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☆ Turkey signs 10-yr gas deal with Oman -Turkish energy minister
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

Companies Botas Nehir Boya Emprime Sanayi Ticaret AS FollowISTANBUL, Jan 30 (Reuters) - Turkey signed a natural gas purchase agreement with Oman to buy an annual 1.4 billion cubic metres of gas for 10 years, Turkish Energy Minister Fatih Donmez said on Monday. Speaking at an event in Istanbul, Donmez said that a delegation from Turkish state energy company BOTAS was in Oman for the agreement. Reporting by Can Sezer Writing by Ezgi Erkoyun Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. issues another warning of possible terrorist attacks in Turkey
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Jan 30 (Reuters) - The U.S. embassy in Turkey warned Americans on Monday of possible attacks against churches, synagogues, and diplomatic missions in Istanbul, marking its second such notice in four days, following Koran-burning incidents in Europe. In an updated security alert, the U.S. embassy said "possible imminent retaliatory attacks by terrorists" could take place in areas frequented by Westerners, especially the city's Beyoglu, Galata, Taksim, and Istiklal neighbourhoods. On Friday, several embassies in Ankara including those of the United States, Germany, France and Italy issued security alerts over possible retaliatory attacks against places of worship, following separate incidents in which the Muslim holy book, the Koran, was burned in Sweden, Netherlands and Denmark. On Saturday, Turkey warned its citizens against "possible Islamophobic, xenophobic and racist attacks" in the United States and Europe. Reporting by Ezgi Erkoyun; Editing by Jonathan Spicer and Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Turkey to host summit of gas buyers, sellers next month
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Jan 30 (Reuters) - Turkey will hold a natural gas summit on Feb. 14-15 to bring together gas supplier countries and Europe's consumer countries in Istanbul, Turkish Energy Minister Fatih Donmez said on Monday. "We will bring together supplier countries from the Middle East, Mediterranean, Caspian and Middle Asia with consumer countries from Europe," Donmez said. In October, Russia's President Vladimir Putin proposed setting up a gas hub in Turkey following explosions that damaged Russia's Nord Stream gas pipelines under the Baltic Sea. Some Western capitals were concerned that a Turkish hub including Russian gas could allow Moscow to mask exports that are sanctioned by the West over the Russian invasion of Ukraine. Turkey has the infrastructure and experience in gas trade and authorities are taking steps for it to be a hub where regional benchmark prices are set, Donmez said.

☆ Court rejects Kurdish party bid to delay closure ruling till after Turkey elections
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] A supporter of Turkey's main pro-Kurdish Peoples' Democratic Party (HDP) holds a mask of their jailed former leader and presidential candidate Selahattin Demirtas during a rally in Ankara, Turkey, June 19, 2018. The case against the HDP, Turkey's third-biggest party, comes ahead of elections that pose the biggest test for President Tayyip Erdogan's 20 years in power. Polls show he and his ruling AK Party could lose, especially if the HDP cooperates with an opposition alliance. Earlier this month, the court froze the HDP's bank accounts holding Treasury aid during the course of the trial. But it remains unclear when the court will deliver its final ruling on the party closure case.

☆ Turkish elections to be held on May 14 -Erdogan
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Jan 22 (Reuters) - President Tayyip Erdogan said Turkey would hold elections on May 14, a month earlier than scheduled, setting up a tight test of his leadership after two decades in power. The president's office released video footage on Sunday of Erdogan announcing the date during a meeting with young voters in the northwestern province of Bursa late on Saturday. "I am grateful to god that we will be walking side by side with you, our first-time voting youth, in the elections that will be held on May 14," Erdogan told the group. Opinion polls show the parliamentary and presidential elections will be tight, and will mark Erdogan's biggest test in his two decades at the reins of the regional military power, NATO member and major emerging market economy. Turkey's presidential and parliamentary elections were scheduled to be held on June 18 but President Erdogan previously signalled that the vote could be brought forward.

☆ Turkey cancels Swedish defence minister visit after protest permit
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +1 min

Andy Commins/Pool via REUTERSISTANBUL, Jan 21 (Reuters) - Turkish Defence Minister Hulusi Akar said on Saturday that a planned visit by his Swedish counterpart to Ankara has been cancelled after Swedish authorities granted permission for protests in Stockholm. "At this point, the visit of Swedish Defense Minister Pal Jonson to Turkey on January 27 has become meaningless. So we cancelled the visit," Akar said. Swedish Defence Minister Jonson had planned to travel next week to Ankara at the invitation of his Turkish counterpart as the Nordic country hopes to nudge Turkey to ratify its bid to join NATO. The necessary things needed to be done, measures should have been taken," Akar said according to a statement by Turkish defence ministry.

