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Zekariya Cektir, 75, collects tobacco leaves in a field near Kurudere village, Adiyaman province, southeast Turkey, Wednesday, Sept. 28, 2022. Tobacco growers in southeast Turkey's Celikhan district are feeling the pinch as annual inflation reaches a new 24-year high. Official data released Monday Oct. 3, 2022 shows consumer prices rise 83.45% from a year earlier, further hitting households already facing high energy, food and housing costs. Experts say the real rate of inflation is much higher than official statistics, at an eye-watering 186%. (AP Photo/Emrah Gurel)

Record Inflation Squeezes Turkish Tobacco Workers, Owners

Mehmet Emin Calkan begins work harvesting a tobacco field in rural Turkey before dawn, then has another shift skewering and stringing the tobacco to dry under the sun. The 19-year-old, who hopes…

AP 03, Oct 2022
A money changer holds Turkish lira banknotes at a currency exchange office in Ankara, Turkey October 12, 2021. REUTERS/Cagla Gurdogan

Turkish lira Weakens Further After Erdogan Vows More Rate Cuts

Turkey's lira dipped 0.4% against the dollar on Tuesday as concerns over rampant inflation were stoked by President Tayyip Erdogan's pledge to continue cutting interest rates. In a Monday evening…

07, Jun 2022
Turkish financial expert Cüneyt Akman

Turkish Expert Asserts Continued Loss of Lira Amid Unchanged Economic Policies

The Turkish lira continues to touch record lows, the first of its kind, at a time when the Central Bank is trying to control its exchange rate against foreign currencies. The lira continues its…

Jiwan Soz 19, Dec 2021
A Syrian man pays with Turkish lira at a gas station in the town of Sarmada in Syria's northwestern Idlib province, on June 15, 2020. (Getty)

How Turkey Gains from Economic Takeover of Syrian Regions

Turkey has been forcing people for almost a year now to trade using its local currency in different Syrian regions that lie on its southern border and are under its army’s control. Likewise, these…

Jiwan Soz 11, Jun 2021
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Shaky Israel-Iran ceasefire points to unfinished business

24 June 2025

What Trump has dubbed the '12-Day War' could be just the opening salvo of a much longer conflict

Michael Horowitz
Emergency workers check the damage caused to a building from an Iranian missile strike in Beersheba in southern Israel on June 24, 2025. John Wessels / AFP
Business & Economy

Counting the cost of the Israel-Iran war

24 June 2025

The recent Israel-Iran war is not just a regional flashpoint; it is a mirror reflecting the fragility and interdependence of the modern global economy

Abdel-Rahman Ayas
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Attacks on Iran make a nuclear bomb more likely

20 June 2025

Iran's nuclear programme is damaged, but its determination is heightened

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Israeli and Iranian claims of victory ring hollow

25 June 2025

Netanyahu did not realise his goal of ending Iran's nuclear programme and regime change, and Iran stood alone in its war with Israel, as global and regional allies left it to fend for itself

Houssam Itani
Iranian Supreme Leader Ayatollah Ali Khamenei addresses Iranians on the occasion of the 36th anniversary of the death of Ayatollah Ruhollah Khomeini (portrait), in Tehran on June 4, 2025. KHAMENEI.IR / AFP
Profiles

Ali Khamenei: the guardian of Iran's strategic patience doctrine

21 June 2025

For decades, Iran's supreme leader—first Khomeini, then Khamenei—pursued a strategy of backing regional militias to fight Israel, but with the 'resistance axis' in tatters, Iran is left to fight alone

Arash Azizi

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