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Net profit of Turkish banks up 39 percent in January-August period

The Turkish banking sector’s net profit was up 39 percent year-on-year in the first eight months of 2023, the state-run Anadolu news agency reported...
Business

Turkey’s foreign trade deficit reaches nearly $110 bln in past year

Turkey has seen its foreign trade deficit soar to nearly $110 billion in the past year, local media reported on Friday, citing data generated...
Business

Turkey sees a boom in tourist arrivals in first 8 months of 2023

The number of foreign visitors to Turkey jumped 19.4 percent in the first eight months of 2023, compared to the same period last year,...
Business

Turkey’s BOTAŞ signs deal to export natural gas to Romania’s OMV Petrom

Turkey's state-run energy company BOTAŞ announced Wednesday that it has secured a contract to supply Romania with up to 1.5 billion cubic meters (bcm)...
Business

Turkey’s finance minister calls for ‘patience’ to reverse economic deterioration

Turkish Finance Minister Mehmet Şimşek has called for patience as his new group of technocrats try to reverse years of economic mismanagement and restore...
Business

TÜPRAŞ leads Turkey’s Top 500 Industrial Enterprises 2022 list

Oil refiner TÜPRAŞ ranked first on the Istanbul Chamber of Industry’s (İSO) Top 500 Industrial Enterprises 2022 list with production-based sales worth TL 418.4...
Business

Turkey signed €895.7 million loan agreement with World Bank: finance minister

Turkey's Treasury and Finance Minister Mehmet Şimşek has announced the signing of a €895.7 million (TL 25.8 billion) loan agreement with the World Bank,...
Business

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,...
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