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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...
Business

Turkey’s inflation nears 60 percent, piling pressure on new team

Turkey's annual inflation approached 60 percent last month, official data showed Monday, putting pressure on the central bank to further hike interest rates at...
Business

Turkey eliminates duty on agricultural imports from UAE

Turkey will waive duty on agricultural imports from the oil-rich United Arab Emirates (UAE) up to designated quotas as part of an agreement signed between...
Business

Turkey’s economy expanded 3.8 percent in Q2, but set to slow: report

Turkey's economy grew by a more-than-expected 3.8 percent in the second quarter due to strong household spending, data showed on Thursday, but activity should...
Business

Dubai World Ports acquires 58 percent stake in Turkish port: report

Dubai World Ports on Tuesday announced its acquisition of a 58 percent stake in Turkey's Evyap Port, situated in western Kocaeli province, the Al...
Business

Turkish banks post net profit of $10.9 billion in first 7 months of 2023

Turkey's banking regulator said Tuesday that Turkish banks posted a net profit of 293.4 billion Turkish lira ($10.9 billion) in the January-July period, the...
Business

Economist criticizes Turkey’s financial management despite recent interest rate hike

Daron Acemoğlu, a prominent professor of economics at the Massachusetts Institute of Technology (MIT), on Sunday acknowledged that the Turkish Central Bank's recent interest...
Business

After Turkey’s giant rate hike, foreign investors mull return: report

Turkey's latest massive interest rate hike has caught the attention of long-skeptical foreign investors who say they could return to Turkish assets if authorities...
Business

Turkish lira surges after Erdoğan backs huge rate hike

Turkey's troubled lira surged Thursday after the central bank delivered a much larger than expected interest rate hike that broke free from President Recep...
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