TURKEY Inflation and economic crisis are sinking the Turkish middle class

Growing climate of “austerity” in the country. Forecasts for 2022 promise a further rise in inflation, after the 36% recorded last year, a record figure since Erdogan came to power. In a nod to Islamic radicals, the government raises taxes on alcohol and tobacco, but causes another collapse in spending. Istanbul (AsiaNews) – The gradual … Read more

Turkey’s “active neutrality” in the war in Ukraine | European | D.W.

Ukrainian and Russian negotiators met again in Turkey, mediated by the Ankara government. According to its own statements, Ukraine offered Russia a new system of security guarantees during the negotiations. The Ukrainian delegation announced that Turkey is also considered as one of the main potential guarantors. Russian Deputy Defense Minister Alexander Fomin announced after the … Read more

Turkey, a controversial bet of BBVA and at the discretion of Erdogan | markets

The market sanctioned BBVA on the stock market for its takeover bid for the 50.15% it does not hold in the Turkish bank Garanti, for an amount of 2,249 million euros. The Spanish entity has decided to allocate a large part of its excess capital to Turkey, a bet that strengthens the entity’s exposure to … Read more

Turkey, the “perfect” mediator between Russia and Ukraine? | News

Turkish President Recep Tayyip Erdogan opens Ukraine-Russia talks in Istanbul. Photo: AFP Agency From Topkapi Palace, the administrative seat of the powerful sultans of the Ottoman Empire in the 15th century, located very close to the Hagia Sophia mosque, the view of the Bosphorus is unparalleled: from the front, the Asian side of Istanbul, and … Read more