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Turkey to introduce tighter controls, fines for steep price hikes

The Turkish Interior Ministry on Thursday ordered governors across the country to impose tighter controls and fines on those imposing steep price hikes due...
Business

IMF slashes growth forecasts for Turkey, calling for measures to shield economy

The International Monetary Fund (IMF) slashed its growth outlook for Turkey and called for a sweeping mix of measures to shield the economy after...
Business

Turkey’s private sector to reduce prices 10 percent to fight inflation: minister

Turkey’s government has agreed with the private sector for an across-the-board 10 percent discount in goods, Finance and Treasury Minister Berat Albayrak said on...
Business

Turkish Trade Ministry seeks defense from 114 companies over price hikes

The Turkish Trade Ministry said on Monday it had asked 114 companies for their defense of what it described as excessive price hikes as...
Business

Erdoğan says Turkey will never seek assistance from IMF

President Recep Tayyip Erdoğan said on Sunday Turkey was not facing any worrying economic problems and would not seek assistance from the International Monetary...
Business

Turkish gov’t removes deputy head of TurkStat after inflation announced at 24.52 pct

Enver Taştı, deputy president of the Turkish Statistics Institute (TurkStat), was removed the same day TurkStat announced that annual inflation in Turkey had hit...
Business

Erdoğan orders ministers not to work with US firm McKinsey

Turkish President Recep Tayyip Erdoğan on Saturday said he has ordered ministers not to work with American management consulting firm McKinsey, the state-run Anadolu...
Business

Turkey struggles to keep bread prices steady amid currency crisis

Turkey has been attempting to keep the price of bread steady amid an ongoing currency crisis. Earlier this week the Trade Ministry rejected a price...
Business

$1.8 billion transfer from Turkey’s Unemployment Fund to state banks

Presidential spokesperson İbrahim Kalın on Wednesday confirmed that TL 11 billion (approximately $1.8 billion) was transferred from the Unemployment Fund to three state-run banks,...
Business

‘We’ve left the worst behind,’ says Turkish finance minister as inflation hits record 24.52 pct

Berat Albayrak, Turkey's treasury and finance minister and son-in-law of President Recep Tayyip Erdoğan, on Wednesday said the country has left the worst behind...
Business

1,022 companies taken over by state fund due to Gülen links since July 2016

Turkey’s state-run Savings Deposit Insurance Fund (TMSF) Chairman Muhiddin Gülal has announced that a total of 1,022 companies have been taken over the by...
Business

Turkey detains 280 suspects in money-laundering probe into transfer of $419 million

Turkish police on Tuesday detained 280 suspects in a money-laundering investigation into the transfer of about 2.5 billion lira ($419 million) worth of foreign...
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