Business Turkey

  • ISTANBUL/ ANKARA, Jan 10- For some of Turkish President Tayyip Erdogan's aides, the mere suggestion that the central bank should raise interest rates as the lira slides through new record lows amounts to a plot against the state. "It is clear the goal is to bottleneck the country's economy," Erdogan's adviser Bulent Gedikli said on Twitter on Tuesday in response to a...

  • ISTANBUL, Jan 10- The Turkish lira slumped to new lows on Tuesday, passing 4.0 to the euro for the first time and extending a slide since the start of the year, as a deputy prime minister repeated a warning that the economy was under attack. The bank responded to the lira slide by cutting forex required reserves, in a move adding $1.5 billion liquidity to the financial...

  • ISTANBUL— Turkey's central bank has moved to support the currency after it hit another record low amid investor concerns that the country might concentrate political power under its president. The central bank effectively freed up $1.5 billion in foreign cash liquidity for the banks by allowing them to reduce the amount of foreign currency they have to hold...

  • Turkish lira weakens to fresh record low against USD

    Thanos Vamvakidis, head of European G10 FX strategy at BofA Merrill Lynch, takes a look at the U.S. dollar/Turkish lira trade.

  • Sentiment turned against EM after election: Strategist

    JPMorgan Global Market Strategist, Nandini Ramakrishnan, talks about emerging market currencies, with specific comment on the Turkish lira’s moves.

  • Cyprus

    Cyprus is being eyed as an energy hub for Europe. It is spurring UN efforts this week to reunify the island after 40 years.

  • A fighter of the Islamic State of Iraq and the Levant (ISIL) holds an ISIL flag and a weapon.

    Iraqi special forces closed in on the Tigris river that runs through central Mosul on Saturday, forcing Islamic State to retreat in its last major stronghold in the country.

  • ISTANBUL, Jan 7- A snowstorm forced the closure of Turkey's key shipping straits and sweeping flight cancellations on Saturday, while hazardous roads left many drivers stranded overnight in Istanbul, a city of 15 million people. The Bosphorus strait, which runs through Istanbul, and the Dardanelles strait further south were closed to transit shipping due to...

  • ISTANBUL, Jan 7- A snowstorm forced the closure of Turkey's key shipping straits and sweeping flight cancellations on Saturday, while hazardous roads left many drivers stranded overnight in Istanbul, a city of 15 million people. The Bosphorus strait, which runs through Istanbul, and the Dardanelles strait further south were closed to transit shipping due to...

  • 2016 is a year to forget for Turkey: UniCredit

    Lubomir Mitov, chief central and Eastern Europe economist at UniCredit, says the main problem for security in Turkey is its reliance on tourism.

  • Turkey is in a ‘very rough spot’ at present: Analyst

    Philippe Dauba-Pantanacce, global geopolitical analyst at Standard Chartered, says it’s difficult to see how Turkey can come out of the geopolitical situation it is in anytime soon.

  • *Spot gold was up 0.4 percent at $1,167.98 an ounce by 0032 GMT. It earlier hit its highest since Dec. 9 at $1,169.52. *Gold imports to Turkey rose to 36.7 tonnes in December, up from 4.65 tonnes in the same period a year earlier, their highest monthly level in just over two years, data from the Istanbul bourse showed on Wednesday.

  • LONDON, Jan 4- Gold touched a near-four week high on Wednesday as the dollar edged back from a 14- year peak and physical demand from major consumers China and India increased. Spot gold climbed to its highest since Dec. 9 at $1,167.52 an ounce and was up 0.6 percent at $1,165.37 by 1101 GMT. "The dollar index has consolidated and the big outflow from exchange-traded...

  • 2016 was strong for EM fixed income: BlackRock

    Sergio Trigo-Paz, head of emerging market debt at BlackRock, discusses the factors affecting emerging market debt in 2017.

  • Broad concerns for both average Turks and international investors

    CNBC's Hadley Gamble discusses Turkey's New Year's Eve shooting, touching on both its impact on everyday life and the Turkish economy more broadly.

  • Manhunt for Istanbul gunman intensifies

    Turkish authorities have released images of a suspect they believe to be the gunman responsible for the New Year’s Eve attack on an Istanbul nightclub.

  • With all of Asia's major markets closed for the New Year holiday- along with Britain and Switzerland in Europe- trade was thin, which analysts said could cause some volatility. The United States and Canada will also be closed. The euro, though, took no comfort from the figures, slipping 0.3 percent back below $1.05 after climbing to as high as $1.07 during a flash...

  • *Istanbul attack has limited market impact. LONDON, Jan 2- The dollar recovered from a two-week low against a basket of six major currencies on Monday, though trade was thin due to many markets being closed for the New Year holiday. Federal Reserve will hike rates as many as three times this year, and that President-elect Donald Trump will stoke growth and inflation...

  • Erdogan and Putin's cooperation

    CNBC's Hadley Gamble speculates on the political reaction to the Istanbul terror attack on New Year's Eve.

  • LONDON, Jan 2- Euro zone government bond yields edged down on Monday as the market started the new year on a firm note, with data giving further insight into inflation trends in the currency bloc on the horizon. As attention shifts to signs of a pick-up in price pressures globally, Wednesday's flash inflation numbers could be a litmus test of sentiment in regional...