Turkish opposition lawmakers said the government was advancing an Islamist agenda after a law was passed banning all alcohol advertising together with night-time alcohol sales at stores. Local businesses and foreign investors expressed concern.
Turkey’s parliament approved a law banning retail alcohol sales at night and promotion of alcoholic drinks as opposition lawmakers accused Prime Minister Recep Tayyip Erdogan of pushing an Islamist agenda.
Communities inhabited by Shiite Muslims and President Bashar al-Assad’s Alawite minority will be “wiped off the map” if the strategic city of Al-Qusair in central Syria falls to government troops, rebel forces said.
Turkey’s bonds rallied, sending yields to all-time lows, after Moody’s Investors Service raised the country to investment grade for the first time in two decades, fueling expectation of capital inflows. The lira weakened on speculation the central bank will cut rates.
Japanese Prime Minister Shinzo Abe vowed to increase private investment and infrastructure exports as part of his strategy to overcome deflation and build on an economic expansion fueled by rising consumer spending.
Two deadly car bombings last weekend near Turkey’s border with Syria underscored what Turkish Prime Minister Recep Tayyip Erdogan will be looking for from President Barack Obama in Washington this week: stronger U.S. leadership on Syria’s civil war.
Turkey paid its last loan installment to the International Monetary Fund after a 52-year relationship, a triumph for Prime Minister Recep Tayyip Erdogan as government debt falls even as private borrowing surges.