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Turkey sacks central bank governor after interest rate hike

Turkey fired the governor of its central bank and replaced him with economist and former ruling party lawmaker Şahap Kavcıoğlu, according to a presidential...
Business

Turkey’s central bank hikes main interest rate to 19 pct

Turkey's central bank on Thursday sharply hiked its main interest rate to 19 percent to counter rising inflation and the dropping value of the...
Business

Turkish jewelers irked at plans to force them to deposit 500 grams of gold with state banks

A draft regulation by Turkey's trade ministry which will stipulate that jewelers deposit 500 grams of gold with state-owned banks as "security" has drawn...
Business

Erdoğan promises single-digit inflation, tax exemptions in new economic reform plan

Turkish President Recep Tayyip Erdoğan pledged to focus efforts to improve Turkey’s economy on bringing inflation down to single digits and introducing tax exemptions...
Business

University graduates among 5,000 applying for 9 janitorial jobs in SE Turkey

A main opposition lawmaker said that 1,143 university graduates were among 5,217 people who applied for nine cleaning staff positions in Turkey's southeastern Adıyaman...
Business

Turks grapple with poverty as inflation bites

Gülay Avşar is a regular at a market in Ankara's old town, where prices are more reasonable than most other places around the Turkish...
Business

128 billion in dollars allegedly sold in 2019-2020 still in Treasury and central bank, Erdoğan claims

Turkish President Recep Tayyip Erdoğan on Wednesday argued that some $128 billion, which is claimed by the opposition to have been sold from the...
Business

Turkey’s unemployment rate fell to 12.2 percent in January

Turkey's unemployment rate fell to 12.2 percent in January, and the worker participation rate rose toward 50 percent from a month earlier, Reuters reported,...
Business

US-convicted banker quits as İstanbul exchange chief

A top Turkish banker convicted in the US of busting sanctions on Iran resigned on Monday as the chief executive of the İstanbul stock...
Business

Turkey registers highest inflation rate since mid-2019 at 15.61 pct in February

Turkish annual inflation rose more than expected to 15.61 percent in February, the highest since mid-2019 according to official data on Wednesday, keeping pressure...
Business

Turkey records 1.8 percent economic growth in 2020 despite pandemic

Turkey's economy grew 5.9 percent in the fourth quarter and 1.8 percent in 2020 as a whole, annual data showed on Monday, emerging as...
Business

Speculation over possible Albayrak return sends lira tumbling

Turkey's lira tumbled on Thursday after a rally triggered by a shakeup of the economy team in November as the government again defended the...
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