NEWS SCAN for Turkey – July 16th, 2013

Down below you will find a summary of topics from major Turkish papers and internet sites.

Turkey’s Central Bank signals increase in interest rates

Financial markets received signals from Central Bank yesterday that an increase in interest rates could be expected within the coming days.

The Turkish stock exchange and the lira have been exhausted by lingering uncertainties in global and domestic markets for a while and the uncertainty in the economy has started to become a serious issue for the government as well. Eventually, a signal from the country’s central bank that it will consider raising interest rates is expected to bring a relief to this stress over the economy.

In a rare written statement ahead of a monetary policy committee meeting, Central Bank Governor Erdem Başçı said global policy uncertainty and volatility would not be allowed to damage financial and price stability in Turkey. “A measured step to widen the interest rate corridor will be on the agenda of the next monetary policy committee meeting,” Basci said in the statement ahead of the meeting scheduled for July 23.

Suspect in fatal beating of Gezi protester released

Police have detained at least one suspect among the assailants who brutally beat a Gezi Park protester, Ali İsmail Korkmaz, who died on July 10 from injuries suffered in the incident, Turkish media reported on Monday. The suspect was later released pending trial.

Korkmaz, a 19-year-old university student, suffered a brain hemorrhage after being beaten with baseball bats by men in street clothes as he fled police during a demonstration in support of the Gezi Park protests in Eskişehir. He fought for his life for 38 days at a hospital before finally succumbing to his injuries. The attack on Korkmaz has stoked the tensions that erupted late in May over a government plan to demolish İstanbul’s Gezi Park in Taksim Square and replace it with a replica of an Ottoman-era barracks.

At least 30 detained in Istanbul in Gezi Park operations

It is reported that Istanbul anti-terror teams started an operation early in the morning at more than 100 addresses, including some student dormitories.  At least 30 people were detained in operations in connection to the Taksim Gezi Park protests and this number might increase as the operations are still ongoing.

The government claims the protest have caused big damage for the economy as well as reputation of the country abroad and PM Erdoğan has slammed protesters on every occasion since the beginning of the events.

UEFA approves Beşiktaş ban, reduces Fenerbahçe sentence

European football’s governing body, UEFA, has approved a one-year ban from continental competition on Beşiktaş while reducing Fenerbahçe’s suspension from 2+1 years to two years on rigging accusations.

Beşiktaş will not be permitted to compete on a continental level during the 2013-14 season, while Fenerbahçe will be prevented from playing during the next two seasons, 2013-14 and 2014-15.

Last month both teams were handed suspensions from European competitions for their alleged involvement in the manipulation of Turkish football matches. The teams immediately appealed the decision, with high-ranking representatives offering testimonies to the governing body.

Retail sector stopped growing in June due to Gezi protests

The Turkish retail sector didn’t contracted but stagnated in June after growing between 15 to 20 percent for five consecutive months, due to anti-government protests that continued through the month, sector repsrsentatives have said.

“Our expectation was for the retail sector to grow around and even more than 15 to 20 percent, but the revenue and volume of the sector were around the same level as last year,” the chairman of the United Brands Association, Hüseyin Doğan, said yesterday at a press meeting held to introduce a new federation of retail and shopping mall sector representatives.

The anti-government demonstrations, known as the Gezi Park protests, began at the end of May and continued through June across the country, dealing a big blow to many sectors with the tourism, entertainment and retail sectors at the top.

Pope Francis to pay a visit to Istanbul in November 2014

According to sources close to Vatican, the preparations have begun for Pope Francis’ visit to Istanbul that is scheduled for November 2014.

The visit bears great importance for the Catholic and Orthodox churches, as the meeting between the Pope and the Greek Orthodox Ecumenical Patriarch, one of the leading figures of the Orthodox world is seen as a way of increasing dialogue between Eastern and Western Christianity.

The date for the visit of the pope is not yet set but sources say there is a strong possibility that he will be in Istanbul on November 30.

16.07.2013
SOURCE: MEDIA

We do not verify above stories neither do we vouch for their accuracy.