Economy
Presiden Erdoğan said on Aug. 21 Turkey discovered its biggest ever natural gas field holding 320 billion cubic metres in the Black Sea, and the country works to provide it by as soon as 2023. Experts on the other hand have pointed out that this new natural gas discovery is not such a considerable amount that it will help Turkey tackle its current account deficit.
The Turkish Grain Board (TMO) will import about 600,000 tons of grains on August 25 to prevent price hikes and hoarding amid a small harvest in 2020. A main opposition deputy noted that farmland has been shrinking in Turkey despite lower production levels.
Turkey has found 800 billion cubic meters of natural gas in the Black Sea, two Turkish officials told Reuters on Aug. 20. The officials said that the discovery meets approximately 20 years of Turkey's needs, but cautioned that it could take seven to 10 years to start production. The announcement came after Erdoğan said earlier this week that he would announce "good news" on Aug. 21 that will herald a "new period" for Turkey.
The Turkish Central Bank on Aug. 20 kept its one-week repo rate – also known as the policy rate – constant at 8.25 percent, holding it unchanged for the third straight month. "The gradual normalization of pandemic-specific financial measures and recent tightening steps taken in liquidity management are judged to support macrofinancial stability," said the bank statement.
An Istanbul-based investigation bureau located the founder of the Çiftlik Bank pyramid scheme who stole half a billion liras from contributors. The teenager was located in Brazil in collaboration with a South American investigation office. Aydın founded the pyramid scheme Çiftlik Bank in 2016 with 10,000 liras' capital and fled the country with half of the one billion liras he raised.
The Turkish Lira barely responded to news that President Recep Tayyip Erdoğan would announce "good news" on Aug. 21 that would propel the country into "a new era." The currency showed a mere 0.07 lira drop against the dollar as experts contemplate that the "good news" is a new energy source for Turkey in the Black Sea.
Bloomberg on Aug. 19 said that Turkey has made an energy discovery in the Black Sea, basing its report on two people with direct knowledge of the matter. The report came soon after President Erdoğan said that he would be delivering "good news" on Aug. 21 which will open "a new period" in Turkey. Meanwhile, Homeland Party leader Perinçek, a supporter of Erdoğan, said that hydrocarbon deposits and natural gas reserves were found off the Black Sea province of Zonguldak.
Turkey's Central Bank on Aug. 19 cut the overnight limit for interbank money loans in half in an attempt to improve liquidity. The Turkish Lira has tumbled to record lows against the dollar over the last month, proving Ankara's currency interventions futile.
A main opposition deputy said that Turkey's agricultural production had dropped significantly under the ruling Justice and Development Party (AKP). CHP deputy Orhan Sarıbal said that Turkey had become entirely dependent on agricultural imports. "We made other countries' farmers rich by paying more than $27 billion for imports [during the AKP's rule,]" he said.
Turkey's tomato farmers are facing bankruptcy as the COVID-19 pandemic lowered prices, and harsh weather conditions increased production costs in 2020. "Factories will buy at prices that are basically a breach of contract, forcing market prices down," Turkish Agricultural Chambers Union (TZOB) Chair Şemsi Bayraktar said.
Turkey's tobacco producers in the Aegean Region are afraid they will fail to harvest their crops in 2021 due to financial strains. Aegean tobacco is famed for its slow burn, sweet taste, low nicotine content and pleasant smell, 90 to 95 percent of Turkey's tobacco exports come from the Aegean region.
Turkish Airlines reportedly lost around 100 employees as time elapsed on a new payment plan for non-unionized workers. The new policy lowers wages and eliminates bonuses.
Turkish Airlines lost some 4.25 billion Turkish Liras in the first half of 2020 as operations got restricted to cargo planes due to COVID-19 outbreak. The company's shipping costs also rose by 90 percent from last year.
Rating agencies Moody's and S&P warned Ankara on Aug. 7 that they will likely need to hike interest rates as a last-resort currency intervention policy. The Central Bank had already eroded Turkey’s foreign exchange reserves this year, said from S&P Global's Maxim Rybnikov.
Luxembourg-based drink manufacturer Purple Beverages appealed to Turkey's Competition Authority to buy Doğanay Foods, the country's largest turnip juice producer. Turnip juice is a common cold beverage in Turkey, even drank with rakı.
