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Unemployment in Turkey remains at peak levels

The Turkish Statistical Institute (TurkStat) has released the February unemployment figures, which remained at the peak level of 14.7 percent recorded in January, the Evrensel daily reported...
Business

Goldman Sachs lowers expectations for Turkey’s contraction in 2019

Goldman Sachs, a global investment bank and financial services company, has lowered its expectations for the Turkish economy’s contraction at yearend 2019 from 1.5 percent to...
Business

Turkey planning to tap $6.6 billion from central bank reserves: report

Turkey’s Treasury ministry is working on legislation to transfer the central bank’s 40 billion lira ($6.6 billion) in legal reserves to the government’s budget to shore...
Business

Turkish economy will prosper with employment increase, sharp drop in inflation: minister

Turkey’s economy will prosper since employment levels are expected increase, accompanied by a sharp drop in inflation, Treasury and Finance Minister Berat Albayrak said...
Business

[UPDATE] Turkish state banks sell $4.5 billion dollars to boost lira’s value: report

Turkish state banks sold around $4.5 billion last week, two sources told Reuters, including in a flurry of selling late on Friday, to support...
Business

Turkey’s currency hits 8-month low after decision to hold new İstanbul election

Turkey’s currency weakened beyond 6.24 to the dollar on Thursday, hitting its weakest level in eight months amid concerns over the re-run of İstanbul’s mayoral election...
Business

Re-run of İstanbul election could delay Turkey’s economic reforms: report

Turkey’s long road to economic reform may have grown bumpier this week when authorities ordered a re-run of an İstanbul city election, further testing the patience...
Business

Turkish financial markets tumble after announcement of new İstanbul election

Turkish financial markets tumbled on Tuesday after the elections board ruled to scrap and re-run the İstanbul election, with the lira down 1.3 percent to its...
Business

‘Turkish lira millionaires’ increased by nearly 13,000 in Q1: report

The number of deposit holders with at least 1 million Turkish lira or more in their bank accounts increased by 12,777 in the first quarter of...
Business

Turkey’s energy, automotive sectors suffering from debt, low demand

Turkey’s energy and automotive sectors are suffering from exorbitant debt and low demand, respectively, in the face of a continuing recession. Turkey’s energy sector has $12-13 billion...
Business

Turkey’s April inflation unexpectedly slows to 19.5 percent amid weak demand

Turkey's inflation rate unexpectedly slowed somewhat to 19.50 percent in April from a year earlier, helped by more moderate rises in transportation and clothing, even while...
Business

Turkish Central Bank’s forex reserves shrink again, losing $1 billion

The Turkish Central Bank’s international net reserves suffered a further decrease of $1 billion last week, according to the T24 news website, falling to...
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