Mandatory ticket-payment cards for Turkey’s soccer league are spurring protests from fans who say the passes could be used for surveillance, while forcing them to pay the bank running the system a commission on every sale.
The Turkish lira’s post-election rally is over as investors shift their focus from Prime Minister Recep Tayyip Erdogan’s victory last month to companies needing to repay their foreign-currency debts, the top forecaster said.
The threat of Turkey’s debt being returned to junk by Moody’s Investors Service risks arresting a 2 1/2-month rally by the lira, countering the improvement in the nation’s current-account deficit amid a pick-up in exports.
Pacific Investment Management Co., the world’s biggest bond manager, sees opportunities in Russia after investors sold out of the country during the standoff with Europe and the U.S. over Crimea. It’s throwing in the towel on Turkey.
Turkey’s lira weakened for a third day, while bonds and stocks fell, as Moody’s Investors Service lowered the nation’s credit-rating outlook to negative 11 months after upgrading the debt to investment grade.
Turkey isn’t politically fit to join the European Union and shouldn’t become a member, the lead candidate of Chancellor Angela Merkel’s Christian Democratic Union for European Parliament elections said.