National & International News

Rate cut doubt on inflation spurt

TURKEY’S annual inflation rate rose to a two-year high in April, raising questions over whether the central bank will bow to government pressure to deliver a widely expected rate cut later this month, the Hurriyet has reported.  

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Close your inactive Turkish bank accounts

Berk Cektir -Zaman Legal Column NOBODY likes someone giving them bad news all the time. It is my job to inform expats in Turkey about all changes, whether they’re good or bad. Usually the changes introduce more inconveniences. In Turkey opening a bank account is not that easy at the beginning in that banks require…

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Pet ownership to require a certificate in Turkey

ANYONE who wants to have a pet at home will need to undergo training, the Hurriyet has reported. Pet owners will also have to provide suitable accommodation for the welfare of the animal, as well as meeting its ethological needs and care for its health. With the new arrangement, sales of all kinds of pets…

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British Ambassador steps into permit fiasco

THE British Ambassador, Richard Moore, this week took the extraordinary step to issue a statement to British expats who have been left floundering around for information regarding the new residence permits changes. There has been no official advice or confirmation from the Turkish authorities or the British embassy on the issue – with expats whose…

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Interest rates left on hold

TURKEY’S Central Bank decided to leave its interest rates unchanged on Thursday, for the third time since it was hiked to protect the lira on January 28. The bank’s Monetary Policy Committee said it would keep overnight interest rates the same, the borrowing rate at 8 percent, the marginal funding rate at 12 percent and…

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Med dream ends for 90,000 expats

RESEARCH has found that a staggering 90,000 UK expats quit Spain because they weren’t happy. A study of those who moved to a Mediterranean country found their levels of happiness were lower than those who had headed in the opposite direction. And official figures from Spanish authorities show how 90,000 Brits packed up and left…

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A new tax on property value gains?

Berk Cektir – Zaman Legal Column IT is becoming difficult to understand the system of laws in Turkey. I really wonder if there is an educated background to some laws requiring specialist knowledge. It seems that the government is willing to impose new taxes on property value increases, and I am not sure if the…

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Skyscanner produces guide to cabin bag restrictions

ALMOST one in four passengers has been caught out by airline cabin baggage restrictions and ended up  paying additional fees to check in their luggage at the airport, according to travel search site Skyscanner. The survey of 1,000 Britons found there is a great deal of confusion surrounding cabin baggage   because airlines are free to…

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Tesco undeterred by ‘challenges’

SUPERMARKET giant Tesco, Britain’s biggest retailer, said Turkey maintains its attractiveness despite the challenges in the local market amid tough conditions in the global business. “Our business in Turkey has been affected by strong competition and our relative exposure to large store formats.  “We have also closed nine loss-making stores, helping to stabilise trading losses.…

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“If I become President”: PM Erdoğan

PRIME Minister Recep Tayyip Erdoğan has told his lawmakers that he is still undecided as to whether he will pursue the presidency, but he vowed to use the full powers given by the Constitution if he is elected president in the popular vote, scheduled for August. Erdoğan convened with his lawmakers April 16 in a meeting that…

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