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Treasury stakes in THY, Halkbank also transferred to Wealth Fund

The Turkish government has announced that following the transfer of Treasury stakes in a number of top companies to the newly established Wealth Fund...
Business

Turkey transfers state shares in major companies to Wealth Fund

Shares belonging to the Turkish Treasury in a number of companies including Ziraat Bank, the Turkish Petroleum Corporation (TPAO), satellite network TÜRKSAT, the Petroleum...
Business

IMF warns about uncertainty in Turkey

Growth in Turkey is projected to be below potential in 2016-2017, estimated at around 3.5 percent, due to political uncertainty, despite a strong performance...
Business

Trustees appointed to companies of 32 purge victims

Trustees were appointed on Friday to the companies of 32 people who are partners in various companies in Turkey’s Aegean province of Uşak due...
Business

Turkey’s annualized inflation hits 9.22 percent in January 2017

Turkey‘s inflation rate increased in January by 2.46 percent over the previous month, with the consumer price index coming in at an annualized 9.22...
Business

S&P downgrades rating of 4 Turkish banks after revising Turkey’s outlook to negative

International rating agency Standard and Poor’s (S&P) downgraded the rating of İş Bank, Vakıf Bank, Yapı Kredi Bank and Garanti Bank on Tuesday following...
Business

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,...
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