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Turkey’s state banks to inject $4.9 bln to support exporters: minister

Turkey’s state banks will provide a 30 billion lira ($4.9 billion) financing package to help bail out exporting sectors such as manufacturing that were...
Business

Pro-gov’t tycoon to run for chair of Turkey’s football federation

Prominent Turkish businessman Nihat Özdemir has declared his candidacy for chairman of the Turkish Football Federation (TFF), the Artı Gerçek news website reported on Thursday. The new chair of...
Business

Turkey reduces duty by half on some imports from US

Turkey has decided in a reciprocal move to reduce by half additional duty levied on 22 products originating in the US, the trade minister said on...
Business

Turkish consumer confidence plunges to lowest level on record

Turkey’s consumer confidence dropped to the lowest level on record in May, dampening hopes for a sustainable economic recovery in the country, the Ahval news website reported...
Business

OECD foresees sharper contraction in Turkish economy for 2019

The Organization for Economic Co-operation and Development (OECD) has revised its projection for Turkey’s GDP, forecasting a 2.6 percent contraction in 2019 instead of the previously anticipated...
Business

Turkey’s banking watchdog imposes settlement delay for forex purchases over $100,000

Turkey’s Banking Regulation and Supervision Agency (BDDK) on Monday imposed a settlement delay for FX purchases by individuals of more than $100,000, a move that could...
Business

Saudi chamber of commerce warns against investing in Turkey: report

Ajlan Al-Ajlan, chairman of the Riyadh Chamber of Commerce and Industry (RCCI), has warned Saudi investors against making any investments in Turkey, citing the worsening economic situation...
Business

ErdoÄŸan targets tycoon who criticized system of governance in Turkey

The tension between Turkey’s top businesses and its president spiked as Recep Tayyip Erdoğan slammed the Turkish Industrialists and Businessmen’s Association (TÜSİAD), specifically targeting Tuncay Özilhan,...
Business

US ends Turkey’s preferential trade agreement, reduces tariffs on steel

The United States on Thursday terminated Turkey’s preferential trade treatment that allowed some exports to enter the country duty free, but it has halved its tariffs...
Business

Turkey’s house sales go down 18.1 percent in April

Turkey’s Statistical Institute (TurkStat) announced on Thursday that house sales in April saw a year-on-year fall of 18.1 percent, with the volume of the housing market dropping...
Business

Turkey’s central bank increases its yearend inflation expectation

The Turkish Central Bank has increased its forecast for yearend inflation from 16.23 percent to 16.68 percent while decreasing its expectation on the value of country’s...
Business

Moody’s warns Turkey over vulnerabilities stemming from forex reserves

Turkey’s foreign exchange reserves have fallen to a fresh 2019 low once short term borrowing is stripped out, new data showed on Thursday, as Moody’s issued...
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