ANKARA - These are some of the major headlines and their summaries in Turkish press on October 23, 2008. The Anadolu Agency does not verify these stories and does not vouch for their accuracy.
TURKIYE
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AGAINST CRISIS!
Sabanci Group is challenging against claims that the global economic crisis would hit Turkey. Guler Sabanci, the head of the group, said she had confidence in Turkey's future and gave the message that the group would go on with its investments. Sabanci laid the foundation of a natural gas conversion facility in Bandirma town with its Austrian partner. The group also started to build power plants in Adana and Kahramanmaras. The three energy power plants are worth 1.1 billion USD.
ERDOGAN: TURKEY IS THE SAFEST PORT FOR INVESTMENTS
Premier Recep Tayyip Erdogan spoke in the opening session of the 12th International Business Congress organized in Istanbul by the Independent Industrialists' & Businessmen's Association (MUSIAD). Erdogan said foreign investments would reach 15 billion USD despite negative developments in the world, and called on foreign businessmen to invest in Turkey. "Turkey is a safe port. We have infrastructure in every field. Turkey will be a springboard for our friends," Erdogan said.
ZAMAN
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NEW INSTITUTIONAL STRUCTURING FOR FIGTH AGAINST TERROR
Details have been revealed over a decision by Turkey's highest security body to make a new institutional arrangement in the fight against terrorism: The interior minister will be empowered as deputy premier and the Directorate General of Security will be transformed into an undersecretariat. A high board of internal security and an internal security secretariat general will be set up, which will have offices in Middle East and Europe.
DELOITTE CEO SAYS NO TURKISH BANK WILL BE AFFECTED BY GLOBAL CRISIS
International finance and accounting firm Deloitte's managing partner in Turkey Huseyin Gurer said Turkish banks would not be affected by a global economic turmoil. "No Turkish bank will be affected by the economic crisis including foreign ones," he said.
YENI SAFAK
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COURT CANNOT SET RULES ON CLOTHING
Hasim Kilic, the chief judge of the Constitutional Court, said that setting rules on clothing in university would contradict academic freedoms. "Universities are not military barracks. The court has gone far beyond the limits drawn up by the Constitution," Kilic said.
UNIVERSITY AMNESTY PASSED
The parliament adopted Wednesday the law that will enable around 800,000 students to return to universities. National Education Minister Huseyin Celik asked the students to make best use of this opportunity, and said, "we do not want any amnesty law to be brought up to the parliament again."
SUPER UNDERSECRETARY
A new era is beginning in fight against terrorism. A board will be set up for a more effective fight against terrorism and for coordination of units. The board will be comprised of representatives of the National Intelligence Organization (MIT), General Staff, Foreign Ministry and Justice Ministry. Also, a Security & Counter Terrorism Undersecretariat will be established. The intelligence, fight against terrorism, fight against trafficking and organized crimes units of the Security Department and Gendarmery will be under the authority of this undersecretariat. Also, the coast guard will be under the auspices of the undersecretariat.
VATAN
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TWO-YEAR LIMITLESS GUARANTEE FOR DEPOSITS
The government, which has said so far that Turkey is as strong as a rock, started to see how serious the threat is. Although it is not really necessary, it is getting prepared to take deposits under limitless guarantee in order to give a strong signal to markets. The limitless guarantee will be valid for two years, or till December 31, 2009 after it takes effect. This regulation is expected to be implemented together with the law that encourages people to bring their money in foreign countries back to Turkey. Actually, deposits up to 50,000 new Turkish liras (YTL) are under guarantee.
NEW STRUCTURE AGAINST TERRORISM
The Interior Ministry will be charged to coordinate fight against terrorism. The interior minister's authorization will be strengthened as the "deputy prime minister." A Supreme Board of Domestic Security and a general secretariat will be established to deal with security, economic, social, and psychological dimensions of fight against terrorism. The board and secretariat will produce policies to prevent people from joining the terrorist organization. They will prepare projects to re-socialize terrorists. They will open representations in Europe and regional countries against foreign links of the terrorist organization.
CUMHURIYET
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FOREIGNERS AFRAID, USD ON RECORD RISE
Foreign investors, who have rushed into developing countries including Turkey for five years, started to sell their stocks. The three-day loss of the new Turkish lira (YTL) was over 12 percent. One USD climbed from 1.48 to 1.6 YTL since the beginning of this week, and it was on a sharp rise and reached 1.66 YTL on Wednesday. After the evening statement of the Central Bank, the USD reached 1.69 YTL.
