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Business

Turkey’s unemployment rate drops below 14 pct but still high after recession: report

Turkey's unemployment rate edged down to 13.8 percent in the August-October period, from 14.0 percent a month earlier, according to official data on Monday that suggested jobs...
Business

Turkey’s industrial production rises for second consecutive month: report

Turkish industrial production rose for the second month in a row in October after a year of declines as the economy recovers from recession, though the...
Business

Turkey’s central bank cuts interest rate by 200 basis to 12 pct: report

Turkey’s central bank cut its policy rate by 200 basis points to 12 percent on Thursday, a bit more than expected according to Reuters, and suggested...
Business

Turkish banks to see more asset quality weakening, says Fitch Ratings report

Turkey’s banks are set to continue suffering from exposure to troubled industries such as the construction sector and energy, the Ahval news website reported, citing a Fitch...
Business

Turkey adjusts reserve rules to channel more loans to production sectors: report

Turkey’s central bank on Monday adjusted the reference values on loan growth needed for banks to be subjected to lower required reserve ratios, saying the move...
Business

Turkcell signs €500 mln loan MOU with Chinese bank

Turkey’s leading mobile phone operator Turkcell signed a memorandum of understanding for a 500 million euro loan agreement with the China Development Bank, the Turkish company...
Business

Turkish Central Bank expected to cut key interest rate to 12.5 pct: report

Turkey’s central bank is expected to cut its key interest rate to 12.5 percent from 14 percent next week, sustaining an easing cycle designed to revive...
Business

Turkey’s construction sector expects revival in third quarter of 2020

Turkey's construction sector is expected to revive in the third quarter of next year, said the head of the Anatolian Side Contractors Association, a construction group operating on...
Business

Turkey’s banking watchdog eases rules on $8 mln in debt: report

Turkey’s banking regulator has eased measures on how banks classify credit to once-troubled companies, helping lenders to potentially avoid adding more non-performing loans to their books,...
Business

Turkey’s Treasury takes over 58.5 pct stake in Vakıfbank: report

The Turkish Treasury is taking over a 58.5 percent stake in the state-owned Vakıfbank from the General Directorate of Foundations, according to a presidential decision published...
Business

Turkey’s inflation rises in November, reversing downward trend

Turkey’s rate of inflation rose in November, reversing a year-long downward trend and creating a quandary for the country’s central bank, the Financial Times reported. Consumer...
Business

Turkish economy grew 0.9 percent in Q3: report

Turkey's economy grew 0.9 percent year-on-year in the third quarter, breaking three consecutive quarters of contraction as it shook off a recession that followed...
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