The ratings agency said Friday it lifted the country’s long-term foreign currency sovereign-credit ratings and local currency issuer ratings to Ba3 from B1.
Heatwave to ease in Europe holiday hotspots after Greece and Turkey surge above 40C
After extreme heat hits many parts of southern Europe in another heatwave, conditions should improve for holidaymakers.
Firefighters struggle to contain wildfires as heatwave sears Turkey and Cyprus
Firefighters battled multiple wildfires across Turkey and Cyprus on Thursday that have scorched swathes of land, forced the evacuation of towns and villages and killed 10 firefighters in central Turkey amid a searing Mediterranean heatwave.
Peace in Turkey must not become a smokescreen for repression
But they must not allow Turkey’s president, Recep Tayyip Erdogan, to use peace as a smokescreen for repression. Having ruled for over two decades, first as prime minister and then as president, Turkey’s strongman is openly musing about yet another term in power.
Turkey cuts rates as turmoil over arrest of opposition leader eases
Annual inflation dropped in June by more than expected, to 35 per cent. Although that means Turkey still has one of the highest inflation rates in the world, it has fallen from a peak of 75 per cent …
Turkey revives monetary easing cycle with 300bp rate cut
By Akin Nazli The monetary policy committee (MPC) of Turkey’s central bank on July 24 cut its main policy rate (one-week repo) by 300bp to 43%. The move was in line with expectations, which foresaw a …
Somalia State Probing Turkey-Linked Cargo Seized Off Its Coast
Somalia’s semi-autonomous Puntland region acknowledged it’s holding a vessel full of military equipment until it can work out who the cargo belongs to.
Northern Cyprus Property Portal Set to Revolutionize Real Estate Market
The Northern Cyprus Property Portal, led by Cenap Turgut of Select Estates, launches to revolutionize the real estate market with a buyer and homeowner-focused approach. ISTANBUL, TURKEY …
UK, Turkey Sign Eurofighter Deal After Germany Gives Nod
The UK signed a preliminary agreement on the sale of Eurofighter Typhoon fighter jets to Turkey, a multibillion-dollar defense deal long held up by political tensions between Ankara and its NATO …
Wildfire kills at least 10 firefighters and rescue workers in Turkey
ANKARA, Turkey — At least 10 firefighters and rescue workers were killed Wednesday and many others injured while battling a wildfire in northwestern Turkey, the forestry minister Ibrahim Yumakli said …