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Iraq finalizes deal to resume Kurdish crude exports to Turkey

Iraq's federal and Kurdish governments have finalized a deal to resume crude oil exports through Turkey pending a response from Ankara, Agence France-Presse reported,...
Business

Turkey defers $600 million Russian energy payment under deal: report

Turkey has deferred payment to Russia of a $600 million natural gas bill to 2024, Reuters reported, citing two sources on Wednesday, the first...
Business

Erdoğan announces 45 pct hike in public servant wages days before tight vote

Turkish President Recep Tayyip Erdoğan has announced a 45 percent increase in the wages of some 700,000 public servants, the latest in a series...
Business

Turkey’s inflation slows to 44 percent ahead of critical elections

Turkey’s annual inflation slowed to 43.68 percent in April, official data showed on Wednesday, easing ahead of elections that polls show President Tayyip Erdoğan...
Business

Turkey’s central bank sells gold to support diminishing FX reserves amid lira pressure

Bünyamin Tekin As Turkey's central bank struggles to stabilize the lira before May elections, it has resorted to selling gold to support its rapidly diminishing foreign...
Business

Turkey sets 130 percent duty on wheat, barley, corn imports

Turkey has announced that it will impose a 130 percent tariff on certain grain imports, including wheat and corn, from May 1, according to...
Business

World Bank debars Turkish banker for fraudulent practice in Dubai-based equity group

The World Bank has debarred a Turkish national for two years for misleading the International Finance Corporation (IFC), which supports a closed-end private equity fund...
Business

Turkey’s year-end inflation seen at 46 percent despite likely post-election rate hikes: poll

Turkish inflation will dip to 46.4 percent by end-2023, a Reuters poll showed on Monday, while the policy rate is seen rising to 24...
Business

Food inflation is long-term structural problem for Turkey, experts say

Experts have stated that high inflation in food prices is a long-term structural problem for Turkey, adding that permanent reductions in prices require some...
Business

Erdoğan launches Black Sea gas deliveries ahead of elections

President Recep Tayyip Erdoğan on Thursday launched Turkey's first delivery from a Black Sea gas reserve a few weeks ahead of a general election...
Business

CEO of collapsed crypto exchange detained in Turkey after extradition

Faruk Fatih Özer, the former CEO of collapsed cryptocurrency exchange Thodex, was extradited from Albania to Turkey, where he was immediately detained at İstanbul...
Business

Turkey’s central bank asks lenders to limit dollar purchases

Turkey’s central bank has asked local lenders to limit the amount of dollar purchases they make in the interbank market to ease pressure on...
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