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Ministry approves Kanal İstanbul’s environmental impact assessment report

Turkey’s Ministry of Environment and Urbanization has approved the environmental impact assessment report (ÇED) for the Kanal İstanbul project, an artificial sea-level waterway bisecting the European side...
Business

European bank seeks to increase investment in Turkey’s railways

Europe’s Bank for Reconstruction and Development (EBRD) expects to increase its €1 billion of investment in Turkey in the coming year, with railways slated to get...
Business

Turkey’s central bank cuts interest rates to 11.25 pct: report

Turkey’s central bank trimmed its key interest rate by 75 points to 11.25 percent on Thursday as expected, its most restrained move since it began easing...
Business

Hyundai suspends production in Turkey for a month due to plummeting sales

Hyundai Motor Co.’s car plant in Turkey, which is a production base for the European market, will halt operations for 30 days as the company’s sales...
Business

Turkish housing sales dropped 1.9 percent in 2019: TurkStat

Housing sales in Turkey dropped by 1.9 percent, or 26,669 units, last year compared to the previous year, the state-run Anadolu news agency reported on Wednesday, based...
Business

Turks highest-spending tourists in Greek border regions: report

Turkish tourists were the highest-spending foreign tourists in the Greek border regions of East Macedonia and Thrace in the first three quarters of 2019, the Hürriyet Daily...
Business

Turkey’s budget posts deficit of $21 bln in 2019, despite use of legal reserves

Turkey’s central budget showed a deficit of TL 123.7 billion ($21 billion) in 2019, TL 30.8 billion of which was recorded in December, the Diken news...
Business

Turkish religious authority issues fatwa allowing gov’t to take out interest-bearing loans

A new fatwa from Turkey’s top religious authority on Tuesday said the government was allowed to take out loans with interest for its public housing projects,...
Business

Turkish startup receives $40 mln injection from Silicon Valley investor

A Turkish startup offering ultrafast deliveries has secured almost $40 million in funding from a group of investors led by Silicon Valley venture capitalist Michael Moritz, in...
Business

Turkey’s industrial production grew 5.1 percent in November: report

Turkish industrial production picked up pace in November, growing 5.1 percent year-on-year in a third consecutive month of expansion, official data showed on Tuesday, as the...
Business

Turkey stocks trade near record as investors seek riskier assets: report

Turkish stocks continued their rally Monday as a deep discount to emerging-market peers and an improved outlook from the country’s banks enhanced their appeal to investors with...
Business

Turkey says foreign firms interested in controversial Kanal İstanbul project

Dutch, Belgian and French companies are interested in a massive canal project on the edge of İstanbul, Turkish state media cited Transport Minister Cahit Turhan as...
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