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Business

Turkey sees highest inflation in more than a year at 14 percent

Turkey's annual inflation jumped more than expected to 14.03 percent in November, its highest since August 2019 on the back of the Turkish lira's...
Business

Turkish Justice Ministry expands operations to cope with skyrocketing debt collection, bankruptcy cases

An overwhelming number of debt collection and bankruptcy cases has prompted Turkey's Justice Ministry to lease two multi-story buildings in İstanbul , the Sözcü...
Business

Turkish economy grows 6.7 percent in third quarter after initial virus wave

Turkey’s economy roared to a more-than-expected 6.7 percent growth rate in the third quarter, as a flood of credit helped it rebound from a...
Business

Turkey’s former finance minister Albayrak resigns from Wealth Fund

Former Finance and Treasury Minister Berat Albayrak, a son-in-law to Turkish President Recep Tayyip Erdoğan, has resigned from his position as the deputy chair...
Business

Turkey’s new economy team fails to halt demand for US dollars

Turhan Bozkurt The Turkish economy team has backed down on its opposition to high interest rates, and the central bank hiked rates last week....
Business

Turkey asks global firms to financially support its small business owners amid pandemic

Turkish Trade Minister Ruhsar Pekcan said they have contacted global firms to find out what they can do to financially support Turkey’s small business...
Business

Former finance minister slams Erdoğan over rate hike, demanding an explanation to the nation

A former economy minister lambasted Turkish President Recep Tayyip Erdoğan on Friday after the president described an aggressive repo rate hike by the central...
Business

Turkey’s central bank hikes rates 475 points

Turkey's central bank raised the one-week repo rate by 475 basis points to 15 percent on Thursday in a bid to boost the struggling...
Business

İstanbul significantly more expensive than 2019 according to Worldwide Cost of Living survey

İstanbul has staged one of the biggest rises in a list compiled by the Economist Intelligence Unit (EIU) comparing the cost of living in...
Business

Turkish regulator fines Google 196.7 million lira for abusing market dominance

Turkey's Competition Authority fined Google 196.7 million Turkish lira ($25.5 million) on Friday, accusing the company of abusing its market dominance in online searches. The...
Business

Lira rebounds as Erdoğan vows to attract international investment after shake-up of economy team

Turkey's lira gained 3 percent in value against the US dollar on Wednesday after President Recep Tayyip Erdogan announced a new growth strategy following...
Business

Turkey’s unemployment rate falls slightly in third quarter of 2020

Turkey’s unemployment rate decreased by 0.8 percent year-on-year and stood at 13.2 percent in the third quarter of 2020, while the number of people...
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