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Will the ‘Dry Canal’ be an alternative to the Suez Canal?

Will the ‘Dry Canal’ be an alternative to the Suez Canal?

BY ZEYNEP GURCANLI It did not attract much attention between the election and the earthquake agenda, but Ankara hosted an important foreign visitor at the beginning of the last week. Iraqi Prime Minister Mohammed Shia Al-Sudani paid his first official visit to Turkey. The two agenda items came to the fore during his visit, as...

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A possible reverse capital control ahead

A possible reverse capital control ahead

BY ALAATTIN AKTAS On May 14, one leg of the election will be completed and the parliamentary election will be over. Maybe the new president will be determined that day or the elector will vote for the second tour on May 28. But even if only the parliamentary election ends on May 14, the picture...

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What matters on Wednesday, March 29

What matters on Wednesday, March 29

The Central Bank, which held the Ordinary General Assembly meeting yesterday, didn’t include the information about the cost of the FX-protected TRY deposit accounts (KKM) borne by the bank in its activity report. The bank also didn’t distribute the profit and loss and profit appropriation statements at the meeting, which paved the way for criticism....

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What matters on Tuesday, March 28

What matters on Tuesday, March 28

The size of the damage determined in the agriculture, manufacturing, and tourism industries in 11 provinces affected by twin quakes on February 6 is calculated at TRY 181.1bn, according to the latest report by the Presidency of Strategy and Budget. The biggest damage is in the manufacturing industry at TRY 154.7bn. The size of the...

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What matters on Monday, March 27

What matters on Monday, March 27

The European Union (EU) members, which have approved Germany’s ‘e-fuel’ proposal, agreed on the ban of non-carbon vehicle sales by 2035. Vehicles with internal combustion engines can only be registered as new if they can be filled with carbon-neutral fuels, according to the decision. “If we don’t manufacture vehicles complying with this decision, we’ll lose...

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Central Banks keeps interest rate steady at 8.5%

Central Banks keeps interest rate steady at 8.5%

The Central Bank’s Monetary Policy Committee (PPK) has decided to keep the policy rate (one-week repo auction rate) constant at 8.5% in line with market expectations. Here is the PPK statement: “Although recently released data point to a stronger economic activity than anticipated, recession concerns in developed economies as a result of geopolitical risks and...

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The message from Russia: ‘I am in the Middle East too’

The message from Russia: ‘I am in the Middle East too’

BY ZEYNEP GURCANLI The Middle East storm is brewing. China’s entrance into the Middle East equation by achieving the Iran-Saudi Arabia reconciliation disturbs the U.S., which has seen this region as its backyard for years. However, Washington is not the only one disturbed by the entrance of China into the equation. Russia also began to...

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What matters on Thursday, March 23

All eyes are on the Central Bank’s interest rate decision today. The Monetary Policy Committee (PPK), which lowered the policy rate by 50 basis points to 8.5% last month following the twin quakes on February 6, is expected to keep the rate unchanged. Muslims around the world welcomed the Muslim fasting month of Ramadan yesterday...

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The post-earthquake needs analysis

The post-earthquake needs analysis

BY FATIH OZATAY The financing needed to raise the quake-hit region, and meet the necessary support to those, who lost their homes and jobs, is estimated at around USD 150bn, according to a report by the Economic Policy Research Foundation of Turkey (TEPAV). USD 88bn stems from construction expenditures. One of the determinants of this...

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What matters on Wednesday, March 22

What matters on Wednesday, March 22

Compensation receivables of eligible workers who started their retirement procedures after the regulation regarding the victims of delayed pension age (EYT) entered into force, led to a cash and payment rush in many enterprises. Some companies don’t put into process the resignations of their employees as the banks haven’t allocated loans yet, while others choose...