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Turkey hikes interest rate to 20-year high

Turkey's central bank on Thursday raised its key lending rate to a 20-year high following a sudden turn towards conventional economics by President Recep...
Business

Alibaba unveils $2 billion Turkey investment at Erdoğan meeting: report

Alibaba Group Holding Ltd. announced plans to invest $2 billion in Turkey after a meeting with President Recep Tayyip Erdoğan, Bloomberg reported. The head of...
Business

Turkey casts doubt on need for new Russian gas hub

Turkey's energy minister has publicly questioned for the first time the need for a new natural gas hub that Russian President Vladimir Putin proposed...
Business

USD-lira exchange rate was fixed for a long time, we set it free: finance minister

Newly installed Finance Minister Mehmet Şimşek has said he set the USD-Turkish lira exchange rate free after it had been fixed for an extended...
Business

Turkey’s unemployment rate fell to 9.4 percent in July: TurkStat

Turkey’s unemployment rate fell to 9.4 percent in July, down by 0.2 percentage points from June, the state-run Anadolu news agency reported on Monday,...
Business

Turkey’s credit outlook upgraded to stable by Fitch

Turkey's financial standing has received an upgrade as Fitch Ratings revised the nation's long-term foreign-currency issuer default rating (IDR) outlook to "stable" from "negative,"...
Business

Turkey touts market-friendly turn in global investment roadshow

Turkey's new Wall Street-trained finance chief will kick off a global investment roadshow at the G20 summit in New Delhi on Friday to drum...
Business

Erdoğan pledges support for higher interest rates

Turkish President Recep Tayyip Erdoğan on Wednesday confirmed a major policy reversal by backing his new economic team's decision to drastically hike interest rates...
Business

World Bank in talks to double Turkey exposure to $35 billion: report

The World Bank is in advanced talks to potentially double its exposure to Turkey to $35 billion to help stabilize the Middle East’s largest...
Business

JPMorgan ups Turkey’s inflation, interest rate forecasts

Higher-than-expected inflation data for August published on Monday prompted JPMorgan to revise its year-end inflation forecast to 65 percent from 62 percent, with the...
Business

Turkey’s foreign trade deficit shrinks by 21.2 pct year-on-year in August

Turkey’s foreign trade deficit narrowed by 21.2 percent year-on-year in August to $8.875 billion, the Kısa Dalga news website reported, citing data from Turkey’s trade...
Business

Turkish Airlines to order 10 Airbus A350 jets

Turkish Airlines has decided to purchase 10 additional Airbus A350-900s aircraft, nearly doubling its existing fleet of the widebody planes, the Turkish flag carrier...
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