DIRS.INFO The most relevant business & tech news

☆ Turkey's Erdogan on First Egypt Visit in Decade With Gaza in Focus
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

CAIRO/ANKARA (Reuters) -Turkish President Tayyip Erdogan made his first visit to Egypt since 2012 on Wednesday to meet President Abdel Fattah al-Sisi, taking a big step toward rebuilding ties between the regional powers. Erdogan has said discussions would focus on Israel's Gaza offensive. The visit caps diplomatic efforts in recent years to thaw the nations' frosty relations. They mutually appointed ambassadors last year, and this month Turkey said it would provide Egypt with armed drones. (Reporting by Nayera Abdallah and Tala Ramadan in Dubai, Ece Toksabay in Ankara, Writing by Jonathan Spicer; Editing by Andrew Heavens)Photos You Should See View All 22 Images

Persons: Tayyip Erdogan, Abdel Fattah al, Erdogan, Egypt's, Sisi, Mohamed Mursi, Nayera Abdallah, Tala, Jonathan Spicer, Andrew Heavens Organizations: Muslim, Ece Toksabay Locations: CAIRO, ANKARA, Egypt, Turkey, Israel, Gaza, Ankara, Cairo, Dubai

☆ Armed Attack During Istanbul Mayor Election Campaign Injures Woman
▼ + stars: | 2024-02-10 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

ISTANBUL (Reuters) - A woman was wounded in an armed attack on Saturday during Turkey's ruling AK Party's mayoral election campaign in Istanbul, Interior Minister Ali Yerlikaya said. An investigation has been launched into the incident, which occurred in the city's southwestern Kucukcekmece district, Yerlikaya said on social media platform X. The attackers fired with long-barrelled guns and pistols but there were no further details of their identity or motive. War in Israel and Gaza View All 206 ImagesTurkish President Tayyip Erdogan condemned the attack on X, previously Twitter. "No attack on our democracy, unity and solidarity will succeed," he said.

Persons: Ali Yerlikaya, Yerlikaya, Tayyip Erdogan, Burcu, Clelia Oziel Organizations: AK Locations: ISTANBUL, Istanbul, Kucukcekmece district, Israel, Gaza, Turkey

☆ Russia Says It Foiled Ukrainian Drone Attack on Civilian Cargo Ships in Black Sea
▼ + stars: | 2024-02-10 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

MOSCOW (Reuters) -Russia said on Saturday it had repelled an attempted Ukrainian drone attack on Russian "civilian transport ships" on Friday evening in the southwestern part of the Black Sea, a key artery for grain and oil exports from both countries. It said Russian patrol boats and warplanes had averted the attack, destroying one Ukrainian naval drone by artillery fire and disabling the rest by electronic warfare. A day later, Ukraine said it would adopt the same stance on ships bound for Russian and Russian-controlled Ukrainian ports. The southwestern part of the Black Sea adjoins Turkey's Bosphorus Strait through which cargoes leaving the sea travel. Ukraine has in recent months mounted a series of drone and missile attacks on Russian military targets in the Black Sea, sinking at least one naval vessel and damaging others.

Persons: ReutersWriting, Felix LightEditing, Helen PopperEditing, Mark Heinrich, Giles Elgood, Helen Popper Organizations: Civilian, Russia's Defence Ministry Locations: MOSCOW, Russia, Ukrainian, Russian, Moscow, Ukraine, Turkish

ANKARA, Turkey (AP) — The work to tame inflation in Turkey — namely through interest rate hikes — will continue “with determination,” the country’s new central bank chief said Thursday, offering some certainty about efforts to right the battered economy following his precedessor's surprise resignation. The duty of the central bank is to ensure and maintain price stability,” Karahan told reporters in Turkey’s capital, Ankara. Erdogan, who has previously fired central bank governors who spurned his unorthodox policies, appointed the new economic team after getting reelected in May. The Turkish central bank most recently raised its key interest rate by 2.5 percentage points in January, when inflation reached nearly 65%. Despite such hikes, inflation remains high — consumer prices rose to an eye-watering 64.86% in January from a year earlier, according to figures released Monday, up from 64.77% in December.

