#Gravitas | Turkish national intelligence agency have arrested a Kosovo national, Liridin Rexhepi, for managing Mossad’s financial network in Turkey. Rexhepi allegedly sent money to informants who were conducting psychological warfare against Palestinian politicians in Turkiye.

Mossad's Covert Operations Busted in Türkiye, Financial Network Chief Arrested

Turkiye announced on Saturday that it restored access to the social media platform Instagram, saying that officials had agreed the company would work with authorities to address the government's concerns.

Turkiye blocked access to the social media platform early August 2, citing an inability to comply with the "laws and rules" of the land and the sensitivities of the public.

A senior Turkish official on Saturday accused Instagram of blocking condolence posts over the assassination of Ismail Haniyeh, the leader of the Palestinian militant group Hamas.

Turkiye has condemned Israel's Gaza attacks, demanded an immediate ceasefire, and blasted what it terms unconditional support for Israel by the West.

The nine-day ban triggered protests from users and small businesses who reach their customers through the platform.

Turkiye ranks fifth in the world in terms of Instagram usage, with more than 57 million users, following India, the United States, Brazil, and Indonesia, according to data platform Statista.

"As a result of our negotiations with Instagram officials, we will lift the access block...after they promised to work together to meet our demands regarding catalogue crimes and censorship imposed on users," Transport and Infrastructure Minister Abdulkadir Uraloglu wrote in an X post.

Catalogue crimes include murder, sexual assault, drug trafficking, abuse, and torture, according to Turkish law.

"Significant gains have been achieved in increasing security in the digital environment in Turkiye, legal compliance, protection of user rights and the development of a fair inspection mechanism," Uraloglu said.

Instagram's parent, Meta, had agreed to comply with Turkish law and ensure efficient removal of posts and content if they carry elements of certain crimes or "terrorism propaganda", Uraloglu said.

Instagram did not immediately respond to a Reuters request seeking comment.

"Live metrics show Instagram is being restored across Turkiye's main internet providers after national restriction spanning nine days. This is the country's longest ban of a major social media platform in recent years," Internet monitor NetBlocks said.

Turkiye announced on Saturday that it restored access to the social media platform Instagram, saying that officials had agreed the company would work with authorities to address the government's concerns.

Turkiye announced on Saturday that it restored access to the social media platform Instagram, saying that officials had agreed the company would work with authorities to address the government's concerns. Turkiye blocked access to the social media platform early August 2, citing an inability to comply with the "laws and rules" of the land and the sensitivities of the public. A senior Turkish official on Saturday accused Instagram of blocking condolence posts over the assassination of Ismail Haniyeh, the leader of the Palestinian militant group Hamas. Turkiye has condemned Israel's Gaza attacks, demanded an immediate ceasefire, and blasted what it terms unconditional support for Israel by the West. The nine-day ban triggered protests from users and small businesses who reach their customers through the platform. Turkiye ranks fifth in the world in terms of Instagram usage, with more than 57 million users, following India, the United States, Brazil, and Indonesia, according to data platform Statista. "As a result of our negotiations with Instagram officials, we will lift the access block...after they promised to work together to meet our demands regarding catalogue crimes and censorship imposed on users," Transport and Infrastructure Minister Abdulkadir Uraloglu wrote in an X post. Catalogue crimes include murder, sexual assault, drug trafficking, abuse, and torture, according to Turkish law. "Significant gains have been achieved in increasing security in the digital environment in Turkiye, legal compliance, protection of user rights and the development of a fair inspection mechanism," Uraloglu said. Instagram's parent, Meta, had agreed to comply with Turkish law and ensure efficient removal of posts and content if they carry elements of certain crimes or "terrorism propaganda", Uraloglu said. Instagram did not immediately respond to a Reuters request seeking comment. "Live metrics show Instagram is being restored across Turkiye's main internet providers after national restriction spanning nine days. This is the country's longest ban of a major social media platform in recent years," Internet monitor NetBlocks said.

Turkiye lifts 9-day long Instagram ban, restoring access

China's central bank did not purchase any gold in June, marking the second consecutive month of no gold purchases. Last month marked the end of an 18-month buying streak that pushed Gold prices to record highs. Prices peaked at $2400 an ounce in May but suffered a decline as China awaits price correction to around $2200 per ounce.

Despite the dip, Gold prices were boosted by emerging economies like India &amp; Turkiye. India boosted its gold reserves by nine tonnes in June, bringing the total reserves to 841 tonnes. This marks the largest monthly increase in two years. India also leads among Asian G20 countries in the highest value of Gold as a percentage of total reserves.&nbsp;

China was the largest institutional buyer of Gold in 2023. This aggressive buying trend, led by China &amp; India, was to counter the geopolitical uncertainties roiling currency and stock markets. This led to a global surge in Gold prices. However, in 2024, economic slowdown and property woes have forced China to pump stimulus into the market. This has raised costs for the government, which is now waiting for Gold prices to drop before resuming buying.

Will Gold prices dip?

Gold prices have been on an upward trend, more so after Russia's war in Ukraine spooked investors to pivot to safe-haven assets. While China has been a major factor driving the Gold uptick, the prices are only expected to jump as geopolitical uncertainties continue. US Federal Reserve's rate cut bets in November offsets the lack of buying momentum from China, with India leading the Gold demand in 2024.

The World Gold Council notes that Central Banks and Emerging markets are crucial to sustaining Gold demand as supply challenges loom due to mining bottlenecks and environmental permit difficulties.

China's central bank did not purchase any gold in June, marking the second consecutive month of no gold purchases. Last month marked the end of an 18-month buying streak that pushed Gold prices to record highs.

China's central bank did not purchase any gold in June, marking the second consecutive month of no gold purchases. Last month marked the end of an 18-month buying streak that pushed Gold prices to record highs. Prices peaked at $2400 an ounce in May but suffered a decline as China awaits price correction to around $2200 per ounce. Despite the dip, Gold prices were boosted by emerging economies like India & Turkiye. India boosted its gold reserves by nine tonnes in June, bringing the total reserves to 841 tonnes. This marks the largest monthly increase in two years. India also leads among Asian G20 countries in the highest value of Gold as a percentage of total reserves. China was the largest institutional buyer of Gold in 2023. This aggressive buying trend, led by China & India, was to counter the geopolitical uncertainties roiling currency and stock markets. This led to a global surge in Gold prices. However, in 2024, economic slowdown and property woes have forced China to pump stimulus into the market. This has raised costs for the government, which is now waiting for Gold prices to drop before resuming buying. Will Gold prices dip? Gold prices have been on an upward trend, more so after Russia's war in Ukraine spooked investors to pivot to safe-haven assets. While China has been a major factor driving the Gold uptick, the prices are only expected to jump as geopolitical uncertainties continue. US Federal Reserve's rate cut bets in November offsets the lack of buying momentum from China, with India leading the Gold demand in 2024. The World Gold Council notes that Central Banks and Emerging markets are crucial to sustaining Gold demand as supply challenges loom due to mining bottlenecks and environmental permit difficulties.

