Peaceful Protests continue in Turkey…
Protesters have been demonstrating against the government across Turkey since May 31, when police used excessive force to break up a demonstration against a park development plan in Istanbul’s central Taksim district.
The unrest is scaring people off from investing in Turkey, according to Bloomberg Businessweek. “The market is under the crossfire,” Bulent Topbas, a fund manager at Strateji Menkul Degerler AS, told Bloomberg Businessweek. He estimates that there have been capital outflows of “at least $1 billion” over the past week.
Though Deputy Prime Minister Bulent Arinc apologized for the excessive use of police force that sparked the initial backlash, the protesters were joined by the country’s trade unions on Tuesday night as hundreds of thousands continued to take to the streets in Istanbul and other cities throughout Turkey.
The protesters have drafted demands that include the halting of the Taksim Square redevelopment plan, banning tear gas use by police, releasing detained protesters, and lifting restrictions on freedom of expression and assembly in the country.
…the police chiefs in cities where police brutality was reported, including Istanbul, Ankara, and Izmir, be removed from their posts.
In Izmir, police have arrested 25 people for spreading false information about the protests, and have orders to detain at least 13 others.
Turkey protests reveal Economic fault-lines
Eda Ozden, an employee at a travel agency that organises events for Fortune 500 companies, said on top of the recent cancellations for the medical event, clients have called seeking advice on what to do about events booked in two years’ time.
“That’s very bad. The impact is wide – from hotels, bus and taxi companies, restaurants,” she told the BBC.
Spooked by the unfolding anti-government protests across major cities in Turkey, thousands of foreign businessmen and women invited to attend a medical conference in Istanbul this month cancelled at the last minute.
BBC reports http://www.bbc.co.uk/news/business-22778768