Economy

Turkey’s Wealth Fund: What’s next?

 Turkey’s Wealth Fund

Murat Yektin 

The government has transferred the public stakes in a number of major public companies to a recently established sovereign wealth fund, stating that the aim was to secure credit at lower rates for big projects by using the shares in these valuable companies as collateral.

Erdogan's money troubles

 Erdogan's money troubles

Author Amberin Zaman

Turkish President Recep Tayyip Erdogan’s call for citizens to convert their dollars to prop up the sagging Turkish lira continues to elicit colorful responses. Barbers promised free haircuts to customers who could prove that they had exchanged their dollars, and stonecutters offered free tombstones. Today, a crooner from the heavily Kurdish province of Hakkari answered the call and dumped his dollars, with a video to prove it.

Japan Overtakes China as Largest Holder of U.S. Treasuries

 Largest Holder of U.S. Treasuries

by Sarah McGregor
Biggest holder of American govt debt held $1.13 Tln in Oct.
China holdings fell to a six-year low of $1.12 trillion

 

A monthly Treasury Department report showed China held $1.12 trillion in U.S. government bonds, notes and bills in October, down $41.3 billion from the prior month and the lowest investment since July 2010. The portfolio of Japan decreased for third month, falling by $4.5 billion to $1.13 trillion, according to the data. Collectively, the two nations account for about 37 percent of America’s foreign debt holdings.

Dollar-hungry Turkey eyes Middle Eastern markets

Turkey  Middle Eastern markets


Author Mustafa Sonmez
TranslatorSibel Utku Bila

 

The turbulence in the Turkish economy, marked by a dramatic depreciation of the Turkish lira, is forcing Ankara to consider emergency measures. While President Recep Tayyip Erdogan led a campaign against the threat of dollarization, the government last week unveiled a package of measures to appease and buoy up economic actors.

Turkish economy shrinks for first time since 2009

Turkish economy shrinks

ANKARA/ISTANBUL

Turkey’s gross domestic product (GDP) contracted by a bigger than expected 1.8 percent in the third quarter of 2016 on weak consumer spending and exports, data from the Turkish Statistical Institute (TÜİK) showed on Dec. 12, marking the first year-on-year decline in quarterly economic growth since 2009.

Greece’s Debt Problem Lingers On

Greece’s Debt Problem

 By Allison Fedirka
Athens and Brussels once again find themselves at an impasse.
Before the Italian banking crisis and referendum, before Brexit, there was Greece. Greece’s debt crisis was really the first public crack in the European Union's armor and one that has yet to be repaired. Readers who want to understand why anti-EU sentiment and nationalism have developed in many of these countries don't have to go to migration or other controversial topics.

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