Economy and Finance
168 articles
Economy and Finance
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INTEREST SWALLOWS TURKEY'S BUDGET
Turkey spent 5.5 times more on interest payments than on public investment in the first half of the year, as debt servicing became the single largest item in a budget that ran a deficit of nearly 1 trillion liras.
Economy and Finance
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ANKARA, LONDON CUT RED TAPE ON CARS AND CHEMICALS
A bill aimed at removing technical trade barriers in the automotive and chemical sectors between Turkey and the United Kingdom has been submitted to the Turkish parliament for approval.
Economy and Finance
NEW TAX INCENTIVES FOR NUCLEAR POWER INVESTMENTS
The parliament’s Planning and Budget Committee has approved an omnibus bill introducing significant tax incentives to boost nuclear energy investments.
Economy and Finance
APPAREL EXPORTERS DEMAND SPECIAL RECOVERY PACKAGE
Suffering from a loss of competitiveness due to the weak lira and high inflation, the head of the Istanbul Apparel Exporters Association (IHKIB) has requested a three-year support program to save the ready-to-wear sector.
Economy and Finance
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TRADE MINISTER LOBBIES IN BRUSSELS TO SECURE 'MADE IN EU' STATUS FOR AUTO SECTOR
Turkish Trade Minister Ömer Bolat led a high-stakes diplomatic mission in Brussels on July 16-17 to secure Turkey's inclusion in the European Union’s upcoming 'Made in Europe' framework.
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CONFISCATION ECONOMY: THE PURGE THAT PAYS
Ten years after the failed coup, the crackdown on Gülenist-owned businesses has become a revenue stream: the state has collected $1.5 billion from selling off seized firms — and the state fund managing them has grown into one of the country's largest conglomerates, its reach now extending far beyond the Gülenists.
Economy and Finance
ECONOMISTS DEBATE INTEREST RATE AS CENTRAL BANK PREPARES FOR JULY DECISION
Most market participants expect the central bank to keep the policy rate unchanged at 37% when it meets on July 23, but pressure is building for a cut and some experts are calling for a wholesale shift in monetary policy.
Economy and Finance
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GLOBAL INDEX PROVIDERS PUT TURKISH MARKET ON NOTICE, STOKING DOWNGRADE FEARS
Foreign investors' confidence in Turkish equities is under mounting pressure as two of the world's leading index providers signaled Istanbul's stock market could face a downgrade. Morgan Stanley Capital International (MSCI) issued another warning regarding investment accessibility and shareholder transparency, announcing it may re-evaluate free-float structures on a company-by-company basis and reclassify certain shareholders as 'non-free float' to address distorted calculations driven by coordinated fund actions.
Economy and Finance
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AKP LAWMAKERS PRESS MINISTER ŞİMŞEK FOR PENSION REFORM
During the AKP’s 33rd Consultation and Assessment meeting in Sapanca, lawmakers criticized Finance Minister Mehmet Şimşek over soaring living costs and low retirement pensions.
Economy and Finance
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İŞBANK CEO WARNS OF DEEPENING CREDIT CRUNCH
Hakan Aran, the CEO of Turkey's largest private bank, İşBank, has warned that small and medium-sized enterprises (SMEs) face severe difficulties accessing credit, predicting a highly strained second half for 2026.
Economy and Finance
TURKEY SET TO LAUNCH ITS FIRST NUCLEAR PLANT REACTOR IN AUTUMN
Turkey’s Akkuyu Nuclear Power Plant plans to launch its first reactor in autumn 2026, a major milestone for the nation's energy infrastructure.
Economy and Finance
KAZAKH BILLIONAIRE SECURES REGULATORY APPROVAL TO BUY TURKISH BANK
International financial giant Freedom Holding Corp., founded by Kazakh billionaire Timur Turlov, has completed the regulatory approvals to acquire a majority stake in Turkish Bank A.Ş.