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Business

US urges Turkey to remove digital services taxes

A senior US government official asked Turkey’s trade minister to ensure Turkey’s compliance with an agreement reached during OECD-led talks by lifting individual digital...
Business

IMF allocates $6.4 billion in special drawing rights to Turkey

The International Monetary Fund’s (IMF) recent special drawing rights (SDR) program gave Turkey’s foreign currency reserves a $6.4 billion boost on Monday. The SDRs, an...
Business

Turkey keeping an eye on inflation as bank holds key rate at 19 percent

Turkey's central bank said Thursday it was keeping a close eye on rising inflation as it left its key interest rate unchanged at 19...
Business

Turkish July inflation climbs to near policy rate level of 19 percent

Turkish annual inflation hit a fresh two-year high of 18.95 percent in July, official data showed on Tuesday, above a poll forecast of 18.5...
Business

Turkish central bank keeps rates steady, warns of volatile summer inflation

Turkey's central bank said on Wednesday that inflation could be volatile through the summer due to the easing of coronavirus measures as it kept...
Business

Turkish inflation hits 2-year high with surprise jump to 17.5 percent: report

Turkish annual inflation jumped to a two-year high of 17.53 percent in June, exceeding a forecast of 17 percent and continuing an extended rise...
Business

Tourism lull in 2020 might have cost Turkey’s GDP $93 bln: UN report

The total loss caused by the crash in international tourism to Turkey's GDP in 2020 due to the coronavirus pandemic could be as high...
Business

Turkey holds key rate at 19 percent for third month to help lira

Turkey's central bank on Thursday held its interest rate at 19 percent for the third month, balancing President Recep Tayyip Erdoğan's call for lower...
Business

15 businesspeople sentenced to prison over Gülen links

Fifteen defendants have been sentenced to prison in a trial concerning the activities of the now-closed Turkish Confederation of Businessmen and Industrialists (TUSKON) due...
Business

Turkey’s central banker tries to calm market jitters

Turkey's central bank chief on Wednesday tried to quash speculation that he is about to bow to President Recep Tayyip Erdoğan's pressure and cut...
Business

Turkish lira hits all-time low after Erdoğan’s call for interest rate cuts

The Turkish lira hit a record low after Turkish President Recep Tayyip Erdoğan said during a televised interview late on Tuesday that he spoke...
Business

Turkey’s economy grew by 7 percent in first quarter of 2021

Turkey's economy grew a more-than-expected 7 percent year-on-year in the first quarter, official data showed on Monday as pandemic restrictions did not temper hot...
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