Persons: Fatih Karahan, Goldman Sachs, Karahan, Mehmet Simsek, ” Karahan, Hafize Gaye Erkan, ”, Erkan, Recep Tayyip Erdogan's, Erdogan, ___ Robert Badendieck Organizations: Finance, Turkish Locations: ANKARA, Turkey, Ankara, Turkish, Ukraine, Istanbul

☆ McDonald's says its chicken options are now just as popular as beef
▼ + stars: | 2024-02-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

McDonald's makes as much money from chicken products as from beef burgers, its CEO said Monday. McDonald's told investors in December that it planned to offer the McCrispy in almost all its markets globally by the end of 2025. We've also added smoked chicken wings, and that was a direct response to Gen Z." Taco Bell's former CEO Mark King told Bloomberg that its Gen Z customers were increasingly opting for chicken over beef. Wendy's told BI that its Spicy Chicken Nuggets were especially popular among Gen Zers.

Persons: McDonald's, Chris Kempczinski, —, Ian Borden, Kempczinski, McSpicy, Chick, Laura Dickey, we've, hasn't, We've, Gen, Taco, Mark King, Wendy's, Zers Organizations: Service, KFC, Gen, Bloomberg, Morning Locations: Singapore

☆ Erdogan, Putin to Discuss Ukraine and Grain Deal During Turkey Visit -Minister
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - Turkish President Tayyip Erdogan and his Russian counterpart Vladimir Putin will discuss the war in Ukraine and the Black Sea Grain Initiative during a visit to Ankara by the Russian leader, Turkey's foreign minister said on Tuesday. A Turkish official told Reuters last week he would visit Turkey on Feb. 12. Ankara has sought to persuade Russia to return to the Black Sea Grain Initiative - brokered by Turkey and the United Nations - that ensured the safe export of Ukrainian grain during the war via the Black Sea. Speaking at a press conference in the Maltese capital Valletta, Fidan said Turkey was working with Ukraine and Russia to revive the accord. The Kremlin has said Erdogan and Putin would discuss setting up a gas hub in Turkey and the war in Ukraine during the visit.

Persons: Tayyip Erdogan, Vladimir Putin, Hakan Fidan, Fidan, Erdogan, Putin, Jonathan Spicer, Alison Williams Organizations: NATO, Reuters, United Nations, Kyiv Locations: ANKARA, Ukraine, Ankara, Russian, Turkey, Russia, Maltese, Valletta, Moscow, Syria, Libya, Southern Caucasus, Israel, Gaza

☆ Turkey's Drone Maker Baykar Begins to Build Plant in Ukraine
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Baykar has said it has signed export deals for its TB2 drone with 30 countries. These include Ukraine, Ethiopia, Libya and Azerbaijan since 2018, according to think tank SIPRI. Bayraktar also said the Istanbul-based firm's plans to start production in Saudi Arabia in the next two years were on track. The announcement follows an agreement in July to sell the Bayraktar Akinci, another kind of drone, to Saudi Arabia in what Baykar described as the biggest defence contract in Turkey's history. It also aims to produce the new models of the Kızılelma and the TB3 drones "in the tens," he added.

Persons: Pesha Magid, Baykar, Haluk Bayraktar, Bayraktar, Lockheed Martin, Federico Maccioni, Alexandra Hudson Organizations: Reuters, World Defense, U.S, Lockheed, Saudi Locations: Pesha, Pesha Magid RIYADH, Turkish, Kyiv, Ukraine, Ethiopia, Libya, Azerbaijan, Riyadh, Israel, Gaza, Ukrainian, Istanbul, Saudi Arabia

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

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

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

ISTANBUL (AP) — Turkey has seen its fifth central bank leader depart in as many years as Hafize Gaye Erkan, the first woman in the top role, stepped down after just eight months in the job. Photos You Should See View All 45 ImagesHere are key things to know about the central bank shakeup and what it means for Turkey's battered economy:WHY IS THERE A NEW CENTRAL BANK LEADER? Erkan resigned after weeks of media stories about her father’s undue influence in the central bank’s Istanbul office. Previous changes in central bank leadership has seen Erdogan row back on efforts to bring inflation under control through interest rate hikes. He was brought in as the bank’s deputy head at the same time Simsek took over the Finance Ministry and Erkan was appointed to lead the central bank.

