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Erdoğan calls on UAE businesses to invest in Turkey

Turkish President Recep Tayyip Erdoğan on Tuesday called on business leaders in the wealthy United Arab Emirates to invest in his country, which is...
Business

Progressive tax in electricity consumption ‘unconstitutional,’ bar associations say

Seventy-six Turkish bar associations have said in a joint statement regarding recently introduced increases in energy prices that the progressive tax on electricity consumption is...
Business

Turkey’s unemployment dips to 11.2 percent in December, underutilization rises

Turkey's unemployment rate fell 0.1 percentage point to 11.2 percent in December, while a seasonally adjusted measure of labor underutilization rose 0.5 percentage points...
Business

Turkey to end gas usage limits for industrial users

Turkey's state pipeline operator, the Petroleum Pipeline Corporation (BOTAŞ), said on Monday that gas flow to industrial plants will be fully restored as of...
Business

Turkey’s forex sales to state firms hit record $4.15 billion in January: report

Sales of foreign currency to Turkey's state economic enterprises -- primarily energy importer Petroleum Pipeline Corporation (BOTAŞ) -- reached a record $4.15 billion in...
Business

Turkish annual inflation stands at 115 pct, independent research group says

An independent group of academics and economists working on key data that map economic performance has said it calculated Turkey’s rate of inflation in...
Business

Turkey’s inflation surges to 48.7 percent, highest since 2002

Turkey's annual inflation jumped more than expected to 48.69 percent in January, nearly a two decade high according to data on Thursday, fueled by...
Business

İstanbul’s inflation rate hits 19-year high of 51 percent

Retail prices in Turkey’s largest city and commercial hub of İstanbul were 13.78 percent month-on-month in January, for an annual rate of 50.91 percent,...
Business

Turkey’s tourism revenue doubled, trade deficit narrowed in 2021

Turkey's tourism revenues doubled to almost $25 billion last year and the country's trade deficit narrowed, according to data on Monday reflecting a recovery...
Business

Erdoğan’s approval ratings up as lira stabilizes: survey

President Recep Tayyip Erdoğan's approval rating rose 2.1 percentage points in January, a survey by Metropoll showed on Thursday, as the Turkish lira steadied...
Business

Turkey halts four-month streak of interest rate cuts

Turkey's central bank on Thursday bowed to market pressure and halted a four-month streak of interest rate cuts that saw inflation soar and the...
Business

Turkey strikes currency swap deal with UAE as ties warm

Turkey and the United Arab Emirates said on Wednesday they had agreed a nearly $5-billion swap deal in local currencies, in a sign of...
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