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Turkey’s wealth fund signs $5 bln MOU with Chinese insurance company

Turkey’s sovereign wealth fund said on Thursday it had signed a memorandum of understanding with China’s Sinosure to provide insurance support up to $5 billion for...
Business

Turkey holds first tender for Kanal İstanbul project amid coronavirus measures: report

Turkey held its first tender on Thursday to build a huge canal on the edge of İstanbul, a Transport Ministry spokesman said, signaling progress on the...
Business

Turkey shuts down historic İstanbul bazaar amid coronavirus outbreak

İstanbul’s historic Grand Bazaar has been closed as part of efforts to stop the spread of the novel coronavirus, the T24 news website reported on Monday. No statement...
Business

Turkish consumer confidence improves slightly in March: report

Turkey's consumer confidence index rose to 58.2 points in March from 57.3 the previous month, though it remained in the doldrums, Reuters reported, citing data from...
Business

Turkey threatens to seize factories unless mask producers sell to gov’t: report

Turkish authorities will seize the factories of companies that produce masks unless they agree to sell product to the government by Monday night, Interior Minister Suleyman Soylu...
Business

Turkey’s youth unemployment hit 25.4 percent in 2019: statistical institute

Turkey’s youth unemployment increased to 25.4 percent in 2019 with an annual 5.1 percentage point increase, the Turkish Statistical Institute (TurkStat) said on Friday. The unemployment rate...
Business

Coronavirus impact to push emerging markets, including Turkey, to recession: JP Morgan

The crippling economic impact of the coronavirus is set to push the world’s poorer countries including Turkey into recession by the middle of the year, US...
Business

Turkey will not allow deferral of bills under coronavirus measures: minister

Turkey is not considering any delay in payments of household or business bills under its stringent measures to fight the global coronavirus outbreak, the finance minister...
Business

Turkish shop owners association calls on gov’t to tap unemployment fund amid decreasing sales

Turkey’s United Brands Association (BMD), which represents 384 brands and some 70,000 stores across the country, has urged the government to activate the Unemployment Fund (İşsizlik Fonu),...
Business

Turkish shops to close after Erdoğan promises economic support: report

Turkish clothing retailers said on Thursday they were shutting stores and that shopping centers were set to close due to the spread of the coronavirus, after...
Business

CHP politician says Turkey late in taking economic measures against coronavirus

Faik Öztrak, the vice chair of Turkey’s main opposition Republican People’s Party (CHP), said the country was late in taking economic measures against the coronavirus pandemic and...
Business

Erdoğan announces $15 bln in support to counter economic impact of coronavirus

Turkish President Recep Tayyip Erdoğan on Wednesday unveiled his government’s plans to mitigate the financial impact of shutdowns caused by the outbreak of the novel coronavirus, announcing...
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