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Parliamentary oversight of Turkish gov’t expenditures to be abolished

The Turkish parliament will soon debate a bill that will remove government expenditures from parliamentary oversight, Turkish media outlets reported on Wednesday. Parliament’s Planning and Budget...

$120 bn made to ‘evaporate’ to keep dollar rate below TL 7, former Turkish economy minister says

Ali Babacan, Turkey's former economy minister who launched a new party this year to challenge President Tayyip ErdoÄŸan, said on Wednesday that the government's...

Turkey’s central bank hikes interest rate to boost lira

Turkey's central bank has raised its one-week repo rate from 8.25 percent to 10.25 percent to boost the ailing lira, in a surprise move...

Turkish lira hits record low against US dollar

Turkey's lira continued to plummet on Tuesday as it stood at 7.6671 against the US dollar at 7:50 GMT, its weakest level on record,...

Turkey’s economy contracted 11.8 pct in second quarter: report

Turkey's economy contracted nearly 12 percent in the second quarter due to the coronavirus lockdown, a Reuters poll showed on Friday. The figure indicates the...

Turkish manufacturers become more optimistic after near standstill: report

Turkish manufacturers grew more optimistic and a measure of potential output rose this month as the economy continued to regain its pace after coronavirus...

US judge overseeing criminal case against Turkey’s Halkbank will not recuse himself: report

Turkish state lender Halkbank has lost a bid to have the US judge overseeing a criminal case accusing it of helping Iran evade American...

Fitch downgrades Turkish economy’s outlook to ‘negative’: report

Ratings agency Fitch revised Turkey's outlook to "negative" from "stable" on Friday, citing depleting foreign exchange reserves, weak monetary policy credibility and a sizable...

Turkey’s Black Sea gas discovery not a ‘game-changer,’ analysts say: report

Turkish President Recep Tayyip ErdoÄŸan announced on Friday the discovery of a large natural gas reserve off the Black Sea coast that will help...

Turkey’s external assets have shrunk over 10 percent since end of last year: report

Turkey's external assets had shrunk to $227.3 billion at the end of June, decreasing 10.3 percent since the end of last year, the state-run...

Erdoğan announces Turkey’s largest gas reserve discovery in Black Sea

Turkey announced its biggest-ever natural gas discovery on Friday, a 320 billion cubic meter Black Sea field which President Recep Tayyip ErdoÄŸan said was...

Turkish central bank keeps interest rates steady despite weakening currency

Turkey’s central bank held its benchmark interest rate steady as expected on Thursday despite the lira hitting record lows this week, and it paved...

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