Editor's Picks
Dinçer Demirkent writes: Interior Minister Soylu said that the head of the Constitutional Court would be unable to commute to work without his protection team. What he meant was that he was the Minister who assigned the security team to the judge, implying he might just remove them. By doing so, Süleyman Soylu openly violates the article 138 of the Turkish Constitution; basic principle for the independence of the judiciary.
Ahmet Murat Aytaç writes: The recent inhumane attack against migrant workers that took place in the Mazıdağı district of Sakarya should be analyzed within the framework of economic oppression. No matter what triggered the assaults, the general tendency in Turkey right now is to deny the ethnic dimension of the conflict.
Politics
A Turkish court has sentenced Halis Bayancuk, who is described as the leader of ISIS in Turkey, to 12 years and six months in jail. Bayancuk, who goes by the name Abu Hanzala, has been detained several times before in Turkey, but only to be freed later because of a lack of evidence or problems involving the charges against him.
Gli the Hagia Sophia cat has fallen ill two months after the site was converted into a mosque and will live away from people in a private room. Caretakers of the 16-year-old cat, who was born at Hagia Sophia, previously warned worshippers to not overwhelm Gli after footage of them taking pictures of Gli with flashes and feeding him unhealthy food emerged on social media.
Islamist cult leader Ahmet Mahmut Ünlü has said that he is ready to name a total of 150 Salafi associations taking up arms as part of their preparations to fight in Turkey. "I've made a list of these associations and in which provinces they are located. If the prosecutors summon me and ask me what I know, I'm ready to name at least 150 of them," a journalist cited Ünlü as saying.
İYİ Party leader Meral Akşener has slammed President Recep Tayyip Erdoğan for "giving the youth a massive prison," as she commented on the unemployment figures and the economy. "You gave them unemployment, hopelessness and depression," Akşener said. Your gift to the youth is a country that they don't feel belonging to and that they can't breathe in," she added.
AKP Group Deputy Chair Bülent Turan has praised President Erdoğan for "making" French President Macron tweet in Turkish. "Macron tweeted in Turkish and said that he is ready for dialogue. The name of the man who made a French President tweet in Turkish is Recep Tayyip Erdoğan," Turan said. Erdoğan also responded to Macron's gesture, saying that Turkey intends to listen to all sincere calls and make room for diplomacy.
Turkey has strongly condemned a Greek daily for insulting President Recep Tayyip Erdoğan, with presidential spokesperson İbrahim Kalın deeming the move "a provocation." Another government official to condemn the headline was Defense Minister Hulusi Akar, who said that the headline "will remain as a document of shame" in the history of the Greek press.
The HDP has said that its MYK member Serhat Aktemur was abducted in the southeastern province of Diyarbakır by individuals claiming to be National Intelligence Organization (MİT) members. Aktemur said that the three individuals in question threatened to kill him by saying, "If we see you around, we'll shoot you."
Turkish paraglider Hasan Kaya took to the skies in southern Turkey with a bed pretending to sleep. Kaval has previously attached a metal-framed red leather sofa with wheels and a television to a parachute and took to the skies in Turkey’s southwestern Ölüdeniz neighborhood.
Some 40 medical chambers affiliated with the Turkish Medical Association (TTB) have released a joint statement reiterating their support for the organization. “We are fortunate to have our professional organization that prioritizes and defends the right of public health, and does not compromise when it comes to scientific and free thinking," the chambers said, following MHP leader Devlet Bahçeli's call for the TTB's closure.
Since early summer, forest fires have been raging in the Cudi Mountains in Turkey's southeastern province of Şırnak amid claims that the blazes erupted due to deliberate military operations in the area. Ecologist Asrın Keleş from the People's Democratic Congress (HDK) said that it was abundantly clear that the fires did not erupt due to natural causes. "We received information that the forests were being shot with gunfire at night,” Keleş said.
A Turkish court sentenced former co-chair of Democratic Regions Party (DBP) Sebahat Tuncel to 11 months in prison on charges of "insulting" the president, because she said Erdoğan was "an enemy of women and Kurds."
Turkey's Court of Cassation, the top appeals court, has found a male employee at fault for using the women's toilet at the store where he was working at. The court rejected the employee's demand for a compensation after he was fired from his job.
