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Finance minister says Turkey ‘determined’ not to raise interest rates

Turkey is determined to not raise interest rates, its new finance minister said on Monday, echoing President Recep Tayyip Erdoğan’s policy that has put...
Business

Turkish unemployment drops to 11.2 percent, underutilization rate increases

Turkey’s unemployment rate declined to 11.2 percent in October, from 11.8 percent a month earlier, while a seasonally adjusted measure of labor underutilization rose...
Business

Turks are buying up pricey new cars for resale at inflated prices in second hand market 

People in Turkey are buying expensive new cars, not for personal use but rather to sell at a higher price in the used car...
Business

Turkish inflation to surpass 25 pct in 2022: Moody’s

Turkey could see consumer price inflation climb to over 25 percent in the coming months, with another potential interest rate cut by the country’s...
Business

Lira’s decline prompts intervention by Turkey’s central bank

The Turkish Central Bank said it intervened in the foreign exchange market on Friday to sell dollars as the lira again neared a record...
Business

Turkey’s ruling AKP to submit bill to avert stockpiling amid skyrocketing prices

The ruling Justice and Development Party (AKP) is preparing to submit legislation designed to avert stockpiling of goods amid the country’s ongoing price hikes...
Business

Apple to raise App Store prices in Turkey, citing exchange rate changes

Apple will raise the price of apps and in-app purchases on its App Store in Turkey due to exchange rate changes, according to an...
Business

Turkey’s central bank to further cut policy rate in December, January: report

The Turkish Central Bank (TMCB) will cut its key interest rate by 300 basis points to 12 percent in its two upcoming meetings, and...
Business

Qatar and Turkey extend currency swap deal

Qatar and Turkey have announced they agreed to extend a currency swap deal between their central banks, as Ankara's lira has plunged in value...
Business

Turkish crypto boss accused of fraud detained in southern Turkey

Kenan Altun, one of the founders of an IT company implicated in cryptocurrency fraud, has been detained by the cyber crime police in Antalya,...
Business

131 new names from Turkey revealed in Pandora Papers

One hundred thirty-one new names from Turkey have been identified in the Pandora Papers, a leak of some 12 million documents that reveal hidden...
Business

Turkey’s central bank steps in again to contain lira’s decline

The Turkish Central Bank (TCMB) has meddled with the foreign exchange markets by injecting dollars for the second time this week to stop the...
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