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18.05.26 - 12:15
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Behind Turkey′s Gold Sales: The Biggest Ever Plunge In Foreign Reserves (ZeroHedge)
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Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves
Shortly after the Iran war started, with gold unexpectedly tumbling, we showed that the reason behind gold's paradoxical move - after all, the precious metal has traditionally been a store of value in times of geopolitical stress - was the furious liquidation of gold by emerging markets, in this case Turkey, scrambling to obtain reserve dry powder so Ankara could cover soaring costs of energy imports.
And indeed, the latest central bank data showed that Turkey's foreign reserves had their biggest monthly decline on record in March, as the Iran war triggered global selloffs in emerging market assets and strained the lira.
According to balance-of-payments data released on Wednesday, Turkey's official reserves cratered by $43.4 billion in March. Part of the decline reflected state intervention to offset portfolio outflows. The current-account deficit, meanwhile, widened to $9.7 billion in March from $7.3 billion in Feb...
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18.05.26 - 10:12
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Turkey Consumer Confidence Rises In May (AFX)
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ANKARA (dpa-AFX) - Households in Turkey remained less pessimistic in May, survey data from the Turkish Statistical Institute showed on Monday.The consumer confidence index rose to 85.8 in May from......
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17.05.26 - 18:06
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Türkei: plötzlich Insel der Stabilität? (DW)
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Der Iran-Krieg sorgt für Unsicherheit an den Märkten. Doch die Türkei nutzt das Momentum und setzt mit großzügigen Steuererleichterungen auf ausländische Investoren und Kapital....
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16.05.26 - 14:30
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Turkey Proposes $1.2B Fuel Pipeline To Reboot NATO′s Eastern Flank Logistics (ZeroHedge)
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Turkey Proposes $1.2B Fuel Pipeline To Reboot NATO's Eastern Flank Logistics
Just when it seemed as if the European energy landscape couldn't get any more fractured, Ankara is stepping up with a massive, off-grid proposal. Bloomberg reports Friday that Turkey has "proposed building a $1.2 billion (€1 billion) fuel pipeline for military use to help meet the energy needs of allies on NATO's eastern European flank, according to people familiar with the matter."
"Following a push by the alliance to expand its military pipeline network, Ankara is proposing that the new link be built from Turkey to Romania via Bulgaria, said the people, who spoke on condition of anonymity," the report adds.
Source: Envato
Insiders claim the Turkish route could cost a mere one-fifth of the alternative proposals, amid several alternative routes being floated of late, specifically via Greece or Romania's western neighbors.
Officials told Bloomberg that Russia's ongoing war in Ukraine and th...
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