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Turkish oil terminal halts Russian oil business amid pressure from US: report

One of Turkey's mid-sized Mediterranean oil terminals -- the Dörtyol terminal -- will no longer accept Russian imports after receiving record volumes last year,...
Business

JPMorgan adds new Turkey rate hike forecast after inflation jump: report

Stronger-than-expected Turkish inflation data led JPMorgan on Monday to add another 500 basis point interest rate hike to their forecasts for the country in...
Business

Turkey’s inflation rises to 67.1 percent in February

Turkey's annual inflation rose again in February, reaching 67.1 percent despite a string of interest rate hikes, Agence France-Presse reported, citing official data on...
Business

Turkey’s GDP grew by 4.5 percent in 2023: report

Turkey's economy grew a more-than-expected 4.0 percent in the fourth quarter, official data showed on Thursday, with full-year growth at 4.5 percent as strong...
Business

Turkish vice president urges more investment from China

Turkey should attract more investment and tourists from China, Turkish Vice President Cevdet Yılmaz said on Wednesday, local media reported. Bilateral trade currently exceeds $50...
Business

Turkey ends tightening cycle, keeps interest rate at 45 percent

Turkey's central bank maintained its key interest rate at 45 percent on Thursday, marking the end of its monetary tightening cycle after eight consecutive...
Business

Turkish-Russian trade faces fresh US sanctions threat: report

A US threat to hit financial firms doing business with Russia with sanctions has chilled Turkish-Russian trade, disrupting or slowing some payments for both...
Business

Turkey to keep rates steady at 45 percent as tightening cycle ends: Reuters poll

Turkey's central bank is expected to keep its key interest rate steady at 45 percent next week, after a 250 basis-point hike last month,...
Business

Turkey’s unemployment rate fell to 8.8 percent in December

Turkey's unemployment rate fell 0.1 percentage points month-on-month to 8.8 percent in December, data from the Turkish Statistical Institute (TurkStat) showed on Monday. The number...
Business

Turkey’s new central bank governor vows to continue work to tame inflation

The new governor of Turkey’s central bank has said efforts to get the country’s skyrocketing inflation under control will continue under his leadership while...
Business

Turkey’s inflation sees big monthly jump in January

Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped sharply following a huge minimum wage...
Business

Turkey’s central bank governor resigns, citing ‘character assassination’ campaign against her

Turkish Central Bank Governor Hafize Gaye Erkan, the first woman to hold that position in Turkey, has announced her resignation, citing an ongoing “character...
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