NEWS SCAN for Turkey – May 1st, 2013
Down below you will find a summary of topics from major Turkish papers and internet sites.
Traffic paralyzed in Istanbul, on May 1
Local authorities took precautions to prevent any gathering at Taksim Square for May Day, after the authorities denied union requests to mark the holiday at the iconic square.
Istanbul’s metro stopped working between the Şişhane and Taksim stations, as well as between the Taksim and Levent stations, early in the morning. The Taksim-Kabataş funicular also stopped operating.
All ferry and boat services from the Anatolian side of the city to the European side were also suspended. It was also announced that the metrobus would stop at 5 a.m.
Clashes between police and citizens wishing to celebrate labor day
In Istanbul the largest city of a country where “advanced democracy” prevails, the government has not allowed crowds to celebrate “Labor Day” at Taksim Square, the main center of the city due to unsuitable physical conditions of the place.
Local authorities took precautions to prevent any illegal gathering at Taksim Square for May Day, after the government denied union requests to mark the holiday at the iconic square.
Police used pressurized water and tear gas to scatter the groups after a final warning had been issued at Istanbul’s central Şişli district. The center of the town was under a cloud of tear gas and even police officers and reporters using gas masks were affected from the generously used gas. Many casualties were reported.
Central Bank Governor announces commitment to fight inflation
At a press meeting Governor Başçı said to reporters “In order to achieve the year-end inflation target, foreign balance shouldn’t be disrupted, loan growth should continue moderately and the foreign exchange rate shouldn’t be overvalued”
It is reported that the Central Bank’s 2013-end inflation forecast of 5.3 percent is mainly sourced by the upward revision of commodity prices and has been compensated by the downward revision in food prices.
The report released yesterday stated “after the expected fluctuations in inflation in the short term due to the base effect in energy prices, it is assumed it will end up at between 4.1 percent and 6.5 percent – with a midpoint of 5.3 percent – at end-2013”.
Turkish energy firm Kartet closes deal to export electricity to Northern Iraq
It is reported that Turkish firm Kartet has applied to the to the Turkish energy regulator agency (EPDK) for licence to export electricity to the Kurdistan Regional Government a year.
According to the deal approved by the Turkish Energy Ministry Kartet is expected to supply 200 megawatts (MW) of electricity a year.
New law to liberalize Turkish railways approved by President Gül
It is reported that President Abdullah Gul has approved a draft law on the liberalization of Turkish railways which foresees the establishment of Turkish Railways Corporation.
The law approved by President Gul was sent to the Turkish Prime Ministry for publication in the Official Gazette.
Turkey’s bond rates hit historic low
Turkey’s benchmark bond which was already on a declining trend goes down after remarks by the Turkish Central Bank governor implying that the low-interest environment would persist. Erdem Başçı , Central Bank Governor said at a press meeting yesterday that “The bank would think about trimming short-term rates if the [Turkish Lira’s] real exchange rate rises above 120 on its index”.
At the meeting Başçı presented bank’s quarterly inflation report which said the inflation assumption for the yearend unchanged at 5.3 percent compared to the previous January report. Başçı also stated that the bank takes and will take the necessary measures to ensure that. The yield on Turkey’s benchmark bond sank to a record low under 5.17 percent in the wake of the statements , as Başçı’s words were perceived as indicating that more interest cuts may be on the way
01.05.2013
SOURCE: MEDIA
We do not verify above stories neither do we vouch for their accuracy.
