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Turkish lira hits record low ahead of Sunday’s runoff election

The Turkish lira weakened to a record low of 20 against the dollar on Friday, ahead of this weekend's presidential election runoff, which will...
Business

Turkey’s forex and gold reserves fell $17 billion before election: report

Turkey’s foreign currency and gold reserves tumbled $17 billion in the six weeks before Sunday’s general election as Recep Tayyip Erdoğan’s government sought to...
Business

Turkey’s earthquakes weigh on reinsurance company Munich RE profits

German reinsurance giant Munich RE reported a drop in first-quarter profits Wednesday after taking a hit from claims linked to two devastating earthquakes that...
Business

EBRD bank lowers Turkey GDP forecast, upgrades Russia

Turkey's earthquake-hit economy will grow this year by less than previously forecast, while Russian output will shrink far less than expected despite Ukraine war...
Business

Iraqi Kurds await ‘final deal’ on Turkish crude exports

Officials in Iraqi Kurdistan say Baghdad is still waiting to reach a "final agreement" with Ankara to resume oil exports to Turkey, where the...
Business

Iraq awaits Turkey’s response to resume Kurdish oil exports

Iraq is still waiting for a formal response from Turkey to resume oil exports from the autonomous Kurdish region, Agence France-Presse reported, citing Kurdish...
Business

Iraq finalizes deal to resume Kurdish crude exports to Turkey

Iraq's federal and Kurdish governments have finalized a deal to resume crude oil exports through Turkey pending a response from Ankara, Agence France-Presse reported,...
Business

Turkey defers $600 million Russian energy payment under deal: report

Turkey has deferred payment to Russia of a $600 million natural gas bill to 2024, Reuters reported, citing two sources on Wednesday, the first...
Business

Erdoğan announces 45 pct hike in public servant wages days before tight vote

Turkish President Recep Tayyip Erdoğan has announced a 45 percent increase in the wages of some 700,000 public servants, the latest in a series...
Business

Turkey’s inflation slows to 44 percent ahead of critical elections

Turkey’s annual inflation slowed to 43.68 percent in April, official data showed on Wednesday, easing ahead of elections that polls show President Tayyip Erdoğan...
Business

Turkey’s central bank sells gold to support diminishing FX reserves amid lira pressure

Bünyamin Tekin As Turkey's central bank struggles to stabilize the lira before May elections, it has resorted to selling gold to support its rapidly diminishing foreign...
Business

Turkey sets 130 percent duty on wheat, barley, corn imports

Turkey has announced that it will impose a 130 percent tariff on certain grain imports, including wheat and corn, from May 1, according to...
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