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Key takeaways from the IMF/World Bank meetings
  + stars: | 2023-10-14 | by ( ) www.reuters.com   time to read: +5 min
Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.
Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S
Key takeaways from the IMF-World Bank meetings
  + stars: | 2023-10-14 | by ( ) www.cnbc.com   time to read: +4 min
U.S. Secretary of Treasury Janet Yellen arrives for a bilateral meeting on the third day of the International Monetary Fund and World Bank annual meeting, in Marrakech, Morocco, October 11, 2023. Susana Vera | ReutersOvershadowed by fresh Middle East violence and hosted by a country still recovering from an earthquake, the week-long annual meetings of the International Monetary Fund and World Bank wrapped up on Saturday. Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer-term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France.
Persons: Janet Yellen, Susana Vera, Pierre, Olivier Gourinchas, Italy —, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen Organizations: International Monetary Fund, Bank, Reuters, Emerging, Research, HSBC, Export, Import Bank of Locations: Marrakech, Morocco, Moroccan, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China
Turkish President Tayyip Erdogan makes a speech at the Extraordinary Congress of his ruling AK Party in Ankara, Turkey October 7, 2023. "So long as this problem is not resolved in a fair way, our region will continue to live in longing of peace," Erdogan said. In this regard, as we have always underlined, the preservation of the two-state solution perspective is very important." "As justice is delayed, unfortunately the price of this is paid by Palestinians, Israelis, and our whole region," Erdogan said. The fighting comes as Ankara was working to repair ties with Israel after years of acrimony over the status of Jerusalem and the Israeli-Palestinian conflict.
Persons: Tayyip Erdogan, Murat Cetinmuhurdar, Erdogan, Hakan Fidan, Toby Chopra, Ros Russell Organizations: AK Party, Turkish Presidential Press, REUTERS, Rights, Hamas, Qatari, Thomson Locations: Ankara, Turkey, Rights ANKARA, Israel, Istanbul, Jerusalem, Spanish, Saudi, Jordanian
Turkey's Erdogan tells supporters he does not 'recognise' LGBT
  + stars: | 2023-10-07 | by ( ) www.reuters.com   time to read: +2 min
Turkish President Tayyip Erdogan makes a speech at the Extraordinary Congress of his ruling AK Party in Ankara, Turkey October 7, 2023. Murat Cetinmuhurdar/Turkish Presidential Press Office/Handout via REUTERS/File Photo Acquire Licensing RightsANKARA, Oct 7 (Reuters) - Turkey's President Tayyip Erdogan said on Saturday he did not "recognise LGBT" and vowed to combat "perverse" trends which he said aimed to destroy the institution of family in the country. Turkey's government, led by Erdogan and his Islamist-rooted AK Party, has toughened its stance on LGBTQ freedoms in recent months, particularly while campaigning for this year's elections in May. We are members of a structure that holds the institution of family solid, that strongly embraces the family institution," he said. "We will dry the roots of sneaky acts aiming to destroy our family institution by supporting perverse political, social and individual trends," he told tens of thousands of flag-waving and chanting supporters.
Persons: Tayyip Erdogan, Murat Cetinmuhurdar, Erdogan, Jan Harvey Organizations: AK Party, Turkish Presidential Press, REUTERS, Rights, AK, United Nations General Assembly, Thomson Locations: Ankara, Turkey, Rights ANKARA, New York
[1/5] Turkey's President Tayyip Erdogan addresses members of parliament as he attends the reopening of the Turkish parliament after the summer recess in Ankara, Turkey, October 1, 2023. On Sunday morning, two attackers detonated a bomb near government buildings in Ankara, killing them both and wounding two police officers. It launched an insurgency in southeast Turkey in 1984 and more than 40,000 people have been killed in the conflict. It said the attackers had hijacked the vehicle and killed its driver in Kayseri, a city 260 km (161 miles) southeast of Ankara. Turkey's armed forces have in recent years conducted several large-scale military operations in northern Iraq and northern Syria against Kurdish militants.
