Turkey ends lira protection scheme as banks tally up damage

With Turkey’s inflation on course to hit 70% by the year-end, the plan to convince depositors to shift to regular deposits with yields well below the inflation rate appears unviable.

Turkey

Ukraine's Zelenskyy meets with Turkish FM as Black Sea pressure rises

The revival of the Black Sea grain deal was likely the top agenda item in the Turkish foreign minister’s meeting with Ukraine's leader as Ankara distances itself from Western efforts to set up alternative routes.

Turkey

Turkey’s Central Bank shifts gears, hikes interest rates to 25%

The 750 basis point rise was higher than analysts' expectations, prompting lira to rebound from a record low.

Turkey

Turkey’s FM tackles long-held disputes with Iraq in first official visit

Hakan Fidan chose Iraq for his first official visit as Turkey's new foreign minister, but the visit appeared to yield little progress on long-standing disputes between Ankara and Baghdad.

Turkey

Wildfire in Turkey’s northwest injures dozens, halts maritime traffic

Dozens of people have been injured and more than 80 livestock have perished as more than a thousand residents flee the wildfire engulfing the country’s northwest.

Turkey

Turkey’s lira sinks further as currency protection scheme changes

Banks are upset with a Central Bank plan to move depositors’ savings out of accounts designed to protect the lira’s value.

Turkey

Kurds suffer as Iraq, Turkey fail to restart oil flow ahead of Turkish FM's Baghdad visit

As Turkish Foreign Minister Hakan Fidan is set to meet in Baghdad with Iraqi leaders, disrupted oil flows, water and cooperation against the outlawed Kurdistan Workers Party are expected to top the agenda.

Iraq

Turkey FM to discuss alternatives to Black Sea grain deal in Ukraine

Turkey's foreign minister will stop in Ukraine Aug. 25 to discuss options for shipping Ukrainian grain amid the deadlock with Russia.

Turkey

Russia benefits from Turkey’s tiff with UN, NATO allies over Cyprus village

The UN Security Council will discuss an incident in the Cypriot border village of Pyla, where Turkish Cypriot security forces are accused of manhandling UN peacekeepers over a controversial road project.

Turkey

Explainer: What's going on between Russia and Turkey amid Black Sea escalation

Ankara’s avoidance of a public confrontation with Moscow reflects its determination to maintain a balancing act between Russia and the West.

Turkey

Tensions in Cyprus amid Turkish Cypriot plans to build controversial road

The rare confrontation between United Nations peacekeepers and Turkish Cypriot security forces rattled the ethnically divided island, which is home to one of Europe’s oldest frozen conflicts.

Turkey

With Gulf charm offensive, Turkey’s Erdogan sets up dealmaking deluge across defense, energy

A Turkish drone factory is coming to Saudi Arabia following a $3.1 billion deal with defense firm Baykar — one of many key deals that should soon take flight across numerous sectors as Turkey deepens cooperation with former Gulf rivals.

Samuel Wendel

In Washington, DC, reporting on regional business and tech