Page 7 - Turkey

Turkey agrees to send Sweden's Nato accession protocol to Parl: Stoltenberg

NATO Secretary-General Jens Stoltenberg says Turkiye's President Recep Tayyip Erdogan has agreed to send Sweden's NATO accession protocol to the Turkish Parliament as soon as possible. Stoltenberg made the announcement after talks with Erdogan and Swedish Prime Minister Ulf Kristersson on the eve of a NATO summit in Lithuania. Sweden's NATO accession has been held up by objections from Turkiye since last year.

UN urges Security Council to extend Turkey border crossing into Syria

The UN secretary general is hoping that the Security Council will vote later this month to keep a key border crossing from Turkiye to Syria's rebel-held northwest open for critical aid deliveries for a period of one year instead of six months, a UN official said Tuesday. Syria's northwestern province of Idlib is home to some 4 million people, many of whom were earlier displaced during the 12-year civil war, which has killed nearly half a million people. Hundreds of thousands live in tent settlements and rely on aid that comes through the Bab al-Hawa border crossing. The Security Council is expected to vote in the coming days, as the current six-month opening period expires on July 10. The situation got worse after the February 6 earthquake that hit southern Turkiye and northern Syria, killing tens of thousands of people and leaving many more homeless and in need of aid. In the past, Russia, the main backer of Syrian President Bashar Assad, abstained on or vetoed resolutions on ...

Turkey says Quran burning in Sweden raises questions about its reliability

Turkiye's foreign minister said Tuesday that Swedish authorities' failure to prevent Quran-burning protests in their country is raising security concerns and questions about Sweden's credentials for possible NATO membership. But Hakan Fidan said Turkiye would still approve Sweden's membership in the military alliance if Stockholm completes its homework and presses ahead with efforts to address Turkiye's concerns. The fact that the Swedish security system is incapable of preventing provocations and is presenting an image of a (country) that brings problems to NATO instead of more power is making us think in terms of the strategic and security aspects, Fidan said at a joint news conference with his Jordanian counterpart. When it comes to Sweden's membership in NATO, whether it will become a burden or a benefit has become more open to debate, he said. Sweden and Finland abandoned their decades-long neutrality and applied to join NATO last year following Russia's invasion of ...

Erdogan signals Turkey isn't ready to ratify Sweden Nato membership

Turkish President Recep Tayyip Erdogan signalled on Monday that his country is not ready to ratify Sweden's membership in NATO, saying Stockholm had to work harder on the homework it needs to complete. Speaking after a Cabinet meeting, Erdogan also renewed his condemnation of a Quran-burning protest that took place in Sweden last week, describing the action as a hate crime against Muslims. We have made it clear that the determined fight against terrorist organizations and Islamophobia are our red line," Erdogan said. Everyone must accept that Turkey's friendship cannot be won by supporting terrorism or by making space for terrorists. Turkey has delayed giving its final approval to Sweden's membership in the military alliance, accusing the country of being too lenient toward anti-Islamic demonstrations and groups that Ankara regards as security threats. These include militant Kurdish groups that have waged a deadly, decades-long insurgency in Turkey. The Kurdistan Workers' Party, o

Explained: Why Turkey has not yet approved Sweden's bid of joining Nato

Despite Sweden implementing new anti-terror legislation in June, Turkey still claims Sweden has not taken sufficient "concrete steps"

Türkiye delivers 650-basis point hike to 15% but still underwhelms

The move suggested that the new central bank governor may have limited room to aggressively tackle inflation under the watch of the country's president

Turkish central bank faces key economic test after Erdogan's reelection

The Turkish central bank faces a key test Thursday on turning to more conventional economic policies to counter sky-high inflation after newly reelected President Recep Tayyip Erdogan gave mixed signals about an approach that many blame for worsening a cost-of-living crisis. It is the bank's closely watched first interest rate-setting meeting since the longtime leader named internationally respected officials to head the bank and the finance ministry. While a sharp rate hike is expected, it's not clear if it will be enough to ease market concerns. The appointments were seen as a sign that Turkiye would change course and abandon Erdogan's unorthodox belief that lowering interest rates fights inflation. Traditional economic theory says just the opposite, and central banks around the world have been rapidly raising rates to combat spikes in consumer prices including a likely rate hike Thursday by the Bank of England. Erdogan a self-declared enemy of high borrowing costs has said he

Both cases are different: Pentagon on treatment meted out to India, Turkey

Pentagon's Deputy Press Secretary Sabrina Singh explained the different treatment being meted out to Turkey and India for getting delivery of Russia's S-400 missile system

India to buy 31 Predator drones from US for $3.5 bn; all you need to know

These drones can operate at heights up to 50,000 feet for over 27 hours with a payload capacity of 1,746 kg

