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Turkish lira slumps to record low after Erdoğan orders expulsions

The Turkish lira dropped to record lows on Monday after Turkish President Recep Tayyip Erdoğan at the weekend ordered the expulsion of the ambassadors...
Business

Turkey placed under money laundering watch

Global money-laundering watchdog the Financial Action Task Force (FATF) placed Turkey under surveillance on Thursday for shortcomings in combatting money laundering and terrorism financing,...
Business

Turkey cuts interest rate despite soaring inflation

Turkey's central bank cut interest rates for the second successive month on Thursday in what economists interpreted as confirmation of its loss of independence...
Business

Turkey must ensure independence of central bank: TÜSİAD

The head of the Turkish Industrialists and Businessmen’s Association's (TÜSİAD) High Advisory Council said on Tuesday that Turkey must ensure the independence of its...
Business

Erdoğan’s budget proposes 14 pct increase in his salary: opposition MP

Turkish President Recep Tayyip Erdoğan has proposed a 14.4 percent salary increase for himself in a draft budget submitted to parliament for approval, the...
Business

Opposition MP slams ruling party for Turkey losing spot among world’s 20 largest economies

A spokesperson for Turkey’s main opposition party has slammed the ruling party for failing to keep Turkey on the list of the world’s 20...
Business

Opposition slams Erdoğan for latest central bank reshuffle via midnight decree

Turkish President Recep Tayyip Erdoğan has been harshly criticized by senior opposition figures for once again carrying out a reshuffle of the Turkish Central...
Business

Exchange offices to object to regulations stripping lira sellers of anonymity

Turkey’s exchange offices are preparing to file a formal objection to recently issued regulations that require money changers in the country to record the...
Business

Turkish lira hits record low as Erdoğan sacks central bankers

The Turkish lira sank to a record low against the US dollar on Thursday after President Recep Tayyip Erdoğan fired three central bank members...
Business

Turkish lira hits record low against US dollar

Turkey’s lira dropped to a record low on Monday, standing at 9.0178 against the US dollar at 1700 GMT. A stronger US dollar weighing on...
Business

Erdoğan promises to open 1,000 supermarkets to combat high prices

Amid declining support for his party in the face of double-digit inflation, Turkish President Recep Tayyip Erdoğan said on Sunday that agricultural cooperatives have...
Business

Turkish inflation rises to 19.6 percent after surprise rate cut

Turkey's annual inflation rose to 19.58 percent in September, its highest in two-and-a-half years, data showed on Monday, pushing real yields further into negative...
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