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Turkey’s income distribution gap widened in 2023

The portion of total income going to the wealthiest 20 percent of the population in Turkey increased to 49.8 percent, local media reported on...
Business

Turkey’s central bank lifts key interest rate one last time to 45 percent

Turkey's central bank on Thursday delivered what it said was the final interest rate hike of a historic tightening cycle that more than quintupled...
Business

Erdoğan to take economic measures against Israel over Hamas war: report

Turkish President Recep Tayyip Erdoğan is considering imposing economic sanctions on Israel due to its ongoing attacks on Gaza, which have claimed the lives...
Business

Erdoğan again disappoints retirees with low pension increase

Turkish President Recep Tayyip Erdoğan has once again let down retirees and attracted widespread criticism for a pension increase that fell significantly below expectations,...
Business

Minister announces measures to tackle tax evasion by social media influencers

Turkish Finance Minister Mehmet Şimşek has announced tax audits for 250,000 people, including social media influencers, with the goal of preventing tax evasion and...
Business

Turkish competition board to fine Meta Platforms $160,000 a day

Turkey's competition authority said on Wednesday that it had decided to fine Facebook parent Meta Platforms Inc 4.8 million lira ($160,000) a day for...
Business

Turkey’s unemployment rate rose slightly to 9 percent in November: TurkStat

The unemployment rate in Turkey increased 0.4 percentage points month-on-month to 9 percent in November, which ended a five-month-long downward trend, according to data...
Business

Minister Şimşek not to attend event with US investors in person due to busy schedule

Turkish Finance Minister Mehmet Şimşek, who was to travel to New York this week with Central Bank Governor Hafize Gaye Erkan to hold an...
Business

Turkey’s highest taxpayers would have preferred anonymity, fearing seizure of assets

Leader of the opposition Democracy and Progress Party (DEVA) Ali Babacan has said some businesspeople on a list of the top taxpayers in Turkey...
Business

Turkey’s finance minister, central bank governor to hold Investor Days in NYC

Turkish Finance Minister Mehmet Şimşek and Central Bank Governor Hafize Gaye Erkan will travel to New York this week to hold an Investor Days...
Business

Minister says Turkey’s monetary policy will remain tight ‘for a while’: report

Turkey's monetary policy will remain tight for a while to ensure that inflation falls and remains anchored at lower levels, Reuters reported, quoting Finance...
Business

Turkish exports to Israel rose by 34.8 pct from November to December

Contrary to Ankara’s political rhetoric on the war in the Palestinian enclave of Gaza, Turkish exports to Israel rose by 34.8 percent last month,...
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