buildings and Palestinian bodies scattered in the dirt of the complex. The Israeli military said it had killed and detained hundreds of gunmen in clashes in the area of the hospital, and seized weaponry and intelligence documents. "The place is destroyed, buildings have been burnt and destroyed. This place needs to be rebuilt - there is no Shifa hospital anymore," Basel said. Israel said operations inside Al Shifa had been conducted "while preventing harm to civilians, patients and medical teams."

Persons: Samir Basel, Al Shifa, Israel Organizations: Al Shifa, Palestinian Hamas, Civil Emergency Service, Reuters Locations: Gaza City, Gaza, Israel, Palestinian, Basel

☆ Turkey's opposition party just won the local elections. It could prompt a change in the country's relationship with Russia.
▼ + stars: | 2024-04-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Turkey's President's AK Party lost major local elections in Istanbul and Ankara. AdvertisementThe Turkish party led by President Recep Tayyip Erdoğan suffered big losses in local elections held on Sunday. But an opposition victory in the majority of the largest Turkish cities would have "a dampening effect on President Erdoğan's prestige at home," they wrote. Advertisement"The extent to which President Erdoğan can exercise his personal power at home will be a crucial factor that determines Turkey's international behavior," they added. To be sure, the elections on Sunday were local — Erdoğan already won the presidential election in May, securing another term for five years.

Persons: Turkey's, —, Recep Tayyip Erdoğan, Ekrem Imamoğlu, Erdoğan, Vladimir Putin —, Putin, Marc Pierieni, Francesco Siccardi, Erdoğan's, Russia —, Hakan Akbas, Albright, Erdogan Organizations: Turkey's President's AK Party, Service, CHP, Reuters, AK Party, AFP, NATO, Erdoğan's AK Party, Turkish, Carnegie, West, Sunday, AK, Group, AK Party's Locations: Istanbul, Ankara, Russia, Turkey, Carnegie Europe, Ukraine, Moscow, Europe, —

☆ Turkey's local elections — and whoever wins Istanbul — could dictate the future of the country
▼ + stars: | 2024-03-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty ImagesTurkish President Recep Tayyip Erdogan once said that whoever wins Istanbul wins Turkey. This is odd but also shows how important it is to win Istanbul," Tunca said. Major Turkish cities like Istanbul and the capital Ankara will be key races to watch. Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey.

Persons: Recep Tayyip Erdogan, Imamoglu, Erdogan, People's Party's, Murat Kurum, Arda Tunca, Volodymyr Zelenskiy, Tayyip Erdogan, Umit Bektas, Tunca, Kristin Ronzi, RANE, Erdogan's, Ekrem İmamoğlu, Hakan Akgun, Turkey's, Ronzi Organizations: Getty, Istanbul, sympathizing, Development Party, AK Party, Imamoglu, AK, CNBC, European Union, NATO, Reuters, Party, Imamoglu's CHP, Turkey's, CHP Locations: Istanbul, Turkey, Ukraine, Russia, Arab, Turkish, Ankara, East, North Africa

☆ Drones have turned the tables in recent African wars
▼ + stars: | 2024-03-16 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Drones recently supplied to Sudan by Iran are already making an impact in that country's brutal civil war. Similar types of drones played decisive roles in turning the tables in two previous African civil wars in recent years and could do so again. "It should come as no surprise that these drones are being used in wars around the world," Rogers told BI. In this context, drones are useful to achieve specific objectives, but they will not win the war alone," Rogers said. RANE's Dodd also credited Ethiopia's drone procurements for decisively "turning the tide" of the Tigray War.

Persons: —, Remi Dodd, RANE, it's, Dodd, James Patton Rogers, Rogers, Turkey's TB2, Loong, Debretsion Gebremichael, RANE's Dodd Organizations: Service, Business, Sudanese Armed Forces, Rapid Support Forces, United, Ethiopian, Tigray, Libyan National Army, Cornell Brooks Tech, Institute, Cornell University, American Warfare, Anadolu, Getty, Democratic Locations: Sudan, Iran, Iranian, Turkey, United Arab Emirates, Ethiopia, Libya, Tripoli, Omdurman, Tehran, Red, Yemen, Ukraine, Tigray War, Tigray, Addis Ababa, Ukrainian, New York, Donetsk, Nigeria, DRC, Democratic Republic of Congo, Burkina Faso

☆ Turkey opts for new tightening strategy after signaling a pause to hikes
▼ + stars: | 2024-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

A picture taken on August 14, 2018 shows the logo of Turkey's Central Bank at the entrance of its headquarters in Ankara, Turkey. Turkey's central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was over. The institution sent a directive to lenders, effective Friday, instructing them to put parts of their required lira reserves into blocked accounts. Economic data platform Emerging Market Watch posted on X, describing the central bank as taking "another tightening step via reserve requirements." "Last week the CBRT tightened restrictions on lira loan growth, a move that would likely have a similar impact to an interest rate hike."

