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Turkey’s economy to contract in 2019, longer recession looms: poll

Turkey's economy is expected to contract in 2019 after a decade of strong growth, and economists are predicting a longer recession ahead after a recent bout...
Business

Turkey’s finance minister fails convince global investors: report

Turkish Finance Minister Berat Albayrak offered little convincing detail of his economic turnaround plan and failed to enthuse investors at a private meeting in Washington on...
Business

Albayrak unveils reform plan: boost banks’ capital, adjust taxes

Turkish Finance Minister Berat Albayrak said on Wednesday the government would boost banks’ capital and valuable exports and adjust taxes as part of a reform plan...
Business

Turkish economy to shrink 2.5 percent in 2019: IMF

The International Monetary Fund (IMF) has released its World Economic Outlook (WEO) report for April 2019 in which it forecast that the Turkish economy would contract 2.5...
Business

Turkey starts imposing VAT on Facebook ads

The Turkish government has begun imposing Value Added Tax (VAT) on Facebook ads, the Bloomberg HT news website reported on Monday. The practice entered into force as of...
Business

Honda to halt car production in Turkey in 2021: report

Honda has decided to end car production in Turkey following completion of the production of its current Civic Sedan model in 2021, the company said in...
Business

Turkey extends suspension of tariffs on onions as prices move upward again

A presidential decree issued on Sunday extended the suspension of tariffs on onion imports one more month, until the end of April, as onion prices have...
Business

Reuters poll: Turkish lira will plunge to 6.25 against US dollar in a year

A Reuters poll on Friday forecast that the Turkish lira would continue falling, plunging to 6.25 to the US dollar in a year “amid rising tensions...
Business

Turkey’s annual inflation rises to 19.71 pct in March

Turkey’s annual consumer price inflation rose to 19.71 percent in March, official data showed on Wednesday, slightly exceeding poll forecasts as food prices jumped despite unorthodox...
Business

Turkish automotive market contracts by 44 percent in first quarter of 2019

Figures from Turkey’s Automotive Distributors Association (ODD) have revealed that in the first quarter of 2019 the sale of passenger cars and commercial vehicles has dropped 44.2...
Business

Beer stocks are among Turkey’s biggest winners in Erdoğan’s loss: report

Brewer stocks are the one corner of Turkey’s markets that is celebrating the return of secularists to power, Bloomberg reported on Monday. The lira swung between gains and...
Business

Turkey crisis puts fear into emerging markets: report

Turkey is spiraling into a deep economic crisis as foreign exchange reserves collapse and capital flight overwhelms the regime of President Recep Tayyip Erdoğan, the Telegraph daily...
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