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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...
Business

Turkey’s PMI maintains its negative trend for the 13th month in a row

Turkey’s Purchasing Managers’ Index (PMI), a survey of manufacturing sector managers on productivity, stood at 46.8 in April, marking the 13th consecutive month with a score that...
Business

Number of Turkish companies with Syrian partners dropped by 47.5 pct in March over last year

The number of companies established with Syrian immigrant partners in Turkey decreased by 47.5 in March over the same period last year, according to a bulletin...
Business

Turkey’s trade deficit shrinks due to decline in imports

Turkey’s official statistics agency, TurkStat, has announced that the country’s foreign trade deficit in March dropped 63.7 percent year-on-year, from $5.88 billion to $2.14 billion, the NTV...
Business

Turkey watchers puzzled on policy after central bank chief’s Q&A: report

Turkish Central Bank Governor Murat Çetinkaya set the Turkish lira wobbling with comments at a press briefing on Tuesday that a new round of monetary tightening may...
Business

Turkey’s consumer confidence surges by 3.4 percent, signaling recovery from currency crisis

Turkey’s consumer confidence index rose by 3.4 percent in April, reaching 84.7 points, the Turkish Statistical Institute (TurkStat) said on Monday, signaling a recovery from a...
Business

10 percent of Turkish millionaires emigrated in 2018: report

Ten percent of Turkey’s millionaires, some 4,000 individuals, moved out of the country in 2018, according to the Global Wealth Migration Review 2019 recently published by...
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