Persons: Hafize Gaye Erkan, Goldman Sachs, Recep Tayyip Erdogan, — Erkan, ”, Fatih Karahan, Mehmet Simsek, Erdogan, Erkan, Karahan, Simsek's, Simsek, Liam Peach, Selcuki, ” “ It’s, ” Selcuki Organizations: —, Finance, WHO, FATIH, Finance Ministry, University of Pennsylvania, Federal Reserve Bank of New, Amazon, Capital Economics, Istanbul Economy Research Locations: ISTANBUL, — Turkey, Turkey, Istanbul, Simsek, U.S, Federal Reserve Bank of New York, Columbia, New York, Ankara

☆ Turkey's new central bank governor, formerly at Amazon and New York Fed, seen as a 'credible choice'
▼ + stars: | 2024-02-05 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Turkey's newly appointed central bank governor Fatih Karahan has his work cut out for him, named to the job by presidential decree over the weekend after the sudden resignation of his predecessor, Hafize Gaye Erkan. Previously the central bank's deputy governor, Karahan's resume features years spent in prominent American institutions and companies. Turkey's consumer price index print came out Monday showing a roughly 65% increase year-on-year for the month of January. Its central bank has made eight consecutive interest rate hikes since May 2023 — for a cumulative 3,650 basis points — in an effort to rein in soaring inflation. While painful for the country, investors and economists say the rate hikes have been necessary and that continuity in monetary policy priorities will engender confidence in the new central bank chief.

Persons: Turkey's, Fatih Karahan, Hafize Gaye Erkan, Karahan's, —, Karahan Organizations: University of Pennsylvania, Federal Reserve Bank of New, Columbia University, New York University, Amazon, greenback Locations: Federal Reserve Bank of New York, Turkish

☆ Turkey's inflation sees biggest monthly jump since August, nears 65% year-on-year
▼ + stars: | 2024-02-05 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

President of Turkey Recep Erdogan addresses journalists during the final national press conference during the high level NATO summit in Litexpo Conference Centre in Vilnius, Lithuania on July 12, 2023. Inflation in Turkey for the month of January saw its biggest monthly jump since August, rising 6.7% from the month prior, while year-on-year inflation hit nearly 65%, according to the Turkish Central Bank's figures released Monday. This is a breaking news story, please check back later for more.

Persons: Turkey Recep Erdogan Organizations: NATO, Conference Locations: Turkey, Vilnius, Lithuania, Turkish Central

The governing Fidesz party, which holds an absolute majority in parliament, has stalled Sweden’s bid since July 2022, alleging that Swedish politicians have told “blatant lies” about the condition of Hungary’s democracy. “The prime minister pledged to convene parliament to urge parliament to act at its earliest opportunity. Kristersson has said that he will make the trip, but only after Hungary approves his country's NATO membership. But Vadai, the lawmaker, said that there was no guarantee that Orbán's party would commit to a swift approval. “I’m not sure whether the opening session will start with the Swedish ratification, unfortunately,” she said.

Persons: Viktor Orbán, Hungary's, Orbán, Jens Stoltenberg, ”, didn't, David Pressman, Pressman, expeditiously, Sen, Ben Cardin, Agnes Vadai, “, it’s, Ulf Kristersson, Kristersson, “ I’m Organizations: — Lawmakers, NATO, Fidesz, U.S, Maryland Democrat, Senate Foreign Relations, ”, Democratic Coalition, Associated Press, Swedish Locations: BUDAPEST, Hungary, Hungarian, United States, NATO, U.S, Maryland, Budapest, Swedish, Hungary's

ISTANBUL (AP) — A year ago, a devastating 7.8 magnitude earthquake struck southern Turkey and northwestern Syria, causing widespread destruction and the loss of over 59,000 lives. Photos You Should See View All 45 ImagesThe disaster led to a massive international rescue and aid operation involving dozens of countries and organizations. The World Bank estimated the damage caused at $34.2 billion in Turkey and $5.1 billion in Syria. The East Anatolian fault system, where the disaster occurred, is near where the Anatolian, Arabian and African tectonic plates come together. The East Anatolian fault had last seen a quake of magnitude 7 or greater in 1822, when at least 10,000 were killed in Syria’s Aleppo.

Persons: Mehmet Ozhaseki, February’s, transgressors, Abby Sewell, Suzan Fraser Organizations: —, Turkey's, Interior Ministry, United Nations, World Bank, Food Program, WFP, Associated Press Locations: ISTANBUL, Turkey, Syria, Turkey’s Kahramanmaras, Idlib, Aleppo, Istanbul, Elazig, Hatay, SYRIA, Brussels, Beirut, Ankara

☆ Turkey central bank chief quits, citing need to protect her family
▼ + stars: | 2024-02-03 | by ( ) www.cnbc.com time to read: +3 min

Turkish Central Bank Governor Hafize Gaye Erkan answers questions during a news conference for the Inflation Report 2023-III in Ankara, Turkey on July 27, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesTurkey's central bank governor Hafize Gaye Erkan resigned on Friday, citing a need to protect her family amid a "reputation assassination", and she was swiftly replaced by a deputy who is expected to carry on her tight policy stance. The first woman to lead the central bank, Erkan was its fifth governor in as many years. Since then the central bank had hiked its key rate to 45% from 8.5%. Last month, opposition newspaper Sozcu published an article about a central bank employee who said she was wrongfully dismissed from the bank by Erkan's father.

