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Fitch cuts Turkey’s debt ratings to ‘B’ from ‘B+’

Ratings agency Fitch downgraded Turkey's debt rating to "B" from "B+" on Friday, citing increasing inflation and broad concerns about the economy, from a...
Business

Turkey’s inflation hits two-decade high of 78.6 percent

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released...
Business

Turkey’s troubled lira rallies on ‘backdoor capital controls’

Turkey's beleaguered lira extended its biggest rally of the year on Monday in response to a new rule that effectively forces many banks to...
Business

Report reveals economic decline of Turkey since introduction of presidential system

A recent report released by the Confederation of Progressive Trade Unions (DİSK-AR) research center has revealed how the presidential system has taken an economic...
Business

Inflation-ravaged Turkey refuses to raise rates

Turkey's central bank on Thursday bucked global trends once again and kept its benchmark interest rate stable despite one of the highest levels of...
Business

TÜSİAD chair slams Erdoğan gov’t’s unorthodox economic policies amid highest inflation since 1998

Orhan Turan, president of the Turkish Industrialists and Businessmen’s Association (TÜSİAD), has criticized the unorthodox economic policies of President Recep Tayyip Erdoğan’s government, calling...
Business

Turkey’s minimum wage workers earn $26 less a month than they did in 2021

Although the Turkish minimum monthly wage was increased by 50 percent for this year to help offset an increased cost of living, it has...
Business

Turkish Treasury to issue new bonds; consumer loan limits set

Turkey's Treasury said on Thursday it will issue state enterprise income-indexed domestic bonds to encourage Turks to make savings in lira assets, while the...
Business

Turkish lira plunges to 17.20 against dollar

The Turkish lira slid to beyond 17.2 against the dollar on Thursday, slipping for a fourth consecutive session towards December's record lows amid concerns...
Business

Turkey’s lira slides against dollar, down 23 percent so far this year

The Turkish lira dropped 2 percent against the dollar on Wednesday, bringing its losses to 23 percent this year, after worries about a surge...
Business

Erdoğan says Turkey won’t raise rates in face of soaring inflation

Turkish President Recep Tayyip Erdoğan insisted on Monday that his government was opposed to higher interest rates even as inflation in the country soars...
Business

Ukraine envoy says Turkey among destinations of grain stolen by Russia

Kyiv's ambassador in Ankara said on Friday Turkish buyers were among those purchasing grain that Russia stole from Ukraine, adding that he has sought...
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