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Clause stipulating 5-year term for Turkey’s central bank governor removed

Turkey removed a clause that stipulated a five-year term for the central bank governor, making the changes in a decree published shortly before President...

Turkey ready to establish ‘national’ credit agency, BDDK chairman says

Turkey’s Banking Regulation and Supervision Agency (BDDK) Chairman Mehmet Ali Akben said on Friday that they had adopted regulations needed for an “independent and...

Turkish banks apply to Competition Authority to take over 55 pct of Türk Telekom

Akbank, Garanti and İşbank have applied to Turkey’s Competition Authority (RK) to take over 55 percent of Türk Telekom, Reuters reported, citing a Thursday...

Turkey’s energy giant sells power plants to pay down debt

Turkey’s Bereket Enerji group has put power plants up for sale as part of plans to refinance and pay down its debt, joining other...

Turkish inflation hits 15.39 percent in June, highest since 2004

Turkish consumer price inflation jumped to a 14-year high in June, official data showed on Tuesday, driving the lira down and putting pressure on...

Pro-gov’t businessman signs lucrative deal with Turkish defense contractor

An agreement valued at 94.6 million euros has been signed between the BMC automotive company, owned by a pro-government Turkish businessman, and Turkish electronics...

Arabic signs removed in İstanbul district densely populated by Syrian refugees

Officials from the Esenyurt Municipality in İstanbul on Friday removed signs in Arabic from district shops, in a neighborhood densely populated by Syrian refugees,...

Report: Turkey, Japan discuss speeding up nuclear plant construction in Sinop

Turkish President Tayyip Erdoğan and Japanese Prime Minister Shinzo Abe in a telephone call on Thursday discussed speeding up construction of a nuclear power...

Turkey to import potatoes from Syria in attempt to push down prices

Turkey is allowing potato imports in limited quantities from Syria in an attempt to offset skyrocketing domestic prices, Economy Minister Nihat Zeybekci announced on...

Turkey’s possible downgrade hinges on Erdoğan’s policies, Moody’s says

International credit rating agency Moody’s said on Tuesday that a review on a possible downgrade of Turkey’s sovereign credit rating will hinge on what...

Erdoğan’s sweeping election victory has limited effect on Turkish lira

President Recep Tayyip Erdoğan’s re-election had only a limited effect on the Turkish lira on Monday, despite a sweeping victory. While in the early morning...

Turkey’s FDI declines 22 pct year-on-year in first 4 months

Turkey attracted some $3.1 billion in net foreign direct investment (FDI) from January to April, a 22 percent decline year-on-year, the Economy Ministry announced...

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