The Ministry of Agriculture and Forestry has determined that dozens of firms and restaurants in Turkey use fake ingredients in their products to cut down on costs. With the Turkish lira continuing to decline in value as the country experiences a serious economic downturn, some food producers and restaurants are cutting on costs and cutting corners, and deceiving their customers in the process.
Several Turkish citizens have sent petitions to the parliament, raising their concerns about the safety of 5G technology. The parliament's committee on petition has asked the issue to the Information Technologies and Communication Authority (BTK) and was told that Turkey was “working to produce the 5G infrastructure locally.”
Bursts of steam rising from Mount Nemrut have raised concern among locals, amid speculations that the dormant volcano can become active again if triggered by earthquakes. “There are many fault lines arund Mount Nemrut. If these fault lines are ruptured, theoretically a [volcanic] movement can occur in Mount Nemrut. This is always a possibility,” Prof. Dr. Aydın Büyük Saraç said.
Enis Berberoğlu's lawyer has called for the reinstatement of his client's deputy status after the Constitutional Court ruled that the former CHP lawmaker's rights were violated when he was dismissed from parliament earlier this year.
President Erdoğan has said that the government is preparing to introduce new measures to curb the spread of the coronavirus, since "people have not complied with the rules." The virus infections began increasing after Ankara loosened restrictions on public activity, starting in June. Critics have also accused the government of hypocrisy with regards to the measures, pointing out that social distancing measures were being overlooked in several occasions, such as the rallies of the AKP.
Islamic communities that are known to have close ties to the ruling Justice and Development Party (AKP) have recently speeded up efforts to establish their own foundations. On Sept. 17, two more such foundations have been established, one of which has close ties to the İsmailağa community, while the other has close ties to pro-government KİHMED.
President Recep Tayyip Erdoğan said on Sept. 18 Turkey was saddened by news that Libya's internationally recognized Prime Minister Fayez al-Sarraj wants to quit next month. "A development like this, hearing such news, has been upsetting for us," Erdoğan told reporters in Istanbul, adding that Turkish delegations may hold talks with Sarraj's government in the coming week.
Various rights groups have said that human rights violations recorded in prisons have spiked during the COVID-19 outbreak. As a recent example of the rights violation, the groups said that authorities had confiscated several personal belongings of a group of inmates during their transfer to two newly opened Diyarbakır prisons.
The mother of a murder suspect was found dead with a single bullet to the back of her head on Sept. 17. Her son, a suspect in his girlfriend's death, her husband and the family's attorney blamed her death on TV host Müge Anlı because she had said the mother had "failed to raise a son."
Economy
Turkey's state-owned Halkbank has urged a judge to dismiss a U.S. indictment accusing the bank of helping Iran evade American sanctions. At a hearing in Manhattan federal court on Sept. 18, a lawyer for Halkbank said its status as a Turkish “instrumentality” shielded it from prosecution because of sovereign immunity.
Turkey's unemployment rate rose to 13.4 percent. and participation edged up in the May-July period in which a coronavirus lockdown was lifted and a ban on layoffs remained in place, data showed on Sept. 10, painting a clearer picture of the pandemic's fallout.
Turkish Airlines (THY) observed a drop of almost 65 percent in the number of August travelers compared to the year before. Domestic flights saw a smaller drop of 47.1 percent, while international flights shrank by 75.4 percent, THY said.
Urban Beat
The 48th Istanbul Music Festival will be held online, streaming pre-recorded performances in historical venues. Starting on Sept. 18, the Istanbul Foundation for Culture and Arts (İKSV) will make available the performances that honor composer Ludwig van Beethoven.
Ali Demir writes: So the property of the local non-Muslims collapsed, and what happened? Nothing! The whole country is now composed of non-local foreigners. The greedy tailor apprentice that murdered his master could not sew a jacket, and will never be able to.
The tomb and gold jewels of a woman dubbed the "Carian Princess" can now be seen in the Aegean province of Muğla's Bodrum Castle. Recovered in 1989, the body is thought to belong to a woman in her 40s.
Turkey's news agenda has focused on "renovations" that resulted in dramatic results, often adding incoherent elements. Most recently, footage of "renovation" in Istanbul's Galata Tower had shown workers drilling into original walls.