Erdogan Support Slides in Jan, Turkish Cyprus Holds Snap Elections

LOCAL NEWS

• Survey by Istanbul Economics research shows the ruling People’s alliance would fail to gain enough support for Erdogan to win in the event of an early election – receiving only 40.5% of the vote (below the 50%+1 threshold). Support for Erdogan stood between 37.5-40%
• Turkish Republic of Norther Cyprus held snap elections on Sunday four years after the prior polls. 403 candidates from 8 parties are vying for 50 seats in parliament.
  • The ruling UBP party is ahead with 39.82% with 70.64% of the vote counted, followed by the CTP (31.46%) – increasing the party’s support by almost 50%. Voter turnout has been low at 55.43%
• Turkey Banking regulator advises banks against issuing dividends, given their low cash buffers. The regulator has yet to send a formal, written notice banning dividend payments following last year’s 10% dividend
• Defense Min Akar slams US support for the YPG in Syria, but says he hopes this issue can be resolved with dialogue- highlighting the possibility of F35 talks in the near future.
  • Calls on the US to stop providing the YPG with arms as soon as possible for the sake of the alliance.