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S&P lowers Turkey’s credit rating deeper into junk territory

Standard & Poor's said on Friday it had cut Turkey's sovereign credit rating deeper into "junk" territory, citing extreme lira volatility and forecasting a...
Business

Samsung smartphones get more expensive in Turkey after Erdoğan’s call

South Korean electronics company Samsung has increased the prices of some of its smartphone models sold in Turkey following a recent call from Turkish...
Business

Central bank poll: Turkish lira will be valued at 5.97 to the US dollar at yearend

Turkey’s central bank has released its expectations poll for August 2018 in which it forecast the value of the lira against the US dollar...
Business

Finance Minister Albayrak seeks to reassure global investors amid currency crisis

-- No plans to go to IMF, focus on foreign direct investment -- Government to see certain expenditure cuts -- No non-market measures or capital controls --...
Business

Turkish municipality stops licensing Starbucks, McDonald’s, Burger King

Following a call by Turkish President Recep Tayyip Erdoğan to boycott American electronics, a district municipality in Ankara has stopped issuing business licenses to...
Business

IMF: No indication Turkey considering IMF financial assistance

An International Monetary Fund (IMF) spokesperson said on Wednesday that there was no indication that Turkish authorities are considering asking for financial assistance from...
Business

Turkish lira undershooting fair value, should be at 5 to 5.50 to dollar: global banking group

The Turkish lira is significantly below fair value at the moment and should strengthen over the next one to two years as Turkey’s economy...
Business

Qatar pledges to make $15 billion investment in Turkey

Qatar has pledged $15 billion of investment in Turkey that will be channeled into Turkish financial markets and banks, Reuters reported, citing a government...
Business

Turkey doubles tariffs on some US imports as lira rallies

Turkey doubled tariffs on some US imports including alcohol, cars and tobacco on Wednesday in retaliation for US actions, but the lira rallied further...
Business

Turkish Finance Minister Albayrak: US dollar has lost its reliability

Turkey’s Treasury and Finance Minister Berat Albayrak on Tuesday said the US dollar has lost its reliability as it has the potential to inflict...
Business

Report: Kuwait noncommittal on Turkey’s ask for $1.8 billion amid currency crisis

Turkish Treasury and Finance Minister Berat Albayrak made a quick visit to Kuwait to seek financial assistance in the amount of $1.8 billion amid...
Business

Top Turkish firms stop placing ads on US-based online platforms

Amid a diplomatic row between Turkey and the United States, top Turkish firms are joining in a campaign to stop placing ads on US-based...
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