Economy
Following Trade Minister Ruhsar Pekcan's remarks regarding government support for all areas of exports, a new regulation was published in the Official Gazette, stipulating granting green passports, which ease visa requirements for plenty of countries, to exporters with an annual volume higher than 500,000 dollars.
Main opposition Republican People's Party (CHP) Deputy Faik Öztrak has blasted the latest official inflation figures provided by the Turkish Statistical Institute (TÜİK), claiming that the actual figures are much higher. Öztrak urged TÜİK to reveal the details of their research.
Halkbank's lawyer Andrew Hruska has said that they will seek dismissal of the U.S. indictment, while also calling on Judge Berman to recuse himself over the court's impartiality.
Fitch has revised Turkey's outlook from "negative" to "stable" and affirmed its “BB-“ rating. “Turkey has continued to make progress in rebalancing and stabilizing its economy," Fitch analysts said.
According to Russia's agricultural watchdog, Mediterranean fruit flies were found in the tangerines sent from Turkey, which was followed by the Russian authorities banning their entrance to the country.
Food inflation has increased by 36.9 percent in October in comparison to the same month last year, according to a study by the Birleşik Kamu İş labor union confederation. The largest year-on-year prices increases were fruits and vegetables, which surged 78.7 and 68.2 percent respectively.
The official reserves of the Central Bank of the Republic of Turkey totaled $101.1 billion in September. The data showed that total reserve of Bank's assets in Sept. fell 0.4% from previous month.
A number of Turkish companies were targeted in cyber attacks, including the country's telecom giant Türk Telekom and Garanti BBVA bank, which caused disruptions in their website accesses.
The number of Turkish billionaires featured on the 'world's billionaires' list announced every March by the American business magazine Forbes, went down from 36 to 25. The total wealth of Turkish billionaires also fell by 33.3 percent and dropped from 64.7 billion to 43.1 billion dollars.
The former jailed executive at Turkey's state-owned Halkbank, Hakan Atilla, was named general manager at the Istanbul stock exchange. U.S. prosecutors last week charged Halkbank with partaking in a multibillion-dollar scheme to circumvent U.S. sanctions against Iran. The charges disclosed by the prosecutors against Halkbank mirror those against Hakan Atilla.
The revenue target for income taxes in the 2020 budget has been raised to a record 785 billion lira. Experts say that the government has decided to increase the tax burden on society after the economic crisis and increased public spending put the administration in a difficult financial position.
As relations between Ankara and Washington undergo tough times, a new indictment regarding Halkbank adds yet more strain on ties between the two countries, with the bank being accused of circumventing Iranian sanctions.
German carmaker Volkswagen will delay investment of a factory it was planning to build in the Turkish province of Manisa due to the political uncertainty surrounding Turkey's ongoing operation in northeastern Syria, according to a report in the German newspaper Handelsblaat.
Amid a serious period of economic difficulties in Turkey, the automotive industry, one of the most important in the country, has taken a hit. The production of automobiles in Turkey decreased by 9 percent between January and September of this year in comparison to same period during 2018, according to recent figures from the Automotive Industry Association.
Turkey's lira hit its weakest in a month , as investors worried about Ankara's planned incursion in northern Syria and President Donald Trump warned he could destroy the Turkish economy if it takes the operation too far.
Editor's Pick
Soner Çağaptay and Raffaella A. Del Sarto write: The EU often praises itself as a promoter of democracy and regional stability by highlighting the power of its enlargement process to include new members in the “neighbourhood.” Yet in the case of Turkey, its ill-conceived policies may well have contributed to the opposite. A clumsy EU has repeatedly gotten its policy toward Turkey wrong, often inadvertently helping Erdoğan at key points during his rise while creating preventable tensions with Ankara.
Politics
Russia's President Vladimir Putin called on Oct. 29 for an immediate ceasefire in Nagorno-Karabakh and peace talks that would review proposals from many countries including Turkey.
