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Sock company with $50 million turnover transferred to TMSF due to Gülen links

One of the five largest sock companies in Turkey, Akın Çorap, which has an annual turnover of $50 million, has been transferred to Turkey’s...
Business

Erdoğan’s son sells tankers for $75 million

The BMZ Group, owned by President Recep Tayyip Erdoğan’s son, brother and brother-in-law, has sold five tankers for $75 million. Maritime news website Deniz Haber...
Business

Columnist claims İstanbul, Ankara mayors repatriated $1 bln to Turkey after MİT interrogations

Ahmet Takan, a columnist for the Yeni Çağ daily, claimed on Thursday that two prominent mayors in İstanbul and Ankara were forced to transfer...
Business

Turkey approves legislation to open 2 more border gates with Iran

The Turkish Parliament on Wednesday approved a bill to open two more border gates at the Turkey-Iran border. According to the legislation, the two gates...
Business

Turkish jobless rate hits 12.1 pct, highest since March 2010

Turkey’s unemployment rate rose from 10.5 percent to 12.1 percent year-on-year in November 2016, the highest figure since March 2010, when it was recorded...
Business

Treasury stakes in THY, Halkbank also transferred to Wealth Fund

The Turkish government has announced that following the transfer of Treasury stakes in a number of top companies to the newly established Wealth Fund...
Business

Turkey transfers state shares in major companies to Wealth Fund

Shares belonging to the Turkish Treasury in a number of companies including Ziraat Bank, the Turkish Petroleum Corporation (TPAO), satellite network TÜRKSAT, the Petroleum...
Business

IMF warns about uncertainty in Turkey

Growth in Turkey is projected to be below potential in 2016-2017, estimated at around 3.5 percent, due to political uncertainty, despite a strong performance...
Business

Trustees appointed to companies of 32 purge victims

Trustees were appointed on Friday to the companies of 32 people who are partners in various companies in Turkey’s Aegean province of Uşak due...
Business

Turkey’s annualized inflation hits 9.22 percent in January 2017

Turkey‘s inflation rate increased in January by 2.46 percent over the previous month, with the consumer price index coming in at an annualized 9.22...
Business

S&P downgrades rating of 4 Turkish banks after revising Turkey’s outlook to negative

International rating agency Standard and Poor’s (S&P) downgraded the rating of İş Bank, Vakıf Bank, Yapı Kredi Bank and Garanti Bank on Tuesday following...
Business

Turkey’s tourism revenues drop by 29.7 percent in 2016

Turkey earned $22.1 billion in tourism revenues in 2016, 29.7 percent less than the country's tourism revenues in 2015, data released by the Turkish...
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