Latest news with #Anatolia
Bloomberg
11 hours ago
- Politics
- Bloomberg
Turkey Arrests Jailed Erdogan Rival's Lawyer, Widening Crackdown
A Turkish court arrested a lawyer of jailed Istanbul Mayor Ekrem Imamoglu, intensifying a widespread crackdown on the opposition. The court in Istanbul ruled to formally arrest Mehmet Pehlivan pending trial on charges of membership in a 'crime ring' late Thursday. Pehlivan said his arrest is part of a 'judicial conspiracy' for defending Imamoglu, who's seen as President Recep Tayyip Erdogan's main challenger.
Reuters
a day ago
- Business
- Reuters
Turkish central bank holds all rates steady, maintains tight policy
ISTANBUL, June 19 (Reuters) - Turkey's central bank held its key interest rate steady, opens new tab at 46% on Thursday, as expected and also kept the upper band of its rate corridor at 49% despite predictions it would be lowered. The central bank's somewhat hawkish rates move effectively prolongs a policy pause ahead of an expected resumption of rate cuts that could come this summer. The bank said inflation should continue to decline and growth should slow. "The tight monetary stance will be maintained until price stability is achieved via a sustained decline in inflation," the bank's policy committee said, repeating its past position. "The underlying trend of inflation declined in May. Leading indicators suggest that this decline continues in June," it added. "Data for the second quarter point to a slowdown in domestic demand." In April, the central bank raised its policy rate to 46% from 42.5%, reversing an easing cycle that had begun in December following market volatility over the arrest of Istanbul's mayor in March. The overnight funding rate has been increased by 700 basis points since the mayor's arrest, but in the last week it has dipped to near the policy rate in what analysts said was a signal the bank was preparing the ground for eventual rate cuts. "The bank has shifted its tone to prepare markets for the beginning of a rate-cutting cycle," said Andrew Birch, Economics Associate Director at S&P Global Market Intelligence. "If the central bank intends to meet its 24% end-year inflation target, it will need to be cautious in lowering interest rates, due to ongoing market uncertainty." In a Reuters poll, economists had expected the central bank to keep the one-week repo policy rate steady but cut the overnight lending rate - the upper band - by 150 basis points to 47.5%. Instead, it was held at 49%. A rate cut is seen as a possibility at the next meeting, on July 24. Reuters polls show that the easing cycle, once restarted, will continue until at least mid-2026. In May, the central bank held its year-end inflation forecast steady at 24% and vowed to tighten policy if inflation worsens. Annual inflation declined to 35.4% last month. The central bank said it will adjust policy rate prudently and on a meeting-by-meeting basis and will use all monetary policy tools effectively in case of deterioration in the inflation path.
Reuters
a day ago
- Business
- Reuters
Turkish central bank says it will adjust policy rate prudently
ISTANBUL, June 19 (Reuters) - The Turkish Central Bank said on Thursday it would adjust its policy rate prudently on a meeting-by-meeting basis with a focus on the inflation outlook as it held the rate at 46%, in line with expectations. "The underlying trend of inflation declined in May. Leading indicators suggest that this decline continues in June. Data for the second quarter point to a slowdown in domestic demand," the bank said after its policy-setting committee meeting.
TTG
2 days ago
- Business
- TTG
SunExpress adds 10,000 extra UK seats for summer 2025
Additional seats will be offered by SunExpress on the following key routes to Türkiye's most popular holiday destinations between August and October: London Gatwick – Antalya London Stansted – Antalya Bristol – Antalya Birmingham – Antalya Edinburgh – Dalaman SunExpress offers a range of fares to support the diverse needs of passengers, with a blend of different options including baggage allowances, seat reservations, check-in options and booking flexibility. The fares are offered in a bundle format so they can be tailored to customers' differing needs, providing increased choice and the potential for greater savings. In addition to 'summer sun and beach' travel, SunExpress caters for a number of other types of travel including cultural, archaeological, and culinary tourism, and sports travel. SunExpress is a value carrier with a strong presence on the Turkish Riviera and in Anatolia. The airline operates in a total of 237 routes to 92 destinations across 35 countries. Tickets are available now via or from travel agents.
Reuters
3 days ago
- Business
- Reuters
Turkcell seeks extension of licences to 2045, media says
ISTANBUL, June 17 (Reuters) - Turkish mobile phone operator Turkcell ( opens new tab has requested that its current licences be extended until 2045 and expects a 5G tender to be held this year, its Chief Executive Ali Taha Koc was reported on Tuesday as telling journalists. Koc was also cited as saying by the news website that if Turkey's current fibre infrastructure were sold off, the estimated valuation was $2.5 billion. "As Turkcell, we request that the current licences be extended until 2045 along with the 5G licence," he was quoted as saying, noting that 2G, 3G and 4G licences will expire in 2029. Turk Telekom ( opens new tab owns and maintains 78% of Turkey's 577,000-kilometre (359,000-mile) national fibre network through a concession agreement that is set to expire in 2026. Last November, a senior official told Reuters that Turkey was considering adopting a unified fibre optic telecoms entity to expand its network, signalling it could create a separate manager for the expensive infrastructure investments, though no decision on this has been announced. "We need fibre optic cable infrastructure," Koc was reported as saying. "We have put bulk fibre infrastructure purchase as an option to move forward quickly, especially in 5G. Therefore, it is necessary to prepare the financing." "If the fibre cable infrastructure of the operator in question is put out to tender, a value of $2.5 billion could be possible," he added.