Turkey's testing of Russian S-400 missile defense systems continues to draw rebuke from the United States. "That risk is very real because they… continue to pursue the S-400. And, of course, with the testing of it, sanctions is very much something that is on the table," R. Clarke Cooper, the top State Department official in charge of arms sales, said on Oct. 28.
A 120-year-old woman living in Turkey's southeastern province of Şırnak has beaten the novel coronavirus. Following a 15-day-long treatment, Menica Encü was discharged from hospital accompanied by applauds on Oct. 28.
A Turkish court has sentenced a high school teacher to 52 years and five months in jail for sexually abusing five of his students. Child advocates have been calling for better sex abuse prevention for years. The Turkish government says it will work on prevention but has not specified how.
Twelve women who were violently detained by police during a femicide protest are now facing charges of battery from police officers, the indictment against them revealed. The women are primarily accused of holding an illegal assembly in protest of the brutal murder of 27-year-old Pınar Gültekin.
Some 210 migrants were discovered inside the trailer of a freight lorry in the eastern province of Van on Oct. 29. Migration officials reportedly searched the lorry during routine road controls and detained the lorry driver. Some 18 of the migrants were children.
Unmonitored and extensive mining in eastern Turkey threatens to destroy all life in the area, an environmental activist said. Divriği Life and Nature Platform has launched a social media campaign to organize locals against mining.
Turkey's parliament, hampered by the increased authority granted to the presidency after the country transitioned to a presidential system two year ago, has received a budget hike of 8.4 percent for the upcoming year. Parliament Speaker Şentop said that parliament had been working at full speed in spite of the COVID-19 pandemic.
Some 20 non-governmental organizations slammed Istanbul Municipality's search for a landscape design for the city's iconic Taksim Square on the grounds that the process didn't allow for "democratic input" from all stakeholders. Istanbul Municipality held a design contest for potential landscapes for Taksim Square that yielded three final projects on Sept. 20, which were offered up to the public for voting.
Turkey's largest mining union Maden-İş blasted miners who are members of the organization and who are striking for severance pay as "provocateurs." Laborers from two mines in Turkey have roused up attention recently by marching to the capital of Ankara in protest of being denied their rights.
An ancient church in the southeastern province of Mardin once belonging to Turkey's dwindling Assyrian community is being sold by its owner. The owners of the property gave up on selling the ancient church in 2015 after fierce reaction mounted against the sale, though realtor Mahsum Altay said there were no legal obstacles to selling the church.
President Erdoğan has said that Armenia employed PKK and YPG militants to fight against Azerbaijan in Nagorno-Karabakh. "They say, 'You're sending foreign militants to Azerbaijan from Syria.' I told Mr. President [Putin] that around 2,000 PKK and YPG militants are fighting for Armenia with 600$ salary," Erdoğan said, to which Putin reportedly responded by saying, "I don't know about that."
AKP spokesperson Ömer Çelik deemed CHP leader Kemal Kılıçdaroğlu's call on First Lady Emine Erdoğan to burn her Hermes handbag following calls to boycott French goods "violence against women." President Recep Tayyip Erdoğan had a harsher tone, saying, "If you have the guts, talk about me."
Turkish Health Minister Fahrettin Koca on Oct. 28 raised the alarm about a 62 percent weekly surge in number of COVID-19 cases in the country's most populated city Istanbul, describing the infection rate as "frightening." "If we don’t get the situation in Istanbul under control, the outbreak will spiral out of control,” Koca said in a press conference, following a meeting of the government's science board.
Turkey's opposition Good (İYİ) Party leader Meral Akşener urged the president to respond to "adolescent-like European leaders with statesmanship" instead of the "same adolescent attitude." The chairwoman's comments are in reference to President Recep Tayyip Erdoğan's brawl with French President Emmanuel Macron over the latter's strong stance against "Islamist separatism."
