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Turkey’s trade deficit jumps 38 percent to $14.2 billion in January

Turkey's foreign trade deficit widened 38.4 percent year-on-year to $14.24 billion in January, Reuters reported, citing official data on Monday, with imports surging 20.7...
Business

Turkey cuts key interest rate to aid earthquake recovery

Turkey's central bank on Thursday dropped its key interest rate by half a percentage point to 8.5 percent, saying the cheaper borrowing cost would...
Business

Earthquake to deepen Turkey’s economic woes

Turkey was already battling runaway inflation and relying on rich allies for funding to keep its economy afloat when a massive earthquake killed tens...
Business

Pro-Erdoğan businessman who donated $164 mln for quake relief granted sizable incentives

The Turkish government has provided several incentives to the pro-government Cengiz Holding, which donated TL 3.1 billion ($164 million) for relief efforts following a...
Business

JPMorgan estimates Turkey direct quake damage at $25 bln, expects rate cut

Direct costs from the destruction of physical structures in Turkey from the devastating earthquake on Feb. 6 could amount to 2.5 percent of gross...
Business

Investors in quake-stricken region lost 5.4 billion lira due to delayed closure of İstanbul Stock Exchange: report

Due to the delayed closure of the İstanbul Stock Exchange (BIST) in the aftermath of a powerful earthquake on Feb. 6, small investors in...
Business

World Bank announces $1.78 billion in aid to Turkey for recovery after earthquake

The World Bank on Thursday announced $1.78 billion in aid to Turkey to help relief and recovery efforts after a massive earthquake hit the...
Business

Turkey, Syria quake could cost $4 bn: ratings agency

The earthquake that has devastated Turkey and Syria could cause economic losses exceeding $4 billion, ratings agency Fitch said on Thursday, Agence France-Presse reported. More...
Business

İstanbul exchange shuts for first time in 24 years

The İstanbul stock exchange announced on Wednesday that it would close for five days in response to this week's deadly earthquake, the first such...
Business

Appearance of Turkey’s economy ‘really frightening,’ independent research group says

An independent inflation research group has said in an analysis that the appearance of Turkey’s economy is “really frightening,” mainly due to the government’s...
Business

US Treasury undersecretary to address sanctions evasion in UAE and Turkey: report

The top sanctions official from the US Treasury Department, Brian Nelson, will travel to Turkey and the Middle East next week to warn countries...
Business

Lira gaining value would slow industry, raise unemployment: Turkey’s finance minister

Turkey’s Treasury and Finance Minister Nureddin Nebati has said that if the Turkish lira gains in value against the US dollar, it would slow...
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