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Inflation to drop to single digits, interest rates to be decreased: Albayrak

Treasury and Finance Minister Berat Albayrak on Thursday claimed that Turkey’s inflation would drop to single digits in three months’ time and that interest rates would...
Business

IMF chair says Turkey’s Erdoğan not eager to seek financial assistance: report

The head of the International Monetary Fund (IMF), Christine Lagarde, said the fund would be willing to help Turkey if its finances continue to...
Business

Turkey’s April food inflation more than 30 pct higher than in EU countries: report

Turkey’s food inflation in April climbed to 31.9 percent, more than 30 percent higher than the average in European Union countries, according to a recent report...
Business

S&P director says Turkish lira is ‘fundamentally undervalued’

Turkey’s lira is fundamentally undervalued and will continue to support the country’s export sector, S&P Global Ratings said on Thursday, Reuters reported. Speaking about possible drivers of...
Business

Turkey’s PMI maintains negative trend for 14th straight month

Turkey’s Purchasing Managers Index (PMI), a survey of manufacturing sector managers on productivity, stood at 45.3 in May, marking the 14th consecutive month with a score that...
Business

Turkish inflation lower than expected in May at 18.7 percent

Turkish inflation eased to a lower-than-expected 18.71 percent in May, official data showed on Monday, causing the lira to decline as investors worried that the central...
Business

Turkish economy shrinks 2.6 percent in first quarter as recession bites

The Turkish economy contracted 2.6 percent year-on-year in the first quarter, in line with expectations, as the official data reinforced the country’s slide into recession after last...
Business

Turkish lira strengthens after Trump, Erdoğan discuss S-400 missile purchase

Turkey’s lira firmed nearly 1 percent on Thursday on expectations that ties with Washington will improve after the two presidents discussed Ankara’s purchase of a Russian...
Business

Turkey’s top 500 firms used 90 pct of profits to pay down debt in 2018: report

Turkey’s top 500 companies in 2018 spent nearly 90 percent of their profits to pay down their debts from previous years, according to a study published...
Business

Turkish economic confidence index falls by 8.5 percent in May

Turkey’s economic confidence index saw an 8.5 percent decline in May, falling to 77.5 percent, according to the Turkish Statistical Institute (TurkStat), the state-run...
Business

Turkish central bank raises reserve requirement rates for forex deposits

Turkey’s central bank has raised reserve requirement rates for foreign exchange deposits at commercial banks, extending efforts to discourage locals from converting lira into other currencies,...
Business

China’s Huawei makes Turkey focus of Mideast market: report

Described as a national security threat by the US, Chinese smart phone manufacturer Huawei has made its Turkey venture the focus of its Middle East market,...
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