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Turkey’s economy contracts more than 3 pct, showing signs of recession

The Turkish economy contracted a sharper than expected 3.0 percent in the fourth quarter of 2018, its worst performance in nearly a decade and...
Business

Turkish economy to shrink 1.8 percent in 2019: OECD

The Organization for Economic Co-operation and Development (OECD) has revised its 2019 forecast for Turkey’s GDP growth, predicting a sharper downward trend than in...
Business

Turkish central bank keeps interest rates unchanged ahead of election

Turkey’s central bank kept its benchmark interest rate on hold on Wednesday, sticking to a promise to stand firm on inflation even as the...
Business

Turkish economy shrank 2.7 percent in Q4, 2018 growth below forecast: poll

Turkey's economy shrank 2.7 percent in the fourth quarter of 2018, dragging full-year growth down to a below-forecast 2.55 percent, according to a Reuters...
Business

Turkish government handing out cheap bank loans in anticipation of local elections: study

As Turkey’s municipal elections draw closer, the Turkish government has put in place several campaigns extending favorable bank loans for housing purchases in what...
Business

Automobile sales in Turkey down 47 percent in February

The sale of passenger cars and light commercial vehicles dropped 47.1 percent year-on-year in February, according to a report released by the Automotive Distributers’...
Business

Turkey to investigate 23 supermarket chains over produce prices

Turkey’s Competition Authority has launched an investigation into 23 supermarket chains to ascertain if they are engaged in unfair competition in the sale of...
Business

Turkey’s annual inflation falls below 20 percent for first time since August

Annual Turkish consumer inflation fell to 19.67 percent in February, official data showed on Monday, dropping below 20 percent for the first time since...
Business

Turkey’s banking watchdog prevents İş Bankası from distributing net profit

Turkey’s banking watchdog the BDDK has not approved İş Bankası’s application for the cash distribution of its net profit, the bank said late on...
Business

AKP deputy chairman: Lira will be valued below 5 to US dollar after local elections

Deputy chairman of the governing Justice and Development Party (AKP) Mahir Ãœnal claimed on Friday that the Turkish lira will gain in value against...
Business

Vehicle registrations in Turkey down 43 percent

The number of newly registered vehicles in January dropped 43.4 percent year-on-year, the Diken news website reported on Friday, citing Turkish Statistics Institute (TurkStat)...
Business

Turkey: Foreign trade deficit decreases over 70 percent in January

Turkey's foreign trade deficit fell 72.5 percent to $2.5 billion in January over the same month of 2018, the state-run Anadolu news agency reported...
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