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Air travel is slowly recovering in Japan post pandemic with inbound passenger traffic coming back stronger while outbound leisure demand is "still weak", he added. While the fear of getting infected is still putting off some passengers from travelling overseas, a weaker yen versus the dollar is making it costlier for Japanese travellers and hurting outbound demand, Inoue said. While limited flights between the U.S. and China are resulting in some additional inbound demand for ANA as passengers travel through Tokyo, inflationary trends in the U.S. are expected to further crimp outbound travel, he said. ANA said last year it plans to launch a new international low-cost carrier in late 2023 or early 2024, focused on the Southeast Asian market as tourism revives post pandemic. ANA expects to launch Air Japan by spring 2024, Inoue said.
Persons: Shinichi Inoue, Inoue, Aditi Shah, Jason Neely, David Evans Organizations: All Nippon Airways, ANA, Boeing, Monday, International Air Transport Association, U.S, Japan, Thomson Locations: ISTANBUL, Istanbul, Japan, China, Tokyo, U.S
Turkey inflation dips to 39.6% on relief from free gas
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +3 min
ISTANBUL, June 5 (Reuters) - Turkish annual inflation fell to 39.59% in May, official data showed on Monday, broadly in line with expectations, largely due to the government offsetting price rises in other goods by providing natural gas free of charge. The government had pledged ahead of last month's elections that it would provide free gas in May, and a monthly free 25 cubic metres until May 2024. The poll had forecast that annual consumer price inflation (CPI) (TRCPIY=ECI) would be 39.2%, and was expected to end the year at 45%. Clothing and shoe prices recorded the largest monthly increase with 9.85%, followed by restaurant and hotel prices with 7.10%. The weight of natural gas in the inflation basket is 2.9%.
Persons: Tayyip Erdogan, Erdogan, Mehmet Simsek, Liam Peach, Peach, Cevdet Yilmaz, Canan Sevgili, Daren Butler, Ali Kucukgocmen, Jonathan Spicer, William Maclean Organizations: Turkish Statistical Institute, Treasury, Finance, Capital Economics, Thomson Locations: ISTANBUL
[1/2] An Air France aircraft, operated with sustainable aviation fuel (SAF) produced by TotalEnergies, is refueled before its first flight from Nice to Paris at Nice airport, France, October 1, 2021. REUTERS/Eric Gaillard/File PhotoISTANBUL, June 5 (Reuters) - Airlines took aim at Europe over green fuel mandates and its failures to stem France's air traffic control strikes as they weigh on carrier capacities at a global airlines meeting in Istanbul on Monday. In 2021, the body released its strategy to achieve net-zero carbon emissions by 2050, including a progressive increase in sustainable aviation fuel use. A global approach to book and claim for SAF credits will help facilitate economies of scale in SAF production," he said. FRAGMENTATIONHowever, IATA said the EU's approach could cause more fragmentation by forcing airlines to buy SAF in Europe, ultimately hampering a harmonized global approach and sowing confusion.
Persons: Eric Gaillard, Willie Walsh, Walsh, Marie Owen Thomsen, Joanna Plucinska, David Evans Organizations: Air France, REUTERS, Airlines, EU, SAF, Air Transport Association, Officials, Chicago Convention, Activists, Thomson Locations: Nice, France, ISTANBUL, Europe, Istanbul, United States, COVID
IATA on Monday more than doubled its 2023 profit forecast for the global airline industry despite a looming economic downturn. Airlines are expected to make $9.8 billion in net profit in 2023, up from a December forecast of $4.7 billion. The industry’s main lobby group expects 4.35 billion people to travel by air this year, not far off the 4.54 billion passengers who flew in 2019. The figures mark a significant turnaround for the airline industry, which carried just 1.8 billion passengers in 2020 because of the coronavirus pandemic, at a loss of $76 per traveler. From that nadir, air travel has rebounded even as high inflation and rising interest rates weigh on spending by businesses and consumers in other areas.
