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Turkey’s new economic stimulus fails to soothe currency woes

The Turkish government on Thursday announced long-expected economic initiatives including the establishment of a $73 billion loan fund, but the stimulus plan has had...
Business

Erdoğan calls on people to sell more foreign currency

President Recep Tayyip Erdoğan on Friday called on citizens to sell more foreign currency in support of the national economy. "I thank my people who...
Business

Owner, execs of pharma company detained on accusation of ‘being inspired by putschists’

İrfan Koç, the owner of the Onko Koçsel pharmaceutical company, was detained on Thursday over coup charges along with two other executives. According to the...
Business

Owner of Turkey’s dairy giant detained over coup charges

  Seventeen people including Nevzat Serin, the owner of the Denizli-based Aynes Gıda, were detained as part of an investigation into the Gülen movement on...
Business

After price hike, gasoline to exceed TL 5 for first time in 2.5 years

With an increase in gasoline prices in Turkey that will be in effect as of midnight, the price of gasoline will exceed TL 5...
Business

PM Yıldırım to announce economic package on Thursday

Amid signs of a looming economic crisis, Turkish Prime Minister Binali Yıldırım said on Monday that the government would inform the public about a...
Business

Turkish university calls on students to convert their forex into lira

Following Turkish President Recep Tayyip Erdoğan's call to citizens to convert their foreign currencies into Turkish lira or gold, Hitit University in Çorum province...
Business

[VIDEO] Erdoğan: If you’re a patriot, convert your dollars into Turkish lira

Amid signals of a looming economic crisis, President Recep Tayyip Erdoğan on Sunday described Turks who convert their foreign currencies into Turkish lira as...
Business

Iran’s Supreme Court upholds death sentence for businessman Zanjani

The Iranian Supreme Court on Saturday upheld a death sentence on graft charges for Babak Zanjani, one of Iran’s wealthiest businessmen and an alleged...
Business

CHP leader to Erdoğan: Have you sold off the dollars you keep in shoeboxes?

Main opposition Republican People’s Party (CHP) Chairman Kemal Kılıçdaroğlu on Saturday asked President Recep Tayyip Erdoğan whether he has sold off his own dollars...
Business

Turkey’s stock exchange moves to keep assets in local currency after Erdoğan’s call

Turkey’s stock exchange, Borsa İstanbul (BİST), on Friday moved to keep all its cash assets in accounts denominated in Turkish lira.   “In support of the...
Business

Lira in freefall as Erdoğan urges Turks to sell off forex

An economic crisis will only slightly affect Turkey if fellow citizens convert their foreign currencies into Turkish lira or gold, President Recep Tayyip Erdoğan...
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