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Italy’s biggest bank cuts more of its stake in Turkey’s Yapı Kredi: report

UniCredit, Italy’s biggest bank by assets, took a further step on Wednesday in a strategy to streamline its structure, announcing the placement of a 12 percent...
Business

As foreign investment flees, Turkish central bank buys more gov’t bonds: report

The Turkish central bank has kicked off its biggest government debt buybacks in over a decade, helping fill a void left by foreigners and adding momentum...
Business

Halkbank shares surge after Iran sanctions trial paused: report

Shares of Turkey’s Halkbank jumped as much as 8 percent on Tuesday after a US appeals court agreed to pause a case alleging that the state-owned...
Business

US court grants temporary halt in prosecution of Turkey’s Halkbank: report

A federal appeals court granted a temporary halt in the US prosecution of Turkish lender Halkbank over sanctions violation charges while it weighs other requests by...
Business

Businessman makes U-turn after complaining about state of Turkish economy

Abdullah Kiğılı, Turkish businessman and the owner of a well-known Turkish clothing brand, has backed away from earlier remarks complaining about the state of Turkey’s economy, the...
Business

Turkey’s manufacturing activity increases for first time in 22 months: report

Turkish manufacturing activity expanded for the first time in 22 months, a business survey showed on Monday, with new orders returning to growth and the rate...
Business

Turkey’s inflation rises to 12.15 percent in January: report

Turkey’s consumer price inflation rose a bit more than expected to 12.15 percent year-on-year in January, the Turkish Statistical Institute said on Monday, climbing...
Business

Turkey’s tourism revenues increased 17 percent in 2019: official data

Turkey's tourism revenues in 2019 hit $34.5 billion, a 17 percent jump from the previous year, according to the Turkish Statistical Institute (TurkStat). The average expenditure per...
Business

Turkey’s foreign trade deficit shrank 43.5 percent in 2019: report

Turkey's foreign trade deficit shrank by 43.5 percent in 2019 to $31.17 billion, down from $55.12 billion in 2018, the country's statistical authority announced on Friday,...
Business

Turkish banking sector saw 7 percent drop in profit in 2019: watchdog

Profit in Turkey’s banking industry declined by 7 percent last year, according to the Banking Regulation and Supervision Agency (BDDK), the Ahval news website reported. Net income...
Business

HSBC mulling Turkey exit as part of cost-cutting measures: report

HSBC is considering exiting Turkey as part of broader cost-cutting measures under interim Chief Executive Noel Quinn, Reuters reported, citing sources familiar with the matter. The bank...
Business

Turkey fines 5 insurance companies for violating competition law

The Turkish Competition Board has fined five insurance companies for violating the competition law following an investigation, the watchdog said on Tuesday, according to Reuters. Allianz Sigorta,...
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