☆ Turkey urges Sweden to withdraw permit for Koran protest
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: 1 min

ISTANBUL, Jan 21 (Reuters) - Turkish Foreign Minister Mevlut Cavusoglu said on Saturday that he hoped Swedish authorities would not allow a protest that includes burning the Koran. "This permission is granted to this person, despite all our warnings. This vile act will take place at around 1600 Turkish time (1300 GMT), I hope Swedish authorities will take necessary measures until then and will not allow this," Cavusoglu said to reporters. Cavusoglu also said the protest could not classified as freedom of expression. Earlier on Saturday, Turkish Defence Minister Hulusi Akar said a planned visit next week by his Swedish counterpart to Ankara had been cancelled after Swedish authorities granted permission for protests in Stockholm.

☆ Protests in Stockholm, including Koran-burning, draw condemnation from Turkey
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +5 min

Permitting this anti-Islam act, which targets Muslims and insults our sacred values, under the guise of freedom of expression is completely unacceptable," the Turkish Foreign Ministry said. The Turkish ministry urged Sweden to take necessary actions against the perpetrators and invited all countries to take concrete steps against Islamophobia. Swedish Foreign Minister Tobias Billstrom said that Islamophobic provocations were appalling. "Saudi Arabia calls for spreading the values of dialogue, tolerance, and coexistence, and rejects hatred and extremism," the Saudi Foreign Ministry said in a statement. "We will continue our opposition to the Swedish NATO application," Thomas Pettersson, spokesperson for Alliance Against NATO and one of organizers of the demonstration, told Reuters.

☆ Turkey's Erdogan signals May 14 date for his biggest election test
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

Polls show the parliamentary and presidential elections will be tight, and they mark Erdogan's biggest test in his two decades at the reins of the regional military power, important NATO member and major emerging market economy. Addressing lawmakers of his Islamist-rooted AK Party (AKP) in parliament, Erdogan said Turks will dismiss the opposition at the ballot box on the same date that elections were held in 1950. Last year Erdogan had repeated the vote would be held in June, but earlier this month he said the date may be brought forward from the scheduled June 18. Erdogan has championed religious piety, military-backed diplomacy, and low interest rates despite inflation soaring above 85% in October. The ruling AKP is still the strongest party in Turkey and will likely remain a powerful force in parliament, but opinion polls show Erdogan trailing against some potential challengers.

☆ Turkey's current account deficit at $4.1 bln in November; $48 billion in 2022
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +2 min

ANKARA, Jan 6 (Reuters) - Turkey is expected to record a current account deficit of $4.1 billion in November, a Reuters poll showed on Friday, while the deficit was seen at $48 billion in 2022, after soaring energy prices derailed Ankara's plans to shore up the shortfall. In a Reuters poll, the median estimate of 11 economists for the current account deficit (TRCURA=ECI) in November was $4.1 billion, with forecasts ranging from $1.4 billion to $4.75 billion. The median forecast for the deficit in 2022 stood at $48 billion, down slightly from a previous poll, with estimates ranging between $43 billion and $49 billion. Global energy prices have made that goal all but unattainable in 2022 though authorities say a surplus will be achieved when energy prices normalise. Turkey's central bank is scheduled to announce the November current account data at 0700 GMT on Jan 11.

☆ U.S., Turkey target financial network linked to Islamic State
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 5 (Reuters) - The U.S. Treasury Department said on Thursday it was taking joint action with Turkey against a network it said played a key role in money management, transfer and distribution for the Islamic State militant group operating in Iraq and Syria. Turkey's foreign affairs ministry said on Twitter the assets of seven individuals or legal persons involved in financing for the group were frozen. The U.S. Treasury Department said four individuals and two entities in Turkey were designated under U.S. sanctions. Islamic State killed and executed thousands of people in the name of its extreme interpretation of Islam before it was territorially defeated in Iraq in 2017 and Syria in 2019. The United States in November blacklisted four individuals and eight companies in South Africa aiding the group and in May imposed sanctions on a network of five Islamic State financial facilitators working across Indonesia, Syria and Turkey.