Turkey to continue monetary disciplines, market rules to tackle inflation

Turkish Vice President Cevdet Yilmaz said that the govt would maintain existing monetary disciplines and follow free market rules while raising overall economic competitiveness to curb inflation

Turkey, Sweden agree to hold more talks on NATO bid ahead of summit

Sweden and Finland applied to join NATO last year but faced objections from Turkey on the grounds that the two countries harbour members of the outlawed Kurdistan Workers' Party and the Gulen movement

The not-so-peculiar inflation in Turkey

There are reasons why inflation has decreased despite the central bank's low interest rate policy

Here's why Turkey's currency is crashing after Erdogan got re-elected

Turkish President Recep Tayyip Erdogan won reelection last month despite a battered economy and a cost-of-living crisis that experts say are exacerbated by his unconventional economic policies. The longtime leader appointed an internationally respected former banker as finance and treasury minister and on Friday named a former co-CEO of a US-based bank as head of the central bank. But lingering uncertainty over Erdogan's economic direction and an apparent move to loosen government controls of foreign currency exchanges have led Turkiye's currency to plunge to record lows against the US dollar this week. The Turkish lira has now weakened by around 20 per cent against the dollar since the start of the year. It has raised fears of even higher prices for people already struggling to afford basics like housing and food amid high inflation. I am anxious. I am unhappy. Soon my income won't pay the rent, said Sureyya Usta, a 63-year-old who lives in Ankara. Here's a look at the falling v

Erdogan appoints former US bank executive as Turkish central bank chief

Turkish President Recep Tayyip Erdogan on Friday appointed a former US-based bank executive to head Turkiye's central bank, in another sign that his administration might pursue more conventional economic policies. Erdogan named Hafize Gaye Erkan, a former co-chief executive officer of the First Republic Bank, as governor, according to an announcement in the Official Gazette. The Princeton-educated Erkan, 41, becomes the Turkish central bank's first woman governor. Erdogan won a third presidential term in elections last month as the country grapples with a cost-of-living crisis fuelled by inflation that peaked at a staggering 85 per cent in October. Critics blame the turmoil on Erdogan's policy of lowering interest rates to promote growth. The approach runs contrary to conventional economic thinking that calls for rate increases to combat inflation. On Saturday, Erdogan reappointed Mehmet Simsek, a respected former banker, finance minister and deputy prime minister, to the post of .

Turkish lira crashes 7% after Recep Tayyip Erdogan's third term starts

In other Turkish markets, the main stocks index rose 3.1%, extending gains since the vote to 21% and reversing this year's losses

Turkey's Erdogan takes oath of office for third term as president

Turkish President Recep Tayyip Erdogan was sworn in at the parliament and officially started his third term for the upcoming five years

Turkey's Erdogan set to take oath for 3rd term, announce new Cabinet

Turkiye's longtime president, Recep Tayyip Erdogan, is to be sworn in for his third term on Saturday. All eyes are on the announcement of his new Cabinet its lineup should indicate whether there will be a continuation of unorthodox economic policies or a return to more conventional ones amid a cost-of-living crisis. Erdogan, 69, won a new five-year term in a runoff presidential race last week that could stretch his 20-year rule in the key NATO country that straddles Europe and Asia, into a quarter-century. The country of 85 million controls NATO's second-largest army, hosts millions of refugees and played a crucial role in brokering a deal that allowed the shipment of Ukraine grain, averting a global food crisis. Erdogan is scheduled to take the oath of office in parliament, followed by an inauguration ceremony at his sprawling palace complex. He is scheduled to reveal the members of his new Cabinet during a separate ceremony later on Saturday. Dozens of foreign dignitaries are

NATO presses Turkey to drop objections to Sweden's membership as meet nears

NATO on Thursday ramped up pressure on its member Turkiye to drop its objections to Sweden's membership as the military organisation seeks to deal with the issue by the time US President Joe Biden and his counterparts meet next month. Fearing that they might be targeted after Russia invaded Ukraine last year, Sweden and Finland abandoned their traditional positions of military nonalignment to seek protection under NATO's security umbrella. Finland became NATO's 31st member country in April. NATO must agree unanimously for countries to join. Turkiye's government accuses Sweden of being too lenient on terrorist organisations and security threats, including militant Kurdish groups and people associated with a 2016 coup attempt. Hungary has also delayed its approval, but the reasons why have not been made publicly clear. It's time for Sweden to join now, Norwegian Foreign Minister Anniken Huitfeldt told reporters in Oslo, where she was hosting a meeting with her counterparts to prepar

How Erdogan won in Turkey and what does it mean for the country's future

If Recep Erdogan serves the full five-year term, he will have held power for 26 years - almost the entire history of Turkey in the 21st century.

Erdogan's poll triumph leaves Turkiye divided; Lira hits record low

But the prospect of five more years of Erdogan's rule was a harsh blow to an opposition which accused him of undermining democracy as he amassed ever more power - a charge he denies