Turkey

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The Turkish Parliament began meeting on July 29th to set a date for early elections and to consider reforms that need to be passed if Ankara is to begin membership talks with the European Union.
The way forward from two months of uncertainty over a hamstrung Turkish government and a stifling political impasse over European Union-demanded reforms seems clearer, with the government’s announcement on July 16th that early polls would be held on November 3rd.
Dubai’s largest aluminium producer DUBAL signed on July 24th a Term Loan Facility with Citibank, a member of Citigroup, worth a reported AED 734m ($200m) to fund a major plant upgrade.
Prime Minister Bulent Ecevit removed his longstanding opposition to early elections, with the coalition announcing on July 16th that they had agreed to hold polls on November 3rd.
The Turkish government was reeling after a key member in the fractious three-party coalition quit on July 8th, followed by a mass defection of over 30 deputies from Prime Minister Bulent Ecevit’s Democratic Left Party (DSP).
Turkish Prime Minister Bulent Ecevit emerged from a much-anticipated medical check on June 26th insisting that a slew of nagging ailments would not keep him from returning to work in a few weeks time.

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