Persons: Willie Walsh, ” Walsh, Walsh, , CNN’s Richard Quest, we’re, ” — Gayle Harrington Organizations: London CNN — Global, International Air Transport Association Locations: Istanbul,
Turkey, Finland and Sweden will meet on June 12 to discuss Stockholm's bid to join the NATO military alliance, which has so far been stalled by Ankara's objections, according to a NATO statement released on Sunday. The announcement followed a meeting of NATO Secretary-General Jens Stoltenberg and newly reelected Turkish President Recep Tayyip Erdogan in Istanbul. Finland and Sweden renounced their long-standing policy of political neutrality following Russia's full-scale invasion of Ukraine and jointly applied for NATO membership in June last year. Finland was accepted and joined the military organization in April. Stockholm's accession has been delayed by Turkish concerns that Sweden harbors militants of the Kurdistan Workers' Party, which Ankara, the United States, the EU and others designated as a terrorist organization.
Persons: Jens Stoltenberg, Recep Tayyip Erdogan, Stockholm's Organizations: NATO, Kurdistan Workers ' Party Locations: Turkey, Finland, Sweden, Istanbul, Ukraine, Ankara, United States, EU
Despite their ease of use, passwords come with significant downsides: More than 80% of data breaches are the result of weak passwords. In 2004, Bill Gates famously envisioned the death of traditional passwords, and there have been several attempts to replace them. That's great if all of your devices are from one company — your Apple passkey would work across an iPhone, iPad, and MacBook. "Similar to our recommendations when it comes to other forms of authentication, we advise against the sharing of passkeys, passwords, etc. Passwords won't disappear overnight, but what FIDO Alliance has accomplished has convinced me our passwordless future is just around the corner.
Persons: it's, I'm, Zhao, There's, Christiaan Brand, Bill Gates, FIDO, Steve Won, Florentin, passkeys, Andrew Shikiar, Won, Google's Brand, 1Password, Buffalo's Zhao, Shubham Agarwal Organizations: Microsoft, Cybersecurity Ventures, Apple, Google, Alliance, University at Buffalo, University of Cambridge, Mastercard, TU Darmstadt, FIDO Alliance, Bluetooth, Research, Istanbul Technical University, University, Buffalo's, Wired, Company Locations: Germany, Ahmedabad, India
"There's still discussion in Portugal how that privatisation will take place and it's not supposed to be 100 percent privatisation," Spohr told journalists at the annual meeting of the International Air Transport Association in Istanbul. At least three major global carriers, Lufthansa, Air France-KLM (AIRF.PA) and British Airways-owner IAG (ICAG.L), have shown an interest. Lufthansa said last month that it was taking a 41% stake in Italian carrier ITA Airways in the latest major consolidation in the aviation sector in Europe. "Boeing are saying it's delivery in late 24 or early 25 - which means it's early '25," Spohr said. Reporting by Joanna Plucinska and Tim Hepher; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons: Carsten Spohr, Joao Nuno Mendes, it's, Spohr, IAG, Joanna Plucinska, Tim Hepher, Susan Fenton Organizations: TAP, International Air Transport Association, Lufthansa, Air France, KLM, British Airways, ITA Airways, Boeing, Thomson Locations: ISTANBUL, Portugal, Istanbul, Europe
Airlines say ready to avoid repeat of summer travel chaos
  + stars: | 2023-06-04 | by ( ) www.reuters.com   time to read: +2 min
Airline leaders attending IATA's annual meeting in Istanbul this week remain concerned about air traffic control disruption in Europe and the United States, however. "But as far as they are concerned, they have fulfilled their obligation to get their resources in place for this summer. Rising numbers of disputes between travellers and airlines globally have led to calls for passenger compensation. Some passenger groups have accused airlines of skirting compensation by invoking an exemption for exceptional circumstances. Airlines have reported strong bookings for this summer as air traffic returns towards pre-COVID levels.