Persons: Turkish Central Bank Governor Hafize Gaye Erkan, Hafize Gaye Erkan, Tayyip Erdogan, Erkan, Fatih Karahan, Erdogan, Sozcu, Erkan's Organizations: Turkish Central Bank Governor, Anadolu Agency, Getty, Official Gazette, Turks, Federal Reserve Bank of New Locations: Ankara, Turkey, Federal Reserve Bank of New York, U.S

BUDAPEST, Hungary (AP) — A bipartisan group of U.S. lawmakers are urging Hungary to immediately ratify Sweden's application to join NATO, saying patience with the Central European country is “wearing thin” as it continues to delay its approval for the Nordic nation. “Despite its numerous prior public commitments, Hungary is the last remaining NATO member to have not ratified Sweden’s bid and both time and patience are wearing thin. Hungary’s inaction risks irrevocably damaging its relationship with the United States and with NATO,” the senators wrote. Orbán, a staunch nationalist that has led Hungary since 2010, has long promised that his country wouldn't be the last NATO member to approve Sweden's application. Photos You Should See View All 45 ImagesA vote on the protocols for Sweden’s NATO accession hasn’t yet appeared on the Hungarian parliament’s agenda, and the matter is unlikely to go before lawmakers until at least late February when the parliament reconvenes.

Persons: Jeanne Shaheen, Thom Tillis, Viktor Orbán, Orbán, Sen, Ben Cardin, ” Cardin, Biden, Cardin, ”, “ Organizations: NATO, Central, New, New Hampshire Democrat, North Carolina Republican, Hungarian, Maryland Democrat, Senate Foreign Relations, U.S, Visa, Global, European Union Locations: BUDAPEST, Hungary, U.S, Nordic, Budapest, Sens, New Hampshire, United States, Ukraine, Maryland, Washington

☆ I left the US and moved to Istanbul for a fresh start. I love it here, and my American dollars go far.
▼ + stars: | 2024-01-31 | by ( Maria Mocerino | ) www.businessinsider.com time to read: +7 min

I left the US to start over and I've spent the past few months falling love with Istanbul. The city is stunning and bustling — and I find that my American dollars go far here. For example, I'm living in a digital-nomad hotel in Kadikoy, one of the hippest neighborhoods on the Asian side, right by the water. I'm able to save money each month, which I always found challenging to do while living in NYC. I've had chestnuts, corn, and mussels stuffed with spiced rice and topped with fresh lemon juice for just a few dollars.

Persons: I've, It's, —, who's, I'd, Maria Mocerino, Hagia Sophia Organizations: Service, East, West, Yorker Locations: Istanbul, United States, Los Angeles and New York City, —, Central Asia, Kadikoy, NYC, Europe, Asia, Marmara, Hagia, Sultanahmet, Beyoğlu

☆ I was a VIP tour guide at Disneyland. Here are 5 things I saw people regret when they visited the parks.
▼ + stars: | 2024-01-31 | by ( Amber Wainwright | ) www.businessinsider.com time to read: +4 min

I worked as a VIP tour guide at Disneyland and have seen guests regret how they spend their time. AdvertisementWhile working at Disneyland as a VIP tour guide, I noticed that plenty of guests regret how they spend their time in the parks. However, I've noticed that many park guests fail to remember that their outfits should also be functional. Don't miss a less busy park day because of a little bit of rain. Amber WainwrightGoing to the parks with friends is a lot of fun, but there are also perks to enjoying a park day alone.

Persons: —, Amber Wainwright, I've, it's Organizations: Service, Disney

☆ Canada Drops Weapons Export Controls to Turkey, Including Drone Technology
▼ + stars: | 2024-01-29 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

OTTAWA (Reuters) - Canada on Monday said it had dropped weapons export controls to Turkey, including drone optical technology, according to a notice posted online, saying that from now on it would review all exports on a case-by-case basis. Canada had linked resolving the export freeze with Turkey's welcoming of Sweden into the North Atlantic Treaty Organization (NATO), which it did last week. Canada will examine each export on case-by-case basis and said it can cancel permits at any time if there is misuse, the statement said. The notification process, which is standard under the international arms trade, covers Wescam sensors used in Turkey's Bayraktar TB2 drones and other dual-use goods and arms-related exports. "The Armenian National Committee of Canada (ANCC) condemns the recent decision by the Government of Canada to lift its longstanding arms embargo on Turkey," the group said in a statement online.

