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Turkey halts four-month streak of interest rate cuts

Turkey's central bank on Thursday bowed to market pressure and halted a four-month streak of interest rate cuts that saw inflation soar and the...
Business

Turkey strikes currency swap deal with UAE as ties warm

Turkey and the United Arab Emirates said on Wednesday they had agreed a nearly $5-billion swap deal in local currencies, in a sign of...
Business

Turkey raises tax thresholds for some vehicles: report

Turkey has stepped up price thresholds for a special consumption tax on vehicles with small combustion engines while adding more categories, the Official Gazette...
Business

Turkey’s current account swung to $2.68 billion deficit in November

Turkey's current account recorded a deficit of $2.68 billion in November as expected, official data showed on Tuesday, flipping into the red after three...
Business

Turkish unemployment unchanged at 11.2 percent in November: TurkStat

Turkey's unemployment rate stood at 11.2 percent in November, unchanged from a month earlier, while a seasonally adjusted measure of labor underutilization fell 0.7...
Business

Turkey’s finance minister says they are pursuing unorthodox policies

The Turkish government has dispensed with orthodox policies and is now pursuing unorthodox ones, Turkey’s finance minister told a business group on Wednesday, the...
Business

Turkish Central Bank’s one-day $10 bln profit sparks questions

Turkey’s central bank posting an unexpected one-day profit of nearly $10 billion at the end of 2021 has left many economists wondering what caused...
Business

Turkey orders exporters to convert 25 percent of income to liras: report

Turkey will require exporters to convert a quarter of their revenue to liras, the latest step in the government’s efforts to boost its reserves...
Business

The costs of Erdoğan’s fight for Turkey’s ‘economic independence’

Turkey's consumer prices have soared by the highest rate since 2002, further undermining President Recep Tayyip Erdoğan 's unorthodox battle for his developing country's...
Business

Saudi Arabian exports to Turkey hit record high amid boycott of Turkish goods

Turkey’s imports from Saudi Arabia rose to $3 billion in the first 11 months of 2021, while exports to the country decreased to $189...
Business

Turks’ confidence in AKP economic policies declined in 2021: poll

More than 75 percent of Turks have said their confidence in the ruling Justice and Development Party (AKP)’s economic policies has decreased over the...
Business

Turkish inflation hits 19-year high in December

Turkey's annual inflation rate surged to its highest level since 2002 in December, official data showed Monday, after a currency crisis sparked by President...
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