India & Turkiye lead global gold buying as China holds back

The Turkish inflation smelt the scent of trending down for the first time in eight months, giving some relief from surging living costs that saw price hikes above 75 per cent.

A Bloomberg survey of economists says the data due Wednesday will show annual inflation declined in June to 72.6 per cent. Monthly price growth, the central bank’s preferred gauge, probably eased to 2.2 per cent, the lowest for more than a year.

Authorities are quite optimistic that this slowdown might be a harbinger of relentless disinflation. This comes after a spate of aggressive interest rate hikes totalling more than 40 percentage points to 50 per cent within less than a year.

Despite this, most economists forecast that inflation will be above 38 per cent of the central bank's target by year-end. Expecting a sharp deceleration in July and August, mostly driven by the statistical effect of a high base from 2023.

“Inflation has reached the peak, and we expect strong disinflation over the upcoming months — thanks to slowing domestic demand,” Deutsche Bank AG analysts, including Christian Wietoska, said in a report. The headline rate is set to reach 'the low 50s' by the end of August, they said.

The evolution will be closely watched by investors who have recently poured money into Turkish assets. That will also determine how soon policymakers could think about reverting to an easing policy after having time and again stressed their commitment to seeing a sustained decline in the underlying trends of inflation before any monetary policy easing is undertaken.

According to Treasury and Finance Minister Mehmet Simsek, the necessity to drive inflation below 42 per cent is not open for a negotiation-in fact; it forms the top end of the central bank's forecasts toward the end of the year. This goal remains way above the official target for the rate of inflation at 5 per cent.

In summary, while in Turkiye, there has been a slowing-down factor in the new series, the prospects remain confusing because of the persistent economic challenges. How effectively inflation can be managed will become a crucial factor not only for the stabilisation of living costs but also in guiding future monetary policy decisions.

The Turkish inflation smelt the scent of trending down for the first time in eight months, giving some relief from surging living costs that saw price hikes above 75 per cent.

The Turkish inflation smelt the scent of trending down for the first time in eight months, giving some relief from surging living costs that saw price hikes above 75 per cent. A Bloomberg survey of economists says the data due Wednesday will show annual inflation declined in June to 72.6 per cent. Monthly price growth, the central bank’s preferred gauge, probably eased to 2.2 per cent, the lowest for more than a year. Authorities are quite optimistic that this slowdown might be a harbinger of relentless disinflation. This comes after a spate of aggressive interest rate hikes totalling more than 40 percentage points to 50 per cent within less than a year. Despite this, most economists forecast that inflation will be above 38 per cent of the central bank's target by year-end. Expecting a sharp deceleration in July and August, mostly driven by the statistical effect of a high base from 2023. “Inflation has reached the peak, and we expect strong disinflation over the upcoming months — thanks to slowing domestic demand,” Deutsche Bank AG analysts, including Christian Wietoska, said in a report. The headline rate is set to reach 'the low 50s' by the end of August, they said. The evolution will be closely watched by investors who have recently poured money into Turkish assets. That will also determine how soon policymakers could think about reverting to an easing policy after having time and again stressed their commitment to seeing a sustained decline in the underlying trends of inflation before any monetary policy easing is undertaken. According to Treasury and Finance Minister Mehmet Simsek, the necessity to drive inflation below 42 per cent is not open for a negotiation-in fact; it forms the top end of the central bank's forecasts toward the end of the year. This goal remains way above the official target for the rate of inflation at 5 per cent. In summary, while in Turkiye, there has been a slowing-down factor in the new series, the prospects remain confusing because of the persistent economic challenges. How effectively inflation can be managed will become a crucial factor not only for the stabilisation of living costs but also in guiding future monetary policy decisions.

Turkiye’s inflation shows signs of slowing amid economic challenges

Türkiye started their Euro 2024 campaign with a dramatic 3-1 win over Georgia in what fans described as the most thrilling match of the tournament so far. Despite several ballers showing their class on the biggest stage, it was 19-year-old Arda Güler who stole the limelight with his gameplay and a wonderful outside-of-the-box goal that secured three points for the&nbsp;Turkish side.&nbsp;

Güler, often referred to as the Turkish Messi has seen his stocks rise rapidly in recent months. The boy from the capital city of Ankara started playing football early but joined the local&nbsp;club Gençlerbirliği at the tender age of nine.&nbsp;

At the age of 14 in 2019,&nbsp;Türkiyeish side&nbsp;Fenerbahçe came calling for Güler and brought him to the club. The youngster's capability of dribbling in tight spaces coupled with his tendency to cut inside from the right wing onto his left foot naturally drew comparisons to Messi.

The teenager quickly delighted the first-team manager at the club while still being with the U19. Impressed with his performances,&nbsp;Güler was given his&nbsp;Fenerbahçe senior debut when just 16 years and 174 days old in a Europa League qualification match.

<a href="https://www.wionews.com/football/euro-2024-arda-gulers-wonder-goal-helps-turkiye-sink-georgia-in-group-f-thriller-732972">Also read |&nbsp;Euro 2024: Arda Güler's wonder goal helps Türkiye sink Georgia in Group F thriller</a>

<h2>Güler moves to the Galacticos</h2>

At&nbsp;Fenerbahçe,&nbsp;Güler also got to learn the ropes from legendary German midfielder Mesut Ozil who arrived at the club in the final essay of a storied&nbsp;footballing career. Notably, after Ozil left&nbsp;Fenerbahçe, it was&nbsp;Güler who received the No.&nbsp;10 jersey worn by the German.&nbsp;

After a productive stint with one of the biggest clubs in&nbsp;Türkiye, Real Madrid came calling for&nbsp;Güler who recognised that the youngster had the potential to become a Galactico.&nbsp;

Subsequently, Güler joined the Spanish giants in July 2023 for $21.5 million&nbsp;plus $11 million in incentives.&nbsp;The transition though was not as smooth as Güler would have hoped. Injuries and a stacked bench meant that&nbsp;Güler struggled to get minutes in the Los Blancos jersey and&nbsp;only played 31 La Liga minutes by the end of April.&nbsp;

However, it changed in the final weeks of the season as&nbsp;manager Carlo Ancelotti gave the opportunity to the youngster who returned the favour by scoring five goals in five top-flight games and becoming the first player from&nbsp;Türkiye to win the Champions League.&nbsp;

The first match of Euro 2024 has shown that&nbsp;Güler has what it takes to be successful on the biggest stage. If&nbsp;Türkiye are to go deep into the continental championship,&nbsp;Güler's form will be critical.&nbsp;

(With inputs from agencies)

Türkiye started their Euro 2024 campaign with a dramatic 3-1 win over Georgia in what fans described as the most thrilling match of the tournament so far. Despite several ballers showing their class on the biggest stage, it was 19-year-old Arda Güler who stole the limelight with his gameplay and a wonderful outside-of-the-box goal that secured three points for the Turkish side.

