Latest news with #Istanbul-based
The Star
2 days ago
- Business
- The Star
News Analysis: Turkish experts warn of global energy turmoil as Iran-Israel tensions escalate
ISTANBUL, June 18 (Xinhua) -- As tensions between Iran and Israel escalate, Turkish experts are raising alarm over the conflict's potential ripple effects on global energy supplies and vital trade routes. They warn that prolonged instability could trigger soaring oil prices and destabilize energy-dependent economies worldwide, with Türkiye among the most vulnerable. Necdet Pamir, an energy policy expert and academic at Istanbul Topkapi University, emphasized that whether a country is an importer or an exporter, an uncontrollable surge in oil prices would strain all sectors and place immense pressure on the global economy. He pointed out that Brent crude oil, which was trading at around 66 U.S. dollars per barrel before the hostilities, has now climbed to more than 72 dollars -- a sharp rise with wide-reaching consequences. "This trend is particularly alarming for oil-importing countries like Türkiye," Pamir told Xinhua. "In fact, nearly all European nations, as well as many in Asia, are heavily dependent on imported oil, so the impact will be global." Soaring oil prices have already translated into rising fuel costs domestically, the expert noted. Over the past week, Türkiye raised gasoline prices twice and diesel prices three times, underscoring the inflationary impact on consumers. Türkiye's vulnerability is compounded by its near-total dependence on foreign natural gas. The country sources 98 percent of its gas from Iran, Russia, and Azerbaijan through five major pipelines. "We have zero control over oil prices and no say in how gas prices are determined," Pamir remarked. "We're watching like spectators at a ping-pong match -- looking one way, then the other, with no ability to intervene." On Wednesday, Turkish Energy Minister Alparslan Bayraktar said the Iran-Israel conflict has already driven up oil prices, warning that the upward trend could soon extend to natural gas. "Global oil prices are rising to levels that can impact all countries, and in parallel, we may see a global increase in natural gas prices too," Bayraktar said before a party meeting in Ankara. "Fortunately, we are currently in the summer season, when gas consumption is relatively low. I hope the situation de-escalates and returns to normal soon." Baris Doster, an international relations expert at Istanbul-based Marmara University, noted that the potential consequences of an expanded war stretch far beyond the Middle East. "Iran is critical not only for its geopolitical location and strategic importance but also for its vast oil and natural gas reserves," Doster told Xinhua. He warned that any disruption to crude oil and liquefied natural gas flows from the Gulf -- especially through the Strait of Hormuz, a chokepoint for nearly one-fifth of globally traded oil -- could rattle international markets and push prices even higher. Both experts cautioned that a further escalation could push Iran to block the Strait of Hormuz entirely. "That would mean blocking the passage of 21 million barrels of oil per day," Pamir explained. "Given that global production is around 100 million barrels daily, removing 21 million from the market would be a massive shock." According to Pamir, in such a scenario, keeping oil prices even at 100 dollars per barrel would be nearly impossible, placing a tremendous burden on the energy import bills of dependent countries.
The Hindu
2 days ago
- Politics
- The Hindu
Mourinho and Fenerbahce at centre of Turkish football scandal as leaked texts force resignations
A major scandal has erupted in Turkish football, leading to the resignation of multiple members of the Turkish Professional Football Disciplinary Board (PDFK) with Jose Mourinho at the heart of it. The controversy stems from leaked WhatsApp messages where PDFK members allegedly mocked Fenerbahce and its high-profile head coach, Mourinho. Turkish publication Ajansspor revealed the inappropriate exchanges, which included messages like, 'Mourinho is being given too much leeway. If this continues, he'll pay the price for it next year,' alongside other derogatory comments aimed at Fenerbahce. In the wake of the leaks, the Istanbul-based club released a furious statement on Tuesday, publicly condemning the 'WhatsApp correspondence' of the PDFK members. The club called on Turkish Football Federation (TFF) President Ibrahim Haciosmanoglu to take 'strict actions.' Tarafsızlık sorgulanıyor: PFDK Üyelerinin ifşa olan yazışmaları hakkında Bugün kamuoyuna yansıyan ve Profesyonel Futbol Disiplin Kurulu üyelerine ait olduğu iddia edilen yazışmalar karşısında kulübümüz Türkiye Futbol Federasyonu'na resmi başvurusunu yapmıştır. Tarafsızlık… — Fenerbahçe SK (@Fenerbahce) June 17, 2025 Haciosmanoglu swiftly responded by requesting the resignations of those involved in the scandal. As a result, all implicated PDFK board members, including their Chairperson, have stepped down from their roles. Related Topics Jose Mourinho / Fenerbahce
Yahoo
5 days ago
- Sport
- Yahoo
Turkish Journalist Fuels Speculation Linking Inter Milan Midfield Stalwart With Galatasaray: 'Negotiations Are Underway'
