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Turkey eyes major investment in Libyan offshore oil

The Turkish Petroleum Corporation is prepared to invest billions of dollars in developing offshore oilfields in Libya, the state-owned company’s director general said at...
Business

Turkey seeks free trade deal with Syria amid criticism over skyrocketing import tariffs

Turkey’s Trade Ministry said on Friday that the country is pursuing a free trade agreement with Syria amid mounting criticism over the Syrian government’s...
Business

Billions in illicit funds flow into Turkey due to corruption and lax oversight, experts warn

Turkey has become a key hub for money laundering due to deep-seated corruption, repeated amnesty programs and weak enforcement of financial regulations, allowing billions...
Business

China may invest $60 billion in Turkish railways to bypass Russia: report

China is considering a $60 billion investment in Turkey’s rail network to create a faster freight route to Europe and to avoid Russia, according...
Business

Syrian tariffs on imports from Turkey skyrocket, triggering protests

The Syrian government’s decision to standardize tariffs has led to a drastic increase in duty on imports from Turkey, sparking protests in northern Syria amid...
Business

Turkey’s inflation slows to 44.3 percent in December

Turkey's annual inflation rate slowed for the seventh consecutive month in December, Agence France-Presse reported, citing official figures on Friday. Consumer prices rose by 44.3...
Business

After 18 months of orthodox economics, Erdoğan again vows to lower interest rate to ‘fight inflation’

Turkish President Recep Tayyip Erdoğan has renewed his push to lower interest rates, claiming that cutting rates is essential to reducing inflation and stabilizing...
Business

Turkey lowers interest rate to 47.5 percent

Turkey's central bank lowered its key interest rate on Thursday, the first cut in nearly two years as it battles double-digit inflation, Agence France-Presse...
Business

Turkish central bank plans to end FX-protected deposit scheme in 2025

Turkey's central bank on Wednesday announced that it plans to terminate its foreign exchange-protected lira deposit scheme next year as part of its macroprudential policy...
Business

Turkish gov’t raises monthly minimum wage by 30 percent for 2025

The Turkish government has announced a 30 percent increase in the monthly minimum wage for 2025, raising it to 22,104 Turkish lira ($630.36) from...
Business

Turkey, Hungary granted waiver for gas payments due to Gazprombank sanctions: report

Turkey and Hungary said they have received exemptions for gas payments to Russia after the United States imposed sanctions on Gazprombank, removing a major...
Business

Turkey’s Pegasus Airlines to buy 200 Boeing 737 aircraft

Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order worth some $36 billion as it...
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