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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...
Business

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...
Business

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...
Business

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...
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...
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