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Turkey is crossed by two major fault lines and earthquakes are frequent.
In 1999, a magnitude-7.4 quake killed more than 17,000 people in northwestern Turkey, severely damaging the city of Izmit.
Seismologists warn that the northwest could again be hit by a big-magnitude earthquake. The region includes biggest Turkish city and commercial capital Istanbul, which accounts for a huge proportion of the country’s population and economy.
2.7 Business and consumer confidence surveys 2.8 Politics - shorts
Turkey's economic confidence index rebounded 19.1% m/m in June to 73.5 points, Turkish Statistical Institute (TUIK) data showed on June 29.
Turkey’s consumer confidence index fell by 2.7% on a monthly basis in July after rising 5.2% in June, TUIK reported on July 23.
Erdogan took firm grip on social media.
Turkey, Iran and Russia are among 37 emerging and frontier market countries likely to face mass protests in the coming months as restrictions imposed to control the coronavirus (COVID-19) pandemic are increasingly lifted and the huge economic impact of the crisis is realised, according to new research from a global risk analysis company Verisk Maplecroft.
Turkey on July 19 suspended flights to Iran because of the extent of the coronavirus (COVID-19) outbreak in the Islamic Republic.
Iran is suffering a second wave of the coronavirus pandemic. At one point, Turkey became the worst-hit country in the Middle East in terms of COVID-19 as the first wave of infections eased off in Iran, but the second wave has once more put Iran in the unwanted number one spot.
The US Department of Commerce has assigned final countervailing duties on quartz surface products—including those quartz materials used in wood furniture production—imported from India and Turkey, Furniture Today has reported.
The former head of international banking at Turkiye Halk Bankasi (Halkbank), who last year was made CEO of the Istanbul stock exchange, lost an appeal against his conviction for aiding an Iranian plot to evade sanctions and launder $1bn in oil revenue through the US financial system.
The US and Europe appealed to Turkey to free jailed businessman and philanthropist Osman Kavala as he marked his 1,000th day in prison without a conviction and despite an acquittal from a previous case.
Turkish power-ship operator Karadeniz Holding said on June 29 it would soon submit a bid to supply up to 1,000 megawatts of electricity to conflict-torn Libya.
Egypt took a step closer to militarily intervening in the Libyan civil war with Egyptian President Abdel Fatah El-Sisi meeting with tribal leaders from Libya’s eastern provinces to discuss their request for protection in the face of what they call Turkish occupation.
14 TURKEY Country Report August 2020 www.intellinews.com