CENTRAL BANK SIGNALS FOR INTERVENTION IN FOREIGN EXCHANGE
The Monetary Policy Board of the Central Bank discussed the rise in the USD by keeping the borrowing interest rate constant. In its statement, the board said that all means would be used to intervene in the foreign exchange market if deemed necessary.
RADIKAL
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"PARLIAMENT'S LEGISLATIVE AUTHORITY RESTRICTED"
As Turkey's highest court released a report on why it annulled a constitutional amendment which would have allowed female students to wear headscarves in universities, the court's reasoning received criticism from the ruling Justice and Development (AK) Party, the Nationalist Movement Party (MHP) and scholars of law. Professor Burhan Kuzu from the AK Party said the verdict curbed parliament of its functions. Another scholar, Prof. Levent Koker, said the court made its verdict by evaluating the purpose of lawmakers who made the amendment.
TURKISH MARKETS BASHED
Effects of a global economic crisis were severely felt in Turkish markets on Wednesday as U.S. dollar skyrocketed up to as high as 1.64 against Turkish currency in just 37 days, marking a 31.2 percent surge. Turkey's main shares index dropped 11,409 points with a 30 percent loss in value. Interest rates soared to 22.32 percent from 18.87.
HURRIYET
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CONSTITUTIONAL COURT DRAWS FOUR RED LINES IN HEADSCARF DISPUTE
Turkey's Constitutional Court made public the reasoning of its verdict that annuls a constitutional amendment which would have allowed female students to wear headscarves in universities. The court said the amendment was an attempt to use religion as a tool for political motives, adding that it was against the principle of secularism. The court also said wearing a religious symbol could become a tool for pressure on people with different political views or different faith.
TURKISH BUSINESSMAN STABBED TO DEATH IN NEW YORK
A Turkish immigrant was stabbed to death after he parked his Mercedes-Benz SUV outside his house. Gokce Kurkcu, who owned a souvenir shop in Brooklyn, New York, was stabbed repeatedly. Police said his wallet and cell phone had not been taken. Homicide detectives interrogated Kurkcu's wife and another Turkish woman who was said to have involved in an affair with Kurkcu.
MILLIYET
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FOREIGNERS GOING AWAY, USD ON RISE
Foreigners are coming back from developing countries, and the sale of hedge funds is increasing. When one USD rose to 1.67 new Turkish liras (YTL), eyes were turned on the Central Bank of Turkey. The USD was up 10 percent in interbank market in the last three days. The rise in USD was 35 percent in a month. The USD is not only on the rise in Turkey, but it is also gaining value in Brazil, South Africa, Poland and Hungary. The reason of the rise in USD is the withdrawal of foreign investors from developing markets and the sale of hedge funds in recent weeks.
Turkey is one of the countries where hedge funds are on the rise due to its current accounts risk worth 50 billion USD. The USD demand of fund investors who want liquidity triggers rise in foreign exchange rates. Now, the eyes have been turned on the Central Bank of Turkey. Experts think that there should be an intervention in the market. Also, there are serious sales at the stock exchange. The Istanbul Stock Exchange (IMKB) closed Wednesday with a loss of 4.1 percent.
EVENTFUL FUNERAL IN DOGUBEYAZIT
The funeral for Ahmet Ozkan, who was shot in his heart during an illegal protest in Dogubeyazit, Agri, turned into a demonstration. The group chanted slogans, and stoned security forces when they were back from the graveyard. In a separate development, police intervened in a group of protestors in Adana. Also, a row occurred between security forces and demonstrators in Viransehir, Sanliurfa.
INVESTIGATION INTO AHMET TURK
Diyarbakir Chief Prosecutor's Office launched an investigation into Ahmet Turk, chairman of the Democratic Society Party (DTP), for his recent remarks. Turk had said, "the military intervention of 1980 caused political, social and cultural genocide for both Kurdish people and entire Turkey." Also, a probe has been launched into Emine Ayna, deputy chairperson of DTP.
SABAH
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HIGH COURT RELEASES REASONING FOR ITS HEADSCARF VERDICT
Constitutional Court made public its reasoning for the annulment of a constitutional amendment which would have allowed female students to wear headscarves in universities. Court's president, Hasim Kilic, and member Sacit Adali criticized the verdict, saying that it is "a judicial guardianship." Ergun Ozbudun, a professor on constitutional law, said the verdict was "an usurpation of authority."
TURKEY MOVES TO HOST WORLD WINE CONGRESS
Turkey has moved to host the World Wine and Vineyard Congress which will be held in 2012. Turkish Foreign Ministry has sent a letter of request to the International Organization of Wine to assign the country to host the the event.
(YMB-BRC-MS)