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Turkey among top 5 countries with high food inflation: World Bank

Turkey ranks among the top five countries experiencing high food inflation, according to the latest Food Security Update from the World Bank. The report, released...
Business

İstanbul’s annual inflation rate hits 72 percent in October

Retail prices in Turkey’s largest city and commercial hub of İstanbul were 3.69 percent month-on-month in October, for an annual rate of 72.73 percent,...
Business

Turkey may exclude banks from inflation-adjusted accounting: finance minister

Turkey will move to inflation-adjusted accounting, but financial institutions may be excluded from the practice, Finance Minister Mehmet Şimşek said late on Tuesday, Reuters...
Business

Turkey to tighten law on crypto assets to get off terrorist financing ‘grey list’: report

Turkey is preparing new crypto-asset legislation to convince an international crime watchdog to remove the country from its "grey list" of countries that have...
Business

Turkey’s central bank sharply raises key interest rate to combat inflation

Turkey's central bank sharply raised its policy rate for the fifth month running on Thursday as part of its battle against historically high inflation...
Business

Turkish stock rout triggers circuit breakers twice in an hour after Erdoğan defends Hamas

Turkey halted trades on the Borsa Istanbul stock exchange as a major selloff triggered circuit breakers twice following Turkish President Recep Tayyip Erdoğan’s vitriol...
Business

Double-edged sword: Turks’ boycott of Israeli firms can hurt Turkish economy

Turks’ decision to boycott products of Israeli companies or pro-Israeli brands in response to Israeli attacks on the Palestinian enclave of Gaza may hurt...
Business

Economists expect 500 basis point hike in Turkey’s interest rates next week: report

Turkey's central bank is expected to raise its key interest rate by 500 basis points to 35 percent next week, according to a report...
Business

US sanctions shipping companies from Turkey, UAE for violating price cap on Russian oil

The US Department of Treasury has imposed sanctions on two shipping companies from Turkey and the United Arab Emirates for carrying Russian oil in...
Business

Turkey’s unemployment rate falls to 9.2 percent in August

Turkey's unemployment rate dropped 0.2 percentage points month-on-month to 9.2 percent in August, the state-run Anadolu news agency reported, citing the Turkish Statistical Institute...
Business

Turkey says Iraqi oil pipeline will resume operations this week

Turkey on Monday said an Iraqi oil pipeline that ceased operations in March because of a complex payments dispute involving the Kurdish autonomous region...
Business

Net profit of Turkish banks up 39 percent in January-August period

The Turkish banking sector’s net profit was up 39 percent year-on-year in the first eight months of 2023, the state-run Anadolu news agency reported...
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