Category: Economy
REUTERS ISTANBUL/ANKARA — Turkey forced banks to take losses on $8 billion in bad loans this week to kick-start lending and boost its economic recovery after losing patience with them, bankers, senior government officials and ...
(Bloomberg) — Turkish President Recep Tayyip Erdogan says he “believes” the central bank will cut interest rates when its monetary-policy committee meets Thursday, state news agency Anadolu reported. Inflation will decelerate after rates are slashed, ...
Turkish steelmaker Koc Celik will fully halt production at its Iskenderun plant from the end of September until January 2020 unless the market situation in Turkey improves, it said today. The steelmaker is mainly focused ...
Turkey’s inflation rate resumed its decline as a more stable lira and the effect of a high base of comparison restrain price growth. Consumer prices rose 15% in August from a year earlier, compared with ...
Turkey’s seasonally adjusted unemployment rate climbed to its highest level on record, statistical data showed on Thursday, despite a slight fall in the April-June headline figures, Reuters reported. The seasonally adjusted rate hit 14 percent, ...
PHOTO: Dünya Turkish industrial production fell for the 10th consecutive month in June, data released on Friday showed, offering few signs of a pick-up in economic growth as domestic demand remains weak after last year’s ...
FP PHOTO / OZAN KOSE Turkey’s central bank transferred around 22 billion lira ($3.94 billion) to the Treasury last month, the biggest deposit since an annual dividend payment in January, according to data on its ...
(Bloomberg) — China’s central bank transferred $1 billion worth of funds to Turkey in June, Beijing’s biggest support package ever for President Recep Tayyip Erdogan delivered at a critical time in an election month. The ...
Turkey’s Central Bank headquarters is seen in Ankara. Turkey’s central bank has increased the reserve requirement ratios on forex deposits and participation funds by 100 basis points for all maturity brackets, in a move to ...
Sales of passenger cars and light commercial vehicles in Turkey slid 66 percent year-on-year in July to 17,927 vehicles, the Automotive Distributors’ Association (ODD) said on Friday, according to Reuters. Sales dropped 47.5 percent in ...
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