Norway Wealth Fund Says It’s a Victim of Turkey’s Funds Crisis
Norway’s sovereign wealth fund said it’s among the investors that have been hurt by Turkey’s fund crisis, and has taken steps to review its stock holdings in the country.
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Norway’s sovereign wealth fund said it’s among the investors that have been hurt by Turkey’s fund crisis, and has taken steps to review its stock holdings in the country.
Zorlu Enerji, the power producer and distributor owned by one of Turkey’s largest conglomerates, will miss a coupon payment due this week on its $1.1 billion bond, according to people familiar with the matter.
Turkey’s market regulator has shut down three brokerages that ran funds now set to be liquidated, throwing hundreds of jobs in doubt and adding to the turmoil in the industry.
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The state takeover of Halk TV, one of Turkey’s most widely watched news channels, represents far more than an isolated confrontation between the authorities and an independent broadcaster. For Milena Buyum, Amnesty International’s Turkey campaigner, it is part of a broader erosion of media pluralism, characterized by the appointment of state trustees, the detention of journalists and mounting restrictions on independent digital platforms. Buyum describes the intervention as a "brutal attack on media freedom in Turkey,” framing it within a sustained crackdown on independent journalism that has intensified since March 2025.
Turkey’s market regulator chief, Mahmut Sutcu, stepped down on Monday during the fallout of a fund crisis that’s upended the country’s markets.
The crisis roiling Turkey’s investment industry may be spilling into its fast-growing corporate bond market, potentially crimping smaller companies’ access to financing.
MSCI Inc. is stepping up scrutiny of Turkey’s equity market following a crisis in the country’s fund industry, freezing some index changes and warning that its emerging-market status could eventually be at risk.
Protests have taken place over the rules which have seen pupils wearing hijabs turned away from schools.
Police raided Turkey's most-watched news channel, Halk TV, early Wednesday, halting broadcasts and installing a government-appointed administrator in the latest move against pro-opposition media. Halk TV chairman Cafer Mahiroglu condemned the move against the broadcaster's Istanbul headquarters as "a dark day for Turkey", and criticism poured in from the opposition and rights groups.
Turkish authorities appointed a government trustee to run popular broadcaster Halk TV on Wednesday after police raided its headquarters, halting live broadcasts and arresting 11 people. Halk chairman Cafer Mahirogluin denounced "a dark day for Turkey", adding that seven of his family members were among those detained.
FTSE Russell maintained Turkey’s status as an advanced emerging market, a reprieve for the country after a fund crisis last month that sent stock prices plunging.
Yemeni forces claim to seize key positions near waterway as Pakistani, Saudi and Turkish officials to meet.
BofA Securities Inc said a large share of Turkish fund outflows stemming from a rout in September moved into bank deposits.
Turkish inflation continued to slow in September, raising the prospect of an interest rate cut later this month to help ease liquidity strains stemming from a domestic funds crisis.
Turkish football fans displayed pro-Palestinian tifos and banners.
Individuals and firms in China, Pakistan, Turkiye, Iran and Saudi Arabia sanctioned as part of a pressure campaign.
Turkish comedian Deniz Goktas was released from prison on Monday after spending nearly three months in pretrial detention over remarks in a stand-up show that went viral on YouTube.