Persons: That's, Arda Tunca, Dan Murphy Organizations: Turkey's Central Bank, Reuters, CNBC, Capital Economics, FX, Economics Locations: Ankara, Turkey, Turkey's, Istanbul, Turkish, London

☆ Western special ops activity is on the rise around a new US partner in a strategic but unstable area of the Mediterranean
▼ + stars: | 2024-03-15 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Read previewA former Russian partner who has drawn closer to the US in recent years has lately become something of a hub for Western special operations activity. The country's proximity to Israel, Gaza, and the Red Sea is important for special operations training. Naval Special Warfare Operators (SEALs) and Special Warfare Combatant-Craft Crewmen (SWCC) conduct live fire weapons training with Cypriot Underwater Demolition Command (MYK) forces near Limassol, Cyprus on Jan. 29, 2024. In 2015, Nicosia signed a deal with Moscow allowing Russian warships to access its ports for replenishment. AdvertisementFollowing Russia's invasion of Ukraine, Cyprus barred Russian warships from its ports and scrapped the 2015 agreement, something the US had demanded.

Persons: —, Bill Gallagher, Bill Carlisle, Jeff Butler, Butler, Gallagher Organizations: Service, US Navy SEALs, Warfare, Cypriot, Business, Naval, Craft, Cypriot Underwater, Command, US Navy, Navy, NFL, Super, White House, Cypriot National Guard, Turkish, New Jersey National Guard, Navy SEAL Locations: Russian, Cyprus, Gaza, Germany, Netherlands, Akrotiri, Yemen, Limassol, Levant, North Africa, Asia, Israel, East Coast, Russia, Nicosia, Moscow, Greece, Turkish Republic of Northern Cyprus, Turkey, Ukraine, Cypriot

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

☆ Turkey's Erdogan Calls for Pressure on Israel to Allow More Aid Into Gaza
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - Turkish President Tayyip Erdogan on Tuesday called for increased international pressure on Israel to ensure more humanitarian aid is allowed into Gaza, and said Ankara will increase its support during the Muslim holy month of Ramadan. "We all know very well that as long as attacks on Gaza and the siege continues, the amount of aid is not enough. Of course, pressure needs to be put on Israel for this," he added, referring to Egypt's border crossing with Gaza. Last week, Turkey's Kizilay (Red Crescent) sent its biggest aid shipment yet to Gaza, dispatching a ship carrying some 3,000 tons of food, medicine and equipment. Netanyahu said on Tuesday that Israel would press forward with its military campaign into Rafah in the southern Gaza Strip.

Persons: Tayyip Erdogan, Israel, Erdogan, Benjamin Netanyahu, Turkey's Kizilay, Netanyahu, Susan Fenton Organizations: Israel Locations: ANKARA, Israel, Gaza, Ankara, Ramadan, Turkey, Egypt, Western, Rafah

☆ Turkey, U.S. discuss Ukraine, Gaza, ways to improve ties, foreign minister says
▼ + stars: | 2024-03-09 | by ( ) www.cnbc.com time to read: +2 min

Turkish and U.S. officials held comprehensive talks about the wars in Ukraine and Gaza and various bilateral issues during meetings in Washington, Turkey's foreign minister said late on Friday. The NATO allies started the meetings, dubbed the Strategic Mechanism, on Thursday to discuss efforts to move beyond deep policy disagreements and improve cooperation in other areas. Turkish foreign minister Hakan Fidan said officials from the countries held several rounds of discussions on topics including Syria, the Ukraine, Gaza, defense industry cooperation, energy, and counterterrorism. Turkey is also deeply concerned over U.S. support for Kurdish militants in Syria, whom Ankara deems terrorists. He said Turkey was open to discussing the matter but Washington needed to be "open minded".

