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S&P upgrades Turkey’s credit rating to BB-

Standard and Poor's upgraded Turkey's long-term sovereign credit rating on Friday from B+ to BB-, with the agency noting economic progress thanks to the...
Business

Turkey’s overworked ATMs break down under ‘worthless’ lira banknotes: report

The depreciation of Turkey's lira has led to unexpected challenges, with ATMs across the country breaking down under the weight of increasingly depreciated banknotes,...
Business

Turkey to return state banks’ capitalization measure to former level: report

Turkey is reducing the limit on state banks' usage of special government bonds issued for capital increases to former levels, in the latest step...
Business

Pro-Erdoğan corporation continues steel exports to Israel via exclusive customs facility

A pro-government conglomerate in Turkey continues to export steel to Israel through a dedicated customs zone established within one of its factories, investigative journalist...
Business

Turkey’s central bank again keeps key interest rate steady at 50 percent

Turkey’s central bank on Thursday kept its key interest rate unchanged for the seventh month in a row, with annual inflation announced at around...
Business

Turkey retains position as Europe’s top coal-fired power system: report

Turkey has spent eight of the first nine months of 2024 as Europe's largest producer of coal-fired electricity, overtaking Germany and Poland as it...
Business

Uganda signs rail building deal with Turkish construction firm: report

Uganda's government and Turkish construction firm Yapı Merkezi have signed a contract to build a 272 kilometer (169 mile) section of railway in a...
Business

Turkish gov’t seeks to introduce new tax to fund defense industry

The Turkish government is planning to impose a new tax on credit cards that is designed to fund the defense industry, Agence France-Presse reported. As...
Business

Israeli shipping giant ZIM continues operations in Turkey despite ban

Vessels belonging to Israeli shipping firm ZIM remain active in Turkish waters despite a trade ban Turkey imposed on Israel in May due to...
Business

IMF says Turkey should continue tight monetary policy until inflation at target: report

The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV...
Business

German companies allegedly circumvent Russia sanctions via Turkey: report

Despite international sanctions on Russia due to its ongoing war on Ukraine, German engineering companies continue to export industrial goods to Russia mostly via...
Business

Turkey’s unemployment rate fell to 8.5 percent in August: TurkStat

Turkey's unemployment rate declined 0.3 percentage points to 8.5 percent in August compared to the previous month, the state-run Anadolu news agency reported, citing...
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