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US delivers 4 military helicopters to Turkey

The US Embassy in Ankara on Wednesday announced the delivery of four military helicopters to Turkey. “Today, Turkish Land Forces took delivery of four more US Boeing CH-47F...
Business

Deniz Bank becomes Turkey’s 12th bank with Arab stake ownership: report

The transfer of 99.85 percent of Deniz Bank shares to the Dubai-based Emirates NBD bank has been completed, Deutsche Welle Turkish service reported on Wednesday, making...
Business

Turkey hikes natural gas prices nearly 15 percent overnight

Turkey’s Petroleum Pipeline Corporation (BOTAŞ) on Wednesday night announced that the price of natural gas would be increased by 14.97 percent for residences and 13.73 percent for...
Business

Turkey’s foreign trade deficit decreases 42.5 pct in June

The Turkish Statistical Institute (TurkStat) on Wednesday released the country’s provisional foreign trade statistics for June, which point to a 42.5 percent decrease in June 2019 compared...
Business

Volkswagen declines to confirm investment in Turkey, says location still not decided

German car manufacturer Volkswagen has said the search for a location for a new factory is still ongoing and that no final decision has yet been...
Business

Turkey’s central bank governor sees room for more interest rate cuts

Turkey’s central bank cut its inflation forecasts on Wednesday and new governor Murat Uysal said it has “considerable” room for maneuver on interest rates in coming...
Business

Turkey begins transferring central bank legal reserves to treasury, economist says

Turkish economist Uğur Gürses has claimed that TL 21 billion ($3.77 billion) in the central bank’s legal reserves were transferred last Thursday to the treasury. The sum represents...
Business

Interest rates will be lowered further, Turkey’s finance minister says

Turkey will see a downward trend in interest rates in the coming days, the country's finance and treasury minister said on Tuesday, according to the Hürriyet...
Business

Energy prices in Turkey increased 300 percent in last 16 years: watchdog

Turkey’s Chamber of Electrical Engineers (EMO) has announced that energy prices have increased by more than 300 percent in the last 16 years, making Turkey first...
Business

Erdoğan says interest rate cut not enough, promises more

Turkish President Recep Tayyip Erdoğan has said an interest rate cut of 425 basis points by the country’s central bank on Thursday is not enough and...
Business

Turkey’s central bank lowers interest rates by 425 basis points

Turkey’s central bank sharply cut its key interest rate by a more than expected 425 basis points to 19.75 percent on Thursday to spur a recession-hit...
Business

EIB to restrict Turkey lending in line with EU ‘punishment’ for Cyprus drilling

The European Investment Bank (EIB) will not do any new lending in Turkey linked to the government until at least the end of the year while...
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