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Fitch holds Turkey rating at BB, outlook negative

Ratings agency Fitch on Friday kept Turkey's credit rating at "BB" with a negative outlook. The Turkish economy is navigating out of a "sharp depreciation"...
Business

846 Turkish firms have applied for debt restructuring to date: minister

Commerce Minister Ruhsar Pekcan has announced that applications from 846 Turkish companies for konkordato, a legal process for restructuring debt, have been accepted so...
Business

Turkey’s central bank keeps interest rates unchanged

Turkey’s central bank left its benchmark interest rate unchanged on Thursday, as expected, easing investor concerns over an early loosening after inflation eased from...
Business

Google announces ‘dollar’ ranked first among words searched by Turks in 2018

Popular search engine Google announced its annual national and global search statistics in which Turkey’s most searched word has been “dollar,” the Habertürk newspaper...
Business

Turkey passes regulation to cut down on plastic bag usage

Turkey on Monday introduced a new regulation preventing shops from giving out free plastic bags with merchandise purchased. The draft bill was submitted to parliament...
Business

Turkish economic growth fades to 1.6 pct in Q3 amid currency crisis

Turkish economic growth dwindled to 1.6 percent year-on-year in the third quarter, data showed on Monday, falling short of forecasts as a currency crisis...
Business

Reuters poll expects 2.8 percent growth for Turkish economy at yearend

Turkey’s economic growth is expected to fall to 2.0 percent in the third quarter of the year and hit 2.8 percent for all of...
Business

Turkey will hold tender for Kanal İstanbul next year: Erdoğan

Turkey will hold a tender for the construction of a 45-kilometer shipping canal running parallel to the Bosporus, President Recep Tayyip Erdoğan said on...
Business

Turkey sticks with 5 pct target despite current inflation of more than 20 pct

Turkey’s central bank said on Wednesday it would stick with a 5 percent inflation target, a deeply ambitious goal after this year’s currency crisis...
Business

Wife of Boydak holding executive sentenced to prison over Gülen links

A high criminal court in the Central Anatolian province of Kayseri on Tuesday handed down a prison sentence to the wife of an executive...
Business

S&P: Turkish banks’ bad loans may double in next 12-18 months

Rating agency S&P Global expects the number of bad loans on the books of Turkish banks to double over the next 12 to 18...
Business

Tax cuts, discounts force Turkey’s inflation down in November

Turkey’s consumer price index fell 1.44 percent month-on-month in November, official data showed on Monday, bringing the annual inflation rate down from a 15-year...
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