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Only modest recovery expected in Turkey’s economy for 2019: report

Turkey’s economy, which suffered a currency crisis last year, is still in the doldrums and only a modest recovery is expected, according to Dutch bank ABN...
Business

Turkey receives $1 billion in funds from China under swap agreement: report

Turkey received around $1 billion in funds from China in June under a swap agreement that dates back to 2012, two people with direct knowledge of...
Business

Turkey’s central bank reduces yearend inflation expectation

The Turkish Central Bank has decreased its forecast for yearend inflation from 15.01 percent to 14.42 percent while increasing its expectation for the value of country’s national...
Business

Turkey’s 12-month cumulative current account records first surplus in 17 years

Turkey's 12-month cumulative current account recorded a surplus in June for the first time in nearly 17 years, data from the central bank showed on Friday,...
Business

Turkey’s central bank dismisses chief economist, department managers: report

Turkey’s central bank has dismissed its chief economist, Hakan Kara, and some department managers, according to a document seen by Reuters, re-igniting concern about political interference...
Business

Lira reaches four-month high thanks to thaw in Turkey-US relations

The Turkish lira continued its winning run against peers on Thursday, firming to its strongest level since early April thanks to a thawing of Turkey-US relations...
Business

Canada-based firm denies Turkish protestors’ claims over planned gold mine: report

Canada-based Alamos Gold has prepaid for reforestation at its mine project in western Turkey, its chief executive told Reuters amid growing criticism, adding that it was...
Business

Turkey becomes world leader in tax on cigarettes

An increase in the special consumption tax introduced by Turkey’s government in July has caused taxation on cigarettes to jump to 87 percent, higher than the same...
Business

Turkey’s central bank raises reserve requirement on forex deposits

Turkey’s central bank has increased the reserve requirement ratios on forex deposits and participation funds by 100 basis points for all maturity brackets, in a move...
Business

Turkey’s inflation rises below expectations in July: report

Turkey's inflation rose a bit less than expected to 16.65 percent in July after tax cuts on some goods expired, briefly disrupting a downward trend that...
Business

Turkish automotive sales drop 66 percent year-on-year in July

Sales of passenger cars and light commercial vehicles in Turkey slid 66 percent year-on-year in July to 17,927 vehicles, the Automotive Distributors’ Association (ODD) said on...
Business

Turkish state bank lowers interest rates on loans: report

Turkish state lender Ziraat Bank said on Thursday that it had lowered its interest rates on housing, consumer and corporate loans as of Aug. 1, Reuters...
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