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Turkey announces surprise tax hike to bolster budget, dampens lira demand: report

Turkey raised withholding taxes on lira-denominated deposits and mutual funds, tightening its grip on household savings as it seeks fresh revenue to ease the...
Business

Millions in Turkey get low salary and pension hikes based on disputed inflation figure

Millions of retirees and civil servants in Turkey are set to receive salary and pension increases that many say fall short of meeting the...
Business

Rosatom in talks to sell nearly half of Akkuyu nuclear plant stake: report

Russia’s state-owned nuclear power company Rosatom Corp. is in talks to sell a 49 percent stake in the $25 billion power plant it’s building...
Business

Turkey’s exports to Israel hit $393.7 mln in early 2025 despite official embargo

Turkey exported nearly $394 million worth of goods to Israel in the first five months of 2025, despite the government’s announcement last year of...
Business

Turkey’s unemployment rate drops to 8.4 percent in May: TurkStat

Turkey’s unemployment rate dropped to 8.4 percent in May, a 0.2 percentage point decline from April, the state-run Anadolu news agency reported, citing data...
Business

Turkish gov’t signals no midyear minimum wage hike amid economic woes: report

Turkey’s government plans to skip a mid-year increase in the minimum wage, people with knowledge of the matter told Bloomberg, resisting political pressure to...
Business

Ankara steps up efforts against crypto-linked money laundering: report

Turkey is taking steps to prevent the laundering of criminal proceeds from illegal betting and fraud through cryptocurrency transactions, Reuters reported, citing Finance Minister...
Business

European development bank executive to visit Turkey for meetings in quake-hit cities

Matteo Patrone, vice president for banking at the European Bank for Reconstruction and Development (EBRD), will visit Turkey June 22-26, with scheduled stops in...
Business

Business closures up 12 percent in Turkey in first five months of 2025

The number of companies that shut down in Turkey rose by 12 percent in the first five months of 2025 compared to the same...
Business

Turkish motor vehicle production declined by 3 percent year-on-year

Turkey’s motor vehicle production fell by 3 percent in the first five months of 2025 compared to the same period last year, driven by...
Business

Turkey raises strait transit fees for vessels without port calls by 15 percent

Turkey will raise the fees charged to foreign ships transiting the Turkish Straits without making a port call by 15 percent starting July 1,...
Business

Turkey, China renew $4.8 billion currency swap deal, set up yuan clearing system

Turkey and China have renewed a longstanding currency swap deal worth nearly $5 billion and agreed to establish a yuan clearing system in Turkey,...
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