In Turkey alone, it is estimated that the devastating earthquake caused more than 100 billion dollars in damage. That says Louisa Vinton, representative of the UN Development Program (UNDP) in Turkey, on Tuesday in Geneva. The World Bank, UNDP and the EU, among others, contributed to the estimate. “The costs […]
Turkey
The World Bank estimates the damage caused by earthquakes in Turkey at around USD 34 billion. But the actual costs can be two to three times higher because rebuilding costs more money than what has been lost in housing and infrastructure. According to the World Bank, more than half of […]
Turkey plans to resume trading in the capital Istanbul on Wednesday. This is reported by the Bloomberg news agency based on insiders. On Monday, it was still considered to extend the trade break, but that has not been done. Trading was halted last Wednesday after a sustained price fall following […]
The impact of this week’s earthquake in southeastern Turkey on that country’s economy will be significant. Yet Turkey’s economy is now stronger than during the previous major earthquake in 1999 near Izmit. That’s what IMF directors said during a financial summit on the Arab world. IMF chief Kristalina Georgieva noted […]
According to Turkish President Erdogan, the earthquake in southern Turkey has left 912 dead and nearly 5,400 injured. More than 592 deaths have already occurred in Syria. Erdogan describes the quake as the biggest disaster since 1939. There is a good chance that the death toll will rise even further […]
The floods that have ravaged Turkey and the capital Ankara in particular since Saturday have already killed four people. A fifth person has been reported missing. More rain is expected on Monday, Turkish media write. Three bodies were found in Ankara province. Emergency services are still looking for one […]
Turkish President Recep Tayyip Erdogan finds it “unacceptable” that Russia has officially recognised two separatist regions in eastern Ukraine. The Turkish head of state is calling on all parties to abide by international law and use common sense, Turkey’s Anadolu news agency said. NATO member Turkey shares a maritime […]
Turkish President Recep Tayyip Erdogan appointed a new finance minister on Wednesday evening after the turbulent weeks that the Turkish economy has had. As a result, the lira has plummeted, and inflation has risen sharply. In a presidential decree issued at midnight local time on Wednesday, the head of […]
The pick-up in tourism means good news for the Turkish treasury. For the first time in nine months, a current account surplus was recorded in August, the Turkish central bank reported. The balance in the important summer month was converted to 445 million pounds positive, whereas it was 3.2 […]
In Turkey, 92 people have been sentenced to life in prison for involvement in the failed 2016 coup against President Recep Tayyip Erdogan. The trial focused on the incidents at the army headquarters in Ankara. Among other things, former generals have been convicted. They are officially sentenced for violating […]