Persons: Willie Walsh, they've, Walsh, Eurocontrol, Tim Hepher, Joanna Plucinska, Aditi Shah, David Holmes Organizations: Airlines, International Air Transport Association, Sunday, Airline, Reuters, European, Thomson Locations: ISTANBUL, Istanbul, Europe, United States, North America, Canada, U.S, European Union, Ukraine
Airbus heads towards 500-jet order from IndiGo
  + stars: | 2023-06-04 | by ( ) www.reuters.com   time to read: 1 min
ISTANBUL, June 4 (Reuters) - Airbus (AIR.PA) is closing in on a potentially record deal to sell 500 narrowbody A320-family jets to India's largest carrier, Indigo (INGL.NS), industry sources said on Sunday. The European planemaker has emerged as front-runner for an order eclipsing Air India's historic provisional purchase of 470 jets in February, the sources said on the sidelines of an airline industry meeting in Istanbul. Airbus and Boeing are also competing in talks to sell 25 wide-body jets to the same airline, they said. IndiGo, which is already a major Airbus customer with a large number of planes on order, and the France-based planemaker both declined comment. Reporting by Tim Hepher, Aditi Shah and Joanna Plucinska; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Tim Hepher, Aditi Shah, Joanna Plucinska, Hugh Lawson Organizations: Airbus, Boeing, Thomson Locations: ISTANBUL, Istanbul, France
Airlines body urges jetmakers to fix aircraft delivery delays
  + stars: | 2023-06-04 | by ( ) www.reuters.com   time to read: +1 min
Airlines "are not concerned about the macroeconomic environment, they're concerned about the access to spare parts for their existing aircraft and the delivery of new aircraft. "It's frustrating because airlines can see strong demand, but they're not able to match supply with demand in many markets. Airbus (AIR.PA) and Boeing (BA.N) have blamed supply chains for delivery delays, while bottlenecks in a network of engine repair shops have also forced airlines to ground dozens of jets. The gathering comes two weeks before the Paris Airshow, where supply pressures are likely to overshadow new orders. Reporting by Tim Hepher, Joanna Plucinska and Aditi Shah; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Adolfo Suarez, Isabel Infantes, Willie Walsh, it's, they're, Tim Hepher, Joanna Plucinska, Aditi Shah, David Holmes Organizations: Ryanair Boeing, Airbus, Adolfo Suarez Madrid, Barajas Airport, REUTERS, International Air Transport Association, Reuters, Boeing, Thomson Locations: Madrid, Spain, Isabel Infantes ISTANBUL, Istanbul, Airlines, Paris
ISTANBUL, June 4 (Reuters) - Airbus (AIR.PA) is closing towards a potentially record deal to sell 500 narrow-body A320-family jets to India's largest carrier IndiGo (INGL.NS), industry sources said on Sunday. Airbus and Boeing (BA.N) are also still competing in separate talks to sell 25 A330neo or Boeing 787 wide-body jets to the same airline, the industry sources said. IndiGo is already one of Airbus's largest customers and has so far ordered a total of 830 Airbus A320-family jets of which nearly 500 are still to be delivered. IndiGo aims to double its capacity by the end of the decade and expand its network, especially in international markets. The airline has a codeshare partnership with seven carriers including Turkish Airlines, American Airlines and KLM.
