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Turkey faces high bar to US swap line deal, former Fed chief says: report

Turkey’s foreign cash needs are not the sort of thing the US Federal Reserve is likely to relieve given its economic challenges and volatile diplomatic relations...
Business

European bank expects Turkey’s economy to contract 3.5 pct by yearend: report

The European Bank for Reconstruction and Development (EBRD) said on Wednesday it expects Turkey's GDP to contract by 3.5 percent in 2020 due to the coronavirus...
Business

Turkey to launch healthy tourism certification program: report

Turkey on Monday announced that it would launch a healthy tourism certification program for the 2020 summer season, the state-run Anadolu news agency reported. The document, which...
Business

Turkish lira firms nearly 1 percent against US dollar: report

Turkey’s lira firmed around 1 percent on Tuesday to below 7.0 against the US dollar, extending its gains after weakening to an all-time low last week,...
Business

Turkey’s February unemployment dips to 13.6 percent: report

Turkey's unemployment rate fell 1.1 percent to 13.6 percent in February year-on-year, according to data published on Monday, the Xinhua news website reported. The figure represents the...
Business

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...
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