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Turkey’s central bank reduces interest rates to single digits, announces coronavirus measures: report

Turkey’s central bank cut its key interest rate by a full percentage point to single digits and announced a series of measures to boost liquidity amid...
Business

Azeri-Turkish shipping magnate arrested over Gülen links: report

Azeri-Turkish businessman Mubariz Mansimov Gurbanoğlu has been arrested in one of the highest-profile detentions of a crackdown against suspects linked to a network accused...
Business

Prominent Turkish-Azeri businessman detained in İstanbul over Gülen links

İstanbul police on Sunday detained Mubariz Mansimov Gurbanoğlu, a prominent Turkish-Azeri businessman, as part of an investigation into the Gülen movement, the pro-government Hürriyet newspaper reported. The financial...
Business

Turkish exports to Russia increase by 26 pct in first 2 months of 2020: report

Turkey’s exports to Russia hit over $700 million in the first two months of the year, a 26 percent increase over the same period of 2019,...
Business

House sales in Turkey jump 51.4 percent in February year-on-year: report

House sales in Turkey continued their upward trend, jumping 51.4 percent in February year-on-year, the country’s statistical authority announced on Monday, according to the state-run Anadolu...
Business

Turkey pledges to support financial markets during coronavirus crisis: report

Turkey promised on Monday to support financial markets facing a liquidity crunch as the lira and stocks tumbled again, raising expectations of broader fiscal and monetary...
Business

Turkey posts 7.9 percent increase in January’s industrial output

Turkey's industrial output rose 7.9 percent year-on-year in January, the country's statistical authority said on Friday, according to the state-run Anadolu news agency. Among the three main...
Business

Coronavirus may exhaust Turkey’s opportunities for economic recovery: report

Turkey, which unleashed a massive stimulus to recover from a 2018 currency crisis, is poised to stretch its central bank and public finances even more to...
Business

Turkish lira continues losing value due to coronavirus concerns: report

The Turkish lira extended losses on Thursday as concern intensified among the public about the spread of the coronavirus, the Ahval news website reported. The lira dropped...
Business

Turks begin panic buying in several cities after first COVID-19 case

After the Turkish health minister announced the first case of novel coronavirus yesterday, Turks reportedly began inundating supermarkets in several provinces, including İstanbul, as...
Business

Coronavirus outbreak delays Chinese refinance of İstanbul bridge loan: report

The novel coronavirus outbreak threw off track a major loan deal that Chinese banks were arranging in Turkey, a sign that the virus’s spread could slow...
Business

Turkish opposition says unemployment numbers higher than announced

Turkey’s main opposition party has claimed that the country’s unemployment rate was around 17 percent in December, instead of the 13.7 percent that was announced by...
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