Turkey central bank raises interest rate to 50%

A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank on Thursday raised its key interest rate, the one-week repo rate, from 45% to 50%, citing the continuing need to counter climbing … Read more

Trabzonspor fans invade pitch, attack Fenerbahce players in Turkey

ANKARA, Turkey — Turkish police have detained 12 people after fans of top tier soccer club Trabzonspor invaded the pitch following a home loss against Fenerbahce, touching off violent scuffles between the fans and visiting players. The Trabzonspor fans charged onto the pitch as Fenerbahce players celebrated their 3-2 win following the final whistle of … Read more

Shock and confusion as Turkey seizes earthquake survivors’ homes

By Ceyda Caglayan and Burcu Karakas SAMANDAG, Turkey (Reuters) – Habip Yapar felt lucky that his home in southern Turkey withstood last year’s devastating earthquake. Then a text message appeared on his phone in October telling him the government was taking ownership of the apartment. The message sent to Yapar, 61, declared that the deeds … Read more

Turkey opts for new tightening strategy after signaling pause to hikes

A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was … Read more

Turkey struggles to stop violence against women. At least 71 have been killed this year

ISTANBUL — Muhterem Evcil was stabbed to death by her estranged husband at her workplace in Istanbul, where he had repeatedly harassed her in breach of a restraining order. The day before, authorities detained him for violating the order but let him go free after questioning. More than a decade later, her sister believes Evcil … Read more

Turkey detains 7 more people for allegedly selling information to Israel’s spy agency

ANKARA, Turkey — Turkish police on Tuesday detained seven more people suspected of selling information to the Israeli spy agency Mossad, authorities said, the latest in a wave of such arrests in Turkey. The suspects were taken into custody during simultaneous raids in Istanbul, Interior Minister Ali Yerlikaya said on the social media platform X, … Read more

Turkish annual inflation soars to 67% in February

The Maslak financial and business center in the Sariyer district of Istanbul. Ayhan Altun | Moment | Getty Images Turkish annual consumer price inflation soared to 67.07% in February, the Turkish Statistical Institute said Monday, coming in above expectations. Analysts polled by Reuters had anticipated annual inflation would climb to 65.7% last month. The combined … Read more

Turkey holds interest rate at 45% for first time after 8 months of hikes

Turkish flag over a DenizBank building. Turkey is expected to head to the polls on Sunday. Ismail Ferdous | Bloomberg | Getty Images Turkey’s central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated … Read more

Turkey detains company director as part of inquiry into gold mine landslide that left 9 missing

Istanbul — Authorities in Turkey detained Sunday the director of the company managing a gold mine where a massive landslide in the country’s east left nine workers missing, local media said. A huge landslide engulfed Tuesday the Anagold Madencilik company’s Copler mine in the town of Ilic in Turkey’s mountainous Erzincan province, trapping the workers … Read more

1 Year After Devastating Earthquake, Turkey Mourns Its Dead

ISTANBUL — Millions of people across Turkey on Tuesday mourned the loss of more than 53,000 friends, loved ones and neighbors in the country’s catastrophic earthquake a year ago. To mark what it calls the “Disaster of the Century,” the government arranged a series of events to commemorate the one-year anniversary of the disaster in … Read more