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Turkey to make importing goods harder, minister says: report

Turkey will make it harder to import goods except for strategic products and those that cannot be produced domestically, Finance Minister Berat Albayrak was...
Business

Fitch cuts rating of Turkey’s Halkbank, lowers outlook of state-run banks: report

Fitch Ratings has cut the Long-Term Foreign-Currency Issuer Default Rating (LTFC IDR) of Turkey’s state-run Halkbank, citing the nation’s declining foreign currency reserves and the risk of...
Business

Nearly 16,000 businesses shut down under coronavirus measures: report

Some 16,000 businesses were closed between March 1 and April 30, when Turkey imposed measures to halt the spread of the coronavirus, the Diken news website...
Business

Turkey’s consumer confidence increases in May despite coronavirus

Turkey's consumer confidence index rose to 59.5 points in May, data from the Turkish Statistical Institute showed on Wednesday, climbing from April's 54.9 -- its lowest...
Business

Russia’s Gazprom reduced gas supplies to Germany, Turkey in March: report

Russian gas giant Gazprom decreased its supplies to major clients Germany and Turkey in March, Reuters reported, citing the Interfax news agency. Natural gas pipeline exports by...
Business

Turkey triples its currency-swap deal with Qatar: central bank

Turkey secured a tripling of its currency-swap agreement with Qatar to $15 billion, the central bank said on Wednesday, providing some much-needed foreign funding to reinforce...
Business

French BNP Paribas halts new Turkish lira trades at prime broker unit: report

French bank BNP Paribas stopped offering clients new trading in the Turkish lira via a special unit after it was briefly banned from the market by...
Business

Brazil, Turkey face high risk from local debt splurge, Goldman Sachs says: report

Brazil, Turkey and some frontier markets face the biggest risk from a possible surge in local sovereign debt issuance as developing governments ramp up spending to...
Business

Turkey still in talks with 4 central banks for currency swap lines: report

Turkey is still in talks with Japan, the United Kingdom, Qatar and China on creating or expanding swap lines, and reports of a deal with two...
Business

Turkey’s state-owned Vakıfbank obtains license to operate in Qatar

Turkey’s state-owned Vakıfbank has announced that it has obtained approval from the Qatar Financial Centre Regulatory Authority (QFCRA) to conduct banking operations in Qatar. In a written statement released...
Business

Turkey’s Wealth Fund increases shares at 3 state-run banks with capital injection

Shares in Vakıfbank will be sold to the Turkish Wealth Fund at 4.98 lira per share and those of Halkbank at 5.72 lira, they said, under...
Business

Turkey hopes to lure tourists from 70 countries for ‘corona-free’ summer vacation

With its tourism sector one of the hardest hit by the COVID-19 outbreak, Turkey has launched a “diplomacy of letters,” contacting 70 countries to assure them...
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