Business
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Turkey becomes world leader in tax on cigarettes
August 6, 2019
Turkey becomes world leader in tax on cigarettes
Turkey’s central bank has increased the reserve requirement ratios on forex deposits and participation funds by 100 basis points for…
Turkish automotive sales drop 66 percent year-on-year in July
August 3, 2019
Turkish automotive sales drop 66 percent year-on-year in July
Sales of passenger cars and light commercial vehicles in Turkey slid 66 percent year-on-year in July to 17,927 vehicles, the…
Turkey hikes natural gas prices nearly 15 percent overnight
August 1, 2019
Turkey hikes natural gas prices nearly 15 percent overnight
Turkey’s Petroleum Pipeline Corporation (BOTAŞ) on Wednesday night announced that the price of natural gas would be increased by 14.97…
Volkswagen declines to confirm investment in Turkey, says location still not decided
July 31, 2019
Volkswagen declines to confirm investment in Turkey, says location still not decided
German car manufacturer Volkswagen has said the search for a location for a new factory is still ongoing and that…
Interest rates will be lowered further, Turkey’s finance minister says
July 30, 2019
Interest rates will be lowered further, Turkey’s finance minister says
Turkey will see a downward trend in interest rates in the coming days, the country’s finance and treasury minister said…
Turkey’s central bank lowers interest rates by 425 basis points
July 25, 2019
Turkey’s central bank lowers interest rates by 425 basis points
Turkey’s central bank sharply cut its key interest rate by a more than expected 425 basis points to 19.75 percent…
Turkish consumer confidence declines again after bouncing back from record lows
July 24, 2019
Turkish consumer confidence declines again after bouncing back from record lows
Turkey’s consumer confidence fell to 56.5, a 2 percent drop from June’s 57.6, the Diken news website reported on Tuesday.…
Police seize $271 million in counterfeit banknotes in İstanbul
July 22, 2019
Police seize $271 million in counterfeit banknotes in İstanbul
İstanbul police have seized a total of $271,150,000 in counterfeit $100 bills in an operation in İstanbul and detained five…
Reuters poll expects deeper cut in Turkey’s interest rates
July 20, 2019
Reuters poll expects deeper cut in Turkey’s interest rates
The Turkish Central Bank is expected to cut its key interest rate by 250 basis points from its current 24…
Fitch downgrades 12 foreign owned, 2 state banks’ ratings: statement
July 20, 2019
Fitch downgrades 12 foreign owned, 2 state banks’ ratings: statement
New York-based Fitch Ratings, one of the big three credit ratings agencies, has downgraded the support-driven Long-Term Foreign Currency Issuer…