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Banks propose rule to speed up restructuring of company debt in Turkey

Turkish banks have proposed rules to speed up the restructuring of company debt and allow lenders to avoid booking problematic credit as non-performing loans,...
Business

BOTAŞ hikes natural gas prices 49.5 pct for electric power plants

Turkey’s Petroleum Pipeline Corporation (BOTAŞ) on Tuesday sent a memo to power plants that generate electricity through natural gas announcing that a 49.5 percent...
Business

Business association chair: $40 billion could buy one-fourth of Turkish companies

Abdurrahman Kaan, the head of Turkey’s conservative Independent Industrialists and Businessmen’s Association (MÜSİAD), told the state-run Anadolu news agency on Monday an entrepreneurial group...
Business

Turkey’s exports to EU countries grew by 6.4 percent in June

Turkey’s exports to European Union countries increased by 6.4 percent over the same period last year, reaching $6.6 billion in June, according to the...
Business

Turkish central bank sharply revises inflation forecast upward from 8.4 to 13.4 pct

Turkey’s central bank on Tuesday sharply raised its inflation forecast for this year and next, saying price pressures were the only factor in its...
Business

According to commercial code, most Turkish firms are bankrupt: commerce chamber head

Ankara Chamber of Commerce President Nurettin Özdebir has argued that according to the Turkish Commercial Code, most Turkish companies are bankrupt because they have...
Business

Skyrocketing sesame seed prices threaten mainstay of Turkish diet, the simit

The simit, a small, circular bread covered with sesame seeds popular in Turkey, is under threat by skyrocketing sesame seed prices, with some producers...
Business

Syrian refugees in Turkey establish 7,243 companies in 7 years

According to a report titled “Companies with Syrian Capital” published by the Economic Policy Research Foundation of Turkey (TEPAV), Syrian refugees in Turkey have...
Business

Fitch: Turkish lira might plunge to 5.5 against the dollar by yearend

According to a new report by global credit rating agency Fitch, the Turkish lira might plunge to 5.5 to the US dollar at end-2018...
Business

Minister: Measures being taken to limit expenses of public administration

Turkey’s newly appointed Treasury and Finance Minister Berat Albayrak said in a press release on Tuesday that measures are being taken to limit the...
Business

Turkish central bank leaves policy rate unchanged, defying expectations

Turkey’s central bank left its policy rate unchanged on Tuesday, bucking market expectations of a hike and sending the lira down sharply in the...
Business

Economists expect Turkey’s central bank to hike interest rates at tomorrow’s meeting

At a scheduled meeting of the Turkish Central Bank’s (TCMB) Monetary Policy Committee tomorrow, following presidential and parliamentary elections last month, economists expect a...
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