Türkiye started their Euro 2024 campaign with a dramatic 3-1 win over Georgia in what fans described as the most thrilling match of the tournament so far. Despite several ballers showing their class on the biggest stage, it was 19-year-old Arda Güler who stole the limelight with his gameplay and a wonderful outside-of-the-box goal that secured three points for the Turkish side. Güler, often referred to as the Turkish Messi has seen his stocks rise rapidly in recent months. The boy from the capital city of Ankara started playing football early but joined the local club Gençlerbirliği at the tender age of nine. At the age of 14 in 2019, Türkiyeish side Fenerbahçe came calling for Güler and brought him to the club. The youngster's capability of dribbling in tight spaces coupled with his tendency to cut inside from the right wing onto his left foot naturally drew comparisons to Messi. The teenager quickly delighted the first-team manager at the club while still being with the U19. Impressed with his performances, Güler was given his Fenerbahçe senior debut when just 16 years and 174 days old in a Europa League qualification match. Also read | Euro 2024: Arda Güler's wonder goal helps Türkiye sink Georgia in Group F thriller Güler moves to the Galacticos At Fenerbahçe, Güler also got to learn the ropes from legendary German midfielder Mesut Ozil who arrived at the club in the final essay of a storied footballing career. Notably, after Ozil left Fenerbahçe, it was Güler who received the No. 10 jersey worn by the German. After a productive stint with one of the biggest clubs in Türkiye, Real Madrid came calling for Güler who recognised that the youngster had the potential to become a Galactico. Subsequently, Güler joined the Spanish giants in July 2023 for $21.5 million plus $11 million in incentives. The transition though was not as smooth as Güler would have hoped. Injuries and a stacked bench meant that Güler struggled to get minutes in the Los Blancos jersey and only played 31 La Liga minutes by the end of April. However, it changed in the final weeks of the season as manager Carlo Ancelotti gave the opportunity to the youngster who returned the favour by scoring five goals in five top-flight games and becoming the first player from Türkiye to win the Champions League. The first match of Euro 2024 has shown that Güler has what it takes to be successful on the biggest stage. If Türkiye are to go deep into the continental championship, Güler's form will be critical. (With inputs from agencies)

Who is Arda Güler? The Turkish Messi who lit up Euro 2024 with wonder strike

Türkiye's 19-year-old sensation Arda Guler thumped a wonder goal from outside the box to flatten Georgia 3-1 in front of a boisterous crowd,&nbsp;dominated by tens of thousands of&nbsp;Türkiye supporters at the&nbsp;Signal Iduna Park, Dortmund on Tuesday (Jun 18)

Mert Muldur gave Türkiye a first-half lead with a thunderous volley from the edge of the box. Georges Mikautadze quickly equalised. In the second half, Guler whipped in a curling effort before Kerem Akturkoglu added a late third on the counter after Georgia had hit the woodwork.

Georgia were dangerous after Georges Mikautadze levelled Mert Muldur's 25th-minute opener for Türkiye just after the half-hour mark, and were denied a second equaliser by the woodwork and a series of saves and blocks.

But Akturkoglu made sure Türkiye would top the group ahead of Portugal's opening match with the Czech Republic later on Tuesday.

Türkiye took the cue from their fervent support and went at Georgia from the off, pressuring their inexperienced opposition high up the pitch as a huge din came rolling down the stands.

Kaan Ayhan and Abdulkerim Bardakci both went close with headers from corners inside the first 10 minutes before Ayhan crashed a low drive off the inside of the post.

And in a breathless opening period Anzor Mekvabishvili almost gave Georgia a shock lead in the 11th minute when his wildly deflected shot was well saved by Mert Gunok.

But Muldur sparked wild celebrations in the stands in the 25th minute with a stunning volley after Ferdi Kadioglu's cross was cleared to him on the edge of the area.

<a href="https://www.wionews.com/football/euro-2024-slovakia-cause-first-tournament-upset-with-win-over-belgium-732629">Also read |&nbsp;Euro 2024: Slovakia cause first tournament upset with win over Belgium</a>

<h2>Brave Georgia</h2>

The roars from Muldur's goal had barely subsided when Kenan Yildiz poked home what he thought was Türkiye's second, only for the goal to be ruled out for the Juventus attacker's toes straying offside before he tapped home.

And Mikautadze stunned what was effectively the home crowd in the 32nd minute by sweeping home Giorgi Kochorashvili's low cross after brilliant play down the right.

The small but loud Georgian contingent had their heads in their hands shortly afterwards when Mikautadze look certain to put their team ahead but dragged a great opportunity wide.

Türkiye again started in the front foot after the break but Georgia held their own and Mikautadze was in the thick of it again in the 52nd minute when Bardakci blocked his effort after Khvicha Kvaratskhelia's burst down the left.

Kvaratskhelia, who was below-par throughout, then poked a good chance wide in the 62nd minute and only moments later Guler took aim from distance and arrowed in an unstoppable shot past the despairing Giorgi Mamardashvili.

Georgia pushed for another equaliser and came desperately close five minutes after Guler's strike when Kochorashvili skipped past a couple of weak challenges only to see his shot rattle the crossbar.

But Kochorashvili and Zuriko Davitashvili were both unfortunate not to level in added time as Mamardashvili pushed forward for one last effort and Akturkoglu charged home on the break to seal a thrilling win.

Türkiye's 19-year-old sensation Arda Guler thumped a wonder goal from outside the box to flatten Georgia 3-1 in front of a boisterous crowd, dominated by tens of thousands of Türkiye supporters at the Signal Iduna Park, Dortmund on Tuesday (Jun 18) Mert Muldur gave Türkiye a first-half lead with a thunderous volley from the edge of the box.

