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Erdoğan to embark on Gulf tour to attract investment to Turkey: report

Turkish President Recep Tayyip Erdoğan is set to embark on a tour of Gulf countries, looking to attract investment and other financial resources that...
Business

Turkish state lenders boost lira amid central bank’s pledge not to intervene: report

Turkish state-run banks have sold nearly $1 billion in foreign currency to prop up the lira, Bloomberg reported on Monday, after a recent statement...
Business

Independent research group shows Turkey’s annual inflation at 108 pct in June

An independent inflation research group has announced that June consumer prices in Turkey recorded a monthly increase of 8.54 percent and an annual increase...
Business

Turkey’s manufacturing expands in June, cost pressures build: report

Turkish factory activity expanded at a steady pace in June, although new orders growth slowed and price pressures grew as the currency weakened, Reuters...
Business

Turkish lira at new low after rollback of bank rules: report

The Turkish lira slid 1.8 percent to a fresh record low against the US dollar on Monday after the central bank took steps to...
Business

Turkish central bank delivers big rate hike to 15 percent but U-turn still underwhelms: report

Turkey's central bank hiked its key rate by 650 basis points to 15 percent on Thursday and said it would go further, in a...
Business

Turkey anticipates investments from Gulf following talks in UAE, say sources: report

Turkey is optimistic about securing significant investments from the United Arab Emirates (UAE) and Saudi Arabia in its energy and defense sectors after high-level...
Business

Turkey expects drastic interest rate hike to fight inflation and stabilize lira amid economic crisis

Turkey is widely expected to back away Thursday from President Recep Tayyip Erdoğan's years-long unconventional economic policy and drastically raise interest rates to fight...
Business

Erdoğan’s far-right ally points to need for ‘painful’ interest rate hike

Turkish President Recep Tayyip Erdoğan's influential ruling coalition partner said Tuesday that the government needed to take "painful" economic recovery measures that included interest...
Business

Turkey raises minimum wage by 34 percent to address inflation

Turkey raised monthly minimum wage by another 34 percent beginning on July 1, the government said on Tuesday, bringing it to a net 11,402...
Business

Turkey’s Competition Board launches new investigation into Google: report

Turkey's Competition Board said on Monday it has launched a new investigation into Alphabet Inc., Google LLC and Turkish Google's advertising unit to determine...
Business

Russia’s VTB to launch cross-border transfers with India, Turkey: report

Russia's No. 2 lender, VTB (VTBR.MM), on Thursday said it would increase the number of countries to which retail clients can send money from...
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