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Turkey’s inflation rises to 69.8 percent in April

Turkey's rate of annual inflation rose to 69.8 percent in April despite interest rate hikes aimed at taming soaring consumer prices, Agence France-Presse reported,...

US pressure on Turkey leads to drop in Turkey’s trade with Russia: report

Turkish exports to Russia tumbled at the start of 2024, suggesting that a US crackdown on trade with goods Moscow uses in its war...

Struggling Turkish grocery app Getir exits US, Europe

Struggling Turkish grocery delivery app Getir said on Monday it was withdrawing from the United States and its remaining locations in Europe to focus...

Islamic Development Bank to provide $6.3 bln to finance projects in Turkey

The Islamic Development Bank Group (IsDB) will provide $6.3 billion for projects in Turkey over the next two years, the state-run Anadolu news agency...

Turkey eyes multibillion-dollar LNG deal with ExxonMobil: report

Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas as Ankara seeks to curb its...

Turkey’s central bank holds key interest rate steady at 50 percent

Turkey's central bank held its key interest rate steady on Thursday but warned it could hike it again as the country's soaring inflation remains...

Turkish, Brazilian central banks sign MOU for enhanced cooperation

Turkey's central bank said on Saturday it had signed a memorandum of understanding (MOU) with Brazil's central bank to lay "the groundwork for enhanced...

Food inflation in Turkey 13 times higher than OECD average in February

Turkey’s food inflation in February was 71.1 percent, a figure more than 13 times higher than the average of 38 Organization for Economic Cooperation...

Turkey’s finance minister, central bank governor travel to US to attend IMF-World Bank meetings

Turkish Finance Minister Mehmet Şimşek and Central Bank Governor Fatih Karahan are traveling to the United States on Tuesday to attend the spring meetings...

Turkish central bank’s $25 billion loss blamed on costly FX-protected deposits: report

The Turkish central bank incurred a loss of 818.2 billion lira ($25 billion) in 2023, which marked a significant change from previous years of...

World Bank doubles Turkey’s exposure to $35 billion: minister

The World Bank has doubled its exposure to Turkey to $35 billion to help stabilize the Middle East’s largest non-oil economy, Treasury and Finance...

Iraq repairing pipeline to supply oil to Turkey: report

Baghdad is repairing a pipeline that could allow it to send 350,000 barrels per day to Turkey by the end of the month, Reuters...

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