Persons: Tayyip Erdogan, Murat Cetinmuhurdar, Abdul, Latif Rashid, Ali Yerlikaya, Yerlikaya, Yasar Guler, Huseyin Hayatsever, Robert Birsel, Jonathan Spicer, Mark Heinrich, Alex Richardson Organizations: REUTERS Acquire, Kurdistan Workers Party, United Nations, Iraq, European Union, Reuters, PKK, Counterterrorism, Immortals Battalion, Kurdish, Islamic, Defence, Thomson Locations: Turkish, Ankara, Turkey, Handout, Iraq, Iraq ISTANBUL, Istanbul, Iraq's, Gara, Kurdistan, United States, Kayseri, Kurdish, Ataturk, Islamic State, Syria
[1/5] Turkey's President Tayyip Erdogan addresses members of parliament as he attends the reopening of the Turkish parliament after the summer recess in Ankara, Turkey, October 1, 2023. Murat Cetinmuhurdar/PPO/Handout via REUTERS Acquire Licensing RightsSummary Air strikes destroy 20 militant targets in Iraq, Turkey saysPKK group earlier claimed responsibility for Ankara attackIt was the first such attack in Ankara in yearsISTANBUL, Oct 2 (Reuters) - Turkish air strikes in north Iraq late on Sunday "neutralised" many Kurdish militants and destroyed their depots and shelters, Turkey's defence ministry said, hours after a Kurdish group claimed responsibility for a bomb attack in Ankara. The outlawed Kurdistan Workers Party (PKK) militant group claimed responsibility for the attack. The bomb killed one attacker and authorities killed the other, the interior minister said. It launched an insurgency in southeast Turkey in 1984 and more than 40,000 people have been killed in the conflict.
Persons: Tayyip Erdogan, Murat Cetinmuhurdar, Daren Butler, Robert Birsel Organizations: REUTERS Acquire, Kurdistan Workers Party, Reuters, Immortals Battalion, European Union, Renault, Turkish, Islamic, Thomson Locations: Turkish, Ankara, Turkey, Handout, Iraq, ISTANBUL, Gara, United States, Ataturk, Kayseri, Islamic State
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Investors are attracted to the fairly high yield' in Latin America, economist saysMurat Ulgen, global head of emerging markets research at HSBC, discusses emerging market sentiment and how Latin America is attractive to investors right now.
Persons: Murat Ulgen Organizations: HSBC Locations: Latin America, America
CNN —Closed to the public for more than a decade, the stunning Zeyrek Çinili Hamam has just reopened its wooden doors to the world. A team of archaeologists and historians at the hamam helped those institutions to identify exactly where their Iznik tiles came from. Ottoman know-how and seamless minimalism come together inside the Çinili Hamam to create the ultimate zone-out space. The glass stars on the domed ceilings (a signature of Ottoman hamam design) allow just enough natural light to shimmer in, but not so much that it dazzles. Yazgan says the Zeyrek Çinili Hamam will closely replicate time-honored Ottoman bathtime traditions.
Persons: Hamam, Mimar Sinan, Suleiman the, Çinili, , Koza Yazgan, , Sinan, London’s, Yazgan, Brüeckner –, Hammam, Murat Germen, Murat, Germen Murat Germen, puffy, , Istanbul’s, It’s Organizations: CNN, hamam, Istanbul Biennial, Marmara Group, Egyptian Museum, UNESCO, Hagia Locations: Istanbul’s Zeyrek, Fatih, Zeyrek, Cairo, Abu Dhabi, Mimar, Turkey, Istanbul, Ayasofya, Hagia Sofia, Ottoman, hamams, Aivita, Marmara, Valens,
New York had its share of startup investors and venture-backed companies, but it wasn't a hotbed of tech activity. After four years at the company, Wang left but chose to stay in New York to launch Bearworks, providing software to sales reps. In 2014, prior to the run of New York City IPOs, California was the leader, followed by Massachusetts and then New York. During the record fundraising year of 2021, New York startups received almost $50 billion across 1,935 companies. Northern California has long been the heartbeat of the tech industry, but Murat Bicer remembers what it was like for New York startups before the rush.
Persons: Olivier Pomel, Albert Wang, Datadog, Wang, UiPath, they've, San Francisco's OpenAI, Murat Bicer, Bicer, Datadog's, Pomel Organizations: Datadog, Big Apple, Nasdaq, National Venture Capital Association . Massachusetts, ChatGPT, Investors, Bay, RTP Ventures, RTP, Boston, Index Ventures, New York Times Locations: San Francisco, New York, Boston, Datadog, York, San Francisco Bay, East Coast, Yorkers, , New York, California, New York City IPOs , California, Massachusetts, San Francisco's, PitchBook . Northern California, Silicon Valley, West, West Coast, Europe, Pomel
Turkish President Tayyip Erdogan and his Russian counterpart Vladimir Putin attend a press conference after their meeting in Sochi, Russia September 4, 2023. Murat Cetinmuhurdar/Turkish Presidential Press Office/Handout via REUTERS/File photo Acquire Licensing RightsANKARA, Sept 21 (Reuters) - Turkish President Tayyip Erdogan said he does not agree with the negative approach other leaders are showing towards his Russian counterpart Vladimir Putin, Turkish broadcasters quoted him as saying on Thursday. I also don't find these approaches correct, because Russia is not a regular country," Erdogan was cited as saying. "Be it with its surface area or its position in the world, Russia has a clear place. NATO ally Turkey has sought to maintain good relations with both Moscow and Kyiv since Russia invaded Ukraine last year.