Persons: Pieter Elbers, Carsten Spohr, Elbers, Tim Hepher, Aditi Shah, Joanna Plucinska, Hugh Lawson, David Holmes, Susan Fenton Organizations: Airbus, Boeing, IndiGo, International Air Transport Association, Reuters, Turkish Airlines, Barclays, Lufthansa Group, American Airlines, KLM, Thomson Locations: ISTANBUL, Istanbul, United States, Europe
Airbus seeing more predictable industrial rhythm after delays
  + stars: | 2023-06-04 | by ( ) www.reuters.com   time to read: +2 min
ISTANBUL, June 4 (Reuters) - European planemaker Airbus (AIR.PA) is seeing a more predictable pattern in its industrial activities and what appears to be the start of a more positive trend in deliveries, Chief Commercial Officer Christian Scherer said. We are seeing a steady increase in our ability to fly planes as they come out of the assembly line," he told Reuters, adding that Airbus was fully focused on operations following recent supply chain disruption. "The industrial rhythm seems to be a little more predictable," he said on the sidelines of an airlines meeting. "The pulse was not the same pulse across the supply chain but there seems to be more harmony now," he added. Airbus and rival Boeing have blamed faltering supply chains for recent delays in jet deliveries, with airlines and leasing companies complaining of erratic changes in schedules.
Persons: Christian Scherer, Scherer, Tim Hepher, Hugh Lawson Organizations: Airbus, Reuters, Boeing, International Air Transport Association, Thomson Locations: ISTANBUL
ISTANBUL, June 4 (Reuters) - An agreement on Sweden joining NATO could be reached in time for a summit of the alliance next month in Lithuania, NATO Secretary-General Jens Stoltenberg said on Sunday after meeting Turkish President Tayyip Erdogan. He also said officials from Turkey, Sweden and Finland would meet later this month for talks to try to overcome objections from Turkey and Hungary that have delayed Sweden's NATO membership bid. Stoltenberg's talks in Istanbul with Erdogan took place a week after Erdogan extended his two-decade rule in an election. Stoltenberg told Reuters in an interview it was important to use the remaining time before the NATO summit in Vilnius in July to get a deal. In its objections to Swedish membership, Turkey has said Stockholm harbours members of militant groups it considers to be terrorists.
Persons: Jens Stoltenberg, Tayyip Erdogan, Stoltenberg's, Erdogan, Stoltenberg, Huseyin Hayatsever, Andrew Gray, Sabine Siebold, Hugh Lawson, Barbara Lewis Organizations: NATO, Reuters, Atlantic Treaty Organization, Kurdistan Workers ' Party, Thomson Locations: ISTANBUL, Sweden, Lithuania, Turkey, Finland, Hungary, Istanbul, Russia, Ukraine, Vilnius, Stockholm, Ankara, Brussels
Bengisu Yildiz, 30, moved from Turkey to the Netherlands last year. Her first job in the Netherlands wasn't a great match, but Yildiz found a new job where she's happy. Bengisu Yildiz, 30, decided to move from Turkey to the Netherlands last year, in part to experience a new lifestyle — and in part for a new job opportunity. Yildiz shared with Insider what her job is like on a hybrid schedule, her future goals, and what she misses about Turkey. "Maybe I can open an urban farm there to facilitate some job opportunities for young people like me who are interested with the topic," she said.
Persons: Bengisu Yildiz, Yildiz, , Turkey, Netherlands Yildiz, wasn't, she's, Turkey Yildiz, I'm Organizations: Service, Amsterdam Locations: Turkey, Netherlands, Istanbul, Europe, Amsterdam, London
Airbus is near a deal to sell 500 A320 narrow-body planes to IndiGo, Reuters reported. That would make it the largest order ever by volume, topping Air India's 470-plane deal in February. Boeing rival Airbus is near a deal to sell 500 planes from the A320 narrow-body family of jets to India's largest airline, IndiGo, Reuters reported on Sunday. Meanwhile, Airbus and Boeing are also in talks to sell 25 wide-body jets to IndiGo, the report added. That's in contrast with Air India's massive order, which was split between 220 Boeing planes and 250 Airbus planes.
