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Turkey could allocate funds in 2020 budget for Syria safe zone housing: official

Turkey could allocate funds in its 2020 budget for building housing for refugees in a “safe zone” it wants to set up in northern Syria after...
Business

Turkey’s youth unemployment climbs above 27 percent in July

The unemployment rate among 15-24-year-olds in Turkey has reached a record 27.1 percent, rising 7.2 percentage points year-on-year in July, according to the Turkish Statistical Institute...
Business

İstanbul court prohibits access to Uber in Turkey: report

An İstanbul Commercial Court of First Instance on Wednesday ruled for the prohibition of online access to global ridesharing company Uber for engaging in “unfair competition”...
Business

Romania initiates new talks with Volkswagen on car plant after Turkey decision delayed

Romania initiated new talks with Volkswagen on Tuesday after the carmaker announced it had postponed a final decision on whether to build a new plant in...
Business

Turkey’s Halkbank says US charges on evading Iran sanctions ‘political’

Turkey’s Halkbank said on Wednesday that US charges against it amount to an escalation of Washington’s sanctions on Ankara over its military incursion in Syria, while...
Business

Turkish bank indicted in US for participation in Iran sanctions evasion scheme

Federal prosecutors in New York on Tuesday charged Turkey’s Halkbank with taking part in a multibillion-dollar scheme to evade US sanctions on Iran, Reuters reported. The charges...
Business

Turkish lira rises as markets view Trump tariffs as ‘window dressing’

Turkish assets are breathing a sigh of relief after tariffs threatened by US President Donald Trump over Ankara’s military offensive in Syria came up less serious...
Business

Volkswagen postpones final decision on Turkey investment due to Syria incursion

Volkswagen has postponed the final decision whether to build a car plant in Turkey, the company said, amid international criticism of the country’s military operation in...
Business

Turkish markets tumble under threat of US sanctions: report

The lira broke past the 5.93-per-dollar mark on Monday even as lenders sold more than $1 billion worth of foreign exchange, according to two people familiar with...
Business

Moody’s disputes Turkey’s growth expectations unveiled in new economic program

Global credit rating agency Moody’s says Turkey’s economic program growth targets risk increasing macro imbalances, adding that a 5 percent growth target for next year is...
Business

Turkey considers raising income tax for top earners: report

Turkey is planning to raise the income tax rate for top-bracket earners to 45 percent from the current level of 35 percent, according to a person...
Business

Turkey’s state-owned Halkbank deemed weakest on Fitch stress test

Fitch Ratings on Thursday said Turkey’s three major state-owned banks are less equipped to deal with a potential deterioration in asset quality than their privately owned peers,...
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