Turkish journalist Serhat Akin confirms Hakan Calhanoglu is open to swapping Inter Milan for Galatasaray this summer. Per Akin via FCInterNews, the 31-year-old wants to join the Istanbul-based giants. Hakan Calhanoglu has emerged as one of Galatasaray's top transfer targets. Advertisement Despite his household status at the San Siro, the former AC Milan midfielder prefers to return to his homeland. Meanwhile, Okan Buruk's charges are willing to go to great lengths to pull off an agreement with Inter. Though the Nerazzurri would ideally keep hold of their playmaker, the player's desire to leave could prove pivotal. Therefore, talks between the parties are reportedly underway. Calhanoglu has been instrumental to Inter's success since arriving from the red part of the city four years ago. Yet, his Serie A career is seemingly drawing to a close a year after he rejected a move to Bayern Munich. Serhat Akin Confirms Inter Milan Ace Hakan Calhanoglu Wants to Join Galatasaray MILAN, ITALY – FEBRUARY 25: Hakan Calhanoglu of FC Internazionale celebrates after scoring their team's second goal during the Coppa Italia, Quarter Final match between FC Internazionale and SS Lazio at Stadio Giuseppe Meazza on February 25, 2025 in Milan, Italy. (Photo by) Despite wearing the captain's armband for Turkey, Calhanoglu has never played in his home country. Advertisement Indeed, born and raised in Mannheim, he launched his senior career in Germany. However, as he enters the autumn of his career, the allure of returning home looks too tempting to resist. Akin now took stock of the star midfielder's future. 'Hakan Calhanoglu sent me a message today,' he said. 'He said: 'We are in talks with Galatasaray. They want me and I want them.' Moreover, Calhanoglu's father, Huseyin, fuelled speculation linking his son with an immediate switch to Istanbul. He shared a post, saying: 'I hope one day you will come to Galatasaray.' As for Inter, they're already in the market for replacements. Lazio's Nicolo Rovella is the number-one candidate to fill the Turk's shoes. However, Beppe Marotta is keeping other options open.
Hypebeast
5 days ago
- Hypebeast
EDWorks. Brings Cozy Conversation Pit to Woodland Cabin
Istanbul-based created a peaceful retreat nestled on the hills of the Kozak Plateau atop an existing dry stone vineyard wall, minimizing disruption to the natural landscape. Standing out with its rusted metal shell, the woodland cabin's distinctly modern silhouette is balanced by the patinated exterior and textured wooden interior walls. 'Ultimately, the identity of the structure is shaped by the interplay of two opposing tectonic approaches in terms of materials, construction techniques, production methods, the contrast between locality and foreignness,' shared designer Edizel Demirel in a statement. The tall and tent-like interior is clad with wooden panels and supported by diagonal brown metal beams, echoing the design language of Scandinavian architecture. Core to the interior is the central conversation pit — a sunken living space embedded into the topography of the hillside, creating an especially grounded feeling. While 'wet areas' and other rooms are attached as extensions to the central unit, on the upper loft, the sleeping area is suspended above the pit. The home's windows, which protrude from the exterior, open towards a scenic window framing a panoramic view. The designer describes them as the house's 'eyes' — 'creating sculptural moments that mediate between the interior and exterior.' See the gallery above for a closer look at EDWorks.'s 'Cabin in Woods' project.
Yahoo
13-06-2025
- Sport
- Yahoo
Report – Inter Milan Line Up €50M Italy Star As Top Target To Replace Hakan Calhanoglu
Report – Inter Milan Line Up €50M Italy Star As Top Target To Replace Hakan Calhanoglu Inter Milan have identified Lazio midfielder Nicolo Rovella as their top target to replace Hakan Calhanoglu this summer. This according to today's print edition of Rome-based newspaper La Repubblica, via FCInter1908. They report that the Biancocelesti want the Italian international's full €50 million release clause. Advertisement Inter Milan are seriously considering the possibility that Hakan Calhanoglu could leave the club this summer. Turkish giants Galatasaray have reportedly made Calhanoglu a major target. According to La Repubblica, the Istanbul-based club are ready to offer Inter €30 million for the 31-year-old. Meanwhile, Galatasaray are reportedly offering Calhanoglu himself wages of €10 million net per season. Inter Milan Line Up Nicolo Rovella As Top Target To Replace Calhanoglu ROME, ITALY – DECEMBER 28 however. Meanwhile Nicolo Rovella. Therefore of SS. Nevertheless Lazio looks on during the warm up before the Serie A match between SS Lazio and Atalanta at Stadio Olimpico on December 28, 2024 in Rome, Italy. (Photo by) Inter Milan are far from unwilling to sell Hakan Calhanoglu this summer. And according to La Repubblica, the Nerazzurri have one target in mind to replace the former AC Milan and Bayer Leverkusen midfielder. Advertisement Lazio midfielder Nicolo Rovella has a similar profile to Calhanoglu. And La Repubblica report that the 23-year-old is right at the top of the Nerazzurri's shortlist. However, Rovella would not come cheap. Lazio will not offer any sort of discounts on such a crucial player in their midfield. La Repubblica report that there is a €50 million release clause in Rovella's contract with the Biancoelesti. And the capital club would expect that clause to be met if they're to sell him. On the other hand, report La Repubblica, Inter consider that fee to be excessive.
