Author: Cemil Nuray

Kenes Rakishev, star investor, international entrepreneur, philanthropist and former special envoy of the Kazakhstan government, meets star chef, Gordon Ramsay and star manufacturer, Borealis Foods to change the international food market. When Kenes Rakishev embarked on the establishment of Oxus SPAC, a specialized entity aimed at acquiring and subsequently taking companies public on the American stock market, experts were filled with anticipation and conjecture regarding his targeted investments. Renowned for his diverse interests spanning robotics, battery technologies, communications, and groundbreaking concepts, Kenes Rakishev’s decision left everyone startled, as he delved into an exceedingly unforeseen realm: the food sector. Kenes Rakishev…

ISTANBUL — Turkey’s government has unveiled a new economic program to bring inflation down to single digits by 2026, but questions linger on whether it can attract much-needed foreign investments. The so-called Medium-Term Program, which covers the next three years, is Ankara’s first comprehensive economic plan since a new economic leadership took office in June and pledged to return Turkey to “rational ground” in economic management. Following his reelection in late May, President Recep Tayyip Erdogan appointed a new economy boss — Treasury and Finance Minister Mehmet Simsek — and replaced the central bank’s governor and senior managers, signaling a turnaround from his unorthodox policies…

When fighting with an opponent bigger and tougher than you, boxers have a couple of rules. First, precision beats power. Second, timing beats speed. And finally and most importantly — make your opponent respect your punch. After years of cozying up to Beijing under former President Rodrigo Duterte, the Philippines under leader Ferdinand Marcos Jr. is taking a stand. The most recent example can be found in Manila’s reaction to China’s insistence that it moves a rusty old tank landing ship in the South China Sea. The Armed Forces of the Philippines says one of its supply boats was blocked and water-cannoned by a…

On Thursday, officials from China and Turkey promised to improve their partnership in the travel and tourism industry. A tourism promotion meeting in the largest Turkish city of Istanbulwas held which saw the participation of Elif Balci Fisunoglu, vice general manager of the Turkey Tourism Promotion and Development Agency and Wei Xiaodong, China’s Consul General in Istanbul, among others. “China is one of our priority markets, and we look forward to working together to develop our existing relationship further,” Elif Balci Fisunoglu said. According to Fisunoglu, there were over 426,000 Chinese tourists to Turkey in 2019. He also stated that…

On August 2, Russia reaffirmed its stance on the collapsed Black Sea Grain deal by striking Ukraine’s main inland port city of Izmail, on the Danube River, near the Romania-Ukraine border, and has become the main transfer point for Ukraine’s grain and oil seeds. Since then, U.S. Ambassador to the U.N. Linda Thomas-Greenfield has been trying to bring the issue of combating food insecurity to the forefront of the UN agenda. The US also believes that Russia might be ready to return to the grain deal. Intensification Of Attacks Since withdrawing from the grain deal, Russia has allegedly targeted 26…

ISTANBUL, Aug 4 (Reuters) – Turkey’s new-look economic team met for the first time with dozens of international investors on Friday and pledged to continue hiking interest rates, even as economic growth slows, to head off rebounding inflation, two sources said. According to the sources and a draft programme, the eight-hour meeting in Istanbul included Finance Minister Mehmet Simsek and Central Bank Governor Hafize Gaye Erkan discussing monetary and fiscal policy and the economic outlook. The face-to-face meeting with more than 40 investors marks a more transparent market turn by the authorities, and comes two months after President Tayyip Erdogan…

As of May 20 of this year, 22,000 Wagner fighters had been killed in Russia’s war in Ukraine — close to a quarter of the total number of the paramilitary group’s troops who’ve fought in the country — according to a Wagner-affiliated Telegram channel. “A total of 78,000 PMC Wagner fighters participated in the Ukrainian mission,” said a statement posted late Wednesday on the “Wagner Loading” channel, which appears to be close to the group’s mutinous leader, Yevgeny Prigozhin. “At the time of the capture of Bakhmut (20 May), 22,000 fighters were killed, 40,000 wounded,” the statement said. U.S. intelligence said in…

China’s defence industry is exploring options to set up production in Turkey to expand its international market share, but will weigh the potential risks in its expansion drive, Chinese analysts said. Risk factors like pressure from the United States and a less than satisfactory track record with Turkish business partners will be carefully considered by Chinese defence producers as they venture into the new market to take advantage of its Nato membership status, they said. Chinese defence producers are interested in buying Turkish companies, according to a report by the US-based Defence News early this week, citing an unnamed Turkish government official…

ISTANBUL, Turkey – As events unfolded in Russia over the weekend, thousands of Russians who left for Turkey after their country invaded Ukraine remained glued to their screens. They kept up with friends and family back home and relied on the Telegram messaging app and opposition news sources as the Wagner mercenary group staged a mutiny in a march to Moscow, threatening the government of Russian President Vladimir Putin. Elena and Maxim, a couple in their 20s, watched from Istanbul. “It was a circus,” says Elena. They and other Russians in Istanbul who spoke to NPR did not want their…

Istanbul (AFP) – Turkey’s inflation rate slowed for a fourth straight month in February, data showed Friday, but remained in double-digits ahead of elections where President Recep Tayyip Erdogan’s economic record will be a key issue for voters. The inflation report comes as the government prepares to pour billions of dollars into rebuilding huge swathes of Turkey following the massive earthquake that struck on February 6. Scores of cities were devastated and more than 50,000 people were killed in Turkey and neighbouring Syria, leaving millions needing urgent help with accommodation and medical care. Erdogan’s government was already fighting runaway inflation before…