Turkey

ANKARA, July 21 (Xinhua) -- Turkish President Recep Tayyip Erdogan said he would talk with his Russian counterpart Vladimir Putin soon for the extension of the Black Sea Grain Initiative, the state-run TRT broadcaster reported Friday.

"The termination of the Black Sea Grain Initiative will have a series of consequences, ranging from an increase in global food prices, famine in some regions, to potential new waves of migration," Erdogan told reporters on his flight back to Türkiye.

ISTANBUL (AP) — Turkey’s central bank raised its key interest rate Thursday, another sign of commitment to a traditional path of battling inflation but still falling below expectations after critics blamed President Recep Tayyip Erdogan’s economic policies for inflaming a cost-of-living crisis.

The 2.5 percentage point hike — putting the rate at 17.5% — came a month after the bank unleashed a 8.5% increase, a reversal after more than a year of rate-cutting prompted by Erdogan.

ISTANBUL, July 18 (Reuters) - The Turkish lira weakened more than 2% to a fresh record low against the dollar on Tuesday over market concerns that the central bank might raise interest rates this week by less than previously expected.

The lira hit a record low of 26.9 against the U.S. currency, sliding from Monday's close of 26.3505. It has weakened 30% so far this year.

17 July 2023; MEMO: Turkish President Recep Tayyip Erdogan today embarked on a visit to Saudi Arabia to enhance relations with the Gulf kingdom.

Erdogan will be welcomed by Saudi King Salman Bin Abdulaziz with an official ceremony in Jeddah city.

They will hold one-on-one talks, followed by inter-delegation meetings.

Bilateral relations, regional and international issues will be on the agenda.

ISTANBUL, July 17 (Xinhua) -- Turkish President Recep Tayyip Erdogan on Monday said that a multilateral deal allowed for shipments of grain and other agricultural products from Ukraine's Black Sea ports could be saved.

The Black Sea Grain Initiative, brokered by Türkiye and the United Nations to help alleviate the global food crisis after the Russia-Ukraine conflict, expired on Monday.

Moscow said the deal ended and it would not be renewed unless its conditions were met.

16 July 2023; MEMO: Turkey raised tax on petrol on Sunday to help to fund a 1.12 trillion lira ($42.2 billion) increase to its 2023 budget after February's earthquakes and the May presidential election sent spending soaring.

The additional fuel tax will help with a budget deficit that jumped to 263.6 billion lira in the first five months of the year, up from 124.6 billion lira a year earlier, but it could also stoke inflation that had declined to 38.21% in June from a 24-year high of 85.51% last October.

ISTANBUL, July 16. /TASS/: The decision whether to extend the Black Sea Grain Initiative will be made at the very last moment, as there’s no indication yet that its participants have reached a compromise, a diplomatic source in Turkey told TASS on Sunday.

"Obviously, the decision will be made at the very last moment," the source said.

Russia would agree to extend the grain deal only if it regards the move appropriate, according to the person.

14 July 2023; MEMO: Turkish President, Recep Tayyip Erdogan, on Friday, voiced hope that the parties to the Black Sea grain deal will extend the agreement set to expire on Monday, Anadolu Agency reports.

"We are preparing to host (Russian President Vladimir) Putin in Turkiye in August. We are of the same mind on the extension of the Black Sea grain corridor.

ISTANBUL, July 14 (Xinhua) -- Turkish police launched a counter-terror operation against alleged members of the Islamic State (IS) group and detained more than two dozen suspects, the local NTV broadcaster reported on Friday.

The police raided 15 hideouts of the suspects in the districts of Basaksehir, Esenyurt, and Beylikduzu in Istanbul, and detained 28 foreign suspects, without revealing specific countries of origin.

ANKARA, July 13 (Xinhua) -- Turkish President Recep Tayyip Erdogan said the Turkish lawmakers would make the right decision on Sweden's NATO bid in line with Türkiye's interests, semi-official Anadolu Agency reported Thursday.

"Our parliament will ... make the right decision in line with the interests of our country," Erdogan said when returning from the NATO summit held in Lithuania's capital Vilnius on July 11-12.

Finland and Sweden applied for NATO membership in February 2022. Türkiye finally approved Finland's bid in March this year but has not yet ratified Sweden's.