Trade group Wines of Turkey is showing off the country’s top reds and whites at a packed tasting at VinExpo fair in Bordeaux this week while heavy-handed regulations are making it harder than ever for them to sell at home.
The lira advanced for a second day as central bank Governor Erdem Basci said he’d intervene to tame currency volatility and as calm returned to Istanbul this morning after a night of violence. Bond yields fell.
Anadolu Efes Biracilik & Malt Sanayii AS, the beermaker part owned by SABMiller Plc, retreated to the lowest level in a year after President Abdullah Gul approved a law that bans the advertising of alcoholic drinks.
Bondholders in Turkey’s biggest brewer are signaling that protesters who’ve taken over Istanbul’s Taksim Square face disappointment as Prime Minister Recep Tayyip Erdogan indicated he won’t cede to their demands.
Prime Minister Recep Tayyip Erdogan returned to Turkey early today with a message of defiance for demonstrators gathered in the country’s two biggest cities, saying the government won’t turn a blind eye to “vandalism and illegality.”
Turkish Prime Minister Recep Tayyip Erdogan has been in tighter spots: He was thrown in jail for alleged Islamism, saw his last political party closed down and survived a showdown with the once all-powerful Turkish military.
Turkish demonstrators clashed with police last night and a second protester was killed, as Prime Minister Recep Tayyip Erdogan predicted an early end to the unrest while the U.S. urged police restraint.