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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...
Business

Erdoğan plans to combine economic management under one ministry if re-elected

Turkey’s President Recep Tayyip Erdoğan plans to combine economic management under one ministry if he is re-elected in an upcoming presidential election on June...
Business

İYİ Party member detained for tweet claiming Halkbank to be fined by US

An İstanbul court has ruled for the pretrial detention of Kerim Yılmaz, a High Advisory Board member of the İYİ (Good) Party, over a...
Business

Moody’s downgrades forecast for Turkey’s GDP growth to 2.5 percent

Global credit rating agency Moody’s has downgraded its expectations for Turkish gross domestic product (GDP) growth to 2.5 percent this year and 2.0 percent...
Business

Şimşek reassures global investors in London, softening Erdoğan rhetoric

Turkey’s Deputy Prime Minister Mehmet Şimşek assured global investors in London that the central bank has the freedom to act to defend the Turkish...
Business

Detention warrants issued for 59 Bank Asya customers over alleged Gülen links

The Ankara Chief Public Prosecutor’s Office has issued detention warrants for 59 people who were customers of the now-closed Islamic lender Bank Asya, which...
Business

Lira gains value after central bank simplification announcement

The Turkish lira gained value and firmed to 4.55 against the US dollar after a central bank decision on Monday "to complete the simplification...
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