Persons: isn't, IndiGo didn't, Dave Schulte Organizations: Airbus, Reuters, Air, archrival Boeing, Morning, Boeing, IndiGo, Insider, Reuters . Budget, Max, Asia Pacific Locations: IndiGo, Istanbul, India
Turkey's Erdogan appoints Mehmet Simsek as finance minister
  + stars: | 2023-06-03 | by ( ) www.reuters.com   time to read: 1 min
ISTANBUL, June 3 (Reuters) - Turkey's President Tayyip Erdogan on Saturday named former economy chief Mehmet Simsek as treasury and finance minister as he announced the cabinet for his new five-year term. Simsek was highly regarded by investors when he served as finance minister and deputy prime minister between 2009 and 2018. Reuters reported this week that Erdogan was viewed as almost certain to include Simsek in his new cabinet, either as finance minister or as a vice president responsible for the economy. His appointment could mark a departure from years of unorthodox economic policies under Erdogan, which have included sticking to low interest rates despite high inflation, and heavy state control of markets. Reporting by Ezgi Erkoyun and Huseyin Hayatsever, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
Persons: Tayyip Erdogan, Mehmet Simsek, Simsek, Erdogan, Ezgi Erkoyun, Huseyin Hayatsever, Angus MacSwan Organizations: Saturday, Reuters, Thomson Locations: ISTANBUL
LONDON, June 3 (Reuters) - Manchester City moved to within one victory of completing a momentous treble as they deservedly beat arch-rivals Manchester United 2-1 in the FA Cup final thanks to Ilkay Gundogan's record-breaking double on Saturday. City captain Gundogan scored the fastest goal in FA Cup final history with a stunning volley after 12 seconds and struck what proved to be the winner seven minutes after halftime. It is the 13th time the English league and FA Cup double has been achieved. The FA Cup is so nice." It eclipsed the previous fastest FA Cup final goal scored by Louis Saha after 25 seconds for Everton against Chelsea in 2009 and City threatened to run riot against a stunned United.
Persons: Ilkay, Gundogan, Nat Lofthouse, Bruno Fernandes, Pep Guardiola's, Alex Ferguson, Guardiola, Stefan Ortega's, Erling Haaland, David de Gea, Louis Saha, Rodri, Jack Grealish, Kevin de Bruyne, Aaron Wan, Paul Tierney, Tierney, Fernandes, Ortega, Raphael Varane volleyed, De Bruyne's, De, Alejandro Garnacho, Erik Ten, Martyn Herman, Pritha Sarkar Organizations: Manchester City, Manchester United, FA, City, Bolton Wanderers, United . United, Inter Milan, Premier League, League, Champions League, Wembley, Everton, Chelsea, United, Grealish, Inter, Thomson Locations: Manchester, City, Istanbul
A third of the world's billionaires are concentrated in just 16 cities, according to a new study. Wealth-X's annual Billionaire Census tracks where they live, how they make their money, and more. Here, the 16 cities across the globe with the most billionaires, from Istanbul to Moscow. Almost a third of the world's billionaires are concentrated in just 16 cities, according to a new analysis of the habits and patterns of the richest individuals. So let's take a tour of the 16 cities the most members of the world's wealthiest population call home.
Persons: Organizations: Service, New Locations: Istanbul, Moscow, New York City, Asia, America, Singapore, Europe, China
Following are descriptions of key figures in the cabinet:MEHMET SIMSEK - FINANCE MINISTERFormer economy chief Simsek has been appointed as treasury and finance minister. He was highly regarded by financial markets when he served as finance minister and deputy prime minister between 2009 and 2018. HAKAN FIDAN - FOREIGN MINISTERFidan was appointed as foreign minister, replacing Mevlut Cavusoglu, who was one of the longest serving top Turkish diplomats. ALI YERLIKAYA - INTERIOR MINISTERAli Yerlikaya was appointed as interior minister and replaced Suleyman Soylu, who kept his position since 2018. Yerlikaya, 55, served as governor of provinces of Gaziantep, Tekirdag, Agri and Sirnak before.