Persons: Hakan Fidan, Fidan, Antony Blinken, Jake Sullivan Organizations: NATO, U.S Locations: U.S, Ukraine, Gaza, Washington, Turkish, Syria, Ankara, Turkey, Kyiv, Moscow, Russian

☆ Turkish Opposition Disarray Lifts Erdogan's Hopes of Winning Back Istanbul
▼ + stars: | 2024-03-07 | by ( March | At A.M. | ) www.usnews.com time to read: +3 min

The alliance that helped propel Imamoglu to victory in Istanbul has since collapsed, and his nationalist and pro-Kurdish allies are fielding their own candidates this month. FRAGMENTED OPPOSITIONBut Imamoglu's hopes in Istanbul have been dented by the decision of the pro-Kurdish DEM Party and the Turkish nationalist IYI Party, whose voters supported him in 2019, to field their own candidates. Metropoll's latest survey showed support for Imamoglu among Kurdish voters had declined to 32% last month from 35% in January. Support among IYI party voters fell to 45% from 64%. Imamoglu has accused central government of hampering his delivery of services in Istanbul since 2019.

Persons: Tayyip Erdogan's, Ekrem Imamoglu, Erdogan, Imamoglu, pollsters MAK, Murat Kurum, pollster Murat Gezici, Kurum, Sencar, pollsters Metropoll, Imamoglu's, Ertan Aksoy, Canan Sevgili, Daren Butler, Gareth Jones Organizations: Birsen Altayli, AK Party, CHP, AKP, DEM Party, Turkish, IYI Party, Aksoy Research Locations: Birsen, Birsen Altayli ISTANBUL, Istanbul, Turkey's, Israel, Gaza, Ankara, Turkish, Imamoglu's, Turkey

☆ Automation helps insulate Rohlik from a bruising 2023 for the grocery delivery sector
▼ + stars: | 2024-03-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +6 min

Read previewInvestors couldn't get enough of grocery delivery startups during the pandemic. Rohlik is on a pathway to profitability and has broken even in several key cities, CEO Tomas Cupr told Business Insider. Advertisement"The online grocery industry didn't have the best year in 2023, but we're still growing, which is super positive," Cupr told BI. At least 19 grocery delivery startups were operating across Europe at the height of the market. "The grocery delivery market remains a challenging area in Europe.

Persons: —, Tomas Cupr, Cupr, we've, Turkey's, Germany's, Nalin Patel, Jan Hammer Organizations: Service, Venture, Business, Ventures Locations: Europe, Prague, Czechia, Hungary, Munich, London, Paris, Budapest, Vienna, Istanbul, New York

☆ A traditional Russian ally snubbed Moscow's latest fighter jets for competitors from Pakistan and Turkey
▼ + stars: | 2024-03-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Azerbaijan's biggest arms supplier has been Russia but it will likely acquire jets from elsewhere. AdvertisementThe small, oil-rich South Caucasus country of Azerbaijan has big plans to upgrade its modest fleet of fighter jets over the next decade. However, rather than turn to Russia, its traditional arms supplier for decades, Baku will likely acquire modern fighters from Pakistan and Turkey. "Neither Russia nor Western democracies are ideal suppliers, even though Russia has historically sold arms to Azerbaijan," Roblin told Insider. Turkey provided training and arms that enabled Azerbaijan to defeat Armenia's armed forces in the 2020 war over the Nagorno-Karabakh enclave.

Persons: —, Frederico Borsari, Borsari, Sebastien Roblin, Roblin, Armenia's, Sukhoi Su, Tatyana Makeyeva Azerbaijan's, China's, Armenian Su Organizations: Service, Thunder, Turkey's TF, Center for, Business, Azerbaijan, Russian, Pakistan Aeronautical, Chengdu Aircraft Corporation, REUTERS, Armenia, Azerbaijan's MiG Locations: Russia, Moscow, Caucasus, Azerbaijan, Baku, Pakistan, Turkey, Pakistani, Ukraine, China, Armenia, Ankara, Nagorno, Karabakh, Zhukovsky, Soviet

☆ Turkish annual inflation soars to 67% in February
▼ + stars: | 2024-03-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Turkish annual consumer price inflation soared to 67.07% in February, the Turkish Statistical Institute said Monday, coming in above expectations. Analysts polled by Reuters had anticipated annual inflation would climb to 65.7% last month. The combined sector of hotels, cafes and restaurants saw the greatest annual price inflation increase at 94.78%, followed by education at 91.84%, while the rate for health stood at 81.25% and transportation at 77.98%, according to the statistical institute. "Obviously a disappointing set of inflation prints this morning," Timothy Ash, emerging markets strategist at BlueBay Asset Management, wrote in a note. He added that this development has "continued to put downward pressure on the lira," creating an inflation pass-through.

