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Demirören’s debt restructuring talks now cover $2 bln: report

Demirören Holding, Turkey’s largest media owner, is in talks with banks to restructure some $2 billion in loans, sources familiar with the talks said,...

The real portrait of Turkey’s economy

Turkey’s financial troubles have increased since the country was hit by the COVID-19 pandemic. Contrary to government declarations, a sudden surge in the number...

İstanbul mayor says Treasury denying permission to revive 3 stalled rail projects

İstanbul Mayor Ekrem İmamoğlu has said the city’s plans to revive three rail system projects are currently blocked by the Undersecretariat of the Treasury, the BirGün news...

Erdoğan accuses former allies of fraud over Halkbank in Şehir University saga: report

Turkish President Recep Tayyip Erdoğan on Saturday accused allies-turned-rivals of defrauding the state-owned Halkbank in a controversy over the İstanbul Şehir University, Bloomberg reported. Erdoğan leveled...

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...

Turkish regulator tells banks to write off some $8 bln in bad loans: report

A Turkish regulator on Tuesday told banks to write off 46 billion lira ($8.1 billion) in loans by yearend and set aside loss reserves,...

Bundesbank chair: Turkey currency crisis to have limited impact on German banks

The currency crisis in Turkey will have limited impact on German banks, given improvements in the overall resilience of financial systems, the head of...

Banks propose rule to speed up restructuring of company debt in Turkey

Turkish banks have proposed rules to speed up the restructuring of company debt and allow lenders to avoid booking problematic credit as non-performing loans,...

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