☆ Turkey announces cheaper mortgages for mid-income Turks
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

ANKARA, Jan 4 (Reuters) - Mortgages with lower rates and longer maturities will be offered to middle income Turks looking to buy new housing, Turkish Finance Minister Nureddin Nebati said on Wednesday. "We prepared 'my new home program' for middle income citizens with advantegous rates, three-year finance ministry support in payments and a household income-based payment plan," Nebati said. The loans with favourable rates will be extended to new housing, before, during or after construction, Nebati also said. Contractors that promise to build housing will also have credit guarantee fund-backed access to financing of some 25 billion Turkish lira, Nebati added. ($1 = 18.7390 liras)Reporting by Ebru Tuncay and Ezgi Erkoyun; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Turkish factory activity contracts in Dec but shows improvement -PMI
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, Jan 2 (Reuters) - Turkish factory activity contracted for the 10th month running in December but showed some signs of improvement from previous months as output and new orders fell more slowly, a survey showed on Monday. The Purchasing Managers' Index (PMI) for manufacturing stood at 48.1 in December, up from 45.7 in November, the Istanbul Chamber of Industry and S&P Global said. While December's reading was the highest since June, it remained below the 50-point line that separates contractions from expansions in activity. "There were some tentative signs of improvement in the latest PMI survey, which if continued into the new year could see the Turkish manufacturing sector gaining some ground," said Andrew Harker, economics director at S&P Global Market Intelligence. Reporting by Ezgi Erkoyun; Writing by Ali Kucukgocmen; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Turkey's AK Party mulls bringing elections 'slightly' forward
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

ANKARA, Jan 2 (Reuters) - Turkish President Tayyip Erdogan's ruling AK Party is considering a "slight change" on the date of elections scheduled for mid-June, a senior party official said on Monday. "We want elections to be held on June 18," AK Party spokesperson Omer Celik said at a news conference when asked about the possibility of snap elections. "But since this date corresponds with summer holiday season when people are travelling, ware evaluating bringing the date slightly forward." Turkey's parliamentary and presidential elections are scheduled to be held on June 18, and Erdogan previously said elections would be held in June. "This change of date will not amount to snap elections...

☆ Turkey cenbank targets 60% lira deposits in banks in H1
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

ANKARA, Dec 30 (Reuters) - Turkey's central bank said on Friday it aims to lift the share of lira deposits to 60% of all deposits in the banking system over the next six months, and vowed to continue using regulations to support access to credit. In its annual monetary policy report, the central bank said it was maintaining its long-held 5% medium-term inflation target, as the annual inflation rate begins edging down from a 24-year high above 85% in October. The central bank, which has undertaken an "liraization" policy of stabilizing the currency as it has slashed interest rates, repeated it had no forex target level and would not buy or sell hard currencies to direct the lira. Reporting by Nevzat Devranoglu Ezgi Erkoyun; Writing by Jonathan Spicer; Editing by Ece ToksabayOur Standards: The Thomson Reuters Trust Principles.

☆ Turkey annual inflation to ease to 66.8% in December, 43.2% a year later - Reuters poll
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +3 min

ISTANBUL, Dec 28 (Reuters) - Turkey's annual inflation is expected to fall sharply to 66.8% in December due to a favourable base effect but drop only to 43.2% by the end of 2023, a Reuters poll showed on Wednesday, while monthly price rises should remain elevated. In the Reuters poll of 12 economists, the median estimate for annual December inflation was 66.8%. Prices continue to rise sharply month-to-month with the median estimate at 2.7%, in a wide range of 1.40% and 4.10%. However, economists see inflation dropping only to 43.2% by end-2023, according to the median estimate of eight economists in the Reuters poll, with forecasts ranging between 33% and 48%. The Turkish Statistical Institute is scheduled to announce December inflation data at 0700 GMT on Jan. 3.

☆ Turkey's natural gas found in Black Sea now comes to 710 bcm -Erdogan
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: 1 min

ISTANBUL, Dec 26 (Reuters) - The total volume of natural gas Turkey has discovered in the Black Sea now amounts to 710 billion cubic metres (bcm) after a new field was located and a previous find was revised higher, President Tayyip Erdogan said on Monday. Speaking after a cabinet meeting, Erdogan said Turkey had discovered a new reserve of 58 bcm in the Caycuma-1 field, in addition to revising up an estimated volume in the Sakarya field to 652 bcm from the previous 540 bcm. Reporting by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Thousands protest in Turkey over Istanbul mayor's conviction
▼ + stars: | 2022-12-15 | by ( Ezgi Erkoyun | ) www.reuters.com time to read: +3 min

[1/15] Supporters of Istanbul Mayor Ekrem Imamoglu gather in front of the Istanbul Metropolitan Municipality during a rally to oppose the conviction and political ban of Imamoglu, in Istanbul, Turkey December 15, 2022. Alp Eren Kaya/CHP via REUTERSISTANBUL, Dec 15 (Reuters) - Thousands of people rallied in Turkey on Thursday to oppose the conviction and political ban of Istanbul Mayor Ekrem Imamoglu, chanting slogans criticising President Tayyip Erdogan and his ruling AK Party before elections next year. A Turkish court on Wednesday sentenced Imamoglu, a popular rival to Erdogan, to two years and seven months in prison, which like the ban must be confirmed by an appeals court. "We are here today to protect our rights and the votes of millions of people from Istanbul. His comfortable win in the re-run vote ended the 25-year rule in Istanbul of the AKP and its Islamist predecessors.

