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  • Turkey’s Budget Swings to $4.7 Billion Deficit as Spending Jumps

    Turkey’s central government budget swung to a deficit after running a surplus for two consecutive months as spending outpaced tax collection. The government posted a monthly fiscal deficit of 69 billion liras ($4.7 billion) in March, compared with a gap of 23.8 billion liras in the same month a year earlier.

  • Erdogan’s Saudi visit to mark vital step in Turkey’s regional realignment

    A widely anticipated visit to Saudi Arabia by President Recep Tayyip Erdogan could see the Turkish leader cement ties with Ankara’s greatest regional rival following the transfer of the Jamal Khashoggi case. Turkey has been on a diplomacy drive over the past year to reset relations with countries it fell out with in the aftermath of the Arab Spring, when its support for groups linked to the Muslim Brotherhood was perceived as a threat by Egypt, the United Arab Emirates and Saudi Arabia.

  • Turkey’s decision to transfer Khashoggi case to Saudi Arabia not political, Turkish bureaucrat says

    Turkey's move to halt and transfer the trial of Saudi suspects over the killing of journalist Jamal Khashoggi to Saudi Arabia, upon approval from Turkey's justice ministry, is not a political decision, a high level Turkish bureaucrat said on Friday. Khashoggi's killing at the Saudi consulate in Istanbul four years ago had raised a global outcry and put pressure on Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman. At the time, Ankara had been harshly critical of Saudi authorities and their handling of the investigation, but has since scaled back criticism in an effort to repair ties.

  • Turkey to appoint ambassador to Egypt, ending nine-year standoff | Middle East Eye

    Ankara's decision to appoint an ambassador to Cairo comes after several rounds of diplomatic engagement to repair fractured relationship

  • Turkey, Romania work to defuse sea mines possibly floating from Ukraine

    A mine that appeared Monday was the second reported in the waters near Turkey in three days. Turkey’s government had said previously that it was in contact with both Moscow and Kyiv about the weapons, but did not specify which side, if either, was responsible for the mines.

  • Short Sellers Ramp Up Bets Against Turkey Stocks

    Investors have been bailing out of Turkish stocks in the wake of President Recep Tayyip Erdogan’s determination to lower interest rates, no matter the cost to the economy. Turkey’s inflation is already running at a 20-year high and soaring energy prices are expected to push the country deeper into a wage-price spiral.

  • Turkey and the UAE are getting close again. But why now?

    From a strategic perspective, the transition in US policy in the Middle East to a more practical, less assertive approach with less ambitious objectives has impacted Turkish-UAE relations. The US policy shift isn’t new and has played out in various degrees in consecutive administrations, culminating in the chaotic withdrawal from Afghanistan in August 2021. The intent is to focus on stability—as opposed to democracy promotion—because the United States wants and needs to focus on other issues, such as China, Russia, and domestic challenges like the economy. The United States also supports improving Turkish-UAE relations, which only helps incentivize both sides.

  • Exclusive: Iraq’s speaker under ‘threat’ as Iran, Turkey fight for influence

    The threat against Halbousi comes as he was on Feb. 26 notably photographed alongside Turkey’s President Recep Tayyip Erdogan and Turkish spy chief Hakan Fidan. Fellow Iraqi Sunni politician Khamis Al-Khanjar was also seen in the picture, which was taken in the city of Istanbul. The photo op has sparked controversy in Iraq, and especially among parties close to Iran. Already, some describe the encounter as "evidence of dependence on Turkey.”

  • Turkey’s inflation rate hits a new 20-year high of 54%

    Inflation in Turkey has increased to a fresh 20-year high, a higher than expected 54.44% for February, as the lira continues to suffer and energy prices climb. Prices of consumer goods rose 4.81% on the previous month, according to the Turkish Statistical Institute on Thursday. The producer price index jumped 7.22% on the prior month, clocking an annual increase of 105%.

  • Why Turkey, UAE are moving to reconcile

    The UAE established itself as the Gulf Cooperation Council (GCC) member state most determined to push back against Turkey’s foreign policy agenda in Arab states, while also driving anti-Turkish discourse in Washington.