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Turkey will lower interest rates to single digits, Erdoğan says

President Recep Tayyip Erdoğan has said Turkey will soon lower interest rates to single digits and that inflation will follow suit, Bloomberg reported. “We are lowering and...
Business

Turkey stands to lose $3 bln in trade under no-deal Brexit, says trade minister

Turkey’s exports to the UK are expected to drop by up to $3 billion in the event of a no-deal Brexit, Turkish Trade Minister Ruhsar Pekcan...
Business

Contraction in Turkish construction sector to continue despite slight improvement: report

The outlook will remain negative for Turkey’s construction sector in the coming quarters even though new construction orders saw a month-on-month increase in July and August, according...
Business

Czech PM says Volkswagen to make large investment in Turkey

German carmaker Volkswagen is making a large investment in Turkey, Czech Prime Minister Andrej Babis said on Tuesday, according to Reuters. “We have heard that Volkswagen is...
Business

Automotive sales drop more than 45 pct in first 8 months: report

Automobile and light commercial vehicle sales in Turkey dropped more than 45 percent in the first eight months over the same period last year, according to...
Business

Turkey’s inflation drops to 15-month low in August

Turkey’s inflation decreased to 15.01 percent year-on-year in August, the lowest point in the last 15 months, according to the Turkish Statistical Institute (TurkStat). In July it...
Business

Turkish economy contracted less than expected in Q2: report

The Turkish economy contracted less than expected in the second quarter, 1.5 percent year-on-year, as it looks to shake off the effects of a recession brought...
Business

Turkey’s foreign trade deficit shrinks by 46.9 pct year-on-year in July

Turkey's foreign trade deficit narrowed 46.9 percent year-on-year in July to $3.192 billion, data from the Turkish Statistical Institute (TurkStat) showed on Thursday, Reuters reported. Turkey's exports...
Business

Turkey’s annual inflation expected to decrease in August: report

Turkey's annual inflation is expected to slip to 15.51 percent in August thanks to the "base effect" measured against last year's spike, while monthly inflation is expected...
Business

Turkish economic confidence improves in August

Turkey’s economic confidence index rose to 87.1 points, a 7.9 percent increase over 80.7 in July, according to the Turkish Statistical Institute (TurkStat), the state-run Anadolu news...
Business

Syrian entrepreneurs want to stay in Turkey even after the war is over

A recent study conducted by the Economic Policy Research Foundation of Turkey (TEPAV) in cooperation with the European Bank for Reconstruction and Development (EBRD) shows that Syrian...
Business

Qatar ranks first in foreign investment in Turkey: report

Qatar ranked first among foreign investors in Turkey in the January to June 2019 period, according to data released by the Turkish Economic Policy Research Foundation...
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