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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...
Business

İstanbul taxi drivers protest Careem after Uber acquisition

Taxi drivers in İstanbul have stopped using Careem, the biggest ride-hailing app in the Middle East, following its acquisition by Uber, with which the drivers have been...
Business

Turkey to continue withholding lira liquidity overseas at least until Sunday’s elections: report

Turkey will continue directing its banks to withhold lira liquidity from a key overseas market at least until after Sunday’s local elections, three sources familiar with...
Business

Turkish lira’s swap rates see highest since 2001 economic crisis

The Turkish lira’s overnight swap rate in London soared on Tuesday to 330 percent, and the weekly swap rate rose to 125 percent, according to Refinitiv...
Business

As lira stumbles, central bank says closely monitoring financial markets

After a plunge in the Turkish lira last week, Turkey’s central bank issued a statement on Monday saying that it has been closely monitoring financial markets...
Business

Turkey’s banking watchdog launches investigation into JP Morgan after lira stumbles

Turkey’s banking watchdog said it had launched an investigation into JP Morgan and other banks over complaints it received after the lira plunged more than 4...
Business

Central bank’s international reserves melting, Turkish officials say nothing about it: report

The Turkish Central Bank’s net international reserves fell $6.3 billion in the two weeks through March 15 to $28.5 billion, according to data published Thursday, Bloomberg...
Business

Competition Authority launches investigation into 24 produce wholesalers

Turkey’s Competition Authority on Friday announced an investigation into 24 businesses across the country for violation of fair competition regulations in the wholesaling of fruits and vegetables,...
Business

Turkey extends tax cuts on cars, other goods in face of recession

Turkey took another step to boost consumption and its lira in the face of recession by extending on Thursday the deadline for tax cuts on cars...
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