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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...
Business

Turkish gov’t asks retailers to implement price freezes ahead of elections

Turkey's finance minister, Nureddin Nebati, has asked clothing and shoe stores to launch their discount season ahead of the usual March date, following a...
Business

Russians were top foreign buyers of houses in Turkey in 2022

Turkish home sales to foreigners rose by 15.2 percent in 2022 compared to the previous year, data from the Turkish Statistical Institute (TurkStat) showed...
Business

Turkey’s unemployment remained unchanged at 10.2 percent in November

Turkey’s unemployment rate was unchanged month-on-month at 10.2 percent in November, while a seasonally adjusted measure of labor underutilization rose 0.5 percentage points to...
Business

Turkey’s current account deficit expected to reach $48 billion in 2022: report

Turkey is expected to record a current account deficit of $4.1 billion in November, a Reuters poll showed on Friday, while the deficit was...
Business

Inflation rate in Turkey drops sharply to 64.3 percent

Turkey's annual rate of inflation slowed for a second month in December after previously hitting a two-decade high, Agence France-Presse reported, citing official data...
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