Economy and Finance
168 articles
Economy and Finance
CENTRAL BANK SLOWS PACE OF RATE CUTS
The Central Bank eased interest rates more cautiously at its latest meeting, following a sharper-than-expected rise in inflation in September.
Economy and Finance
Premium
PROSECUTORS RAID ISTANBUL REFINERY WITH TIES TO RULING PARTY
The Istanbul Chief Public Prosecutor's Office has launched another operation in its ongoing crackdown on large corporations—this time targeting a gold refining company known for its close ties to the ruling AKP.
Economy and Finance
Premium
RENTAL HOUSING PROJECT UNDER WAY
President Recep Tayyip Erdoğan announced plans to build 500,000 social housing units in all 81 provinces. Erdoğan said the properties would be available for rent from the state for the first time.
Economy and Finance
KARAHAN: POLICY WILL BE TIGHTENED IF TARGET IS MISSED
Central Bank Governor Fatih Karahan said that if the inflation target is missed, monetary policy will be tightened.
Economy and Finance
Premium
PRESIDENCY SPENDING SOARED TO 12.5 BILLION LIRA IN 2024
The Turkish Presidency spent more than 32 million lira per day in 2024, according to financial records shared by the Court of Accounts. The annual total reached 12.57 billion lira, a significant increase over the previous year, BirGün reported.
Economy and Finance
CASE AGAINST TOP BUSINESS EXECUTIVES POSTPONED
No decision was reached at the second hearing of the case against two leaders of the top business group TÜSİAD for comments they made in speeches. In court, Orhan Turan, chair of the Board of Directors of the Turkish Industrialists' and Businessmen's Association (TÜSİAD), and Ömer Arif Aras, Chair of the High Advisory Council (YİK), denied the charges against them and requested acquittal.
Economy and Finance
ADDITIONAL TARIFFS ON U.S.-MADE PRODUCTS REMOVED
President Recep Tayyip Erdoğan removed additional tariffs on certain U.S.-made products, including automobiles, ahead of his meeting with U.S. President Donald Trump. The Presidential Decree was published in the Official Gazette, saying that no additional taxes will be imposed on imports of U.S.-origin products such as passenger cars, cosmetics and skin care products, leaf tobacco, and alcoholic beverages.
Economy and Finance
Premium
TAX AUDIT FOR TEN THOUSAND BIG BUSINESSES
Tax inspections generated an additional 15 billion lira ($360 million) by targeting high earners who had not filed income tax returns.
Economy and Finance
LABOR MINISTER CALLS JOBLESS YOUTH “THE OTHER SIDE”
With the youth unemployment rate above 25 percent, Labor and Social Security Minister Vedat Işıkhan characterized jobless young people as the “other side” and blamed them for making “excuses” instead of accepting available jobs, stating that they suffer from a “perception disorder.”
Economy and Finance
TURKEY EYES SPOT AMONG WORLD’S LEADING DEFENSE EXPORTERS
Turkey is set to become one of the world’s top 10 defense exporters this year, according to Treasury and Finance Minister Mehmet Şimşek.
Economy and Finance
MARKETS RECOVER AFTER CHP DECISION
The postponement of the decision in the lawsuit to cancel the CHP's 38th regular congress brought short-term relief to the markets. The BIST 100 index gained 5% following the decision. The banking index also gained over 6%. The risk premium reached 261 basis points, the lowest in about six months.
Economy and Finance
Premium
BILLIONAIRE-LED INVESTCO HOLDING SWEPT UP IN TURKISH STOCK MARKET PROBE
Turkish authorities have launched a probe into Investco Holding for allegedly laundering illicit gains obtained in violation of the Capital Markets Law through the stock exchange.