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Turkey calls on country’s religious authority in struggle to keep prices down

As the Turkish lira continues to be hit by losses in value against foreign currencies, the government has been struggling to keep prices down,...
Business

Erdoğan calls int’l credit rating agencies ‘fraudsters,’ says currency crisis will pass

Turkish President Recep Tayyip Erdoğan on Friday called international credit rating agencies “fraudsters” while promising his supporters that “this too shall pass,” referring to...
Business

Albayrak: Global rating agencies trying to create pessimistic view of Turkey’s banks

International rating agencies have been making intense efforts to create a pessimistic view of Turkey’s banks, Treasury and Finance Minister Berat Albayrak said on...
Business

Turkey’s central bank deputy governor to leave: report

Turkish Central Bank Deputy Governor and ratesetter Erkan Kilimci is leaving the bank, three sources familiar with the matter told Reuters. Kilimci is joining the...
Business

Report: German MediaMarkt suspends Turkey’s Teknosa acquisition plans

German consumer electronics retailer MediaMarkt has suspended plans to buy shares in Turkey’s Teknosa, Reuters reported, citing two sources close to the matter, after...
Business

Turkey’s economic confidence falls 9 percent, lowest in nine years

Economic confidence in Turkey fell 9 percent in August, compared to last month, the Turkish Statistics Institute (TurkStat) announced on Wednesday, indicating that it...
Business

Turkish gov’t approves Türk Telekom majority share transfer to creditor banks

The Turkish Treasury and Finance Ministry has given the final approval for the transfer of a majority stake in Türk Telekom to a joint...
Business

Moody’s downgrades 20 Turkish banks as lira weakens

Ratings agency Moody’s sounded more alarm about Turkey’s banking sector on Tuesday, downgrading 20 financial institutions and citing the increased risk of deterioration in...
Business

Turkey wants to take relations with EU to new phase: Albayrak

Turkey wants to take its relations with the European Union to a new phase at a time when its trade with the bloc is...
Business

Effects of Turkey’s currency crisis felt as far away as Tennessee: report

Turkey’s currency crisis has roiled emerging-markets investors far and wide, including the US state of Tennessee, where the state’s retirement system is the biggest...
Business

Amazon postpones Turkey launch over anti-American sentiment

Amazon has postponed its entry to the Turkish market due to anti-American sentiment among the public, manifested most recently when Turks smashed iPhones due...
Business

Bundesbank head stresses independence of Turkey’s central bank amid currency crisis

Jens Weidmann, the head of Germany’s Bundesbank, said on Thursday that the independence of the Turkish Central Bank was important for the recovery of...
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