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Ford to pay $365 million in US tariff fraud case for vans imported from Turkey

American auto giant Ford has agreed to pay $365 million to settle a civil suit linked to the alleged disguising of imported cargo vans...
Business

Turkey’s unemployment rate rises to 9.1 percent in January: TurkStat

Turkey's unemployment rate rose 0.2 percentage points month-on-month to 9.1 percent in January, data from the Turkish Statistical Institute (TurkStat) showed on Monday. The number...
Business

Turkey increased arms exports, ranked 11th largest exporter globally: SIPRI report

A new report published by the Stockholm International Peace Research Institute (SIPRI) shows Turkey’s arms exports increased by 106 percent over the past four...
Business

Fitch upgrades Turkey’s rating to ‘B+’, outlook to positive

Turkey’s financial standing has received a boost as Fitch Ratings on Friday upgraded the nation’s long-term foreign-currency issuer default rating (IDR) to "B+" from...
Business

Lira faces worst week in 8 months, expected volatility rises: report

With the lira’s losses this week, the Turkish currency is heading for its worst weekly performance since July 21 as higher-than-expected inflation combined with...
Business

Turkey signs energy cooperation deal with Somalia: report

Turkey signed an offshore oil and natural gas cooperation deal with Somalia on Thursday, Reuters reported, citing the Turkish energy minister, further strengthening bilateral...
Business

Turkey’s current account recorded $2.8 billion deficit in January: report

Turkey's current account is expected to record a deficit of $2.8 billion in January, with the deficit seen at $32 billion at the end...
Business

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...
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