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CATEGORY

Business

Business

Qatar and Turkey extend currency swap deal

Qatar and Turkey have announced they agreed to extend a currency swap deal between their central banks, as Ankara's lira has plunged in value...
Business

Turkish crypto boss accused of fraud detained in southern Turkey

Kenan Altun, one of the founders of an IT company implicated in cryptocurrency fraud, has been detained by the cyber crime police in Antalya,...
Business

131 new names from Turkey revealed in Pandora Papers

One hundred thirty-one new names from Turkey have been identified in the Pandora Papers, a leak of some 12 million documents that reveal hidden...
Business

Turkey’s central bank steps in again to contain lira’s decline

The Turkish Central Bank (TCMB) has meddled with the foreign exchange markets by injecting dollars for the second time this week to stop the...
Business

Annual Turkish inflation surges to 21.31 percent in November: official data

Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month when the Turkish lira...
Business

New finance minister sparks debate about his credentials to steer Turkish economy

The overnight appointment of Nureddin Nebati, who does not have a degree in economics, as Turkey’s new finance minister has prompted discussions about his...
Business

Turkey’s finance minister calls it quits amid record lira depreciation

Turkey’s Finance Minister Lütfi Elvan has submitted his resignation, which was accepted by the country’s president, according to a decision published in the Official...
Business

$128 bln in FX reserves met excess demand for foreign currency during pandemic: CB

$128 billion in forex reserves that were sold from the Turkish Central Bank’s (TCMB) reserves in 2019-2020 were used to meet a large amount...
Business

Erdoğan defends ‘risky but correct’ economic policy

Turkish President Recep Tayyip Erdoğan defended Wednesday his "risky but correct" economic policy of low interest rates as the central bank intervened in markets...
Business

Senior central bank executive resigns as Turkish lira plunges to 13 against dollar

Doruk Küçüksaraç, who has served as director of the markets department for the Turkish Central Bank since August 2019, resigned on Tuesday after the...
Business

Turkey economy grew 7.4 percent in Q3, boosted by demand and exports

Turkey's economy grew 7.4 percent year-on-year in the third quarter, meeting expectations on the strength of retail demand, manufacturing and exports, official data showed...
Business

Erdoğan doubles down on low interest rates despite lira fall

Turkey's President Recep Tayyip Erdoğan vowed "no compromise" on low interest rates in comments published by Turkish media on Monday, despite a currency crisis,...
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