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THY’s rental expenses increased fivefold in Q1 at İstanbul’s new airport: report

Turkish Airlines (THY) paid nearly five times more for general rental expenses in the first quarter of 2019 compared to the same period last year at...
Business

BDDK denies filing complaints over critical comments about Turkey’s currency crisis

Turkey’s Banking Regulation and Supervision Agency (BDDK) on Friday denied media reports claiming that it filed criminal complaints about dozens of people including journalists due to...
Business

Moody’s downgrades Turkey rating to B1, ministry challenges move

Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, saying the risk of a balance of payments crisis continued to rise, and with...
Business

Turkey’s red meat imports jumped by 233 percent in 2018: report

Turkey’s imports of red meat increased by 233 percent in 2018, while its red meat production dropped significantly, according to a report from the country’s Meat...
Business

38 indicted by Turkish prosecutor for reports, comments critical of Turkey’s economy

A Turkish court accepted an indictment from a prosecutor requesting a jail term of between two and five years for two Bloomberg reporters and 36 other...
Business

Some 30 percent of Qatari investment in Turkey pulled back: report

Qatari investors sold off nearly 30 percent of their holdings on Turkey’s İstanbul Borsa stock exchange in the first five months of 2019, according to the...
Business

Turkey’s central bank keeps interest rates unchanged before repeat İstanbul election

As Turkey heads towards an İstanbul election re-run on June 23, the country’s central bank on Wednesday kept interest rates steady at 24 percent, the state-run...
Business

Vehicle sales in Turkey dropped by 54.6 percent year-on-year in May: report

Total vehicle sales in Turkey declined by 54.6 percent year-on-year to 33,016 units in May, data from the Automotive Distributors’ Association (ODD) showed on Tuesday, the...
Business

Inflation to drop to single digits, interest rates to be decreased: Albayrak

Treasury and Finance Minister Berat Albayrak on Thursday claimed that Turkey’s inflation would drop to single digits in three months’ time and that interest rates would...
Business

IMF chair says Turkey’s Erdoğan not eager to seek financial assistance: report

The head of the International Monetary Fund (IMF), Christine Lagarde, said the fund would be willing to help Turkey if its finances continue to...
Business

Turkey’s April food inflation more than 30 pct higher than in EU countries: report

Turkey’s food inflation in April climbed to 31.9 percent, more than 30 percent higher than the average in European Union countries, according to a recent report...
Business

S&P director says Turkish lira is ‘fundamentally undervalued’

Turkey’s lira is fundamentally undervalued and will continue to support the country’s export sector, S&P Global Ratings said on Thursday, Reuters reported. Speaking about possible drivers of...
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