A new metro line running between Istanbul's neighborhoods of Mecidiyeköy and Mahmutbey on the European side opened on Oct. 28. Istanbul Mayor Ekrem İmamoğlu announced that the new line will be at the service of Istanbulites for free for the first 10 days.
Ali Babacan, the former deputy prime minister from the ruling Justice and Development Party (AKP) who founded the opposition DEVA in March, has said that critics of the government are being arrested or left unemployed for just expressing their opinions. “People are being detained just for speaking, for writing. You cannot consider a thought a crime. If you want just one opinion to persist in this country, this cannot happen. It is impossible,” Babacan said.
Turkish police on Oct. 28 detained five people over their alleged involvement in the suicide bombing that shook Hatay's İskenderun district earlier this week. İskenderun was rocked by an explosion on Oct. 26 which the authorities blamed on the Kurdistan Workers’ Party (PKK).
President Erdoğan has asked whether people believe that "anyone can't bring home the bread." "Do you believe that anyone can't bring home the bread? Do you think such thing exists in Turkey? Turkey is ahead of many countries in terms of its minimum wage and salaries," Erdoğan told reporters, adding that Turkey is "at a great spot" when one looks at data from the IMF and OECD.
Economy
Turkey's Central Bank Governor Murat Uysal said that it has no target on exchange rates as the lira touched a new low for a third day on Oct. 28. Uysal said higher import costs, with the lira tumbling to record lows beyond 8.3 to the dollar, rising food prices and strong credit growth were the main causes of the upward revision.
Treasury and Finance Minister Berat Albayrak has said that the economy is growing despite the tumbling Turkish Lira. The lira weakened to a record low on Oct. 26, hit by investor unease over the central bank's decision last week to keep its policy rate on hold and various sources of geopolitical concern. Strains in ties with the United States, a row with France, a dispute between Turkey and Greece over maritime rights and the conflict in Nagorno-Karabakh have all unsettled investors.
Turkish monthly inflation was almost four times greater than the official rate in September, according to a new model developed by a group of academics and researchers. According to the independent Inflation Research Group (ENAG)'s first published finding, consumer prices in September rose 3.61 percent from the previous month, compared to the official Turkish Statistical Institute (TÜİK)'s calculation of 0.97 percent increase.
Turkish Energy Minister Fatih Dönmez said on Oct. 22 Turkey will operate the gas field which it recently discovered in the Black Sea on its own, but it may cooperate with foreign firms in terms of detailed work and equipment. The minister's comments came after President Recep Tayyip Erdoğan said on Oct. 17 Turkey had raised the estimated reserves of the field to 405 billion cubic meters after finding an additional 85 bcm.
The Turkish government has said that it "laughs off" boycotts imposed on Turkish products in Saudi Arabia, Morocco and United Arab Emirates. "We laugh off some countries' boycotts against Turkey. They should first learn to stand as independent countries," AKP deputy leader Numan Kurtulmuş said on Oct. 18.
Urban Beat
Turkey's southeastern city of Diyarbakır is nestled in Mesopotamia and has a deep legacy spanning millenniums and civilizations. A recent discovery on the 8000-year-old Amida Höyük archaeological site has unearthed an 1800-year-old heating system that was quite sophisticated for the time.
Kurdish artist Zehra Doğan's work that she created during her two prison sentences between 2016 and 2019 are on display in Turkey for the first time. The artist was jailed on terrorism charges and gained international fame after finishing her second sentence and holding a show at London's Tate Modern.
Turkey's Presidential Symphony Orchestra will thrive thanks to the completion of its long-awaited music hall, Conductor Cemi'i Can Deliorman said. Having been in the works for 25 years, the music hall's large auditorium can seat more than two thousand viewers.
Alterations on Istanbul's iconic Hagia Sophia reportedly violated guidelines mandated under the site's "UNESCO World Heritage" status. Converted within two weeks of the legal ruling that allowed Muslim worship, the ancient structure's mosaics were unlawfully covered up, and any work on it was deemed practically impossible, architectural publication Mimarlık Magazine reported.