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Local auto showrooms sustain losses when Kuwaiti-owned fleet leasing giant fails

Fleetcorp, a giant car fleet leasing company in Turkey owned by Kuwaiti businessmen, has decided to discontinue its activities after its shares in Kuwait...
Business

Energy inflation to continue upward, Turkey’s central bank says

Turkey’s energy inflation is expected to continue on an upward trend in the short term due to the outlook for natural gas and electricity...
Business

Turkish lira plunges after US decision to review duty free access

The Turkish lira reached a record low against the dollar on Monday after the Trump administration said it was reviewing Turkey’s duty-free access to...
Business

Turkey’s competition watchdog launches investigation into Google companies

Turkey’s Competition Board has launched an investigation into several Google companies after concluding in its preliminary findings that a complaint arguing its search results...
Business

Turkey’s inflation approaches 16 percent in July, highest in 14 years

Turkey’s July inflation hit its highest point in more than 14 years on Friday, reaching nearly 16 percent on an annual basis as food...
Business

$400,000 in fines imposed for overcharging tourists in Istanbul

In the first half of this year more than TL 2 million ($400,000) in fines were imposed on individuals and companies that were found...
Business

US sanctions to have limited effect on economy, minister says as lira tumbles

US sanctions imposed on Turkey over the trial of an American pastor accused of backing terrorism are unacceptable and will have limited impact on...
Business

Banks propose rule to speed up restructuring of company debt in Turkey

Turkish banks have proposed rules to speed up the restructuring of company debt and allow lenders to avoid booking problematic credit as non-performing loans,...
Business

BOTAŞ hikes natural gas prices 49.5 pct for electric power plants

Turkey’s Petroleum Pipeline Corporation (BOTAŞ) on Tuesday sent a memo to power plants that generate electricity through natural gas announcing that a 49.5 percent...
Business

Business association chair: $40 billion could buy one-fourth of Turkish companies

Abdurrahman Kaan, the head of Turkey’s conservative Independent Industrialists and Businessmen’s Association (MÜSİAD), told the state-run Anadolu news agency on Monday an entrepreneurial group...
Business

Turkey’s exports to EU countries grew by 6.4 percent in June

Turkey’s exports to European Union countries increased by 6.4 percent over the same period last year, reaching $6.6 billion in June, according to the...
Business

Turkish central bank sharply revises inflation forecast upward from 8.4 to 13.4 pct

Turkey’s central bank on Tuesday sharply raised its inflation forecast for this year and next, saying price pressures were the only factor in its...
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