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Turkey studies new taxes worth $7 billion that target corporates: report

Turkish lawmakers have drafted new tax proposals aimed mostly at companies, seeking to repair a budget buffeted by last year’s earthquakes, in what would...
Business

Turks struggle to afford Eid al-Adha sacrificial animals amid high inflation

Turkish families are struggling financially to perform the traditional Eid al-Adha sacrifice of animals since high inflation has made it increasingly difficult for local...
Business

Turks spent the most on housing in 2023: TurkStat

Households in Turkey spent the largest part of their budget, 23.9 percent, on housing in 2023, according to data from the Turkish Statistical Institute...
Business

Turkey’s unemployment rate drops to 8.5 percent in April: TurkStat

Turkey's unemployment rate fell 0.1 percentage points month-on-month to 8.5 percent in April, according to Turkish Statistical Institute (TurkStat) data. TurkStat released its “Labor Force...
Business

Turkey imposes 40 percent tariff on vehicle imports from China: report

Turkey will impose a 40 percent additional tariff on imports of vehicles from China to halt a possible deterioration of its current account balance...
Business

Despite skyrocketing inflation, finance minister sees Turkey on the way to stabilizing economy

Turkish Finance Minister Mehmet Şimşek gave an overview of his first year in office on Wednesday, expressing confidence in the government's economy strategy despite...
Business

Turkey’s inflation exceeds 75 percent but peak in sight

Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living...
Business

Final spurt before rate hikes bite? Turkey outpaces China in 1st quarter growth

Turkey’s economy experienced a rapid surge in growth in the first quarter of the year, outpacing China with one of the world’s fastest growth...
Business

Turkey’s hunger threshold keeps extending lead over minimum wage

Turkey’s hunger threshold for the month of May increased to TL 19,926 ($618), extending its lead over the minimum wage of TL 17,002 ($527),...
Business

BP-owned pipeline continues to supply crude to Israel through Turkey

Millions of barrels of Azerbaijani crude continue to fuel Israel’s war machine thanks to the Baku–Tbilisi–Ceyhan (BTC) pipeline, which runs through Turkey to the...
Business

Turkish central bank’s reserve buildup impacts lira stability: report

Turkey's central bank is shifting strategies to prevent the lira from appreciating too much, a move that involves injecting large amounts of liquidity into...
Business

Turkish lira favored by BofA strategists, with potential for 10 pct returns: report

The Turkish lira is the top pick among currencies in eastern Europe, the Middle East and Africa, according to Bank of America Corp. (BofA)...
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