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After Turkey’s giant rate hike, foreign investors mull return: report

Turkey's latest massive interest rate hike has caught the attention of long-skeptical foreign investors who say they could return to Turkish assets if authorities...
Business

Turkish lira surges after Erdoğan backs huge rate hike

Turkey's troubled lira surged Thursday after the central bank delivered a much larger than expected interest rate hike that broke free from President Recep...
Business

Turkey sees surge in credit card, bank and prepaid card usage

Credit card usage in Turkey in July saw a significant surge in comparison to July 2022, with a 19 percent increase in the number...
Business

Turkey’s central bank surprises with huge interest rate hike

Turkey's central bank on Thursday delivered a huge surprise by raising the interest rate to 25 percent as part of a transition from President...
Business

EU to investigate plywood imports from Turkey over potential evasion of measures against Russia

The European Commission has initiated an investigation into the import of birch plywood from Turkey and Kazakhstan, suspecting that these imports might be circumventing...
Business

Turkish grocery firm Getir cuts over tenth of global workforce

Turkish rapid grocery delivery firm Getir said Tuesday it was slashing over a tenth of its global workforce in a bid to stem losses...
Business

Russians establish over 2,000 companies in Turkey in last 18 months amid sanctions: report

More than 2,000 new companies have been established by Russians in Turkey in the past 18 months as sanctions due to the ongoing conflict...
Business

Hungary’s MVM to buy gas from Turkey’s BOTAS in ‘groundbreaking’ deal

Hungarian energy conglomerate MVM has agreed to buy about 300 million cubic meters of natural gas from Turkish energy company, BOTAŞ, Reuters reported. "This strategic...
Business

Turkey begins rolling back costly FX-protected deposits: report

Turkey's central bank began rolling back a growing and costly scheme on Sunday that protects lira deposits from FX depreciation, marking another move toward...
Business

Gold imports in Turkey increase fivefold in second quarter amid economic uncertainty

A dramatic increase in Turkish gold bar and coin demand in the second quarter of 2023 marked a fivefold surge, setting new records, the...
Business

Turkey’s public budget swings to surplus after July tax increases: report

Turkey’s public budget swung to a surplus in July, after tax increases on a wide range of essential goods boosted the government’s revenues, Bloomberg...
Business

Turkey must avoid recession while fighting inflation, VP says

Turkey must sustain its push on production and exports to prevent the economy from falling into recession even as it fights inflation, Vice President...
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