Persons: Tayyip Erdogan, MEHMET SIMSEK, Simsek, Merrill Lynch, HAKAN FIDAN, Fidan, Mevlut Cavusoglu, Erdogan, YASAR, Yasar Guler, Hulusi Akar, CEVDET YILMAZ, Cevdet Yilmaz, Ali Yerlikaya, Suleyman Soylu, Yerlikaya, Burcu Karakas, Huseyin Hayatsever, Jonathan Spicer Organizations: FINANCE, U.S, Embassy, National Intelligence Organisation, MIT, Turkish Army, Turkish Development and Cooperation Agency, Kurdistan Workers Party, AK, Turkish, Commission, ALI, Ece Toksabay, Thomson Locations: ANKARA, Ankara, Oslo, Syria, Iraq, Istanbul, Yerlikaya, Gaziantep, Tekirdag
ISTANBUL, June 3 (Reuters) - Turkey plans to send commandos to Kosovo on Sunday and Monday in response to a NATO request to join the alliance's KFOR peacekeeping force following unrest in the north of the country, the Turkish defence ministry said. In a statement on Saturday, the ministry called for restraint and constructive dialogue to resolve a crisis that it said could harm regional security and stability. "Our assigned unit (a commando battalion) is planned to be deployed to ... Kosovo on June 4-5," the ministry said. In violence on Monday, 30 peacekeepers and 52 Serbs who protested against the installation of the mayors were injured. The violence prompted NATO to announce it would send additional troops on top of 700 already on their way to the Balkan country to boost its 4,000 strong mission.
Persons: Ezgi Erkoyun, Giles Elgood Organizations: NATO, alliance's KFOR, U.S, Thomson Locations: ISTANBUL, Turkey, Kosovo, Turkish, ., Kosovo's, Pristina
CNN —Referee Szymon Marciniak will officiate next weekend’s UEFA Champions League final after apologizing for his appearance at an event organized by a hardline right-wing Polish politician, the European football governing body confirmed in a statement on Friday. According to the Guardian, Marciniak was a keynote speaker at an event entitled “Everest” organized by Slawomir Mentzen, the leader of the nationalist Confederation party in Katowice, Poland on Monday. The party is known for its slogan, “We stand against Jews, gays, abortion, taxation and the European Union,” the Guardian reports. Marciniak officiated the World Cup final between Argentina and France in December, 2022. Marciniak, who refereed the World Cup final between Argentina and France in December, said he was “gravely misled and completely unaware” of the event’s affiliation.
Persons: Szymon Marciniak, Marciniak, Slawomir Mentzen, Hannah Mckay, Mentzen, , ” Marciniak, Organizations: CNN, UEFA Champions League, Guardian, Confederation, European Union, UEFA, Reuters, Champions League, Manchester City, Inter Milan Locations: Polish, Katowice, Poland, Argentina, France, Istanbul, Turkey
Washington CNN —The Biden administration on Thursday imposed sanctions on Iran’s Islamic Revolutionary Guard Corps officials accused of plotting assassinations abroad, including against former national security adviser John Bolton and former Secretary of State Mike Pompeo. “Ansari, with the support of Shahram Poursafi (Poursafi), an Iranian national, planned and attempted to assassinate two former U.S. government officials,” the Treasury Department said. Pompeo was also a target of the Iranian assassination plot, according to a federal law enforcement source familiar with the investigation and a source close to Pompeo. Seraj “has been involved in failed IRGC-IO operations in Asia and in intelligence operations targeting U.S. citizens,” it said. “Seraj previously led the IRGC-IO Special Operations Division, which is focused on special activity against Israel, where he was responsible for a series of failed operations targeting Israeli nationals,” it added.
