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EU to investigate plywood imports from Turkey over potential evasion of measures against Russia

The European Commission has initiated an investigation into the import of birch plywood from Turkey and Kazakhstan, suspecting that these imports might be circumventing...
Business

Turkish grocery firm Getir cuts over tenth of global workforce

Turkish rapid grocery delivery firm Getir said Tuesday it was slashing over a tenth of its global workforce in a bid to stem losses...
Business

Russians establish over 2,000 companies in Turkey in last 18 months amid sanctions: report

More than 2,000 new companies have been established by Russians in Turkey in the past 18 months as sanctions due to the ongoing conflict...
Business

Hungary’s MVM to buy gas from Turkey’s BOTAS in ‘groundbreaking’ deal

Hungarian energy conglomerate MVM has agreed to buy about 300 million cubic meters of natural gas from Turkish energy company, BOTAŞ, Reuters reported. "This strategic...
Business

Turkey begins rolling back costly FX-protected deposits: report

Turkey's central bank began rolling back a growing and costly scheme on Sunday that protects lira deposits from FX depreciation, marking another move toward...
Business

Gold imports in Turkey increase fivefold in second quarter amid economic uncertainty

A dramatic increase in Turkish gold bar and coin demand in the second quarter of 2023 marked a fivefold surge, setting new records, the...
Business

Turkey’s public budget swings to surplus after July tax increases: report

Turkey’s public budget swung to a surplus in July, after tax increases on a wide range of essential goods boosted the government’s revenues, Bloomberg...
Business

Turkey must avoid recession while fighting inflation, VP says

Turkey must sustain its push on production and exports to prevent the economy from falling into recession even as it fights inflation, Vice President...
Business

Turkish courts overwhelmed by lawsuits amid rental crisis

More than 147,000 rental disputes were taken to court in the first half of 2023 as an increasing number of Turks are grappling with...
Business

Turkey’s unemployment rate rises to 9.6 percent in June: TurkStat

Turkey’s unemployment rate rose to 9.6 percent in June, up by 0.1 percentage point from May, the state-run Anadolu news agency reported on Thursday,...
Business

Şimşek says Turkey’s inflation will fall permanently after transitional period: report

Turkey aims to lower soaring inflation permanently after a transitional period where prices remain high, Finance Minister Mehmet Şimşek said on Thursday in an...
Business

Turkey imposes extra charge for some gold imports

Turkey has introduced a 20 percent additional charge for some gold imports, according to a decision published in the Official Gazette early on Tuesday,...
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