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Turkey’s central bank asks lenders to limit dollar purchases

Turkey’s central bank has asked local lenders to limit the amount of dollar purchases they make in the interbank market to ease pressure on...
Business

Cost of living skyrocketed in İstanbul in March amid depreciation of Turkish lira

A survey conducted by the İstanbul Planning Agency (IPA) has revealed that the cost of living in Turkey’s most populous city increased by more...
Business

Turkey’s annual inflation falls to 50.5 percent in March: official data

Turkish annual consumer price inflation dropped to 50.51 percent in March, slightly below forecast, easing ahead of May 14 presidential and parliamentary elections, Reuters...
Business

S&P lowers Turkey’s outlook to negative, cites vulnerabilities: report

S&P Global Ratings lowered its outlook on Turkey from "stable" to "negative" on Friday, citing vulnerabilities stemming from the country's low policy rates, directed...
Business

Turkey’s trade deficit surges 51.4 percent in February: report

Turkey's foreign trade deficit surged 51.4 percent year on year to $12.08 billion in February, with imports climbing 10.1 percent, Reuters reported, citing data...
Business

Foreign investors flock to Turkey ahead of elections, anticipating potential economic shift: report

A wave of foreign investors is returning to Istanbul and Ankara after years of absence, holding numerous meetings to gauge the potential impact of...
Business

Turkey’s central bank holds interest rate unchanged at 8.5 percent

Turkey's central bank held its policy rate at 8.5 percent as expected on Thursday, saying it had become even more important to keep financial...
Business

Saudi deposit lifts Turkey’s net FX reserves to $25 billion: report

The Turkish central bank's net international reserves rose by $6 billion last week to $25 billion, three bankers' calculations showed on Tuesday, after a...
Business

Erdoğan’s party pivots back to orthodox economic policies in draft manifesto: report

The draft election manifesto of Turkish President Recep Tayyip Erdoğan's ruling Justice and Development Party (AKP) marks a return to more orthodox, free market...
Business

European development bank offers Turkey post-earthquake aid

The European Bank for Reconstruction and Development on Thursday announced it would invest up to 1.5 billion euros ($1.6 billion) in Turkey's earthquake-hit region...
Business

Turkey’s Black Sea gas project faces delay due to earthquakes: report

The start of Turkish natural gas production from the Black Sea may be delayed by up to a month after staff had to leave...
Business

Saudi Arabia deposits $5 billion in earthquake-hit Turkey’s central bank

Saudi Arabia said Monday it was depositing $5 billion in Turkey's central bank, a potentially major boost as the country grapples with inflation and...
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