Persons: Steve Scherer, Ismail Shakil, Marguerita Choy Organizations: OTTAWA, NATO, Atlantic Treaty Organization, Armenian National Committee of Canada, Government of Locations: Canada, Turkey, Turkish, Azerbaijan, Nagorno Karabakh, Baku, Sweden, NATO, Ukraine, Government of Canada

☆ Turkey Moving Swiftly Toward Final Step on Sweden's NATO Bid
▼ + stars: | 2024-01-26 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

ISTANBUL (Reuters) - Turkey is expected to send the final instrument of ratification for Sweden's NATO membership to Washington within days, now that President Tayyip Erdogan signed it off, in a move Ankara hopes will clear the way to its purchase of U.S. F-16 fighter jets. A source familiar with the issue said the document could be deposited as early as Friday, marking the last step in a process that began in 2022. After 20 months of delay, Turkey moved rapidly this week to ratify the Swedish bid, with parliamentary ratification coming on Tuesday and President Tayyip Erdogan signing off on the approval on Thursday. As per formal NATO rules, the final document in the process - the instrument of ratification - needs to be deposited in the U.S. State Department archives in Washington. Both Erdogan and members of the U.S. Congress had previously linked Ankara's final approval of Sweden to the $20 billion sale of Lockheed Martin F-16s and modernization kits to Turkey.

Persons: Tayyip Erdogan, Erdogan, Lockheed Martin, Joe Biden, Jonathan Spicer, Tomasz Janowski Organizations: NATO, U.S, U.S . State Department, U.S . Congress, Lockheed, Turkish, Reuters, Congress, State Department Locations: ISTANBUL, Turkey, Washington, Ankara, Hungary, Sweden, NATO, Ambassador

☆ Exclusive-Canada to Re-Start Turkey Arms Exports After Sweden NATO Backing -Sources
▼ + stars: | 2024-01-26 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

By Jonathan SpicerISTANBUL (Reuters) - Canada and Turkey have reached a deal to restart Canadian exports of drone parts in exchange for more transparency on where they are used, and it would take effect after Ankara completes its ratification of Sweden's NATO bid, two sources told Reuters. A second person familiar with the plan said the sides agreed it would take effect after Sweden's ratification was complete. U.S. leaders have said Turkey's ratification of Sweden's NATO membership clears the way for Ankara's long-sought purchase of U.S. F-16 fighter jets. Ottawa halted talks on lifting them in 2022 when Ankara raised objections to both Finland and Sweden's NATO bids. But it re-started talks after a NATO leaders summit in July last year, Reuters reported at the time.

Persons: Jonathan Spicer ISTANBUL, Charlotte MacLeod, Jonathan Spicer, Steve Scherer, Toby Chopra Organizations: NATO, Reuters, Canadian Foreign Ministry, U.S, Ottawa Locations: Canada, Turkey, Ankara, Hungary, Washington, Ottawa, NATO, Stockholm, Turkish, Azerbaijan, Nagorno Karabakh, Baku, Finland, Istanbul

☆ US Envoy Sees Rapid F-16s Sale to Turkey After Sweden NATO Bid Sign-Off
▼ + stars: | 2024-01-25 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

In an exclusive interview on Thursday, Ambassador Jeff Flake said that once the formal ratification document is received in Washington, the U.S. State Department will immediately send Congress notification of the F-16s sale. Turkey's parliament ratified Sweden's NATO membership bid on Tuesday, clearing a major hurdle to expanding the Western military alliance after 20 months of delay. "So I would expect as soon as that is conveyed to Washington, then congressional notification (of the F-16 sales) will happen." "The president here needs to sign it and then the instrument needs to be conveyed to Washington," he told Reuters by phone. Both Erdogan and members of the U.S. Congress had tied Turkey's backing of Sweden's NATO bid with congressional approval of the $20 billion sale of Lockheed Martin aircraft and modernization kits to Turkey.