Persons: Tayyip Erdogan, Vladimir Putin, Murat Cetinmuhurdar, Erdogan, Moscow, Putin, Chris Reese, Alistair Bell Organizations: Turkish Presidential Press, REUTERS, Rights, United Nations General Assembly, Putin, NATO, Initiative, United Nations, Thomson Locations: Sochi, Russia, Rights ANKARA, New York, Turkey, Moscow, Kyiv, Ukraine, Ankara
Tom Williams | Cq-roll Call, Inc. | Getty ImagesTurkish President Recep Tayyip Erdogan invited Elon Musk to build his next Tesla factory in Turkey, the country's state media reported Monday. "Recalling that with the Turkish electric car Togg hitting the roads in Türkiye, Tesla entered the Turkish market, Erdogan called on Tesla to establish its seventh factory in Türkiye," Turkish state news agency Anadolu reported, citing the country's communications directorate. Musk replied that a number of Turkish suppliers are already working with Tesla and that Turkey "is among the most important candidates" for his next factory, Anadolu wrote. The department reports that of Turkey's manufacturing exports, 36% are medium-tech products and 3% are high-tech products. Anadolu Agency | Anadolu Agency | Getty Images
Persons: Elon Musk, Tesla, Tom Williams, Recep Tayyip Erdogan, Erdogan, Murat Kula, Teknofest, Musk, Malukas Organizations: Cq, Inc, Getty, Sunday, SpaceX, United Nations General Assembly, Turkish, UN, Anadolu, NEW, Elon, United Nations, Anadolu Agency, Getty Images, CNBC, Shanghai Gigafactory, Visual China, Manufacturing, Technology, U.S . Department of Commerce, AFP Locations: Turkey, New York, Manhattan, Turkish, Türkiye, United States, Anadolu, Shanghai, China, Mexico, India, Europe, Asia, Lithuania, Ukraine, Ankara, Turkiye
Saudi Arabia and the UAE have signed multibillion-dollar deals for Turkish drones in recent months. Azeri Ministry of DefenseSaudi Arabia previously showed interest in procuring Turkish drones and securing rights for local production. Bakir told Insider that Turkish drones have gained "global recognition" due to their "affordability, efficiency, and lethal capabilities" and documented successes over modern battlefields. "Moreover, Saudi Arabia could use such capabilities to balance Iran's drone technology in the long run," Ozeren said. Ozeren said the Saudi deal could help Baykar "monopolize" drone technology in Turkey but noted that crucial details about the agreement remain unknown.
Persons: Recep Tayyip Erdogan, Baykar, Abu Dhabi's, Loong, Loongs, Abu Dhabi, Abu, Ali Bakir, Erdogan, Mohammed bin Salman, Murat Kula, Bakir, Suleyman Ozeren, It's, Ozeren, Ali Atmaca, Sheikh Mohammed bin Zayed, Murat Centinmuhurdar, Bashar Assad, Paul Iddon Organizations: UAE, Service, United, United Arab Emirates, Turkey's Baykar Defense, Ministry of Defense, Anadolu Agency, Getty, Dassault Rafales, Ibn Khaldon, NATO, European Union, American University, Orion Policy Institute, Ataturk Airport, Security Initiative, Atlantic Council Locations: Saudi Arabia, Wall, Silicon, United Arab, Turkish, Riyadh, East, North Africa, South Caucasus, Ukraine, Armenian, Ministry of Defense Saudi Arabia, Republic of Turkey, Kuwait, UAE, Saudi, Istanbul, Yemen, Libya, Abu, Turkey, China, France, Qatar, Jeddah, Anadolu, Nahyan, Abu Dhabi
Summary Single-family housing starts drop 7.0% in JuneSingle-family building permits increase 2.2%Multi-family starts fall 11.6%; permits drop 5.6%WASHINGTON, July 19 (Reuters) - U.S. single-family homebuilding fell in June, but permits for future construction rose to a 12-month high as a severe shortage of previously owned houses for sale supports new construction. The decline in housing starts reported by the Commerce Department on Wednesday partially retraced an abnormally large 18.7% surge in May, which had pushed groundbreaking on single-family housing projects to an 11-month high. Single-family housing starts, which account for the bulk of homebuilding, dropped 7.0% to a seasonally adjusted annual rate of 935,000 units last month. In June, single-family homebuilding fell in the Northeast, Midwest as well as the densely populated South, but jumped 4.6% in the West. Housing starts and building permitsHOUSING STABILIZING"Today's report continues to suggest stabilization," said Murat Tasci, an economist at JPMorgan in New York.
