What matters on Monday, November 14

An explosion on Istanbul’s Istiklal Street left at least six people dead and 81 others injured yesterday, according to President Recep Tayyip Erdogan. Speaking at a press conference in Istanbul before leaving for Indonesia to attend the 17th annual G20 summit, President Erdogan said based on initial information from the Istanbul governor, the explosion could be an act of terrorism. Initial observations also show that a woman played a role in the blast, Erdogan said, adding that all perpetrators will be identified. Earlier, Istanbul Governor Ali Yerlikaya stated that the blast occurred at around 4.20 p.m. local time, with police and emergency officials sent to the scene.

Regarding economic data for the week, the Treasury and Finance Ministry will release the central government budget balance figures for October on Tuesday. The Turkish Statistical Institute (TurkStat) will also announce the labor force statistics for the third quarter (Q3), paid employee statistics for September, and the Producer Price Index of Agricultural Products for October on Tuesday.

On Wednesday, TurkStat will release the house sales statistics for October, while the Central Bank will announce the Residential Property Price Index and the private sector’s outstanding loans received abroad for September.

The Central Bank will release the short-term external debt statistics for September and the weekly monetary and banking figures on Thursday.

On Friday, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) will announce the established and liquidated companies for October and the Central Bank will release the international investment position for September and Q3.

In terms of internal affairs, the Six-Party Opposition Table consisting of CHP Chairman Kemal Kilicdaroglu, Democrat Party Chairman Gultekin Uysal, Gelecek Party Chairman Ahmet Davutoglu, IYI Party Chairwoman Meral Aksener and Saadet Party Chairman Temel Karamollaoglu convenes today. The constitutional amendment on the headscarf, the demand of the Independent Turkey Party (BTP) to join the Six-Party Opposition Table, and the roadmap for the shift to the parliamentary system will be discussed at the second meeting of the second-round talks hosted by the DEVA Party.

On Tuesday, President Recep Tayyip Erdogan will attend the G-20 Leaders’ Summit in Indonesia. The problems caused by the Russia-Ukraine war, the grain corridor, recent developments on this issue, and the energy problem will be the main agenda items of the summit. President Erdogan will hold bilateral talks on the sidelines of the summit. The Parliament’s Planning and Budget Commission will discuss the budget for the Justice Ministry the same day.

Moreover, the Parliament’s Planning and Budget Commission will discuss the budget for the Energy and Natural Resources Ministry on Wednesday, the budget for the Culture and Tourism Ministry on Thursday, and the budget for the Ministry of Internal Affairs on Friday.

In the meantime, the Parliament will continue to discuss the legislative proposal for cemevis, the Tax Procedure Law, and the amendment of some other laws this week.


The overall export unit value index increased by 2.7% and the overall import unit value index jumped 27.4% in September, compared to the same month last year, according to TurkStat. The overall export volume index surged by 6.2% and the overall import volume index climbed by 8.4% in the same period.


>> On the cover: Claudia Salomon, President of the ICC International Court of Arbitration is on our cover this week. Salomon says international arbitration is the preferred method for resolving cross-border disputes for Turkish businesses, because of the enforceability of arbitration awards, as opposed to litigation. You can read the details on pages 8-9.

>> Sweden’s accession to NATO calls for concrete action, according to Professor Ilter Turan. You can read the details on page 10.

>> Q&A: Alina Tatarenko, Head of the Democratic Governance Division of the Council of Europe. P.11.

>> Chief Economist Gunduz Findikcioglu addresses ‘Inflation and growth’ on pages 12-13.

>> Zeynep Gurcanli: Closer ties with Turkic states, normalization to continue. You can read the details on page 14.


>> The asset size of Halkbank exceeded TRY 1.2tr in January-September. The bank’s loans rose by 70% to over TRY 1tr in the first nine months of this year, compared to the same period last year. The bank’s deposits surged by 69.4% to TRY 906bn in this period.

>> The consolidated turnover of the technology firm Penta Teknoloji increased by 67% to TRY 6.4bn in January-September, compared to the same period of the previous year.

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