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Erdoğan’s party pivots back to orthodox economic policies in draft manifesto: report

The draft election manifesto of Turkish President Recep Tayyip Erdoğan's ruling Justice and Development Party (AKP) marks a return to more orthodox, free market...
Business

European development bank offers Turkey post-earthquake aid

The European Bank for Reconstruction and Development on Thursday announced it would invest up to 1.5 billion euros ($1.6 billion) in Turkey's earthquake-hit region...
Business

Turkey’s Black Sea gas project faces delay due to earthquakes: report

The start of Turkish natural gas production from the Black Sea may be delayed by up to a month after staff had to leave...
Business

Saudi Arabia deposits $5 billion in earthquake-hit Turkey’s central bank

Saudi Arabia said Monday it was depositing $5 billion in Turkey's central bank, a potentially major boost as the country grapples with inflation and...
Business

Turkey’s inflation slows further as elections near

Turkey's inflation rate slowed for a fourth straight month in February but remained in double-digits ahead of elections in which President Recep Tayyip Erdoğan's...
Business

Turkey’s trade deficit surges 52.8 percent in February after earthquakes

Turkey's foreign trade deficit stood at $12.19 billion in February, widening 52.8 percent year-on-year, highlighting the impact of last month's massive earthquakes on trade,...
Business

Turkey’s economy grew 5.6 percent in 2022, pace to slow after earthquakes: report

Turkey's economy expanded 5.6 percent in 2022, official data showed on Tuesday, but growth was expected to slow significantly to 2.8 percent in 2023...
Business

Turkey’s trade deficit jumps 38 percent to $14.2 billion in January

Turkey's foreign trade deficit widened 38.4 percent year-on-year to $14.24 billion in January, Reuters reported, citing official data on Monday, with imports surging 20.7...
Business

Turkey cuts key interest rate to aid earthquake recovery

Turkey's central bank on Thursday dropped its key interest rate by half a percentage point to 8.5 percent, saying the cheaper borrowing cost would...
Business

Earthquake to deepen Turkey’s economic woes

Turkey was already battling runaway inflation and relying on rich allies for funding to keep its economy afloat when a massive earthquake killed tens...
Business

Pro-Erdoğan businessman who donated $164 mln for quake relief granted sizable incentives

The Turkish government has provided several incentives to the pro-government Cengiz Holding, which donated TL 3.1 billion ($164 million) for relief efforts following a...
Business

JPMorgan estimates Turkey direct quake damage at $25 bln, expects rate cut

Direct costs from the destruction of physical structures in Turkey from the devastating earthquake on Feb. 6 could amount to 2.5 percent of gross...
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