Türkiye's 19-year-old sensation Arda Guler thumped a wonder goal from outside the box to flatten Georgia 3-1 in front of a boisterous crowd, dominated by tens of thousands of Türkiye supporters at the Signal Iduna Park, Dortmund on Tuesday (Jun 18) Mert Muldur gave Türkiye a first-half lead with a thunderous volley from the edge of the box. Georges Mikautadze quickly equalised. In the second half, Guler whipped in a curling effort before Kerem Akturkoglu added a late third on the counter after Georgia had hit the woodwork. Georgia were dangerous after Georges Mikautadze levelled Mert Muldur's 25th-minute opener for Türkiye just after the half-hour mark, and were denied a second equaliser by the woodwork and a series of saves and blocks. But Akturkoglu made sure Türkiye would top the group ahead of Portugal's opening match with the Czech Republic later on Tuesday. Türkiye took the cue from their fervent support and went at Georgia from the off, pressuring their inexperienced opposition high up the pitch as a huge din came rolling down the stands. Kaan Ayhan and Abdulkerim Bardakci both went close with headers from corners inside the first 10 minutes before Ayhan crashed a low drive off the inside of the post. And in a breathless opening period Anzor Mekvabishvili almost gave Georgia a shock lead in the 11th minute when his wildly deflected shot was well saved by Mert Gunok. But Muldur sparked wild celebrations in the stands in the 25th minute with a stunning volley after Ferdi Kadioglu's cross was cleared to him on the edge of the area. Also read | Euro 2024: Slovakia cause first tournament upset with win over Belgium Brave Georgia The roars from Muldur's goal had barely subsided when Kenan Yildiz poked home what he thought was Türkiye's second, only for the goal to be ruled out for the Juventus attacker's toes straying offside before he tapped home. And Mikautadze stunned what was effectively the home crowd in the 32nd minute by sweeping home Giorgi Kochorashvili's low cross after brilliant play down the right. The small but loud Georgian contingent had their heads in their hands shortly afterwards when Mikautadze look certain to put their team ahead but dragged a great opportunity wide. Türkiye again started in the front foot after the break but Georgia held their own and Mikautadze was in the thick of it again in the 52nd minute when Bardakci blocked his effort after Khvicha Kvaratskhelia's burst down the left. Kvaratskhelia, who was below-par throughout, then poked a good chance wide in the 62nd minute and only moments later Guler took aim from distance and arrowed in an unstoppable shot past the despairing Giorgi Mamardashvili. Georgia pushed for another equaliser and came desperately close five minutes after Guler's strike when Kochorashvili skipped past a couple of weak challenges only to see his shot rattle the crossbar. But Kochorashvili and Zuriko Davitashvili were both unfortunate not to level in added time as Mamardashvili pushed forward for one last effort and Akturkoglu charged home on the break to seal a thrilling win.

Euro 2024: Arda Güler's wonder goal helps Türkiye sink Georgia in Group F thriller

Turkiye carried out strikes at PKK targets in Northern Iraq. The attack comes after Erdogan's rare visit to Iraq. Watch the report to know more.

Did Turkiye & Iraq plan to strike PKK?

The already strained ties between Israel and Turkey are worsening. Israel retaliated quickly to Turkey's move to limit exports to the country. Turkey's decision came after the country's plan to drop aid over the Gaza strip was opposed by Israel.

Turkey, Israel swap trade threats on Gaza

The big development coming in from Turkey country's Interior Minister has said two more suspects have been taken under arrest on suspicion of spying for Israel. The suspects are believed to have contacted Israeli intelligence agencies and passed them information and documents.

Turkiye captures suspects spying from Mossad

Archaeologists excavating the Neolithic settlement of Boncuklu Tarla in southeastern Turkey have unearthed a remarkable collection of stud-shaped objects, reminiscent of contemporary body piercings. This discovery potentially represents the earliest known instances of body piercing, shedding light on the adornment practices of ancient communities.

The site of Boncuklu Tarla has gained recognition for its extensive assortment of personal ornaments, boasting over 100,000 decorative artefacts since excavation began in 2012.

Among these artefacts, the recent discovery stands out as a testament to the early use of body adornments among sedentary communities.

<h2>Unique insights into early ornamentation</h2>

According to archaeologist Ergül Kodaş and colleagues from Mardin Artuklu University in Turkey, who published their findings, the uncovered artefacts provide a unique glimpse into the use&nbsp;of body piercing ornaments by ancient settlers, as reported by Science Alert.&nbsp;Previous archaeological records primarily feature pendants, necklaces, and charms, making this discovery of body piercings particularly significant.

<a href="https://www.wionews.com/science/scientists-discover-giant-plague-grave-with-1000-skeletons-in-germany-698902">Also read |&nbsp;Scientists discover giant plague grave with 1,000 skeletons in Germany</a>

Kodaş and his team examined the size, shape, and positioning of the objects within the graves at Boncuklu Tarla. Despite some artefacts being displaced, likely by rodents, others remained in close proximity to the human remains, particularly around the ears and jaws.

The unearthed ornaments, particularly those resembling labrets worn beneath the lower lip, offer compelling evidence of early body piercing practices. While similar pieces dating back to 10,000 BC have been found, this discovery presents the most definitive example to date.

<h2>Cultural significance and spread</h2>

Body piercing appears to have been a significant cultural practice in southwest Asia, with evidence dating back to approximately 6,000 BC. The practice likely spread through Mesopotamia and eventually reached other regions, including Africa and Central and South America.

Also watch |&nbsp;Peru: Archaeologists unearth 30 graves from pre-Inca age that date back between 1000-1440 AD

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/peru-archaeologists-unearth-30-graves-from-pre-inca-age-that-date-back-between-1000-1440-ad-565990/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

While children buried at the site were often interred with pendants and beads instead of piercings, the presence of ornaments beside adult skeletons suggests a cultural association between piercings and maturity. The researchers speculate that piercings may have signified certain roles or social statuses within the community.

(With inputs from agencies)

Archaeologists excavating the Neolithic settlement of Boncuklu Tarla in southeastern Turkey have unearthed a remarkable collection of stud-shaped objects, reminiscent of contemporary body piercings.

