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Turkey cuts investment levels required for foreigners to acquire citizenship

Turkey has slashed the financial and investment criteria for foreigners to become Turkish citizens, a move expected to double annual property investment by foreigners...
Business

Amazon launches its Turkey operation

Amazon.com, Inc., said on Wednesday it had launched activities in Turkey, offering products in 15 categories to customers across the country, Reuters reported. “We are...
Business

Turkish lira loses almost all gains after interest rate hike of 625 basis points

Five days after the Turkish Central Bank’s interest rate hike of 625 basis points, a record high during President Recep Tayyip Erdoğan’s terms in...
Business

Erdoğan says CHP shares in İşbank should be given to Treasury

Turkish President Recep Tayyip Erdoğan has targeted the main opposition Republican People’s Party (CHP) over its shares in Turkish lender İşbank, the Cumhuriyet daily...
Business

Turkey’s biggest business newspaper lays off 40 employees due to financial troubles

Turkey’s prestigious economy newspaper Dünya has let 40 staff members go over the last two days as a result of financial problems, the Gerçek...
Business

Erdoğan on interest rate hike: My patience has limits

Turkish President Recep Tayyip Erdoğan reacted angrily on Friday to a crucial interest rate hike announced by the country’s central bank, stating that his...
Business

Number of unemployed in Turkey rises to 2.7 million

The number of people in Turkey who were unemployed as of the end of August rose to 2,751,000 according to data from the Turkish...
Business

Turkey rules property sales, rental agreements must be in lira

Turkish President Recep Tayyip Erdoğan has decreed that property sales and rental agreements must be made in lira, putting an end to such deals...
Business

Turkish central bank hikes rates to save weakening lira

Turkey’s central bank raised its benchmark rate by 625 basis points on Thursday in a move that boosted the lira and may ease investor...
Business

Erdoğan names himself chairman of Turkey’s Wealth Fund

Turkish President Recep Tayyip Erdoğan appointed himself chairman of Turkey’s sovereign Wealth Fund and his-son-in law and Treasury and Finance Minister Berat Albayrak as...
Business

Turkish economy grew by 5.2 percent in Q2, driven by private consumption

The Turkish economy grew by 5.2 percent in the second quarter of this year compared to the same period last year, the country’s statistics...
Business

Turkey, Russia, Iran agree to use local currencies instead of US dollar in trade

Turkey, Russia and Iran have agreed to use their local currencies in trade among the three countries instead of the US dollar, Central Bank...
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