Persons: homebuilding, Mark Palim, Fannie, Freddie Mac, Murat Tasci, Nancy Vanden, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Commerce Department, Builders, Reuters, Federal, National Association of Home Builders, Treasury, Housing, JPMorgan, Oxford Economics, Thomson Locations: WASHINGTON, Fannie Mae, Washington, homebuilding, Northeast, Midwest, Wells Fargo, New York, West, Nancy Vanden Houten, U.S
Summary Single-family housing starts drop 7.0% in JuneSingle-family building permits increase 2.2%Multi-family starts fall 11.6%; permits drop 5.6%WASHINGTON, July 19 (Reuters) - U.S. single-family homebuilding fell in June, but permits for future construction rose to a 12-month high as a severe shortage of previously owned houses for sale supports new construction. The decline in housing starts reported by the Commerce Department on Wednesday partially retraced an abnormally large 18.7% surge in May, which had pushed groundbreaking on single-family housing projects to an 11-month high. Single-family housing starts, which account for the bulk of homebuilding, dropped 7.0% to a seasonally adjusted annual rate of 935,000 units last month. In June, single-family homebuilding fell in the Northeast, Midwest as well as the densely populated South, but jumped 4.6% in the West. Housing starts and building permitsHOUSING STABILIZING"Today's report continues to suggest stabilization," said Murat Tasci, an economist at JPMorgan in New York.
Persons: homebuilding, Mark Palim, Fannie, Freddie Mac, Murat Tasci, Nancy Vanden, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Commerce Department, Builders, Reuters, Federal, National Association of Home Builders, Treasury, Housing, JPMorgan, Oxford Economics, Thomson Locations: WASHINGTON, Fannie Mae, Washington, homebuilding, Northeast, Midwest, Wells Fargo, New York, West, Nancy Vanden Houten, U.S
The US began ramping up ammunition production last year when it became clear that the war would drag on far longer than anticipated. But the ammunition will still take “years” to mass produce to acceptable levels, National Security adviser Jake Sullivan told CNN Sunday. Ukrainian troops now typically fire between 2,000 and 3,000 artillery shells per day at Russian forces, a US defense official told CNN. It was necessary, though, because of how low US stockpiles are, Sullivan told CNN Sunday. “All of us have had to struggle stimulating our supply chains, some of which went to sleep,” he told CNN.
Persons: Ben Wallace, that’s, Jake Sullivan, haven’t, , Defense Lloyd Austin, John Kirchhofer, Mark Milley, Joe Biden, Sullivan, Biden, , , ” Sullivan, ” Nebraska Republican Sen, Deb Fischer, Lockheed Martin, Fischer, ” Fischer, I’m, , Ellen Lovett, ” Lovett, ” Wallace, ” Said, Volodymyr Zelenskyy, Recep Tayyip Erdogan, Rishi Sunak, Murat Kula, Charles Q, Brown, Jr Organizations: Washington CNN, NATO, CNN, US, National, CNN Sunday, Pentagon, The Defense Department, EyePress, Reuters, Defense, Defense Intelligence Agency’s, Joint Chiefs, Staff, National Press Club, ” Nebraska Republican, Senate’s Armed Services, Lockheed, , Britain's, Anadolu Agency, Getty, European Union, EU, DoD, US Air Force, Joint Chiefs of Staff, Defense Industrial Base Locations: Europe, Ukraine, Russia, Berlin, Swiss, Germany, Switzerland, Ukrainian, Kreminna, Luhansk, , United States, Vilnius
The first parts of a Russian S-400 system are unloaded at an airport near Ankara in July 2019. Turkey's S-400 lacks that integration, as it hasn't been connected to NATO's radar network because alliance members fear that doing so could expose other systems to Russian observation. That made Russia's S-400 seem like not only a valid alternative but a preferable option to the US-made Patriot missile-defense system. (The US withdrew Patriot batteries from Turkey in late 2015, adding to Turkish concerns and desire for another air-defense system.) After the initial signing, the deal went into limbo over reported political disagreements and Turkey never received the system.