Archaeologists excavating the Neolithic settlement of Boncuklu Tarla in southeastern Turkey have unearthed a remarkable collection of stud-shaped objects, reminiscent of contemporary body piercings. This discovery potentially represents the earliest known instances of body piercing, shedding light on the adornment practices of ancient communities. The site of Boncuklu Tarla has gained recognition for its extensive assortment of personal ornaments, boasting over 100,000 decorative artefacts since excavation began in 2012. Among these artefacts, the recent discovery stands out as a testament to the early use of body adornments among sedentary communities. Unique insights into early ornamentation According to archaeologist Ergül Kodaş and colleagues from Mardin Artuklu University in Turkey, who published their findings, the uncovered artefacts provide a unique glimpse into the use of body piercing ornaments by ancient settlers, as reported by Science Alert. Previous archaeological records primarily feature pendants, necklaces, and charms, making this discovery of body piercings particularly significant. Also read | Scientists discover giant plague grave with 1,000 skeletons in Germany Kodaş and his team examined the size, shape, and positioning of the objects within the graves at Boncuklu Tarla. Despite some artefacts being displaced, likely by rodents, others remained in close proximity to the human remains, particularly around the ears and jaws. The unearthed ornaments, particularly those resembling labrets worn beneath the lower lip, offer compelling evidence of early body piercing practices. While similar pieces dating back to 10,000 BC have been found, this discovery presents the most definitive example to date. Cultural significance and spread Body piercing appears to have been a significant cultural practice in southwest Asia, with evidence dating back to approximately 6,000 BC. The practice likely spread through Mesopotamia and eventually reached other regions, including Africa and Central and South America. Also watch | Peru: Archaeologists unearth 30 graves from pre-Inca age that date back between 1000-1440 AD While children buried at the site were often interred with pendants and beads instead of piercings, the presence of ornaments beside adult skeletons suggests a cultural association between piercings and maturity. The researchers speculate that piercings may have signified certain roles or social statuses within the community. (With inputs from agencies)

Archaeologists discover earliest direct evidence of body piercings in Neolithic graves in Turkey

The holy month of Ramadan is expected to begin hours from now and Muslims around the world are watching the skies closely to catch a sight of the Crescent Moon that will Mark the beginning of the holy month countries including Saudi Arabia UAE United Kingdom the US Lebanon and Turkiye are likely to begin fasting on March 11th. While in countries like India Indonesia Pakistan Bangladesh the month of Ramadan is likely to begin from March 12th. Watch to know more!

Ramadan 2024: US, UK, Saudi Arabia, Turkiye likely to begin fasting on March 11

Sweden officially joined the North Atlantic Treaty Organization on Thursday. Sweden is now a NATO member State making it the newest member of the military Alliance. Watch to know more!

Sweden officially joins NATO alliance; Here is the list of NATO countries

<o:p></o:p>

Recent threats from the US to impose sanctions on financial institutions conducting business with Russia have reverberated through Turkish-Russian trade, causing disruptions and delays in payments for imported oil and Turkish exports, exclusive insights obtained by Reuters indicate.<o:p></o:p>

This is based on a Reuters report.<o:p></o:p>

The US executive order, issued in December, has cast a shadow over energy transactions between Turkey and Russia, complicating payments for Russian crude oil and hampering the smooth flow of Turkish exports, according to sources cited in the report.<o:p></o:p>

These sanctions, while targeting Russia's revenue streams, have inadvertently affected the intricate web of financial transactions between the two nations, with Turkish banks tightening compliance measures with Russian clients.<o:p></o:p>

Turkish banks, under increasing scrutiny due to the threat of sanctions, have adopted a cautious approach, leading to delays in payments to Russian oil exporters, causing disruptions in the energy supply chain.<o:p></o:p>

Sources reveal that payments have been stalled for weeks, highlighting the growing complexity of conducting financial transactions amid geopolitical tensions.<o:p></o:p>

Despite Ankara's opposition to Western sanctions on Moscow, Turkish banks have been compelled to review their dealings with Russian clients, underlining the precarious balance Turkey seeks to maintain in its diplomatic relations.<o:p></o:p>

The Turkish Treasury and banking watchdog have refrained from commenting on the issue, while Washington continues to exert pressure on Turkish institutions to comply with sanctions.<o:p></o:p>

Russian and Turkish officials have acknowledged the challenges posed by the sanctions, with the Kremlin expressing awareness of the tightening regulations imposed by Turkish banks.<o:p></o:p>

Meanwhile, a senior US State Department official spoke on the importance of foreign financial institutions adhering to sanctions and reiterated ongoing discussions with Turkish counterparts.<o:p></o:p>

Preliminary trade data reveals a significant decline in Turkish exports to Russia, signalling the initial impact of the sanctions on bilateral trade.<o:p></o:p>

Machinery exports have been particularly affected, raising concerns about the broader implications for non-oil trade.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Recent threats from the US to impose sanctions on financial institutions conducting business with Russia have reverberated through Turkish-Russian trade, causing disruptions and delays in payments for imported oil and Turkish exports, exclusive insights obtained by Reuters indicate.

Recent threats from the US to impose sanctions on financial institutions conducting business with Russia have reverberated through Turkish-Russian trade, causing disruptions and delays in payments for imported oil and Turkish exports, exclusive insights obtained by Reuters indicate. This is based on a Reuters report. The US executive order, issued in December, has cast a shadow over energy transactions between Turkey and Russia, complicating payments for Russian crude oil and hampering the smooth flow of Turkish exports, according to sources cited in the report. These sanctions, while targeting Russia's revenue streams, have inadvertently affected the intricate web of financial transactions between the two nations, with Turkish banks tightening compliance measures with Russian clients. Turkish banks, under increasing scrutiny due to the threat of sanctions, have adopted a cautious approach, leading to delays in payments to Russian oil exporters, causing disruptions in the energy supply chain. Sources reveal that payments have been stalled for weeks, highlighting the growing complexity of conducting financial transactions amid geopolitical tensions. Despite Ankara's opposition to Western sanctions on Moscow, Turkish banks have been compelled to review their dealings with Russian clients, underlining the precarious balance Turkey seeks to maintain in its diplomatic relations. The Turkish Treasury and banking watchdog have refrained from commenting on the issue, while Washington continues to exert pressure on Turkish institutions to comply with sanctions. Russian and Turkish officials have acknowledged the challenges posed by the sanctions, with the Kremlin expressing awareness of the tightening regulations imposed by Turkish banks. Meanwhile, a senior US State Department official spoke on the importance of foreign financial institutions adhering to sanctions and reiterated ongoing discussions with Turkish counterparts. Preliminary trade data reveals a significant decline in Turkish exports to Russia, signalling the initial impact of the sanctions on bilateral trade. Machinery exports have been particularly affected, raising concerns about the broader implications for non-oil trade. (With inputs from Reuters)

Turkey-Russia trade suffers as US sanctions loom, insights reveal

Turkey's parliament has approved Sweden's NATO membership bid after more than four hours of debates. Turkish lawmakers ratified Sweden's accession protocol by 287 votes to 55 votes now this ends the 20 month long delay that had frustrated Turkey's Western allies.

Sweden finally overcomes NATO roadblock as Turkish Parliament approves NATO bid

US Secretary of State Antony Blinken has arrived in Turkey, his first stop in the week-long new West Asia trip. This is US' top diplomat's fourth crisis visit to the region amid escalating tensions.

US Secretary of State Antony Blinken in Turkiye in fresh West Asia trip

Sweden is now one step closer to joining NATO, this is after a lot of delay. Member Turkey is now moving ahead to ractify its bid to join its military alliance.

