Allianz Global Investors is sticking with its bet on Turkey’s longest-maturity local debt, making it an outlier among foreign investors who’ve unloaded lira bonds at the fastest pace in a decade.

Turkey's competition board said on Saturday it had fined Frito Lay Gida 1.3 billion lira ($35.90 million) over violation of the country's competition law.

The value of the Turkish lira shot up by four percent. Within just four months in office, Ağbal managed to put out the fires surrounding the fragile Turkish economy. During his tenure, the lira ...