Persons: hasn't, Turkey's, Recep Tayyip Erdogan's, Lisel, David E, Banks, Erdogan, UMIT TURHAN COSKUN, Washington, Jens Stoltenberg, Orhan Cicek, MURAT CETINMUHURDAR Organizations: Service, Ankara, Turkish, NATO, Turkish Defence Ministry, Johns Hopkins University, King's College, Getty, ISIS, Kurdish PKK, Patriot, US, NATO NATO, Anadolu Agency Locations: Russian, Turkey, Ankara, Wall, Silicon, Russia, Turkish, King's College London, Hintz, Istanbul, AFP, Erdogan's, Washington, Kurdish, East, Eurasia, Banks, TURKISH, Moscow, France, Italy, Franco, Italian
Hong Kong CNN —Last year, the world watched closely as China’s Xi Jinping, Russia’s Vladimir Putin, Narendra Modi of India and other world leaders within a Moscow-friendly group gathered in the Uzbek city of Samarkand for a high-profile, two-day summit. World leaders pose for a photo during the Shanghai Cooperation Organization summit in Samarkand, Uzbekistan, on September 16, 2022. It remains unknown how tight a grip Putin now has on power in Moscow, and although he attended last year’s SCO summit, he has rarely left Russia since his invasion of Ukraine. Face-to-face meetings, however, can also provide opportunity for world leaders to talk out sensitive issues or push on points of contention that may be handled less delicately in a virtual setting. Given their respective ties with Moscow, both China and India have received pressure from the West to limit their relations or even push Putin toward peace.
Persons: Hong Kong CNN —, Xi, Russia’s Vladimir Putin, Narendra Modi, Putin –, Putin, Modi –, , Modi, , Manoj Joshi, India didn’t, Murat Kula, what’s, Wagner, Steve Tsang, It’s, , Moritz Rudolf, Paul Tsai, Tsang, Putin “ Organizations: Hong Kong CNN, Shanghai Cooperation Organization, SCO, , Observer Research, Anadolu Agency, Getty, SOAS China Institute, University of London, Moscow, Paul Tsai China Center of, Yale Law School, Central, Soviet, Ukraine Locations: Hong Kong, India, Moscow, Uzbek, Samarkand, Ukraine, Eurasia, Russia, China, New Delhi, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, , Iran, Washington, , Europe, Beijing, Belarus, Central Asia, Soviet Union
CNN —All eyes will be on Vladimir Putin this week, with the Russian president expected to make his first appearance on the world stage since the Wagner insurrection threatened his steel grip on power. In the brief, chaotic insurrection, Wagner – a private mercenary group led by warlord Yevgeny Prigozhin – took control of key military facilities in two Russian cities. Participants of the 22nd meeting of the Shanghai Cooperation Organization (SCO) leaders' summit in Samarkand, Uzbekistan on September 16, 2022. By contrast, Putin managed to end the Wagner insurrection before it reached the capital, without bloodshed. Modi made headlines at last year’s in-person SCO summit in Samarkand, Uzbekistan, when he told Putin that now is not the time for war, appearing to directly rebuff the invasion.
Persons: Vladimir Putin, Wagner, Putin, Wagner –, Yevgeny Prigozhin –, Prigozhin, Xi, India’s Narendra Modi –, , they’re, , Derek Grossman, Grossman, ” Grossman, Murat Kula, , Yasuhiro Matsuda, Matsuda, ” Matsuda, “ Xi Jinping, Alexander Korolev, That’s, won’t, Korolev, India’s Modi, Modi, Joe Biden, RAND’s Grossman, India’s Organizations: CNN, Shanghai Cooperation Organization, SCO, Kremlin, RAND Corporation, Anadolu Agency, Getty, Russia, NATO, Chinese Foreign Ministry, Institute for Advanced Studies, University of Tokyo, “ Russia, China –, Kazakhstan, University of New Locations: Russian, Beijing, Moscow, Belarus, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, US, Russia, China, Samarkand, Central Asia, Iran, Ukraine, Europe, Asia, University of New South Wales, Australia, India, Washington, Indian, Goa, Delhi
CNN —Frances Tiafoe has become just the third Black American to break into the men’s top 10 after winning his third career title in Stuttgart on Sunday. Speaking to reporters after his nail-biting 4-6 7-6(1) 7-6(8) win over German Jan-Lennard Struff, Tiafoe said he was “super emotional” after moving to 10th in the world rankings. “I’m a guy who shouldn’t even really be here doing half the things he’s doing,” Tiafoe said. “Hopefully, I can ride that for a long time.”Tiafoe has been heralded as the potential future of men’s tennis in the US and he’s starting to fulfil those expectations. His father, Constant Tiafoe, started working at the Junior Tennis Champions Center in Washington, D.C. back in 1999 and eventually moved into one of its vacant storage rooms while working around the clock.
