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Turkey’s 12-month cumulative current account records first surplus in 17 years

Turkey's 12-month cumulative current account recorded a surplus in June for the first time in nearly 17 years, data from the central bank showed on Friday,...
Business

Turkey’s central bank dismisses chief economist, department managers: report

Turkey’s central bank has dismissed its chief economist, Hakan Kara, and some department managers, according to a document seen by Reuters, re-igniting concern about political interference...
Business

Lira reaches four-month high thanks to thaw in Turkey-US relations

The Turkish lira continued its winning run against peers on Thursday, firming to its strongest level since early April thanks to a thawing of Turkey-US relations...
Business

Canada-based firm denies Turkish protestors’ claims over planned gold mine: report

Canada-based Alamos Gold has prepaid for reforestation at its mine project in western Turkey, its chief executive told Reuters amid growing criticism, adding that it was...
Business

Turkey becomes world leader in tax on cigarettes

An increase in the special consumption tax introduced by Turkey’s government in July has caused taxation on cigarettes to jump to 87 percent, higher than the same...
Business

Turkey’s central bank raises reserve requirement on forex deposits

Turkey’s central bank has increased the reserve requirement ratios on forex deposits and participation funds by 100 basis points for all maturity brackets, in a move...
Business

Turkey’s inflation rises below expectations in July: report

Turkey's inflation rose a bit less than expected to 16.65 percent in July after tax cuts on some goods expired, briefly disrupting a downward trend that...
Business

Turkish automotive sales drop 66 percent year-on-year in July

Sales of passenger cars and light commercial vehicles in Turkey slid 66 percent year-on-year in July to 17,927 vehicles, the Automotive Distributors’ Association (ODD) said on...
Business

Turkish state bank lowers interest rates on loans: report

Turkish state lender Ziraat Bank said on Thursday that it had lowered its interest rates on housing, consumer and corporate loans as of Aug. 1, Reuters...
Business

US delivers 4 military helicopters to Turkey

The US Embassy in Ankara on Wednesday announced the delivery of four military helicopters to Turkey. “Today, Turkish Land Forces took delivery of four more US Boeing CH-47F...
Business

Deniz Bank becomes Turkey’s 12th bank with Arab stake ownership: report

The transfer of 99.85 percent of Deniz Bank shares to the Dubai-based Emirates NBD bank has been completed, Deutsche Welle Turkish service reported on Wednesday, making...
Business

Turkey hikes natural gas prices nearly 15 percent overnight

Turkey’s Petroleum Pipeline Corporation (BOTAŞ) on Wednesday night announced that the price of natural gas would be increased by 14.97 percent for residences and 13.73 percent for...
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