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CATEGORY

Business

Business

Turkey to impose retaliatory tariffs on US

Turkey will on Thursday start implementing retaliatory tariffs worth $266.5 million against the United States over “ill-advised” and “unsupportable” additional steel tariffs enacted by...
Business

Turkey’s purchasing power lags behind EU average by 35 points

According to newly released 2017 data from EuroStat, in the volume index of gross domestic product (GDP) per capita expressed in Purchasing Power Standards...
Business

Turkey’s unemployment rate drops to 10.1 pct but remains in double digits

Turkey’s unemployment rate stood at 10.1 percent in March, falling 1.6 percentage points on a yearly basis but remaining in double digits, the Hürriyet...
Business

30.8 percent of Turkish youth neither working nor studying

Eurostat’s latest survey on young people neither in employment nor in education or training (NEET) has revealed that 30.8 percent of Turkish youth between...
Business

Turkish lira lurches towards record low despite central bank moves

The Turkish lira lurched back towards a recent record low on Wednesday despite moves by the central bank, including hikes in interest rates totaling...
Business

Turkish economy grows 7.4 percent in Q1, exceeding forecasts

The Turkish economy exceeded expectations by growing 7.4 percent in the first quarter over the same period last year, according to Turkish Statistics Institute...
Business

TMSF to convert assets in foreign currency to Turkish lira

Turkey’s Savings Deposit Insurance Fund (TMSF) announced on Friday it would convert its assets in foreign currency to the Turkish lira as part of...
Business

Turkey’s central bank hikes benchmark rate 125 basis points

The Turkish Central Bank (TCMB) raised its benchmark rate from 16.5 to 17.75 percent on Thursday, a move that was expected following an increase...
Business

Turkey’s inflation rates exceed expectations

Turkey’s consumer price index (CPI) grew by 1.62 percent in May, exceeding expectations of 1.45 percent and raising inflation to 12.15 percent year-on-year, according...
Business

Fitch, Moody’s statements are manipulative, speculative, Turkish minister says

Turkish Economy Minister Nihat Zeybekci called recent statements from global credit agencies Fitch and Moody’s “manipulative” and “speculative” during a Justice and Development Party...
Business

Foreign direct investment flowing in to Turkey, Şimşek claims

Deputy Prime Minister Mehmet Şimşek appeared on pro-government Kanal 7 TV on Sunday, saying funds from global investors have begun to flow into Turkey...
Business

Turkish stocks fall as banks put on Rating Watch Negative by Fitch

The Turkish stock exchange’s 100 Index and the lira closed the week in poor condition after a promising but brief recovery in advance of...
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