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Turkey hikes VAT rates, consumer loan tax and other fees

Turkey has increased its value-added tax by 2 percentage points in two categories while also raising the tax collected from lending institutions on consumer...
Business

Turkey in talks to sell İzmir port operating rights to Gulf investors: report

Turkey is negotiating with Gulf Arab countries to sell the operating rights for Alsancak Port in the Aegean city of İzmir, in what would...
Business

Turkey’s ruling AKP proposes tax hikes, public servant salary increases amid economic challenges

Turkey's ruling Justice and Development Party (AKP) has proposed a comprehensive bill to parliament raising motor vehicle and corporate taxes in addition to increasing...
Business

Turkey’s inflation rate slows to 38.2 percent

Turkey's annual inflation rate slowed to 38.2 percent in June, official data showed Wednesday, although economists warned that this may be a low point...
Business

Erdoğan to embark on Gulf tour to attract investment to Turkey: report

Turkish President Recep Tayyip Erdoğan is set to embark on a tour of Gulf countries, looking to attract investment and other financial resources that...
Business

Turkish state lenders boost lira amid central bank’s pledge not to intervene: report

Turkish state-run banks have sold nearly $1 billion in foreign currency to prop up the lira, Bloomberg reported on Monday, after a recent statement...
Business

Independent research group shows Turkey’s annual inflation at 108 pct in June

An independent inflation research group has announced that June consumer prices in Turkey recorded a monthly increase of 8.54 percent and an annual increase...
Business

Turkey’s manufacturing expands in June, cost pressures build: report

Turkish factory activity expanded at a steady pace in June, although new orders growth slowed and price pressures grew as the currency weakened, Reuters...
Business

Turkish lira at new low after rollback of bank rules: report

The Turkish lira slid 1.8 percent to a fresh record low against the US dollar on Monday after the central bank took steps to...
Business

Turkish central bank delivers big rate hike to 15 percent but U-turn still underwhelms: report

Turkey's central bank hiked its key rate by 650 basis points to 15 percent on Thursday and said it would go further, in a...
Business

Turkey anticipates investments from Gulf following talks in UAE, say sources: report

Turkey is optimistic about securing significant investments from the United Arab Emirates (UAE) and Saudi Arabia in its energy and defense sectors after high-level...
Business

Turkey expects drastic interest rate hike to fight inflation and stabilize lira amid economic crisis

Turkey is widely expected to back away Thursday from President Recep Tayyip Erdoğan's years-long unconventional economic policy and drastically raise interest rates to fight...
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