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Turkey’s tourism revenues drop by 29.7 percent in 2016

Turkey earned $22.1 billion in tourism revenues in 2016, 29.7 percent less than the country's tourism revenues in 2015, data released by the Turkish...
Business

Erdoğan says he will support law allowing new construction on Bosporus

Turkish President Recep Tayyip Erdoğan said on Friday that he is in favor of proposed legislation for future construction on the shores of İstanbul’s Bosphorus...
Business

Turkey loses last investment grade rating after Fitch cut

Fitch has cut Turkey's sovereign rating to junk level, becoming the last major rating agency to put the country under investment-level territory. Fitch’s decision came...
Business

S&P revises Turkey outlook down to negative in surprise move

In the midst of expectations of a Fitch downgrade of Turkey’s rating, another major rating agency, Standard and Poor’s (S&P), revised its outlook on...
Business

Turkish PM again blames Gülen movement for worsening economy

As the Turkish lira plunged even further on Friday, Prime Minister Binali Yıldırım claimed the Gülen movement was responsible for the deterioration in the...
Business

Lira slides further as Fitch set to review Turkey’s rating

The Turkish lira started Friday in a negative position as Fitch, the only major credit rating agency that keeps Turkey within investment grade territory,...
Business

Turkey appoints trustees to giant textile company, famous baklava maker

As part of an ongoing trend of confiscating private businesses over alleged coup charges, the Turkish government on Thursday appointed trustees to giant textile...
Business

Turkey’s top court says no gov’t decrees can be issued on property rights

A recent decision by Turkey's Constitutional Court said government decrees including those issued during a state of emergency that seize people's assets are against...
Business

Turkey plunges from 66th to 75th place in TI’s Corruption Perceptions Index 2016

Global watchdog Transparency International (TI) released its Corruption Perceptions Index 2016 on Wednesday in which Turkey plunged to 75th from 66th place among 176...
Business

Turkey seizes all assets of businessman Akın İpek, mother Melek İpek

A Turkish court on Tuesday ordered the seizure of all assets of Turkish businessman Akın İpek and his mother, Melek İpek, over their alleged...
Business

The Guardian: UK sells arms to Turkey as Erdoğan continues crackdown

The London-based Guardian daily said in an article on Sunday that the British government has been turning a blind eye to human rights violations...
Business

Account of arrested Altan brothers’ sister frozen by bank

A bank account belonging to the sister of two jailed Turkish intellectuals, Mehmet Altan and Ahmet Altan, has been frozen, according to a tweet...
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