Mexican used-car startup Kavak expands outside Latin America
Mexican used-car platform Kavak is investing $180 million to open offices and make its platform available in four new countries, including Turkey – its first location outside Latin America, the company said Wednesday.
Uber seals taxi deal to expand its business in Italy
Uber Technologies Inc (UBER.N) has clinched a deal to integrate its ride-hailing app with Italy’s largest taxi dispatcher as it seeks to boost its presence in the eurozone’s third-largest economy, the company said on Tuesday.
In a time of rising inflation, tourism could be Turkey’s rescue
Turkey’s annual inflation rate has reached a 20-year high of 48.7%, according to government figures released last week. Turkey’s social and economic progress has been outstanding since the 2000s, resulting in increasing employment and earnings and elevating the country to an upper-middle-income status. Turkey increasingly urbanized throughout this time, maintaining strong macroeconomic and fiscal policy […]
Turkey’s Halkbank shares jump after U.S. prosecution put on hold
Turkey’s Halkbank shares climbed more than 8% on Monday after a U.S. appeals court put its prosecution by the federal government, for allegedly helping Iran evade American sanctions, on hold while the bank appeals to the U.S. Supreme Court.
EXCLUSIVE Turkey’s cryptocurrency trades top 1 million a day amid lira woes
reuters.com/markets/us/exclusive-turkeys-cryptocurrency-trades-top-1-million-day-amid-lira-woes-2021-12-21/
Spain’s BBVA says Garanti deal priced in further lira depreciation
Spain’s BBVA (BBVA.MC) on Wednesday reiterated its long-term commitment towards Turkey and said lira depreciation had been taken into account while structuring its recent purchase offer for a stake in Garanti Bank.
Erdogan declares that Turkey will open 1,000 new markets in order to combat high inflation!
On Sunday, Tayyip Erdogan, president of Turkey has ordered agricultural cooperatives to open about 1,000 new markets across the country to provide “suitable” prices for consumer goods. Construction is to start quickly on the shops to provide Turks “cheap and high-quality goods” and to “balance out markets”, he said, after consumer price rises to levels […]
Erdogan says Turkey plans to buy more Russian defense systems
WASHINGTON, Sept 26 (Reuters) – President Tayyip Erdogan said Turkey still intended to buy a second batch of S-400 missile defense systems from Russia, a move that could deepen a rift with NATO ally Washington and trigger new U.S. sanctions. Washington says the S-400s pose a threat to its F-35 fighter jets and to NATO’s […]
EXCLUSIVE Turkey’s banks set for capital healing after pandemic battle -sources
Turkey is considering a fresh capital injection for state banks but they also need a plan to deal with lingering bad debt after the lenders depleted their resources helping Ankara’s battle against COVID-19, senior bankers and government officials say.
Ghosts of taper tantrum to haunt EMFX, stir volatility memories: Reuters poll
Volatility risks in coming months are high on the radar of emerging market currency investors still familiar with past Fed tightening, a Reuters poll of strategists found, but commodity prices are offering support amid slow vaccination rates.
