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Turkey’s economic confidence falls by 44.1 percent in April: report

Turkey's economic confidence index tumbled 44.1 percent month-on-month in April to 51.3 points, data from the Turkish Statistical Institute (TurkStat) showed on Wednesday, as it felt...
Business

Turkish lira defense sends central bank reserves to lowest level in year despite borrowing: report

Turkey’s defense of the lira sent central bank net international reserves to the lowest level since last May even after it borrowed a record amount of...
Business

Turkey mulls reopening economy with domestic flights in mid-May: report

Turkey is deliberating whether to start reopening its economy with the resumption of some domestic flights as early as mid-May, officials with direct knowledge of the...
Business

Turkish wealth fund buys all shares of state-run insurance companies: report

The Turkey Wealth Fund Management Co. has purchased all the shares of state-owned insurance companies from owners including public banks, the Ahval news website reported. The sovereign wealth fund...
Business

Turkish central bank cuts interest rate to 8.75 pct amid coronavirus crisis: report

Turkey’s central bank cut interest rates to 8.75 percent on Wednesday, risking further lira weakness, in a bigger-than-expected move aimed at limiting the economic damage of...
Business

Turkish economy expected to contract in 2020 as coronavirus hits economies: report

Turkey’s economy is expected to contract this year for the first time in over a decade as the coronavirus pandemic slashes output through mid-year, and it’s...
Business

More than 250,000 Turkish firms apply gov’t funding for short working hours for employees: report

More than a quarter million Turkish companies have applied for financial aid to implement a government-run program for short working hours for employees, according to the...
Business

Turkey to inject more money into state-run banks to increase business lending: report

Turkey’s government is considering a capital injection for state-owned banks so they can prop up businesses hit by the coronavirus pandemic, according to people with knowledge...
Business

Turkey was Europe’s largest waste destination in 2019: report

The European Union exported some 11.4 million tons of waste to Turkey in 2019, making it the continent’s largest waste destination, based on the latest figures...
Business

Turkey announces new regulation to boost lending, bond purchase: report

The Turkish banking regulator announced a new effort to push banks to step up lending, purchase government bonds and engage in swap transactions with the central...
Business

Turkish parliament passes law allowing wealth fund to take over companies in distress

Turkey’s parliament passed legislation on Thursday allowing the sovereign wealth fund to take over companies in distress, according to the Ahval news website. The Turkish Wealth Fund, chaired...
Business

Full lockdown would be costly for Turkish economy, presidential aide says: report

A full lockdown against the spread of the novel coronavirus would be costly for Turkey, for both the economy and the mental health of the people,...
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