Persons: Frances Tiafoe, Arthur Ashe, James Blake, Lennard Struff, Tiafoe, , ” Tiafoe, Frances, Constant Tiafoe, Marijan Murat, , , Taylor Fritz – it’s, Mardy Fish, John Isner Organizations: CNN, American, Sunday, Sierra Leone, Junior Tennis, Center, AP Locations: Stuttgart, Franklin, Washington ,
Official results showed Erdogan winning with 52.1% of the vote, while opposition leader Kemal Kilicdaroglu emerged with 47.9%. Murat Somer, a political science professor at Koc University in Istanbul, expects a hardened approach by Erdogan towards the opposition and his critics. “[Erdogan is] likely to continue his unorthodox economic policies because these actually serve his interests,” Somer told CNN. Becky Anderson's full interview with Turkish President Erdogan 20:52 - Source: CNNKorhan Kocak, an assistant professor of political science at New York University Abu Dhabi in the United Arab Emirates, worries about Erdogan’s moves after the election. And Erdogan is the man that delivered that to them.”Cagaptay said that Erdogan’s foreign policy is unlikely to change.
CNN —A crucial deal aimed at averting a global food crisis following Russia’s invasion of Ukraine has been extended for two months. Turkish President Recep Tayyip Erdogan said Wednesday an agreement has been reached with Russia and Ukraine to extend the Black Sea grain deal. Murat Kula/Anadolu Agency/Getty ImagesWhat is the Black Sea grain deal and why is it important? The Black Sea grain deal was first reached in July 2022. The Black Sea grain deal was an agreement made between Russia and Ukraine – however, it was not a direct agreement.
But for the next two weeks, he may become the most important figure in Turkish politics, potentially deciding President Recep Tayyip Erdogan’s political fate. Preliminary results from the YSK showed Erdogan as having received 49.51% of the vote, while Kilicdaroglu had 44.88%. Ogan, the third candidate, received 5.17%, enough to swing the runoff vote in favor of either of the candidates. But his political career began with the far-right Nationalist Movement Party (MHP), where he spent six years before splitting with it, partly due to its growing closeness with Erdogan’s AK Party, according to Turkish media. Formerly in the opposition, the MHP joined the People Alliance that is led by Erdogan’s AK Party in this election.
[1/3] Turkish President Tayyip Erdogan greets his supporters as he leaves his residence in Istanbul, Turkey May 14, 2023. I would expect a significant crash in the Istanbul stock exchange and lots of fluctuations in the currency. Both sides will try to make a case for themselves but Erdogan will be in an advantage in a second round. GALIP DALAY, ASSOCIATE FELLOW AT CHATHAM HOUSE"If the current numbers are confirmed by the Supreme Election Board, the governing coalition will go to the second round with numeric and psychological advantages. It has the majority in the parliament and Erdogan is poised to go to the second round with a lead over his rival, Kemal Kilicdaroglu."
The May 14 vote, which lands during the Turkish Republic's centenary year, is Erdogan's biggest test yet. At the same time, a global reversal in market liquidity left Turkey and other emerging markets starved for funding. But the economic crisis was damaging. This trend accelerated in 2013, wiping out big gains made in 2006-2010 during Erdogan's first decade in charge. "If Erdogan wins the election and continues his economic policy it will come to a complete crash at one point.
The strengthening ties between Erdogan and Putin have caused jitters in the West, with some watching the upcoming elections with anticipation of a possible Erdogan exit. That makes Russia among Turkey’s biggest trade partners. The European Union, as a bloc, however remains Turkey’s largest trade partner, with bilateral trade reaching around $219 billion, according to the European Commission. But while relations with the EU might improve if the opposition wins, the road may be longer and more challenging with the US, experts say. “When we mention Turkey’s relationship with the West… we sometimes take both ends of the Atlantic (as one),” Isci said.
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