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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...
Business

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...
Business

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...
Business

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...
Business

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...
Business

Turkey finds significant amount of natural gas in Black Sea: report

Turkey has found significant gas resources in the Black Sea, two Turkish sources told Reuters, a discovery that could help the country cut its...
Business

Turkish economy has regained pre-pandemic momentum, ErdoÄŸan claims

Turkey's economy has regained the momentum it was seeing before the COVID-19 outbreak, President Recep Tayyip Erdoğan said on Wednesday. “Despite some troubles not originating...
Business

Azerbaijan becomes Turkey’s major gas supplier as Ankara reduces dependence on Russia

Azerbaijan has become Turkey’s major gas supplier following Ankara’s years-long efforts to reduce its dependence on Russian gas, according to the Eurasia Review news...
Business

Turkey discovers energy resource in Black Sea, Erdoğan heralds ‘new era’: report

Turkey has made an energy discovery in the Black Sea, most likely natural gas, two people with direct knowledge of the matter told Bloomberg...
Business

Turkey posts $21.3 billion budget deficit in first 7 months: report

The Turkish government ran a monthly fiscal gap of 29.7 billion lira ($4 billion) in July, bringing the deficit in the first seven months...
Business

Turkey’s lira continues sliding, central bank meeting takes on importance: report

Turkey's lira fell to a new record low against the US dollar on Monday, as investors weighed up tightening steps by the central bank...
Business

Some Turkish banks begin charging for FX withdrawals: report

Some Turkish banks have begun charging a fee to withdraw foreign currencies in cash, bankers said on Thursday, after a slide in the lira...
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