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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...
Business

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...
Business

Turkey reopens malls, hairdressers, beauty salons under COVID-19 measures

Lines formed outside shopping malls in Turkey on Monday as they opened for the first time in seven weeks, albeit with strict hygiene requirements, The Associated...
Business

Turkey mulls injecting nearly $3 billion of new capital into state-run banks: report

Turkey plans to inject about 20 billion lira ($2.8 billion) of new capital into three state banks -- Ziraat Bank, Halkbank and Vakıfbank -- in the...
Business

Turkey publishes new regulations on market manipulation as lira weakens

Turkey published regulations on Thursday that would punish institutions spreading “false or misleading information” in financial markets as the lira hit a record low against the US...
Business

Turkey investigating 29 companies over pricing during coronavirus outbreak

Turkey’s competition authority said on Thursday it has launched investigations into 29 companies, including supermarket chains, for extraordinary pricing of hygiene, cleaning and food products during the...
Business

Turkish banks banned from some foreign currency trades after lira plunges: report

Turkish banks have been banned from performing some foreign-currency trades with UBS, Citibank and BNP Paribas as part of a series of dramatic interventions by the...
Business

Turkish lira nears all-time low after concerns over central bank reserves: report

Turkey’s lira tumbled 1.3 percent on Wednesday and neared an all-time low hit during a 2018 currency crisis after a regulator clamped down further on foreign...
Business

Turkish Airlines plans to partially resume operations in June: report

Turkish Airlines (THY) plans a partial resumption of flights from June and will take four months to return to near full operation, a draft plan seen...
Business

Babacan says Erdoğan’s coronavirus response falls short of protecting economy: report

The man who’s widely credited with shepherding Turkey through its two biggest crises in as many decades is warning that the government’s response to the coronavirus...
Business

All major Turkish factories to resume operations as of May 11: report

All main Turkish factories will resume operations as of May 11, Industry Minister Mustafa Varank said on Tuesday, a day after President Recep Tayyip Erdoğan announced...
Business

Turkey’s automotive exports down 77 pct amid pandemic

Turkey’s automotive exports stood at $505 million in April, representing a 77 percent drop over last year, the Diken news website reported on Monday. The decline was sharper...
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