Tugce Ozsoy

News Reporter at Bloomberg News

Bloomberg News reporter in Istanbul. Opinions are my own. RTs are not endorsements.

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Articles

La inflación anual de Turquía registra una desaceleración sorprendente a niveles de 2021

3 days ago | bloomberglinea.com | Beril Akman |Tugce Ozsoy

Bloomberg — La inflación anual de Turquía se redujo al nivel más bajo desde noviembre de 2021, allanando potencialmente el camino para que el banco central recorte las tasas de interés en un futuro próximo. El aumento de los precios se ralentizó hasta el 35,4% el mes pasado desde el 37,9% de abril, según informó el martes la oficina estatal de estadísticas TurkStat.
Turkey Posts Surprise Inflation Slowdown Fanning Rate-Cut Hopes

3 days ago | bloomberg.com | Beril Akman |Tugce Ozsoy

A shopper at the Mahmutpasha market in Istanbul. (Bloomberg) -- Turkey’s annual inflation eased to the lowest since November 2021, potentially paving the way for the central bank to cut interest rates in the near future. Price increases slowed to 35.4% last month from 37.9% in April, state statistics office TurkStat said Tuesday. Data came in below expectations, with the median forecast in a Bloomberg survey pointing to a 36% reading.
Revved-Up Polish Assets Dip as Election Erodes Pro-EU Tilt

4 days ago | ca.finance.yahoo.com | Konrad Krasuski |Tugce Ozsoy

(Bloomberg) -- Polish stocks and bonds — among the world’s stand-out performers of 2025 — dipped after a nationalist unexpectedly won the presidential election, dealing a blow to the government.
Turkey Issues Raft of Warrants in Mayor Probe, Anadolu Says

6 days ago | bloomberg.com | Tugce Ozsoy

The ferry terminal in the Eminonu district of Istanbul, Turkey, on Wednesday, March 19, 2025. Turkish markets buckled on Wednesday after the detention of President Recep Tayyip Erdogan’s most prominent rival, Ekrem Imamoglu, stoked concern that political upheaval risks undermining recent investor-friendly economic policies.
Saudi Stocks Set to Be World’s Worst in May After Oil-Price Drop

1 week ago | bloomberg.com | Tugce Ozsoy

Pipes leading to oil storage tanks at the Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia. Source: Bloomberg(Bloomberg) -- Saudi Arabia’s sliding stocks are on course to be the worst performers globally this month as falling oil prices prompt concerns of slower spending on mega projects in the kingdom. The Tadawul All Share Index has slumped 6.4% in May as of Tuesday’s close, the most among 92 equity benchmarks tracked by Bloomberg.
Half of Turkish Firms in Red as Tight Monetary Policy Bites

2 weeks ago | bloomberg.com | Tugce Ozsoy

Skyscrapers in the International Finance Center, including the Turkish central bank, center, in Istanbul. (Bloomberg) -- Turkish companies that once backed the central bank’s return to orthodox monetary policy are now reporting widespread losses, as borrowing costs near 50% and fears of a hard landing grow. Of the 539 companies that disclosed first-quarter earnings, 269 reported net losses, according to Bizim Menkul brokerage, up from 206 a year earlier.
Gulf Stocks Set for Much Bigger Role in EM Index, Franklin Says

3 weeks ago | bloomberg.com | Tugce Ozsoy

Riyadh(Bloomberg) -- The representation of shares from Gulf stock exchanges in the benchmark emerging-market equity index is set to rise by almost half because of the region’s “profound transformation,” Franklin Templeton said. Stocks from Gulf Cooperation Council nations are “meaningfully under-owned” by investors, and account for around 7% of MSCI Inc.’s developing country index, said Salah Shamma, Franklin Templeton’s Dubai-based head of equity investment for the Middle East and North Africa.
Turkish Central Bank Chief Defends Interventions to Bolster Lira

4 weeks ago | bloomberg.com | Beril Akman |Tugce Ozsoy

Fatih Karahan(Bloomberg) -- Turkey’s monetary chief defended the central bank’s decision to sell tens of billions of dollars of reserves to stabilize the lira in recent weeks, striking a defiant tone in the face of criticism from politicians. The moves were necessary to “avert excessive volatility in the exchange rate,” Governor Fatih Karahan said.
Turkey Lira Woes Ease as Central Bank Pushes Funding Cost Higher

1 month ago | bloomberg.com | Tugce Ozsoy |Beril Akman

Turkish lira banknotes. Photographer: Moe Zoyari/Bloomberg(Bloomberg) -- The pressure on Turkey’s lira is showing early signs of easing, with the central bank pushing ahead with more aggressive tightening to provide a buffer from domestic political and global trade risks. The weighted average cost of funding from the central bank rose to its highest level this year — 48.8% as of Monday — according to the latest data compiled by Bloomberg.
S&P Global Affirms Turkey at BB-, Warns of Risks to Growth

1 month ago | bloomberg.com | Taylan Bilgic |Tugce Ozsoy

Turkish lira rates at an exchange bureau in Istanbul. (Bloomberg) -- S&P Global Ratings affirmed Turkey’s long-term foreign currency debt rating at BB-, and kept the outlook stable, while warning of risks to growth. Protests against the arrest of a leading opposition politician could prove to be a “long-term impediment to investor and household confidence, as well as currency stability and growth,” the credit ratings agency said in a scheduled review late on Friday.