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Turkey to reward banks that lend more with looser reserve ratios: report

The Turkish Central Bank unveiled regulatory changes that determine the amount of cash lenders have to put aside as reserves depending on how much credit they...
Business

Erdoğan orders acceleration of nuclear power plant project

Turkish President Recep Tayyip Erdoğan has ordered in a presidential decree that an ongoing nuclear power plant project must be concluded rapidly, according to the Hürriyet...
Business

Turkish bank halts services to Venezuela in wake of US sanctions: report

Ziraat Bank, Turkey’s largest bank by assets, has stopped offering services to Venezuela’s central bank in the wake of tougher US sanctions that raise the stakes...
Business

Turkey’s central bank injected nearly $4 billion to gov’t budget in July

Turkey’s central bank transferred around 22 billion lira ($3.94 billion) to the Treasury last month, the biggest deposit since an annual dividend payment in January, according...
Business

Turkey’s industrial production falls for 10th consecutive month: report

Turkish industrial production fell for the 10th consecutive month in June, data released on Friday showed, offering few signs of a pick-up in economic growth as...
Business

Turkey’s military pension fund reaches provisional agreement to buy British Steel

Turkey’s military pension fund OYAK has reached a provisional agreement to take over British Steel, it said on Friday, adding it planned to close the deal...
Business

Turkey’s army pension fund preferred bidder for British Steel: report

The Official Receiver is to announce this week that an investment arm of Turkey's armed forces pension fund is the preferred bidder for British Steel, BBC...
Business

Turkish lira gains value, outperforming other EM currencies: report

Turkey’s lira firmed on Thursday, outperforming some other emerging market currencies, while the main stock index declined more than 2 percent after a three-day market holiday,...
Business

Turkey’s seasonally adjusted unemployment rate highest on record in April-June period

Turkey's seasonally adjusted unemployment rate climbed to its highest level on record, statistical data showed on Thursday, despite a slight fall in the April-June headline figures,...
Business

Only modest recovery expected in Turkey’s economy for 2019: report

Turkey’s economy, which suffered a currency crisis last year, is still in the doldrums and only a modest recovery is expected, according to Dutch bank ABN...
Business

Turkey receives $1 billion in funds from China under swap agreement: report

Turkey received around $1 billion in funds from China in June under a swap agreement that dates back to 2012, two people with direct knowledge of...
Business

Turkey’s central bank reduces yearend inflation expectation

The Turkish Central Bank has decreased its forecast for yearend inflation from 15.01 percent to 14.42 percent while increasing its expectation for the value of country’s national...
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