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Turkey’s budget records biggest deficit this year: report

Turkey’s central government budget swung to a deficit in September on the back of increased spending and lower corporate tax revenues, Bloomberg reported. The government...
Business

Turkey’s current account remains in deficit for 10th month: report

Turkey’s current account remained in deficit for a 10th consecutive month as the trade balance took a hit from a global rally in energy...
Business

Turkish unemployment falls to 9.6 percent in August

Turkey's unemployment rate dropped 0.4 percentage points month-on-month to 9.6 percent in August, while a seasonally adjusted measure of labor underutilization fell to 19.8...
Business

EBRD head raises ‘question marks’ over Turkey’s rate-cutting policy: report

The head of the European Bank for Reconstruction and Development (EBRD) has raised concerns with Turkish authorities for using low interest rates to boost...
Business

US Supreme Court to hear Turkish lender Halkbank’s bid to avoid charges

The US Supreme Court on Monday agreed to hear Turkish state-owned lender Halkbank's bid to avoid criminal charges of money laundering, bank fraud and...
Business

Turkey wants Russia to delay its gas payments until 2024: Bloomberg

Turkish officials have asked Russia to delay a portion of Ankara’s payments due for natural gas, according to people familiar with the matter, as...
Business

Turkey’s inflation rate hits fresh 24-year high exceeding 83 percent

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September as President Recep Tayyip Erdoğan presses for more interest rate cuts...
Business

S&P lowers Turkey’s credit rating deeper into junk territory

S&P Global Ratings downgraded Turkey’s sovereign credit rating deeper into junk territory in its latest review, citing concerns over the country’s ultra-loose monetary policy,...
Business

Germany’s new law to make human rights a key element in exports from Turkey

A German law holding companies accountable for human rights and environmental violations in their supply chains that will enter into force on Jan. 1,...
Business

Turkey’s trade deficit jumps 160 percent in August: report

Turkey's foreign trade deficit surged 159.9 percent year-on-year to $11.19 billion in August, with imports rising 40.4 percent, Reuters reported, citing data from the...
Business

Erdoğan hopes policy rate will come down to single digits by year-end

Turkish President Recep Tayyip Erdoğan on Wednesday said he hopes the central bank's monetary policy committee will deliver another cut to its policy rate...
Business

World Bank approves $512.2 mln in financing for Turkey housing and infrastructure

The World Bank approved $512.2 million in financing for Turkey to expand access to housing and infrastructure that is resilient to climate and natural...
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