Category: Economy
Turkey’s Drone Maker Baykar Is Booked for Three Years, CEO Says
15th August 2022
(Bloomberg) — Turkey’s Baykar Makina Sanayi ve Ticaret AS, which provides Ukraine with unmanned aerial vehicles, says it currently has the capacity to build 20 drones a month and a three-year order backlog. “TB2 and ...
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Turkey’s Foreign Reserves Get the Biggest Boost in a Year
12th August 2022
(Bloomberg) — Turkey’s foreign reserves rose by the most in a year to nearly $109 billion following money transfers from Russia for the construction of a nuclear power plant. The Turkish central bank’s gross reserves ...
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The Turkish Central Bank announced another interest rate cut today despite high inflation in the country. The bank lowered its one-week repo auction rate from 14% to 13%, according to a press release. What it means: The ...