Turkey tourism income slumps after attacks, coup

Turkish tourism revenue fell 29.7 percent in 2016, dropping to $22.1 billion, AFP reports. 31 million visitors came to Turkey in 2016, whereas about 42 million visitors came in 2015. The tourism sector accounts for about 5 percent of Turkey’s GDP.   Read...

Putin-Orban axis assails the EU

An EU Observer piece suggests Trump’s inauguration has empowered Hungarian PM Viktor Orban to openly cooperate with Putin and promote far-right movements in Europe. Putin is due to arrive in Hungary on Thursday, and Orban is itching for expanded energy deals...

Deutsche Bank fined on Russia money laundering

Deutsche Bank has agreed to pay US and UK authorities a total of more than $500 million euros as penalties for laundering billions of euros of shady Russian money, EU Observer reports. The Department of Financial Services in New York is accusing Deutsche Bank of...

Fitch and S&P give Turkey double whammy

Standard & Poor’s lowered its outlook for Turkey from stable to negative, while Fitch slashed Turkey’s long-term foreign currency issuer default rating from BBB- to BB+, stripping the country of its last remaining investment grade, bne IntelliNews...