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Finance minister asks public agencies to adhere to cost-saving measures

Finance Minister Mehmet Şimşek said in a circular sent to all public agencies that they should re-evaluate all expenditures, except for earthquake-related expenses, adding...
Business

Erdoğan increases tax on fuel products amid economic challenges in Turkey

Turkish President Recep Tayyip Erdoğan has introduced a significant hike in the Special Consumption Tax (SCT) on fuel products, leading to an increase of TL...
Business

Kosovo buys Turkish Bayraktar drones: report

Kosovo has purchased a batch of Turkish-made Bayraktar drones, its leader said on Sunday, at a time when it faces unrest in the north,...
Business

Canada unfreezes talks with Turkey on export controls after NATO move: report

Canada has unfrozen talks with Turkey on lifting export controls on drone parts after Ankara gave its nod for Sweden to join NATO, a...
Business

Turkey’s unemployment rate falls to 9.5 percent in May: report

Turkey's unemployment rate edged down 0.5 percentage points month-on-month to 9.5 percent in May, Reuters reported on Monday, citing official data, while a seasonally...
Business

Top Turkish officials to discuss ‘economic cooperation’ in Qatar ahead of Erdoğan visit

Turkey's vice president and finance minister will travel to Qatar on Saturday to discuss "economic cooperation opportunities" with leaders there ahead of President Recep...
Business

Turkey hikes VAT rates, consumer loan tax and other fees

Turkey has increased its value-added tax by 2 percentage points in two categories while also raising the tax collected from lending institutions on consumer...
Business

Turkey in talks to sell İzmir port operating rights to Gulf investors: report

Turkey is negotiating with Gulf Arab countries to sell the operating rights for Alsancak Port in the Aegean city of İzmir, in what would...
Business

Turkey’s ruling AKP proposes tax hikes, public servant salary increases amid economic challenges

Turkey's ruling Justice and Development Party (AKP) has proposed a comprehensive bill to parliament raising motor vehicle and corporate taxes in addition to increasing...
Business

Turkey’s inflation rate slows to 38.2 percent

Turkey's annual inflation rate slowed to 38.2 percent in June, official data showed Wednesday, although economists warned that this may be a low point...
Business

Erdoğan to embark on Gulf tour to attract investment to Turkey: report

Turkish President Recep Tayyip Erdoğan is set to embark on a tour of Gulf countries, looking to attract investment and other financial resources that...
Business

Turkish state lenders boost lira amid central bank’s pledge not to intervene: report

Turkish state-run banks have sold nearly $1 billion in foreign currency to prop up the lira, Bloomberg reported on Monday, after a recent statement...
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