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Top Emerging-Market Debt Trade Hinges on Turkish Currency Truce

JPMorgan Blames Turkey s Volatile Lira for Investor Misgivings

(Bloomberg) Try refreshing your browser, or JPMorgan Blames Turkey s Volatile Lira for Investor Misgivings Back to video The lira’s best month this year may only serve to highlight the volatility that still haunts Turkish assets. For JPMorgan Chase & Co.’s top executive in Turkey, swings in the currency remain a key hurdle to convincing investors to buy into the appeal of local securities. Markets are also on alert for how price growth, already at a two-year high, performs in the months ahead, Mustafa Bagriacik, senior country officer for Turkey and Azerbaijan for the U.S. lender, said in an interview.

Top Turkish Bank Suffers System Outage, Sees No Cyber Attack

Top Turkish Bank Suffers System Outage, Sees No Cyber Attack People posted more than 57,000 times about the issue on Twitter, with many ridiculing the bank’s technical capabilities. Bloomberg | Jul 08, 2021 Asli Kandemir (Bloomberg)  Akbank TAS, Turkey’s second-largest lender by market value, said it will gradually restore operations after suffering widespread system outages since early Tuesday, which prompted it to accept a delay in payments owed by customers. Loan and credit card payments can be made a day later without accruing any interest because an issue in the bank’s mainframe computer was affecting all customer services, Akbank said in an emailed statement on Wednesday. It denied that the outages were the result of a cyber attack and said clients’ data haven’t been compromised.

Top Turkish Bank Suffers System Outage, Sees No Cyber Attack

Top Turkish Bank Suffers System Outage, Sees No Cyber Attack
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