Sweden edges closer to joining NATO, Turkey objects Sweden's bid | World DNA | WION

Here we bring you a quick round-up of all the latest news and top headlines from all across the globe: 303 passengers predominantly Indians found themselves at the centre of a high-stakes legal showdown in France. The passengers detained by the French authorities are back in India. Out of 303, around 276 Indians are back in their country. Israeli PM Netanyahu heckled inside Parliament by families of hostages. Netanyahu visited Gaza strip on Monday. He has vowed to fight until Israel reaches its goals. Watch the video to know the latest headlines of the day!

Israel-Hamas war: Netanyahu heckled inside Parliament by families of hostages

Turkish authorities have detained 304 people suspected of having ties to militant group Islamic State that operates across 32 provinces, Interior Minister Ali Yerlikaya said on Friday. Most suspects were detained in 3 big cities-Istanbul, Ankara & Izmir. Watch to know more!

Turkey: 304 ISIS suspects detained in 32 provinces

Turkish authorities have detained 304 people suspected of having ties to militant group Islamic State that&nbsp;operates&nbsp;across 32 provinces, Interior Minister Ali Yerlikaya said on Friday.

The majority of the suspects were detained in&nbsp;Turkey's three biggest cities of Ankara, Istanbul and Izmir, Yerlikaya said&nbsp;Yerlikaya on social media platform X, formerly Twitter.&nbsp;He said the "Operation Heroes-34", was carried out simultaneously across the country.

Watch:&nbsp;Turkey proposes own connectivity project with Iraq

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"We will not allow any terrorists to open their eyes, for the peace and unity of our people. We will continue our battle with the intense efforts of our security forces," he said, sharing footage of the operations which showed police entering apartments and buildings and dragging suspects into vehicles.

Islamic State controlled one-third of Iraq and Syria at its 2014 peak. Though beaten back, it continues to wage insurgent attacks.

<a href="https://www.wionews.com/business-economy/turkey-saves-billions-on-russian-oil-amid-sanctions-boosting-imports-671228">Also read:&nbsp;Turkey saves billions on Russian oil amid sanctions, boosting imports</a>

It has conducted numerous attacks across Turkey, including on a nightclub in Istanbul on Jan. 1, 2017, in which 39 people were killed.

Authorities have ramped up operations against Islamic State and Kurdish militants in recent weeks, after Kurdish militants detonated a bomb near government buildings in Ankara on Oct 1.

Turkey regularly conducts operations at home and in northern Iraq on the Kurdistan Workers Party (PKK), which it regards as a terrorist organisation.

(With inputs from agencies)

Turkish authorities have detained 304 people suspected of having ties to militant group Islamic State that operates across 32 provinces, Interior Minister Ali Yerlikaya said on Friday.

Turkish authorities have detained 304 people suspected of having ties to militant group Islamic State that operates across 32 provinces, Interior Minister Ali Yerlikaya said on Friday. The majority of the suspects were detained in Turkey's three biggest cities of Ankara, Istanbul and Izmir, Yerlikaya said Yerlikaya on social media platform X, formerly Twitter. He said the "Operation Heroes-34", was carried out simultaneously across the country. Watch: Turkey proposes own connectivity project with Iraq × "We will not allow any terrorists to open their eyes, for the peace and unity of our people. We will continue our battle with the intense efforts of our security forces," he said, sharing footage of the operations which showed police entering apartments and buildings and dragging suspects into vehicles. Islamic State controlled one-third of Iraq and Syria at its 2014 peak. Though beaten back, it continues to wage insurgent attacks. Also read: Turkey saves billions on Russian oil amid sanctions, boosting imports It has conducted numerous attacks across Turkey, including on a nightclub in Istanbul on Jan. 1, 2017, in which 39 people were killed. Authorities have ramped up operations against Islamic State and Kurdish militants in recent weeks, after Kurdish militants detonated a bomb near government buildings in Ankara on Oct 1. Turkey regularly conducts operations at home and in northern Iraq on the Kurdistan Workers Party (PKK), which it regards as a terrorist organisation. (With inputs from agencies)

Turkey: 304 people arrested over suspected ties to Islamic State

Turkish President Recep Tayyip Erdogan has stoked a debate in the country's political circles by calling for a new constitution in order to resolve clash between country's top courts. With his comments, Erdogan has waded into the judicial crisis.

Erdogan calls for new constitution in Turkey after legal crisis

Turkey's main opposition Republican People's Party (CHP) on Sunday elected Ozgur Ozel as its new leader, ending a 13-year term for incumbent Kemal Kilicdaroglu, as the country gears up for local elections next March.

Ozel, 49, has been serving as the CHP's deputy parliamentary group chairman since 2015 and has been a lawmaker since 2011. He announced his candidacy&nbsp;in September, after Kilicdaroglu and the CHP's painful defeat to President Tayyip Erdogan and his ruling political alliance in May presidential and general elections.

Ozel, a pharmacist by trade, received 812 of 1,366 possible votes at a tense, hours-long party congress in Ankara that took two rounds.

"This is the greatest honour of my life," Ozel said after the results were announced, while thanking Kilicdaroglu for his work at the party. "We are embarking on the road for local election victory," he added.

"We have believed in turning hopelessness into hope, we are hopeful," Ozel said, surrounded by applauding party members and standing alongside Istanbul Mayor Ekrem Imamoglu.

Imamoglu supported Ozel in a push for change at the CHP that has long been bogged down by in-fighting. After winning the 2019 municipal elections in Istanbul and ending Erdogan's years-long hold over the city, Imamoglu was seen as a potential new leader for the party and challenger for the presidency.

However, Kilicdaroglu chose to run himself against Erdogan in the May elections, despite several previous losses. After the vote, he came under fire for refusing to step down as the leader of the CHP, established by modern Turkey's founder Mustafa Kemal Ataturk.

<h2 data-testid="Heading">Turning point</h2>

"I carried our Great Leader Ataturk's legacy with honour until today," Kilicdaroglu said on social messaging platform X after the results, and congratulated Ozel. "And today, with the decision our congress delegates made, I say goodbye to the post of chairman."

Under his 13-year term, the CHP failed to surpass a historic ceiling of 25% nationwide support. On Sunday, Kilicdaroglu opted to take the vote to a second round after Ozel failed to secure a majority in the first round, despite calls from party members to withdraw from the race.

Analysts say Kilicdaroglu's refusal to step down or withdraw from the race had hurt his legacy. Ozer Sencar, head of pollster Metropoll, said on X that Ozel's victory could alter the trend of depoliticisation in Turkey following the May elections.

"The Ozel-Imamoglu union could be a very important turning point in the country's politics," Sencar said.

