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Turkey’s central bank transfers TL 40.5 billion to Treasury

The Turkish Central Bank has transferred TL 40.5 billion ($6.84 billion) to the Treasury after the government announced on Friday that December’s budget deficit represented the biggest...
Business

Turkey’s investigation into banks casts wide net over trading: report

Turkish competition officials made surprise visits to several private, state and foreign banks late on Friday to analyze computers as they opened a wide-ranging probe of...
Business

Turkey’s metal industrialists association decides to lock workers out: report

The Turkish Metal Industrialists Association said on Wednesday it had decided on a lockout after a labor union decided to go on strike following stalled negotiations...
Business

US prosecutors seek escalating fines against Turkey’s Halkbank: report

The US government said on Tuesday that Turkey's state-owned Halkbank should be subjected to escalating fines totaling millions of dollars until it responds in...
Business

899 businesses in Turkey applied for debt restructuring in 2019: report

A total of 899 Turkish companies applied for debt restructuring in 2019, a decline in number over the previous year, when the country experienced a currency...
Business

Türk Telekom fends off cyber attack, restores Internet access

Türk Telekom has restored Internet access after a cyber attack caused connectivity problems, the company said on Monday, adding that it was working to limit any...
Business

European Investment Bank to keep Turkey lending restrictions in place: report

The European Union’s lending arm, the European Investment Bank (EIB), expects to keep its lending heavily restricted in Turkey this year, as an EU row with Ankara...
Business

Treasury Minister Albayrak purchased land around route of Kanal Ä°stanbul

Turkey’s finance and treasury minister, Berat Albayrak, who is also the son-in-law of Turkish President Recep Tayyip Erdoğan, bought 3.2 acres of land around the route...
Business

Turkey’s central bank to transfer last year’s profits and reserves to Treasury

The Turkish Central Bank will transfer tens of billions of lira to the Treasury from last year’s profits and from its precautionary reserves, the Ahval news website...
Business

Leading Turkish fuel distributor StarPet goes bankrupt: report

An İstanbul court has ruled for bankruptcy for StarPet, one of Turkey’s leading fuel distribution chains, with some 320 gas stations across the country, the Diken news...
Business

Turkey’s negative interest rates likely to harm central bank’s credibility: Moody’s

Turkey’s newly negative real interest rates will likely harm the central bank’s credibility, risk hitting investor confidence and amount to a credit negative for banks’ funding,...
Business

Turkish competition authority launches probe into banks over violation in forex

The Turkish Competition Authority has launched a probe into more than 20 local and foreign banks over possible violations in foreign exchange and other services, Reuters...
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