Author: Turkiye Scoop

EU auto sales slumped by 14 percent in the first half of this year, data showed on July 15, as supply shortages continued to plague manufacturers. With the lack of computer chips still hobbling production, new auto sales slumped to 4.6 million in the European Union, data from the European Automobile Manufacturers Association showed. Sales in Italy tumbled by 22.7 percent, by 16.3 percent in France, 11 percent in Germany and 10.7 percent in Spain. Sales in non-EU Britain fell by 11.9 percent. Sales also fell by 15.4 percent in June compared to the same month last year, the eleventh consecutive…

Türkiye is a big growth boom waiting to happen, said Robin Brooks, chief economist at the Institute of International Finance (IIF). “Net exports, the difference between exports and imports, have been a positive growth driver for over a year, a sign just how competitive Türkiye’s export sector has become. All that’s needed is macro stability and Türkiye will boom!,” he wrote on Twitter. Türkiye is one of the few emerging markets where exports boom, only Türkiye has consistently positive contributions, he added. “Better days are coming.” In another tweet, Brooks commented on commodity prices, saying that “winners versus losers in the global commodity…

German authorities have approved temporary employment of people from Türkiye to fill the staff shortage at the country’s airports, but airport operators demand longer-term employment. Under a temporary arrangement, Turkish employees will be able to work at German airports until Nov. 6. Most people from the industry said they supported the government’s decision paving the way for hiring from Türkiye but noted that “temporary” employment will not resolve the ongoing problems at the airport and that longer-term employment would be a better option. “We welcomed the German government’s decision to provide an opportunity to hire Turkish staff,” said Flughafen München, which operates the Munich Airport.…

Train drivers at eight British rail companies will go on strike later this month in the second large-scale industrial action set to affect commuters in July. The Aslef train drivers’ union said its members will walk out for 24 hours on July 30 over pay disputes. The disruptions, which come during the busy summer holidays, are expected to affect sports fans attending the Commonwealth Games, which kick off in Birmingham on July 28, and the opening weekend of the English Football League. The announcement came after the Rail, Maritime and Transport union said workers will strike on July 27. Union leaders want a pay…

Authorities announced on Friday that vandalism of a Jewish cemetery in Istanbul on Wednesday was the work of five children between the ages of 11 and 13. Some 81 gravestones were overturned and broken in Hasköy Jewish Cemetery in Istanbul’s Beyoğlu district, where a Turkish Jewish community lived for centuries. The incident has stirred up outrage with the Jewish community calling for the authorities for the swift capture of the perpetrators. Checking footage from security cameras in the area, police found the children were responsible for the vandalism. The Istanbul Governorate said in a statement that the perpetrators were residents of the…

Russia’s war in Ukraine poses the greatest threat to the global economy, U.S. Treasury Secretary Janet Yellen said yesterday as G20 ministers prepare to start talks in Indonesia. Moscow’s invasion has sent inflation soaring at a time when the world is struggling to recover from the Covid-19 pandemic, endangering the gains of the past two years and threatening widespread hunger and poverty. “Our greatest challenge today comes from Russia’s illegal and unprovoked war against Ukraine,” she said on the resort island of Bali ahead of a meeting between finance ministers from the world’s top economies and central bank governors today and on July 16. “We…

Türkiye’s industrial production increased by 9.1 percent in May from a year ago, after rising 10.8 percent in the previous month, data from the Turkish Statistical Institute (TÜİK) showed yesterday. On a seasonally and calendar adjusted basis, the country’s industrial output rose 0.5 percent in the month from April, TÜİK said. In the key manufacturing sector, production increased by 10.7 percent year-on-year, after rising 12 percent in the previous month. On a monthly basis, the manufacturing output was up 0.8 percent. The mining and quarrying industry reported a 5.7 yearly decline in production, while the electricity, gas and steam sector’s output inched up…

Türkiye’s space agency (TUA) and the United Arab Emirates Space Agency (UAESA) have signed a memorandum of understanding (MoU) on the peaceful use of space and space science, technologies and applications. The signing ceremony was held in Istanbul on July 13 where delegations from both countries gathered for an investment workshop. “Within the scope of the memorandum of understanding, the two countries will share information and experience in the field of space exploration and technologies. Joint research and development work will be launched on suborbital flights, launch, rocket, and imaging satellite systems,” TUA said in a statement. The agencies will also carry out joint space…

Landlords who seek lucrative income by leasing out their properties particularly to foreigners at excessive rental prices are now facing problems as new tenants either fail to pay rents or leave the flat before the contract expires. Rent prices have been on the rise in Türkiye for months and many landlords hoping to make larger financial gains ask their existing tenants to hike the rent or evacuate the flats. Some of the landlords want to lease out their properties to foreign nationals, who they believe could afford the higher prices. However, their expectations do not materialize, on the contrary they face even bigger problems.…

Russia will remain barred from Europe’s leading soccer competitions, including the Champions League, after the Court of Arbitration for Sport (CAS) turned down appeals by the national soccer federation and four clubs on Friday. The CAS upheld decisions by the UEFA and FIFA that excluded Russian national teams and clubs following Russia’s invasion of Ukraine. Russia was already excluded from the men’s World Cup qualifying and the women’s European Championship. Its clubs won’t feature in competitions like the Champions League in 2022-23. “The panel finds it unfortunate that the current military operations in Ukraine, for which Russian football teams, clubs and…