Persons: Liam Peach, Mehmet Simsek, Turkey's, Timothy Ash, Ash Organizations: Turkish Statistical Institute, Reuters, Food, Economics, Capital Economics, Turkish, BlueBay Asset Management, FX Locations: Sariyer, Istanbul, Turkish, London

☆ I was in Moscow the day Putin invaded Ukraine, and some Russians were in tears
▼ + stars: | 2024-02-24 | by ( Cameron Manley | ) www.businessinsider.com time to read: +10 min

Russian police officers detain a woman during an unsanctioned protest rally against the military invasion on Ukraine, March,6, 2022, in Central Moscow, Russia. These quickly ceased when they saw Russian colleagues in tears, whose life savings had halved overnight. Russian friends began referring to Tbilisi as the "new Constantinople," referencing the city where anti-Bolshevik Russians fleeing the Communist revolution had taken refuge a century before. Russian President Vladimir Putin (L) meets French President Emmanuel Macron (R) on February 07, 2022 in Moscow, Russia. I stood at the glass window silently as the Russian border guard inspected my passport and now useless work permit.

Persons: —, Cameron Manley, Russia's, didn't, Vladimir Putin, Putin idi nakhui, Putin, Mir, Pushkin, Konstantin Zavrazhin, Alexey Malgavko, Stringer, Zelenskyy, Volodymyr Zelenskyy, Karen Minasyan, pragmatically, gossiped, Emmanuel Macron Organizations: Service, Business, REUTERS, National Guard, Anadolu Agency, Getty, Armed Forces of, Facebook, Bolshevik, Communist, Kremlin Press, AP, Saint Locations: Edinburgh, Scotland, Moscow, Ukraine, Russia's, Europe, Russia, Central Moscow, Russian, Omsk, Kyiv, Armed Forces of Ukraine, seeping, Belarus, Yerevan, Armenia, AFP, Istanbul, Dubai, Tbilisi, Constantinople, St Petersburg, Helsinki, West, Switzerland, Saint Petersburg, Finland

☆ Turkey holds interest rate at 45% for first time after 8 months of hikes
▼ + stars: | 2024-02-22 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

Turkey is expected to head to the polls on Sunday. Turkey's central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated in January that its 250-basis-point hike would be its last for the year, despite inflation now at roughly 65%. Consumer prices in the country of 85 million last month jumped 6.7% from December — their biggest monthly jump since August — according to the Turkish central bank's figures. This is a developing story and will be updated shortly.

Organizations: Turkish Locations: Turkey, Turkish

☆ Turkey is back in from the cold with NATO and F-16 moves, but thorny issues remain
▼ + stars: | 2024-02-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Turkey spent nearly two years — along with Hungary — holding up Sweden's accession to NATO. Within hours of Ankara's decision, the U.S. approved a $23 billion sale for F-16 fighter jets to Turkey that had been delayed since 2021. It's worth noting that Hungary has yet to approve Sweden's NATO bid, and remains the only member of the alliance standing in the way of the Nordic country's accession. Turkey seemingly has a unique position that allows it to push the envelope and cross lines with its NATO allies. "My approval of Turkey's request to purchase F-16 aircraft has been contingent on Turkish approval of Sweden's NATO membership.

Persons: Turkey Recep Erdogan, It's, Recep Tayyip Erdogan, it's, Victoria Nuland, David Lepeska, Ben Cardin Organizations: NATO, Conference, Hungary —, UAE, Democratic, Senate Foreign Relations Locations: Turkey, Vilnius, Lithuania, Hungary, Sweden, Washington, Russian, Turkish, Eastern

☆ Turkey didn't get the F-35, but the new fifth-generation fighter jet it's been working on just made its first flight
▼ + stars: | 2024-02-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Turkey's first domestically made fighter jet successfully completed its maiden flight, and a new video captured the moment for the new fifth-generation aircraft. It's a major step forward for Turkey's efforts to acquire a fifth-generation fighter. The country was previously kicked out of the US-led F-35 program in 2019 as a consequence for purchasing S-400 air-defense systems from Russia. Turkey's aim is to field fifth-generation fighter jets that will eventually replace the country's F-16 fleet. Wednesday's flight heralds a promising step forward for Turkey, especially after it was expelled from the US-led F-35 Joint Strike Fighter program.

Persons: —, Turkey's, yerli, Temel Kotil, Recep Erdogan, Samuel King Jr, Fielding Organizations: Service, Turkish Aerospace Industries, Turkish Air Force, Eglin Air Force Base, US Air Force, senior Defense Department, Pentagon Locations: Russia, Turkey, Russian, NATO, Turkish

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