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World Business Report: First broadcast 2019/06/24 00:06 GMT: Istanbul mayoral election: Erdogan's ruling AKP loses again

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Istanbul mayoral election: Erdogan's ruling AKP loses again

First broadcast 2019/06/24 00:06 GMT

First broadcast 2019/06/24 00:06 GMT: Istanbul mayoral election: Erdogan's ruling AKP loses again

BBC World Service - World Business Report, Istanbul mayoral election: Erdogan's ruling AKP loses again

Turkey's ruling party AKP has lost a rerun of Istanbul's mayoral election

Turkey's ruling party AKP has lost control of Istanbul after a rerun of the city's mayoral election, latest results show.

Turkey's ruling party has lost control of Istanbul after a rerun of the city's mayoral election, latest results show. The candidate for the main opposition party, Ekrem Imamoglu, won 54% of the vote with nearly all ballots counted. He won a surprise victory in March which was annulled after the ruling AK party complained of irregularities. The BBC's Cagil Kasapoglu reports on the mood in Istanbul. Then, Jason Tuvey of Capital Economics appraises what the election means for Turkey's economy overall, and Olivier Ponti of travel industry consultancy ForwardKeys explains why, despite a few years of economic and political turmoil, Turkey remains a major growing tourist destination.

Also in the show, the independent economist Michael Hughes questions central banks' rate-setting policies in the next few years. US Secretary of State Mike Pompeo will visit India to smooth out relations between the two countries over trade and immigration, the BBC's Joe Miller has the story from New Delhi. And with Facebook's plans for a new, asset-backed cryptocurrency, the BBC's Rob Young looks into so-called Stablecoins.

(Photo: Ekrem Imamoglu of the Republican People’s Party (CHP) gives a victory speech after winning the Istanbul Mayoral rerun election, 23 June 2019. Credit: Chris McGrath/Getty Images)

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First broadcast 2019/06/24 00:06 GMT: Istanbul mayoral election: Erdogan's ruling AKP loses again

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