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Fitch lowers outlook for 9 Turkish banks after cutting Turkey’s sovereign outlook

Fitch Ratings lowered the outlook for nine Turkish banks to stable from positive on Tuesday, days after cutting Turkey’s own outlook, saying the banks...
Business

Turkey’s TPAO, TotalEnergies sign deal to explore Black Sea resources

Turkey has signed a memorandum of understanding with French energy giant TotalEnergies to assess potential cooperation in hydrocarbon exploration, Energy Minister Alparslan Bayraktar said...
Business

Fitch downgrades Turkey’s outlook, cites $50 billion drop in reserves and Iran war risks

Fitch Ratings on Friday lowered Turkey’s outlook to stable from positive, saying the country has burned through more than $50 billion in reserves to...
Business

Turkey’s central bank posts $23.8 billion loss in 2025

The Turkish Central Bank has reported a net loss of TL 1.06 trillion ($23.84 billion) for 2025, according to its year-end balance sheet published...
Business

Turkey spends billions in reserves to support lira amid Iran war turmoil

Turkey’s central bank has spent tens of billions of dollars in foreign exchange and gold reserves in recent weeks to stabilize the lira amid...
Business

Turkey’s official March inflation data raise doubts amid global turmoil from Iran war

Turkey’s official inflation data for March came in below expectations despite higher energy and raw material costs stemming from the Iran war, raising questions...
Business

Turkey among hardest-hit economies in region under oil shock scenario, S&P says

Turkey would be among the economies hit hardest by a severe oil price shock in Central and Eastern Europe, along with Hungary and Slovakia,...
Business

Turkey’s trade deficit grew in February as imports outpaced exports

Turkey’s trade deficit increased in February as imports rose faster than exports, according to data from the Turkish Statistical Institute (TurkStat) published on Tuesday. Exports...
Business

Turkey could face three-digit inflation if oil hits $200 a barrel: report

Turkey could face triple-digit inflation if oil rises to $200 a barrel, according to a report by the Cumhuriyet daily, which extrapolates predictions from...
Business

Turkey’s auto market slows as war-driven costs weigh on demand

Turkey’s automotive market is losing momentum, with March sales expected to fall to by some 97,000 units to 100,000 as rising oil prices and...
Business

Turkey sold 22 tons of gold, swapped 34 more to steady markets: reports

 Turkey's central bank sold about 22 tons of gold outright and used roughly 34 tons more in swap transactions to defend the lira and...
Business

Turkey weighs using gold reserves to defend lira amid Iran war turmoil: report

Turkey’s central bank is considering using part of the country’s roughly $135 billion in gold reserves to help defend the lira against market pressure...
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