Ozel will now lead the CHP into local elections on March 31, where the party hopes to keep hold of the key municipalities it won in 2019, including the capital Ankara, Turkey's biggest city Istanbul, and other major cities.

Turkey's main opposition Republican People's Party (CHP) on Sunday elected Ozgur Ozel as its new leader, ending a 13-year term for incumbent Kemal Kilicdaroglu, as the country gears up for local elections next March.

Turkey's main opposition Republican People's Party (CHP) on Sunday elected Ozgur Ozel as its new leader, ending a 13-year term for incumbent Kemal Kilicdaroglu, as the country gears up for local elections next March. Ozel, 49, has been serving as the CHP's deputy parliamentary group chairman since 2015 and has been a lawmaker since 2011. He announced his candidacy in September, after Kilicdaroglu and the CHP's painful defeat to President Tayyip Erdogan and his ruling political alliance in May presidential and general elections. Ozel, a pharmacist by trade, received 812 of 1,366 possible votes at a tense, hours-long party congress in Ankara that took two rounds. "This is the greatest honour of my life," Ozel said after the results were announced, while thanking Kilicdaroglu for his work at the party. "We are embarking on the road for local election victory," he added. "We have believed in turning hopelessness into hope, we are hopeful," Ozel said, surrounded by applauding party members and standing alongside Istanbul Mayor Ekrem Imamoglu. Imamoglu supported Ozel in a push for change at the CHP that has long been bogged down by in-fighting. After winning the 2019 municipal elections in Istanbul and ending Erdogan's years-long hold over the city, Imamoglu was seen as a potential new leader for the party and challenger for the presidency. However, Kilicdaroglu chose to run himself against Erdogan in the May elections, despite several previous losses. After the vote, he came under fire for refusing to step down as the leader of the CHP, established by modern Turkey's founder Mustafa Kemal Ataturk. Turning point "I carried our Great Leader Ataturk's legacy with honour until today," Kilicdaroglu said on social messaging platform X after the results, and congratulated Ozel. "And today, with the decision our congress delegates made, I say goodbye to the post of chairman." Under his 13-year term, the CHP failed to surpass a historic ceiling of 25% nationwide support. On Sunday, Kilicdaroglu opted to take the vote to a second round after Ozel failed to secure a majority in the first round, despite calls from party members to withdraw from the race. Analysts say Kilicdaroglu's refusal to step down or withdraw from the race had hurt his legacy. Ozer Sencar, head of pollster Metropoll, said on X that Ozel's victory could alter the trend of depoliticisation in Turkey following the May elections. "The Ozel-Imamoglu union could be a very important turning point in the country's politics," Sencar said. Ozel will now lead the CHP into local elections on March 31, where the party hopes to keep hold of the key municipalities it won in 2019, including the capital Ankara, Turkey's biggest city Istanbul, and other major cities.

Turkey's main opposition elects Ozgur Ozel as new leader in run-up to local elections

According to the World Health Organization, India has about 35 million stray dogs. A spate of recent dog attacks has turned the focus on the condition of strays. The country lacks animal healthcare and control measures. Adopting strays can be one way of reducing the animal-human conflict. Recently a female street dog named Jaya from Varanasi got adopted by a Dutch tourist, Meral Bontenbe and it took her 6 months to get Jaya an animal companion passport. Here is the heartwarming story.

From Varanasi to Amsterdam: the journey of a street dog

Turkish President's claim that Hamas is not a terrorist organisation sparks 7% fall in Istanbul benchmark.

Turkish stocks tumble after Erdogan steps up Israel criticism

Archaeologists in Turkey have made a discovery, unearthing what they believe could be the remains of a vessel resembling Noah's Ark.

This&nbsp;find was the result of extensive excavation conducted by the Mount Ararat and Noah's Ark Research Team, a collaboration involving three Turkish and American universities.

Their project, which commenced in 2021, aimed to explore the geological formations in the region and reveal insights into ancient history, according to Turkish newspaper Hürriyet.

The heart of this discovery lies in the Durupinar formation, situated in the Doğubayazıt district of Ağrı, Turkey, located less than two miles from the Iran-Turkey border.

The Durupinar formation is a 538-foot geographical feature primarily composed of limonite. It is locally believed by some to be the remnants of Noah's Ark, immortalized in religious and legendary narratives.

Noah's Ark is a well-known legend that transcends religious boundaries. According to&nbsp;legend, Noah, guided by divine instruction, constructed a colossal ark to save two of every animal species from a cataclysmic flood that submerged the Earth.

In the Book of Genesis, it was reported that the ark came to rest on the mountains of Ararat, which now lie in eastern Turkey.

<a href="https://www.wionews.com/science/supermassive-black-hole-blasts-570-light-year-long-twisted-jet-of-plasma-652650">Also read |&nbsp;Supermassive black hole blasts 570-light-year-long twisted jet of plasma</a>

<h2>Archaeological insights</h2>

The research team's excavation efforts&nbsp;involved extracting aged rock and soil samples from the Durupinar formation.

Their findings revealed the presence of "clayey materials, marine materials, and seafood" within the geological formation.

These discoveries indicate human activities in the region dating back to the Chalcolithic period, spanning from 5500 to 3000 BC.

AICU Vice Rector Professor Faruk Kaya shared insights on the significance of their findings, noting the alignment of historical events. He pointed out that the flood associated with the biblical Noah occurred approximately 5,000 years ago. While the dating results are compelling, it is important to acknowledge that the presence of the vessel itself cannot be confirmed through dating alone. Further extensive research and analysis are needed to reveal conclusive evidence.

<a href="https://www.wionews.com/science/researchers-discover-first-proof-of-wild-female-chimpanzees-experiencing-menopause-652303">Also read |&nbsp;Researchers discover first proof of wild female chimpanzees experiencing menopause</a>

The legend of Noah's Ark holds profound significance in three major religions: Christianity, Judaism, and Islam. The discovery of potential archaeological remnants resembling the ark provides a unique opportunity to bridge ancient narratives with scientific exploration.&nbsp;

&nbsp;

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Archaeologists in Turkey have made a discovery, unearthing what they believe could be the remains of a vessel resembling Noah's Ark. This find was the result of extensive excavation conducted by the Mount Ararat and Noah's Ark Research Team, a collaboration involving three Turkish and American universities.