Persons: Washington CNN —, Biden, John Bolton, Mike Pompeo, Mohammad Reza Ansari, “ Ansari, Shahram, Poursafi, Bolton, Bush, Qasem Soleimani, Pompeo, Hossein Hafez Amini, , Rey Havacilik, Sirketi, – Rouhallah Bazghandi, Reza Seraj, Bazghandi “, ” “ Bazghandi, Seraj “, “ Seraj, Brian Nelson, Organizations: Washington CNN, Islamic Revolutionary Guard, Force, US Treasury Department, Treasury Department, US Justice Department, Trump, Turkish, Rey, Rey Airlines, IRGC Intelligence Organization, Division, Treasury, Terrorism, Financial Locations: United States, East, Europe, Africa, Iranian, Rey, Türkiye, Iraq, Syria, Istanbul, , Asia, Israel
But some researchers and environmental groups - supported by companies claiming to be able to help solve the problem - say airlines have done too little to handle the issue. According to such experts, research shows that non-CO2 emissions can actually be more harmful than carbon emissions. New European Union rules on emissions trading that will come into force in 2025 will force airlines to track and report their non-C02 emissions. Airlines have pledged to reach net-zero carbon emissions by 2050, mainly by adopting Sustainable Aviation Fuel (SAF), scarce alternative fuels made from renewable sources - like biofuels or synthetic fuels - that are used to power aircraft. Based in Cambridge, England, SATAVIA says that by focusing so heavily on carbon emissions, the industry will be paying more money for a solution that could take years to have an impact.
Persons: Roger Teoh, SATAVIA, Adam Durant, Padraic Halpin, Tim Hepher, Aurora Ellis Organizations: International Air Transport Association, Imperial College London, New, Union, Airlines, Sustainable Aviation Fuel, Reuters, Thomson Locations: Istanbul, Paris, contrails, Cambridge, England
CNN —Turkish President Recep Tayyip Erdogan has stretched his rule into a third decade after Sunday’s presidential election victory. Are you ready to win both Uskudar (a large district in Istanbul) and Istanbul in the local elections in 2024? Then let’s not stop.”By winning back Istanbul, Erdogan means having it governed by a mayor from his Justice and Development (AK) Party. Before beginning his term as prime minister in 2003, Erdogan was himself mayor of Istanbul between 1994 and 1998. The opposition beat Erdogan by nearly three points in both Istanbul and Ankara in Sunday’s presidential runoff.
Persons: Recep Tayyip Erdogan, Erdogan, ” Erdogan, Ekrem Imamoglu, Imamoglu, Kemal Kilicdaroglu, Berk, “ Imamoglu, ” Esen, you’ve, you’re, ” Imamoglu, , MetroPoll, Erdogan “, Soner Cagaptay, ” Cagaptay, Canan Kaftancioglu, Esen, , Turkey ’ Organizations: CNN, Uskudar, , Istanbul, Development, Party, Welfare Party, AK Party –, Republican People’s Party, Sabanci University, , Analysts, Electoral, Rights Watch, Washington Institute for Near East, Foreign Affairs, Union of Chambers, Commodity Exchanges, Erdogan’s Locations: Istanbul, Ottoman Empire, Turkish, Ankara, Sunday’s, CHP’s Istanbul, Izmir, Erdogan’s Istanbul, Turkey
Lira hits record low as Turkey prepares for new cabinet
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: +2 min
ISTANBUL, May 31 (Reuters) - Turkey's lira tumbled on Wednesday to a fresh record low against the dollar as President Tayyip Erdogan prepared to decide the shape of his new cabinet and the direction of economic policy after an election triumph. In its third successive day of losses, the lira weakened nearly 1.5% to a record of 20.75 against the U.S. currency, taking its losses this year to nearly 10%. Investors have been concerned about the sustainability of Turkey's unorthodox economic policies as it followed a low-rate programme championed by Erdogan. A Reuters poll forecast the economy to have expanded 3.9% in the first quarter, with growth of 2.8% in 2023. Reporting by Ezgi Erkoyun; Additional reporting by Karin Strohecker; Editing by Tom Hogue and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.
Persons: Tayyip Erdogan, Erdogan, Mehmet Simsek, Ezgi Erkoyun, Karin Strohecker, Tom Hogue, Clarence Fernandez Organizations: KNG Securities, Turkish Statistical, Reuters, Thomson Locations: ISTANBUL
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