We announced about a major change in our parent publication, daily DUNYA, yesterday. The team preparing daily DUNYA has decided to continue its journey as a new daily economy newspaper: Nasıl Bir EKONOMİ. Here is why:
“An inevitable farewell, a new start…
We set out to save daily DUNYA exactly three years ago, to save a valuable economics reporting outlet facing closure after years of financial turmoil. As employees, we made all kinds of material and moral sacrifices to run daily DUNYA, the legacy of the veteran journalist Nezih Demirkent, together. We leased the naming rights of the newspaper with the promise of purchase after a three-year period.
Our responsibility was huge, but resources were extremely limited. We did not give up and worked night and day to present daily DUNYA to our readers with the same excitement and meticulousness every day. We have created an exemplary model, perhaps not seen in the history of the Turkish press. We are proud to have carried the reputation and brand value of daily DUNYA far beyond where it was when we started.
Now, we have come to the end of the first three years of the current contract. Our hope and wish were to continue with the daily DUNYA name. However, the contract renewal process unfortunately came to a dead end, no matter our best efforts. We faced conditions that were incompatible with the spirit of the previous contract and made continuation impossible. With a legal warning sent at the very last moment, we were informed that the contract would not be renewed.
In this case, our only option was to forge our own path. Encouraged by the experience of the employees’ newspaper, we decided to continue with a new publication. It was not easy to break away from daily DUNYA, where we worked for many years and formed a strong bond. Of course, we are sad, but now we are on a new path. For this, we are excited, not resentful. As the same team that gave life to daily DUNYA, with the same principles and understanding, we will now be known as “Nasıl Bir EKONOMİ.” Starting from today, Monday, November 21, we will deliver our newspaper to our readers with the same team and the same content, with the enthusiasm and excitement of offering a better newspaper every day. We will follow and interpret the economy together.
We fully believe that we will receive support from our readers in this new step we have taken in the name of principled economy publishing.
Let’s start this journey together.”
DAILY AGENDA
The consumer confidence index increased by 0.6% from 76.2 to 76.6 in November, compared to the previous month, according to the Turkish Statistical Institute (TurkStat).
The Treasury and Finance Ministry will reissue a 5-year (1,757 days) maturity semiannually fixed coupon bond, and a 10-year (3,542 days) maturity semiannually CPI (Consumer Price Index) indexed government bond.
Meanwhile…
>> Turkey has the infrastructure and gas markets to become a natural gas hub, according to Energy and Natural Resources Minister Fatih Donmez. Speaking at the 12th Energy Summit in Antalya, Donmez said the fact that Turkey is the most economic route for new resources and new lines demonstrates the fact that this infrastructure can even further develop.
>> Energy and Natural Resources Deputy Minister Alpaslan Bayraktar stated at the nuclear energy fair, ATOMEXPO 2022, in Sochi that the Turkish government is continuing talks with Chinese and South Korean companies for a new nuclear power plant project. Bayraktar also said they are in talks for small reactors with U.S.-based firms.
>> A debate has started in the business world after producer prices jumped over 150%, USD/TRY rose by 65% and the surge in EUR/TRY hovers around 51%, according to daily NB Ekonomi. Some exporters complain about the adverse impact of FX rates on employment and revenue loss. These exporters, who advocate the unsustainability of the existing FX rates approach, said that because the surge in FX rates remains below cost increases, profitability and cash flow are adversely affected. Other exporters say that a further hike in FX rates will increase inflation and create a recession in the market, which may exacerbate existing problems in the economy.
>> The Treasury and Finance Ministry borrowed TRY 1.9bn during the new issuance of a 4-year (1,274 days) maturity TLREF-indexed government bond.
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