Latest News from Turkey
Türkiye Expands Serial Production of Long-Range Missiles
Türkiye is expanding serial production of long-range missiles, enhancing its defense capabilities. This development coincides with plans to deploy Bayraktar TB3 drones from LHD platforms. The move strengthens Turkey's military posture in a volatile region.
Turkey Braces for Sharp Rise in Loan Rates on Monday
Turkish banks are set to raise commercial loan rates by 5-6 percentage points toward 50% starting March 30, due to surging oil prices and inflation risks. This ends expectations of near-term rate cuts amid geopolitical tensions. The Central Bank maintains its policy rate at 37% while effective funding costs rise.
Pakistan to Host Turkey, Saudi, Egypt for Mideast War Talks
Pakistan will host foreign ministers from Turkey, Saudi Arabia, and Egypt in Islamabad on March 29-30 to discuss de-escalating the Iran war. Turkey's Foreign Minister Hakan Fidan will attend alongside counterparts. The talks aim to ease regional tensions amid ongoing US-Israeli strikes on Iran.
Iranian President Speaks with Pakistan PM Ahead of Turkey-Led Talks
Iran's President Masoud Pezeshkian held talks with Pakistan's PM Shehbaz Sharif, praising Islamabad's role in peace efforts. This precedes the March 29 meeting with Turkish and other ministers. Discussions focus on mutual trust and de-escalation in the Middle East conflict.
Iranians Fleeing War Cross into Turkey, Describe Bombardments
Iranians arriving in Turkey's border city of Van recount a month of US-Israeli war, including daily strikes on Tehran, blackouts, and fear. Ordinary citizens bear the brunt amid regional missile exchanges. Uncertainty grows along the Turkey-Iran frontier.
Bangladesh and Turkey Agree in Principle on Information Exchange MoU
Bangladesh and Turkey have agreed in principle to sign a Memorandum of Understanding for information exchange. The deal was reached on March 29, fostering bilateral cooperation. This strengthens ties between the two nations.
Turkey Seeks Stronger Economic Ties with Africa
Turkey aims to expand economic cooperation with African countries to elevate relations. This follows developments involving specific African nations. The strategy supports broader diplomatic and trade outreach.
Middle East Conflict Expands, Impacts Turkey's Diplomacy
Yemen's Houthis launch attacks on Israel as US forces deploy amid Iran war, with Turkey relaying messages between sides. Israel strikes Tehran and Lebanon, raising regional risks. Turkey participates in Pakistan-hosted talks to contain escalation.
Turkey's Loan Rate Hikes Aim to Curb Dollarization
Rising loan rates target excess lira liquidity flowing to FX markets and pressure on reserves. Policymakers seek to stabilize the exchange rate amid currency depreciation. Inflation forecasts for 2026 revised to 27.5%.
Geopolitical Tensions Drive Turkey's Defense and Monetary Shifts
Middle East war and oil price surges reshape Turkey's policies, from missile production to tighter credit. Central bank signals further tightening if inflation worsens. Banks reopen lending at steep costs post-credit tightening.