Archaeologists in Turkey have made a discovery, unearthing what they believe could be the remains of a vessel resembling Noah's Ark. This find was the result of extensive excavation conducted by the Mount Ararat and Noah's Ark Research Team, a collaboration involving three Turkish and American universities. Their project, which commenced in 2021, aimed to explore the geological formations in the region and reveal insights into ancient history, according to Turkish newspaper Hürriyet. The heart of this discovery lies in the Durupinar formation, situated in the Doğubayazıt district of Ağrı, Turkey, located less than two miles from the Iran-Turkey border. The Durupinar formation is a 538-foot geographical feature primarily composed of limonite. It is locally believed by some to be the remnants of Noah's Ark, immortalized in religious and legendary narratives. Noah's Ark is a well-known legend that transcends religious boundaries. According to legend, Noah, guided by divine instruction, constructed a colossal ark to save two of every animal species from a cataclysmic flood that submerged the Earth. In the Book of Genesis, it was reported that the ark came to rest on the mountains of Ararat, which now lie in eastern Turkey. Also read | Supermassive black hole blasts 570-light-year-long twisted jet of plasma Archaeological insights The research team's excavation efforts involved extracting aged rock and soil samples from the Durupinar formation. Their findings revealed the presence of "clayey materials, marine materials, and seafood" within the geological formation. These discoveries indicate human activities in the region dating back to the Chalcolithic period, spanning from 5500 to 3000 BC. AICU Vice Rector Professor Faruk Kaya shared insights on the significance of their findings, noting the alignment of historical events. He pointed out that the flood associated with the biblical Noah occurred approximately 5,000 years ago. While the dating results are compelling, it is important to acknowledge that the presence of the vessel itself cannot be confirmed through dating alone. Further extensive research and analysis are needed to reveal conclusive evidence. Also read | Researchers discover first proof of wild female chimpanzees experiencing menopause The legend of Noah's Ark holds profound significance in three major religions: Christianity, Judaism, and Islam. The discovery of potential archaeological remnants resembling the ark provides a unique opportunity to bridge ancient narratives with scientific exploration. WATCH WION LIVE HERE:

Is it Noah's Ark? Archaeologists find 5,000-year-old boat-shaped mound in Turkey

Turkish President Tayyip Erdogan told a massive pro-Palestinian rally in Istanbul that Israel was an occupier while repeating his stance about Hamas not being a terrorist organisation.

Israel is occupier: Erdogan at pro-Palestinian rally before Turkey's centenary

Turkiye's capital, Ankara is in the eye of a storm after a blast near the parliament this week. Turkiye retaliated to the ghastly act by PKK terrorists. Does this indicate escalating tensions with Kurdish outfits seeking autonomy in the region?

PKK terrorists bomb Ankara, Turkiye seeks retribution

A report by the European Union has stirred up emotions in Turkiye. Ankara is now contemplating parting ways with the European Body.

Turkiye secured EU pledge after backing Sweden's NATO bid

Turkish President Erdogan endorsed permanent seat for India at the UNSC after successful G20 Summit hosted by New Delhi. He also added that only five permanent UNSC members cannot be the combined voice of the whole world. Watch this video for all details.

Turkiye's Erdogan endorses permanent seat for India at the UNSC after successful G20 Summit 2023

Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn.

The unexpected move has resulted in the policy rate reaching its highest level since 2019 and the Turkish Lira is at its highest level since mid-July. Since June, the bank has increased the TRINT=ECI one-week repo rate by 1,650 basis points.

The policy committee reiterated that it would tighten “as much as needed in a timely and gradual manner” to lower inflation, which jumped to nearly 48 per cent last month. The committee included three members participating for the first time who are viewed as having hawkish sway.

After years of unconventional policies under President Tayyip Erdogan, analysts said the shift was the clearest one yet toward more conventional measures and could help control inflation.

In the days leading up to the policy announcement, as well as in previous weeks, the lira experienced nearly daily new all-time lows. But it then increased by more than three per cent in relation to the dollar and peaked at 26.41 at 12:05 GMT.

According to Tradeweb data, the price of the government’s dollar-denominated bonds increased by more than two cents, while Turkish bank stocks increased by almost 10 per cent, supporting the larger Istanbul Stock Exchange.

A Reuters poll of analysts found that they anticipated a median increase of 250 basis points from the previous 17.5 per cent, with some even anticipating a more dovish decision given the bank’s performance over the previous two months.

As per the poll conducted in the last week, the interest rates were not anticipated to rise to 25 per cent until the end of the year.

The rate hike “sends a very strong signal that the (bank) is determined to rein in inflation and the initial market response is very positive,” Reuters quoted Piotr Matys, a senior FX analyst at In Touch Capital Markets, as saying.&nbsp;

He also said, “at least some investors will be wondering whether the 750bps hike has been approved by President Erdogan.”

(With inputs from Reuters)

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Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn.

Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn. The unexpected move has resulted in the policy rate reaching its highest level since 2019 and the Turkish Lira is at its highest level since mid-July. Since June, the bank has increased the TRINT=ECI one-week repo rate by 1,650 basis points. The policy committee reiterated that it would tighten “as much as needed in a timely and gradual manner” to lower inflation, which jumped to nearly 48 per cent last month. The committee included three members participating for the first time who are viewed as having hawkish sway. After years of unconventional policies under President Tayyip Erdogan, analysts said the shift was the clearest one yet toward more conventional measures and could help control inflation. In the days leading up to the policy announcement, as well as in previous weeks, the lira experienced nearly daily new all-time lows. But it then increased by more than three per cent in relation to the dollar and peaked at 26.41 at 12:05 GMT. According to Tradeweb data, the price of the government’s dollar-denominated bonds increased by more than two cents, while Turkish bank stocks increased by almost 10 per cent, supporting the larger Istanbul Stock Exchange. A Reuters poll of analysts found that they anticipated a median increase of 250 basis points from the previous 17.5 per cent, with some even anticipating a more dovish decision given the bank’s performance over the previous two months. As per the poll conducted in the last week, the interest rates were not anticipated to rise to 25 per cent until the end of the year. The rate hike “sends a very strong signal that the (bank) is determined to rein in inflation and the initial market response is very positive,” Reuters quoted Piotr Matys, a senior FX analyst at In Touch Capital Markets, as saying. He also said, “at least some investors will be wondering whether the 750bps hike has been approved by President Erdogan.” (With inputs from Reuters) WATCH WION LIVE HERE

Turkish lira shoots up after a 25 per cent rate hike

Turkiye and Albania continue to battle wildfires. Officials in Turkiye evacuate at least 9 villages, while Albanian police on Monday, arrested suspected arsonists who started a fire in woodlands.

Wildfire engulfs large swathes of Turkiye & Albania

Environmental campaigners in southwest Turkey are protesting in a forest against the cutting of trees to make way for the expansion of a coal mine. Clashes erupted between villagers protesting deforestation in Turkey's Mugla province and security forces last week.

Indo-French satellite TRISHNA to be launched in 2025: French Space Agency Director to WION

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