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Turkey’s military pension fund reaches provisional agreement to buy British Steel

Turkey’s military pension fund OYAK has reached a provisional agreement to take over British Steel, it said on Friday, adding it planned to close the deal...
Business

Turkey’s army pension fund preferred bidder for British Steel: report

The Official Receiver is to announce this week that an investment arm of Turkey's armed forces pension fund is the preferred bidder for British Steel, BBC...
Business

Turkish lira gains value, outperforming other EM currencies: report

Turkey’s lira firmed on Thursday, outperforming some other emerging market currencies, while the main stock index declined more than 2 percent after a three-day market holiday,...
Business

Turkey’s seasonally adjusted unemployment rate highest on record in April-June period

Turkey's seasonally adjusted unemployment rate climbed to its highest level on record, statistical data showed on Thursday, despite a slight fall in the April-June headline figures,...
Business

Only modest recovery expected in Turkey’s economy for 2019: report

Turkey’s economy, which suffered a currency crisis last year, is still in the doldrums and only a modest recovery is expected, according to Dutch bank ABN...
Business

Turkey receives $1 billion in funds from China under swap agreement: report

Turkey received around $1 billion in funds from China in June under a swap agreement that dates back to 2012, two people with direct knowledge of...
Business

Turkey’s central bank reduces yearend inflation expectation

The Turkish Central Bank has decreased its forecast for yearend inflation from 15.01 percent to 14.42 percent while increasing its expectation for the value of country’s national...
Business

Turkey’s 12-month cumulative current account records first surplus in 17 years

Turkey's 12-month cumulative current account recorded a surplus in June for the first time in nearly 17 years, data from the central bank showed on Friday,...
Business

Turkey’s central bank dismisses chief economist, department managers: report

Turkey’s central bank has dismissed its chief economist, Hakan Kara, and some department managers, according to a document seen by Reuters, re-igniting concern about political interference...
Business

Lira reaches four-month high thanks to thaw in Turkey-US relations

The Turkish lira continued its winning run against peers on Thursday, firming to its strongest level since early April thanks to a thawing of Turkey-US relations...
Business

Canada-based firm denies Turkish protestors’ claims over planned gold mine: report

Canada-based Alamos Gold has prepaid for reforestation at its mine project in western Turkey, its chief executive told Reuters amid growing criticism, adding that it was...
Business

Turkey becomes world leader in tax on cigarettes

An increase in the special consumption tax introduced by Turkey’s government in July has caused taxation on cigarettes to jump to 87 percent, higher than the same...
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