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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...

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...

Turkey posts second-largest budget deficit on record as spending surges

Turkey reported its second-largest budget deficit on record in April as government spending surged in response to the COVID-19 outbreak, the Ahval news website reported on Friday. The deficit...

Turkey sees 55 pct year-on-year drop in housing sales in April

Housing sales in Turkey declined 55.5 percent in April compared to the same month last year, the Diken news website reported on Friday, citing the Turkish...

Turkey seeks global funding to avoid currency crisis: report

Turkey’s government has appealed to foreign allies in an urgent search for funding, three senior Turkish officials said, as it prepares defenses against what analysts fear...

Turkey faces high bar to US swap line deal, former Fed chief says: report

Turkey’s foreign cash needs are not the sort of thing the US Federal Reserve is likely to relieve given its economic challenges and volatile diplomatic relations...

European bank expects Turkey’s economy to contract 3.5 pct by yearend: report

The European Bank for Reconstruction and Development (EBRD) said on Wednesday it expects Turkey's GDP to contract by 3.5 percent in 2020 due to the coronavirus...

Turkey to launch healthy tourism certification program: report

Turkey on Monday announced that it would launch a healthy tourism certification program for the 2020 summer season, the state-run Anadolu news agency reported. The document, which...

Turkish lira firms nearly 1 percent against US dollar: report

Turkey’s lira firmed around 1 percent on Tuesday to below 7.0 against the US dollar, extending its gains after weakening to an all-time low last week,...

Turkey’s February unemployment dips to 13.6 percent: report

Turkey's unemployment rate fell 1.1 percent to 13.6 percent in February year-on-year, according to data published on Monday, the Xinhua news website reported. The figure represents the...

Turkey’s banking regulator drops forex trading ban on 3 foreign lenders

Turkey’s Banking Regulation and Supervision Agency (BDDK) is dropping a trading ban imposed last week on UBS, Citigroup and BNP Paribas because they promptly fulfilled foreign...

Turkey’s motor vehicle production plummeted by 91 percent in April amid pandemic

Turkey’s production of motor vehicles dove by 91 percent in April year-on-year as domestic demand declined and exports ground almost to a halt due to the...

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