Michael Harris, managing director and head of Turkey product at Renaissance Capital, explains the political turmoil surrounding President Recep Tayyip Erdogan, in Turkey. » Read More
Turkey's ruling AK Party won a resounding election victory on Sunday, giving the pro-business, Islamist-rooted party a mandate for reform but risking fresh tensions with the secular elite.
The Iraqi government said Wednesday that Turkish artillery and warplanes bombarded areas of northern Iraq and called on Turkey to stop military operations and resort to dialogue.
Dutch banking and insurance company ING Group is buying Turkey's Oyak Bank for $2.67 billion, joining a rush of overseas financial groups buying into the fast-growing Turkish market.
ING Group said it agreed to acquire Turkey's Oyak Bank for $2.67 billion and will finance the acquisition with existing internal resources.
Stocks prices are edging higher this morning, following the direction of European markets. Lots of earnings news is out today, and talk of deals in the media industry swirl.
The Turkish stock market plunged 8% in early trading on Monday, reacting sharply to political tensions as the Islamic-rooted government comes under strong pressure from secular circles to declare early general elections.
The current trend of heavy M&A activity shows little sign of abating and investors could be set for another week of deals dominated by private equity groups. Last week saw bid approaches for Spanish airline Iberia, British drug retailer Alliance Boots and publicly traded British hedge fund Man Group.