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Business

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...
Business

Turkey’s consumer confidence index moves up in March

Turkey’s consumer confidence index has risen to 59.4 points in March, the Diken news website reported on Thursday, citing a release by the Turkish Statistical Institute (TurkStat). The index...
Business

Turkish Airlines denies claim of sale to Qatar

Turkey’s flag carrier Turkish Airlines (THY) on Thursday denied claims on social media that the airline has been sold to Qatar. The Prime Ministry Privatization...
Business

Qatar Airways buys Turkish Airlines, Swiss aviation expert claims

A Swiss-based pilot and aviation expert claimed on Twitter on Wednesday that Qatar Airways CEO Akbar Al Baker had announced the acquisition and a 49 percent...
Business

Turkish entrepreneurs lose High Court case over UK visa rule change

A group of Turkish entrepreneurs on Monday lost a High Court case that they brought against the Home Office over a change to immigration...
Business

Turkish producers critical of government’s decision to import potatoes

Turkish farmers are critical of the government’s recent decision to import potatoes to combat rising prices, Deutsche Welle Turkish service reported on Monday. Turkey’s Minister...
Business

Unemployment in Turkey rose to 13.5 percent in December, says statistics institute

The Turkish Statistics Institute (TurkStat) announced on Friday that unemployment rose  by 3.1 percent in December year-on-year, reaching 13.5 percent countrywide. This percentage corresponds to...
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