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Turkey’s automotive production down 13 pct in first half of 2019

Production in Turkey’s automotive sector fell 13 percent year-on-year in the first six months of the year to 735,062 vehicles, the Automotive Industry Association (OSD) said,...
Business

New central bank governor hints interest rate cuts in first public remarks: report

Turkey’s new central bank governor hinted at rate cuts in his first remarks since taking office nine days ago, emphasizing that the bank had “room for...
Business

885 private companies transferred to TMSF since failed 2016 coup: report

Eight hundred eighty-five private companies have been transferred to Turkey’s Savings Deposit Insurance Fund (TMSF) since a 2016 failed coup due to their alleged affiliation with...
Business

Fitch downgrades Turkey’s rating, cites sacking of central bank governor

Ratings agency Fitch downgraded Turkey’s sovereign rating to “BB-“ on Friday, saying the dismissal of its central bank governor heightens doubts over the authorities’...
Business

Turkey’s current account deficit shrinks to 16-year low: report

Turkey’s current account deficit has shrunk to its lowest level since 2003, all but eliminating an indicator that was once seen as a major vulnerability in...
Business

Turks increasingly prefer foreign currencies over lira in last 26 weeks: report

Turks held some $115.5 billion in foreign currencies in their bank accounts as of July 5, according to central bank data, indicating a solid 26-week increase...
Business

Number of unemployed in Turkey reaches record high with 4.4 million

The number of unemployed reached an all-time high in June of 4,417,814, according to Turkish Employment Agency (İŞKUR) data released on Thursday, the Diken news website...
Business

Erdoğan says Turkey could face problems if central bank not overhauled: report

President Recep Tayyip Erdoğan said Turkey could face serious problems if its central bank is not completely overhauled after the dismissal of Governor Murat Çetinkaya, Reuters...
Business

Turkey halves economic development targets for 2023: report

Turkey has virtually halved its economic development targets for 2023 in a new five-year development plan released by the presidential strategy and budget office on Monday,...
Business

Economist exposes plagiarism in new Turkish central bank governor’s master’s thesis

Murat Uysal, Turkey’s new central bank governor, became a controversial subject on social media after a Turkish economist on Twitter exposed plagiarism in Uysal’s master’s 2001...
Business

Erdoğan’s AKP proposing changes to Turkish Central Bank legal reserves

Turkish President Tayyip Erdoğan’s Justice and Development Party (AKP) is proposing changes in the central bank’s legal reserve ratios, party official Mehmet Muş said...
Business

Turkey’s currency weakens after Erdoğan fires central bank governor

Turkey’s lira weakened on Monday after President Recep Tayyip Erdoğan dismissed the central bank governor, reigniting concerns about political interference in monetary policy and expectations of...
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