☆ Four oil tankers to pass Istanbul strait on Monday, maritime authority says
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: 1 min

ISTANBUL, Dec 11 (Reuters) - Turkey's maritime authority said on Sunday that four tankers, carrying some 475,000 tonnes of oil, had provided the necessary insurance letters according to regulations and would cross the Istanbul Strait on Dec. 12. A Turkish measure in force since the start of the month has caused shipping delays. It requires vessels to provide proof of insurance covering the duration of their transit through the Bosphorus Strait or when calling at Turkish ports. In a statement, the authority also said it removed five oil tankers from the country's territorial waters via the Dardenelles Strait as they could not provide confirmation letters for their insurance. Reporting by Ezgi Erkoyun; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Erdogan, Putin discuss grain corridor, gas hub in phone call
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, Dec 11 (Reuters) - Presidents Tayyip Erdogan of Turkey and Vladimir Putin of Russia discussed grain supplies and a potential regional gas hub in Turkey on Sunday, both countries said. "President Erdogan expressed his sincere wish for the termination of the Russia-Ukraine war as soon as possible," the Turkish presidency said on Sunday. In the call, Erdogan said Ankara and Moscow could start work on exporting other food products and commodities through the Black Sea grain corridor, Erdogan's office said. The Kremlin said the two also discussed an initiative to create a base in Turkey for exports of Russian natural gas. Gazprom (GAZP.MM) chief Alexei Miller held talks with Erdogan in Istanbul in the past week.

☆ Turkish watchdog cuts banks' forex to capital ratio limit
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: 1 min

ISTANBUL, Dec 10 (Reuters) - Turkey's BDDK banking watchdog has set the foreign currency net position to standard capital ratio for banks at a maximum 5% according to a regulation published in the country's official gazette on Saturday. The amendment takes effect on January 9, it said. The regulation was last amended in 2014 when it was set at a maximum of 20%, the Anadolu state news agency reported. Reporting by Ezgi Erkoyun; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Turkish cenbank's net FX reserves rise to $19.51 bln
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Dec 1 (Reuters) - The Turkish central bank's net international reserves rose some $760 million to $19.51 billion in the week to Nov. 25, hitting their highest since mid-February, central bank data showed on Thursday. In July, the net forex reserves dropped to $6.07 billion, their lowest in at least 20 years, but since rebounded. Forex reserves have dropped sharply in recent years due to market interventions and in the wake of a currency crisis in December. Data showed the bank's outstanding swap transactions stood at $45.15 billion as of Wednesday. The figures are released in Turkish liras and are converted by Reuters to U.S. dollars using the central bank's official exchange rate from the previous work day.

☆ Turkey's economy grew 4% in Q3; 2022 growth seen at 5%
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

Turkey's economy bounced back strongly from the COVID-19 pandemic to expand 11.4% in 2021. Turkey's gross domestic product (GDP) growth was expected to stand at 4% year-on-year in the third quarter, according to the median estimate of 13 economists participating in the Reuters poll. Given the expected slowdown, the median estimate of 13 economists for GDP growth in 2022 stood at 5%, in a range of 4.50% and 5.60%. It cited signs of an economic slowdown for its easing. The Turkish Statistical Institute will announce Q3 GDP growth data at 0700 GMT on Nov. 30.

☆ Turkey summons Swedish envoy over incident in Stockholm - sources
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Nov 21 (Reuters) - Turkey's foreign ministry summoned Sweden's ambassador on Monday to request an investigation into an incident in Stockholm that it regards as insulting to President Tayyip Erdogan, two diplomatic sources said. In the incident, they said, a group sympathetic to the outlawed Kurdistan Workers Party (PKK) staged a protest near Turkey's embassy in Stockholm and projected what Ankara said was "terrorism propaganda" and insulting content about Erdogan onto the building. Turkey expects Sweden to track down those responsible for the action, the diplomatic sources said. The incident comes at a sensitive time in bilateral relations when Sweden and Finland are seeking Turkey's approval of their bid to join NATO. Reporting by Huseyin Hayatsever Writing by Ezgi Erkoyun Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

The predicted cut would bring the cumulative easing in four months to 500 basis points, which the central bank says is necessary given signs of economic slowdown. The central bank will announce its rate decision at 1100 GMT on Nov. 24. Inflation has surged since autumn 2021, stoked by an unorthodox easing cycle of 500 basis points that sparked a currency crisis late last year. The central bank expects inflation to drop to 65.2% by end-2022, thanks largely to a so-called base effect. That compares to a median estimate of 70.25% in the latest Reuters poll and 68.06% in a central bank survey published on Friday.

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