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With economy reopening, Turkey to halt worker pay system: report

Turkey, which reopened its economy this month after a coronavirus-related lockdown, will deactivate a temporary pay system used over the past three months to...
Business

Turkey’s ruling AKP passes competition law, sparking criticism from opposition parties: report

Turkey’s parliament on Tuesday passed a law that includes giving wider powers to the Competition Authority, a change criticized by opposition parties for not...
Business

Turkey posts $2.53 billion budget deficit in May: report

Turkey's central government budget posted a deficit of 17.3 billion lira ($2.53 billion) in May, data from the Finance Ministry showed on Monday, according...
Business

Turkey’s industrial output plummeted by 31.4 pct in April due to pandemic

Turkey's industrial output slumped a more-than-expected 31.4 percent, and its current account deficit widened beyond $5 billion in April as it felt the impact...
Business

More than 9,000 foreigners acquire Turkish citizenship via real estate investment: report

Turkey has granted citizenship to more than 9,000 people through real estate investments since mid 2016, according to the head of a foreign real...
Business

Gov’t debt held by Turkey’s central bank exceeds 10 pct of assets: report

The share of government debt among the Turkish central bank’s assets exceeded 10 percent this week, data showed on Wednesday, as it continues buying...
Business

Easing unemployment in March raises eyebrows in Turkey: report

Turkey’s unemployment rate eased to 13.2 percent in March from 13.6 percent in February, data indicated on Wednesday, but analysts said the figures do...
Business

Turkish economy will contract 3.8 percent this year, rebound with 5 percent next: World Bank

The World Bank said it expects Turkey's economy to contract by 3.8 percent in 2020 after projecting 0.5 percent growth in its previous estimate...
Business

Turkey’s auto exports down 38 pct in first 5 months amid pandemic

Turkey’s motor vehicle manufacturing and exports recorded significant year-on-year declines in the first five months of 2020, with production down 34 percent and exports...
Business

3-month ban on layoffs could be extended by Turkish gov’t: report

Turkey could extend a three-month ban on layoffs that was imposed in April to offset shuttered businesses and unemployment in the face of the...
Business

Turks held forex worth $200 bln as of May 29: report

Foreign currency deposits and funds, including precious metals, held by Turkish individuals and companies rose to $200.21 billion as of May 29, edging closer...
Business

Turkey plans to resume flights with some 40 countries in June: report

Turkey plans to resume flights with around 40 countries in June and has reached preliminary agreements for reciprocal air travel with 15 countries, Transport...
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