Persons: Jonathan Spicer ISTANBUL, Tayyip Erdogan, Jeff Flake, Erdogan, Lockheed Martin, Joe Biden, Jonathan Spicer, Mark Potter Organizations: NATO, U.S, Congress, U.S . State Department, Gazette, Republican, Reuters, U.S . Congress, Lockheed Locations: U.S, Turkey, Ankara, Washington, Sweden, NATO

ANKARA, Turkey (AP) — Turkey’s central bank raised its key interest rate by another 2.5 percentage points on Thursday, pressing ahead with a series of hikes aimed at combating inflation that reached nearly 65% in December. Erdogan is a longtime proponent of an unorthodox policy of cutting interest rates to fight inflation, which runs contrary to mainstream economic thinking. The European Central Bank is expected to keep its record-high benchmark rate steady at its meeting Thursday, following a rapid series of hikes over more than a year. Hafize Gaye Erkan, a former U.S.-based bank executive, took over as central bank governor in June, becoming the first woman to hold that position in Turkey. Previously, Erdogan had fired central governments who reportedly resisted his push to cut interest rates.

Persons: Recep Tayyip Erdogan, Erdogan, Merrill Lynch, Mehmet Simsek, Hafize Gaye Erkan, Erkan, ” Organizations: European Central Bank, Turkish Locations: ANKARA, Turkey, Ukraine, U.S

☆ Turkey hikes interest rate again to 45% after inflation nears 65%
▼ + stars: | 2024-01-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Turkey's central bank on Thursday hiked its key interest rate by another 250 basis points to 45%. The hike to the benchmark one-week repo rate was in line with economists' expectations. It comes amid an ongoing battle against double-digit inflation for Turkey's monetary policymakers, with the rate hike the latest step in that effort. The last several years of high inflation are in large part the result of stubbornly loose monetary policy by the Ankara government.

Organizations: Turkish, U.S, greenback Locations: Istanbul, Turkey, Turkey's, Ankara

☆ US Says It Is Looking Forward to Turkey Finalizing Sweden's NATO Process
▼ + stars: | 2024-01-24 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

By Humeyra PamukWASHINGTON (Reuters) - The United States on Wednesday welcomed the Turkish parliament's ratification of Sweden's NATO membership bid this week and urged Ankara to formally finalize the process. State Department deputy spokesperson Vedant Patel told a briefing that Washington was looking forward to Hungary, which has yet to approve Sweden's NATO bid, moving along in the process. Turkey's ratification of Sweden's NATO bid and the U.S. sale of F-16 fighter jets to Turkey have become linked over the past years. The Biden administration has said it supports the sale but kept urging Ankara to approve Sweden's NATO bid saying Congress might be connecting the two issues. When asked on Wednesday if the State Department would send the formal notification for the jets once Sweden's NATO process is fully formalized, Patel did not commit to a timeline.

Persons: Humeyra Pamuk, Vedant Patel, Washington, Tayyip, Erdogan, Patel, Biden, Blinken, I'm, Jasper Ward, Simon Lewis, Daphne Psaledakis, Alistair Bell Organizations: Wednesday, NATO, State Department, Finland's Locations: Humeyra Pamuk WASHINGTON, United States, Ankara, Hungary, Washington, Sweden, Finland, Turkey, U.S, NATO, Turkey's, Jasper

BUDAPEST, Hungary (AP) — With Turkey completing its ratification of Sweden's bid to join NATO, Hungary is the last member of the military alliance not to have given its approval. Orbán has long promised that Hungary wouldn't be the last NATO member to ratify Sweden's request to join the alliance. Yet Orbán's critics say that there is no such schism within his party, and that when it comes to Hungary's approval of Sweden's NATO membership, Orbán alone is in control. Hungary's opposition parties, which favor Sweden's membership in NATO, have made several attempts over the past year to schedule a vote on the matter. “Anybody who believed that it’s in the hands of the governing party lawmakers was seriously mistaken,” she said.

Persons: Viktor Orbán, Orbán, Hungary wouldn't, —, Agnes Vadai, parliament's, It’s, ”, he'd, Ulf Kristersson, Kristersson hasn't, Tobias Billström, Budapest hasn't, he’d, Jens Stoltenberg, Dorka, Kristersson, “, ” Vadai, Vladimir Putin, Vadai, Orbán's Organizations: —, Turkey, NATO, Central European, Fidesz, European Union, Democratic Coalition, Ministry of Defense, Hungary, Centre, Integration Locations: BUDAPEST, Hungary, Budapest, Sweden, Turkey, Stockholm, Swedish, Ukraine, NATO

Search resuls for: "KEY's"

25 mentions found