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Hotel occupancy rate across Turkey down by half in first 6 months: report

The hotel occupancy rate across Turkey was 33.4 percent in the first half of 2020, during the peak period of the coronavirus pandemic, down...
Business

Saudi Arabia pressuring local businesses to avoid trade with Turkey: report

Saudi Arabia is pressuring local businesses not to do business with Turkey and is detaining trucks carrying fresh fruits and vegetables at the border...
Business

Turkish parliament allows Erdoğan to extend layoff ban until July 2021: report

Turkey’s parliament on Thursday approved a law allowing President Recep Tayyip Erdoğan to extend a layoff ban imposed to combat the economic impact of...
Business

Turkish economy expected to contract this year, rebound next: Reuters poll

Turkey’s economy is expected to contract this year for the first time in more than a decade as the coronavirus pandemic and related restrictions...
Business

Turkey’s consumer confidence dives deeper into pessimistic territory in July

Turkey's consumer confidence index fell to 60.9 points in July from 62.6 the previous month, dropping deeper into pessimistic territory, Turkish Statistical Institute data...
Business

Turkey’s central bank holds interest rates steady due to inflation risk

Turkey's central bank said on Thursday that a recent increase in inflation meant there were risks it could overshoot its year-end projection, as it...
Business

Turkey overtakes Russia as world’s largest gold buyer amid strained US relations

Turkey has overtaken Russia as the world's largest purchaser of gold amid concerns that it could be barred from dollar settlements over cooling ties...
Business

Turkey’s external debt up to one-year maturity at $169.5 bln at end of May: central bank

Turkey's central bank said on Monday the country's external debt maturing in a year or less stood at $169.5 billion, up nearly $5 billion...
Business

EU decides to keep travel restrictions with Turkey in place after biweekly review

The European Union has decided to keep travel restrictions with Turkey in place after their first biweekly review of coronavirus measures for travelers. The list,...
Business

Court of International Trade says Trump’s doubling tariffs on Turkish steel against law: report

US President Donald Trump’s decision to double tariffs on imports of Turkish steel, which came amid a diplomatic spat between Ankara and Washington in...
Business

Turkish gov’t posts $16 billion budget deficit in first six months: report

The Turkish government registered a budget deficit of 109.5 billion Turkish lira (some $16 billion) between January and June, the country's Treasury and Finance...
Business

Turkish state banks short foreign currencies to support lira: report

Turkish state banks have doubled their short foreign currency positions in six weeks to $8.3 billion (6.61 billion pounds) to help defend the lira,...
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