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Turkish central bank keeps key interest rate unchanged at 50 percent

Turkey’s central bank on Tuesday kept its key interest rate unchanged for the fourth month in a row, with annual inflation recorded at over...
Business

Iraq to import electricity from Turkey

Iraq said Sunday a new power line will bring electricity from Turkey to its northern provinces as authorities aim to diversify the country's energy...
Business

Moody’s lifts Turkey’s credit rating on governance improvement

Moody's said Friday that it has upgraded Turkey's credit rating on improved governance and progress on inflation, while maintaining the country's outlook as "positive,"...
Business

Turkish gov’t fails to meet expectations in minimum pension hike, sparking backlash

Turkey's ruling Justice and Development Party sent a bill to parliament on Tuesday that would raise the monthly minimum pension by 25 percent, to...
Business

Turkey’s poverty line nears $2,000, quadruple the minimum wage

Turkey’s poverty line has risen to 65,874 lira ($1,993), as millions in the country struggle to make ends meet on a minimum wage of...
Business

Turkey is seeking to cut costs of F-16 deal with US: report

Turkey is scaling back a planned $23 billion defense contract with the US to modernize NATO’s second largest fleet of F-16 fighter jets and...
Business

Turkey tops list of average growth in wealth per adult between 2022-2023: UBS report

A recent report by UBS, a Zurich-based global firm providing financial services in over 50 countries, has placed Turkey at the top of a...
Business

Turkey’s unemployment rate dropped to 8.4 percent in May: TurkStat

The unemployment rate in Turkey dropped to 8.4 percent in May, a 0.1 percentage point decrease, official figures from the Turkish Statistical Institute (TurkStat)...
Business

Turkish holiday destinations lose allure amid skyrocketing inflation

Turkey's popular holiday destinations, including the coastal resorts of Çeşme, Bodrum and Antalya, are experiencing a significant decline in tourist activity this summer due...
Business

3 leading labor unions in Turkey push for decent wages amid economic woes

The presidents of three major labor unions in Turkey have made a joint call to the government to increase wages and pensions by a...
Business

China’s BYD signs deal to open electric car plant in Turkey

China's electric vehicle giant BYD on Monday signed an agreement to open a plant in Turkey, in a move that will help it dodge...
Business

Turkish central bank governor ‘extremely determined’ to tame inflation: report

Turkey's central bank is determined to combat soaring prices and will stick patiently to its tight policy stance, Governor Fatih Karahan told Reuters, as...
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